Economy
Stock Exchange Slips 0.58% as MTN, Presco, Others Fall
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited started off the first trading session of the week on the wrong foot as it slipped by 0.58 per cent at the close of transactions on Monday.
Profit-taking in some blue-chip shares like MTN Nigeria, Zenith Bank, GTCO and Lafarge Africa contributed to the downfall of the stock exchange yesterday.
This tripped the All Share Index (ASI) back to the 53,000-region after shedding 313.16 points as it closed at 53,772.14 points compared with the 54,085.30 points it ended last Friday.
In the same vein, the market capitalisation, which measures the total value of equities on the bourse, went down by N169 billion to settle at N28.989 trillion compared with the previous session’s N29.158 trillion.
Despite the loss, the market breadth was positive, with 17 price losers and 25 price gainers, indicating a strong investor sentiment.
The worst-performing stock was Presco as its value dropped 10.00 per cent to N162.00, University Press declined by 8.77 per cent to N2.60, FTN Cocoa depleted by 8.57 per cent to 32 kobo, May and Baker fell by 7.60 per cent to N4.01, while Wema Bank depreciated by 6.85 per cent to N3.40.
On the other hand, Trans-Nationwide Express finished the day as the best performer after its stock appreciated by 9.86 per cent to 78 kobo, NPF Microfinance Bank improved by 9.76 per cent to N1.80, UAC Nigeria chalked up 9.52 per cent to sell for N11.50, Jaiz Bank rose by 8.97 per cent to 85 kobo, while Livestock Feeds grew by 6.67 per cent to N1.60.
Business Post reports that there was an off-market deal in Union Bank on the exchange yesterday and this significantly shot the activity chart higher, with the trading volume rising by 13,146.69 per cent to 27.6 billion shares from 208.1 million shares and the trading value jumping by 3,420.76 per cent to N194.4 billion from N5.5 billion, while the number of trades reduced by 6.37 per cent to 4,586 deals from 4,898 deals.
Union Bank traded 27.3 billion stocks worth N191.4 billion, Transcorp exchanged 70.1 million shares for N85.1 million, Access Holdings transacted 21.3 million equities valued at N212.4 million, Jaiz Bank traded 16.3 million shares valued at N13.6 million, while Sterling Bank sold 10.5 million stocks worth N15.9 million.
A look at the sectorial indices showed a mixed bag as the banking, consumer goods and industrial goods sectors lost 0.26 per cent, 0.11 per cent and 0.11 per cent respectively, while the insurance and energy counters gained 0.65 per cent and 0.07 per cent respectively.
By Adedapo Adesanya
Food Concepts Plc, the parent company of fast food brands like Chicken Republic and PieXpress, has disclosed plans to pay 10 Kobo in interim dividend to new and existing shareholders for the 2026 financial year.
This was disclosed by the company in a notice to the NASD Over-the-Counter (OTC) Securities Exchange, where it trades its securities.
The notice indicated that the proposed interim dividend, which comes with no bonus, will be paid to those who hold the stocks of the company as of the qualification date for the dividend, which was Tuesday, March 24.
This means only those who hold the company’s shares as of the closing session will be eligible to receive the stipulated dividend payment.
The shareholders of the company will be credited with the 10 Kobo dividend on Tuesday, March 31.
The notice noted that the closure of the company’s register will be on Wednesday, March 25, through Friday, March 27, 2026, both days inclusive.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange dropped for the third consecutive session on Wednesday, March 18, by 0.39 per cent due to continued sell-offs.
In what would be the final trading session of the week due to public holidays on Thursday and Friday for Eid-el-Fitr, the NASD Unlisted Security Index (NSI) further dipped by 16.14 points to 4,114.75 points from 4,130.89 points, and the market capitalisation lost N9.66 billion to close at N2.461 trillion versus the previous day’s N2.471 trillion.
FrieslandCampina Wamco Nigeria Plc depreciated by N10.32 to sell at N112.00 per share versus N122.32 per share, NASD Plc dropped N4.50 to finish at N41.50 per unit compared with the previous session’s N46.00 per unit, and Geo-Fluids decreased by 9 Kobo to N3.02 per share from N3.11 per share.
On the flip side, Air Liquide Plc improved by N2.23 to N24.57 per unit from N22.34 per unit, Central Securities Clearing System (CSCS) Plc advanced by 90 Kobo to N76.33 per share from N75.43 per share, Food Concepts Plc rose by 24 Kobo to N3.30 per unit from N3.06 per unit, UBN Property Plc surged by 20 Kobo to N2.18 per share from N1.98 per share, Impresit Bakalori Plc jumped 16 Kobo to N1.83 per unit from N1.67 per unit, and First Trust Mortgage Bank Plc added 14 Kobo to trade at N1.89 per share versus N1.75 per share.
During the trading day, the volume of securities went up by 43,404.4 per cent to 400.8 million units from 921,265 units, the value of securities grew by 2,108.7 per cent to N1.2 billion from N54.7 million, and the number of deals soared by 23.7 per cent to 47 deals from 38 deals.
CSCS Plc ended the day as the most traded stock by value (year-to-date) with 38.7 million units valued at N2.4 billion, followed by Infrastructure Guarantee Credit Plc with 400 million units exchanged for N1.2 billion, and Okitipupa Plc with 6.4 million units traded for N1.2 billion.
Resourcery Plc finished the session as the most traded stock by volume (year-to-date) with 1.1 billion units worth N415.7 million, trailed by Infrastructure Guarantee Credit Plc with 400 million units sold for N1.2 billion, and Geo-Fluids Plc with 131.1 million units valued at N505.6 million.
By Dipo Olowookere
The Nigerian Exchange (NGX) experienced a pullback of 0.69 per cent as a result of profit-taking by investors, with shares in the banking and energy sectors mostly affected.
Data harvested by Business Post showed that the energy index was down by 4.58 per cent during the session, and the banking space lost 2.14 per cent.
They brought down the All-Share Index (ASI) by 1,402.56 points to 201,156.85 points from 202,559.41 points and shrank the market capitalisation by N900 billion to N129.126 trillion from N130.026 trillion.
Customs Street ended in red at midweek despite three of the five key sectors finishing in green. The consumer goods counter expanded by 1.19 per cent, the industrial goods index improved by 0.46 per cent, and the insurance sector grew by 0.43 per cent.
Red Star Express declined by 9.98 per cent to N25.70, Aradel Holdings went down by 9.68 per cent to N1,210.30, Presco lost 9.30 per cent to trade at N1,701.10, Living Trust Mortgage Bank crashed by 8.40 per cent to N4.80, and DAAR Communications dropped 7.50 per cent to end at N1.85.
On the flip side, Secure Electronic Technology gained 10.00 per cent to settle at N1.32, Guinness Nigeria rose by 9.92 per cent to N423.20, John Holt increased by 9.72 per cent to N11.85, Sovereign Trust Insurance surged by 9.57 per cent to N2.06, and Linkage Assurance chalked up 9.33 per cent to trade at N1.64.
Investor sentiment was weak yesterday after the bourse registered 33 price gainers and 38 price losers, indicating a negative market breadth index.
Market participants bought and sold 6.1 billion stocks valued at N130.1 billion in 58,562 deals compared with the 1.8 billion stocks worth N88.1 billion traded in 62,654 deals on Tuesday, representing a shortfall in the number of deals by 6.53 per cent, and a spike in the trading volume and value by 238.89 per cent and 47.67 per cent apiece.
The most active equity on Wednesday was eTranzact with 5.2 billion units sold for N24.3 billion, Wema Bank exchanged 111.4 million units worth N3.1 billion, Coronation Insurance transacted 96.4 million units valued at N303.9 million, Dangote Cement traded 75.2 million units for N56.5 billion, and Access Holdings exchanged 61.5 million units valued at N1.6 billion.
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