Economy
Trio Spurs 0.32% Gain at NASD OTC Bourse
By Adedapo Adesanya
The trio of Industrial and General Insurance (IGI) Plc, 11 Plc, and FrieslandCampina Wamco Nigeria Plc triggered a 0.32 per cent growth at the NASD Over-the-Counter (OTC) Securities Exchange on Wednesday, May 22.
This increased the market capitalisation of the alternative stock exchange by N5.57 million to wrap the session at N1.757 trillion compared with the preceding day’s N1.751 trillion.
In the same vein, it raised the NASD Unlisted Security Index (NSI) by 4.06 points to settle at 1,283.16 points compared with 1,279.10 points recorded in the previous session.
IGI Plc gained 1 Kobo to sell at 21 Kobo per share versus 20 Kobo per share, 11 Plc appreciated by N6.32 to trade at N192.32 per unit versus N186.00 per unit, and FrieslandCampina Wamco Nigeria Plc increased its value by N1.61 to end the session at N51.05 per unit, in contrast to the previous session’s N49.44 per unit.
There was a 181.1 per cent rise in the volume of securities traded by investors at midweek to 310,294 units from the 110,407 million units recorded a day earluer.
However, there was 31.8 per cent shortfall in the value of stocks transacted during the session to N48.1 million from the N70.6 million achieved in the previous trading day.
These transactions were carried out in 39 deals compared with the 21 deals executed at the preceding session, indicating an 85.7 per cent rise.
At the close of business, Aradel Holdings Plc was the most active equity by value on a year-to-date basis with a turnover of 5.2 million units valued at N11.5 billion, followed by Central Securities Clearing System (CSCS) Plc with the sale of 100.6 million units for N2.4 billion, and Capital Hotels Plc with 228.6 million units worth N1.1 billion.
Capital Hotels Plc ended the session as the most active stock by volume on a year-to-date basis with 228.6 million valued at N1.1 billion, trailed by Mixta Real Estate Plc with the sale of 139.8 million units for N240.1 million, and CSCS Plc with 100.6 million units worth N2.4 billion.
By Adedapo Adesanya
The duo of 11 Plc and Central Securities Clearing System (CSCS) Plc helped flip the NASD Over-the-Counter (OTC) Securities Exchange from a three-day losing streak to a 0.27 per cent gain on Thursday, August 13.
11 Plc, which used to be known as Mobil Nigeria, garnered N22.28 to close at N245.03 per unit compared with the preceding day’s N222.75 per unit, and CSCS Plc appreciated by N3.76 to N109.76 per share from N106.00 per share.
The gains offset the N10.00 loss recorded by FrieslandCampina Wamco Nigeria Plc, closing at N160.00 per unit compared with N170.00 per unit it finished at midweek.
When the bourse closed for the day, the market capitalisation increased by N7.31 billion to N2.727 trillion from N2.720 trillion, and the NASD Security Index (NSI) went up by 12.17 points to 4,544.20 points from 4,532.03 points.
Yesterday, the volume of securities exchanged by investors skyrocketed by 1,173.8 per cent to 1.9 million units from 150,340 units, the value of securities jumped by 1,029.5 per cent to N210.8 million from N18.7 million, and the number of deals soared by 6.3 per cent to 34 deals from 32 deals.
Great Nigeria Insurance (GNI) Plc remained the most active stock by value on a year-to-date basis, with 3.4 billion units worth N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units valued at N6.5 billion, and CSCS Plc with 79.1 million units exchanged for N5.7 billion.
GNI Plc also closed the day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units sold for N8.4 billion, followed by Infracredit Plc with 2.3 billion units transacted for N6.5 billion, and Resourcery Plc with 1.1 billion units traded for N415.7 million.
By Adedapo Adesanya
The Naira-US Dollar exchange rate remained unchanged in the black market segment of the foreign exchange (FX) market on Thursday, August 13, at N1,395/$1.
But at the GTBank forex desk, the Nigerian currency gained N3 against the greenback during the session to settle at N1,367/$1, in contrast to Wednesday’s rate of N1,370/$1.
Similarly, the local currency further appreciated against the Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) yesterday by N2.93 or 0.22 per cent to trade at N1,357.65/$1 compared with the previous day’s N1,360.58/$1.
Equally, the Nigerian Naira improved its value against the Pound Sterling at the official market by N6.94 to quote at N1,834.05, in contrast to the preceding session’s N1,840.99/£1, and against the Euro, it firmed up by N5.01 to close at N1,567.00/€1 versus Wednesday’s N1,572.01/€1.
Data from the Central Bank of Nigeria (CBN) revealed that interbank FX transactions plunged by 53 per cent to $79.097 million from $168.758 million, as banks recorded a sharp cutback in customers’ US dollar demand, with the number of deals down to 98 from 190.
The apex bank announced the removal of restrictions preventing financial institutions that accessed its Standing Lending Facility (SLF) from participating in primary government securities transactions and FX.
Under a revised framework, institutions that accessed the CBN’s discount window will no longer lose access to the facility because of their participation in the NAFEM or primary auctions of government securities.
As for the cryptocurrency market, prices fell as the expected US inflation report failed to push the asset beyond its established trading range.
The US Bureau of Labour Statistics reported that headline inflation rose 0.1 per cent month over month in July and slowed to 3.4 per cent annually from 3.5 per cent in June. Core CPI, which excludes food and energy, increased 0.2 per cent during the month and 2.5 per cent from a year earlier.
Cardano (ADA) lost 1.3 per cent to close at $0.1821, TRON (TRX) also shrank by 1.3 per cent to $0.3335, Solana (SOL) fell by 1.0 per cent to $75.60, Dogecoin (DOGE) also declined by 1.0 per cent to $0.06981, Bitcoin (BTC) dropped 0.9 per cent to sell at $63,152.59, Ethereum (ETH) dipped by 0.8 per cent to $1,877.07, Binance Coin (BNB) slumped by 0.7 per cent to $608.42, and Ripple (XRP) depreciated by 0.5 per cent to $1.00, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 apiece.
By Dipo Olowookere
Weak investor sentiment further crumbled Nigeria’s stock exchange by 0.39 per cent on Thursday, as sell-offs persisted.
Data showed that all the major sectors of the Nigerian Exchange (NGX) Limited ended in the red, with the consumer goods index down by 1.22 per cent. The industrial goods space retreated by 0.75 per cent, the insurance segment depreciated by 0.55 per cent, the banking sector tumbled by 0.27 per cent, and the energy counter receded by 0.07 per cent.
At the close of business, the All-Share Index (ASI) went down by 949.71 points to 243,017.38 points from 243,967.09 points, and the market capitalisation dipped by N613 billion to N156.881 trillion from N157.494 trillion.
Unilever Nigeria led the losers’ chart after it depleted by 9.97 per cent to N118.30, Chellarams dropped 9.66 per cent to close at N10.75, NDIF slumped by 9.55 per cent to N147.70, DAAR Communications crashed by 9.25 per cent to N1.57, and Cornerstone Insurance slipped by 9.09 per cent to N5.00.
On the flip side, International Energy Insurance topped the gainers’ log after it grew by 10.00 per cent to N4.84, John Holt expanded by 9.89 per cent to N10.00, Trans-Nationwide Express rose by 9.75 per cent to N2.59, SUNU Assurances gained 8.48 per cent to settle at N3.58, and NEM Insurance appreciated by 6.25 per cent to N34.00.
Business Post reports that there were 16 appreciating stocks and 41 depreciating stocks, representing a negative market breadth index.
Yesterday, 4.2 billion equities worth N50.7 billion were transacted in 41,454 deals versus the 1.5 billion equities valued at N20.9 billion that exchanged hands in 39,085 deals at midweek.
This indicated that the trading volume, value, and number of deals surged by 180.00 per cent, 142.58 per cent, and 6.06 per cent, respectively.
Cornerstone Insurance was the busiest equity on Thursday, with a turnover of 3.6 billion units valued at N18.4 billion, VFD Group exchanged 151.8 million units worth N1.9 billion, Chams sold 33.8 million units for N153.7 million, First Holdco transacted 28.3 million units worth N3.9 billion, and CMFC traded 24.6 million units valued at N78.2 million.
