Banking & Finance

Index drops further by 1.56% as NSE lists International Breweries merger scheme

Published

6 years ago

December 15, 2017

Investors in Equities market forfeit N21bn as GlaxoSmithKline leads losers' chart

…FG to issue N10.6bn green bonds to finance renewable energy projects***

The All-Share Index of the Nigerian Stock Exchange (NSE) dropped further by 1.56 per cent on Thursday following profit taking embarked by investors ahead of Yuletide.

The index shed 600.94 points or 1.56 per cent to close at 37,933.70 against 38,534.64 posted on Wednesday.

The decline was as a result of loses posted by some highly capitalised equities.

Dangote Cement topped the losers’ chart with N9.88 to close at N230 per share.

Flour Mills trailed with a loss of N3.32 to close at N30.87, while Lafarge Africa lost N1 to close at N44 per share.

National Salt declined by 69k to close at N19.31, while Nigerian Breweries dipped 65k to close at N139 per share.

However, market capitalisation rose by N77 billion or 0.57 per cent to close at N13.497 trillion compared with N13.420 trillion achieved on Wednesday.

Mr Ambrose Omordion, the Chief Operating Officer of InvestData Ltd., attributed the growth by market capitalisation to listing of International Breweries merger scheme of about N5.2 billion.

Conversely, Seplat recorded the highest gain to lead the gainers’ table with N38.74 to close at N540.05 per share.

Nestle garnered N1.55 to close at N1454.05, while Julius Berger improved by N1 to close at N28 per share.

Unilever rose by 40k to close at N40.70, while GT Bank inched 10k to close at N40 per share.

The volume of shares traded closed lower with a turnover of 289.30 million shares worth N6.22 billion transacted in 4,617 deals.

This was in contrast with 323.95 million shares valued at N4.40 billion traded in 5,168 deals on Wednesday.

FBN Holdings was the most active with a total of 39.97 million shares worth N357.14 million.

FCMB Group came second with 33.14 million shares valued at N43.09 million, while Zenith International traded 29.43 million shares worth N729.16 million.

Fidelity Bank sold 25.54 million shares valued at N60.75 million, Diamond Bank accounted for 25.54 million shares worth N37.34 million.

In the meantime, Ms. Patience Oniha, the Director-General, Debt Management Office (DMO), says the Federal Government is planning to issue N10.6 billion green bonds to finance renewable energy projects to protect the environment.

Oniha said this in Abuja on Thursday at the Nigeria Green Bond Investors Forum, organised by the Federal Ministries of Environment and Finance, in collaboration with Green Bond Advisory Group.

She said that the forum was to educate prospective investors in the Green Bond programme to know the benefits of investing in green bond projects.

The director-general said the Federal Government acted to borrow the N10.6 billion, in line with its borrowing agenda contained in the 2017 budget.

According to her, more funds will be allocated to finance green bond projects in the subsequent budgets.

Oniha said that the bonds would be used to finance three renewable energy projects, which were Renewable Energy Micro-Utilities Programme, Re-energising Education Programme and Afforestation Programme.

Also speaking, Alhaja Halimat Bwari, the Deputy Director, Department of Climate Change, Federal Ministry of Environment, said that N142 billion would be required to finance renewable energy projects in the country.

Bwari said that the ministry decided to issue the Green Bond as alternative source of funding because of the huge capital outlay required to finance the nation’s renewable energy projects.

She noted that the bond would boost the nation’s economy and protect the environment.
Besides, Bwari said that the ministry had inaugurated five low-carbon growth projects.

She listed the projects as the Rural Energy Access, the Great Green Wall Programme, the National Clean Stoves Scheme, the Clean Energy Transportation Scheme and the Nigerian Erosion and Watershed Management Project.

She said that the projects would go a long way to reduce carbon emissions in Nigeria, while facilitating the country’s efforts to meet its commitments in the Paris Agreement on Climate Change.

Stakeholders that participated in the forum include Pension Funds Administrators (PFAs), Federal Ministry of Finance, Inter-ministerial Committee on Climate Change and Nigerian Stock Exchange (NSE).

Others are DMO, Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC), the World Bank and Chapel Hill Denham as well as representatives of private sector organisations.

Related Topics:Debt Management Office Nigerian Stock Exchange (NSE)

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Banking & Finance

Investors Lose N132bn As Dangote Sugar, PZ Cussons Nigeria lead Losers table

Published

4 days ago

May 14, 2024

Maritime First

Investors Lose N132bn As Dangote Sugar, PZ Cussons Nigeria lead Losers table

The stock market recorded a downturn, resulting in a loss of N132 billion in investors’ wealth on the Nigerian Exchange Ltd. (NGX).

This negative trend was primarily driven by sell-offs in Tier-one banking stocks, such as Zenith Bank, FBN Holdings, and United Bank of Africa.

Apart from Tier-one banking stocks, Wema Bank, Sterling Bank, FCMB, Dangote Sugar, and PZ Cussons, among others pulled down the market on a negative note.

Consequently, the market capitalisation of the NGX declined to N55.132 trillion from N55.264 trillion, marking a decrease of N132 billion.

The All-Share Index also dropped by 0.24 per cent, losing 235 points to settle at 97,473.98 from an opening of 97,708.74.

Year-to-date (YTD) figures fell to 30.36 per cent, reflecting the overall negative sentiment prevailing in the market.

However, the market breadth closed positive with 22 gainers and 20 losers.

LearnAfrica and Tantalizers led the gainers’ table by 10 per cent each, closing at N3.63 and 55k per share, respectively.

McNichols Plc followed closely with a gain of 9.89 per cent, while Regency Alliance Insurance and Cutix advanced by 9.38 per cent and 8.33 per cent, respectively.

On the flip side, Dangote Sugar, PZ Cussons Nigeria, and The Initiates Plc experienced the biggest losses, each dropping by 10 per cent to close at N40.50, N22.50, and N2.25 per share, respectively.

NEM and Caverton also saw significant declines of 9.66 per cent and 9.55 per cent, respectively, closing at N9.35 and N1.24 per share.

The trade turnover settled 48.90 per cent lower than the previous session.

A total of 306.60 million shares valued at N5.81 billion were transacted in 7,951 deals, in contrast to 439.10 million shares valued at N11.38 billion in 8,607 deals traded on Monday.

Access Corporation led the activity chart in volume with 33.23 million shares valued at N575.59 million.

GTCO followed to lead the chart in value chart with 32.25 million shares worth N1.36 billion.

Nigerian Breweries sold 27.46 million shares worth N631.76 million and UBA traded 22.52 million shares valued at N519.50 million.

Also, Royal Exchange Plc transacted 19.46 million shares worth N10.18 million.

Banking & Finance

Sell-offs In Airtel, Others Drag Market Capitalisation Down By N500bn

Published

2 weeks ago

May 6, 2024

Maritime First

…Airtel Africa leads the losers’ table!

Opening the week, the Nigerian Exchange Ltd. (NGX) market capitalisation on Monday dropped by 0.89 per cent to close at N55.823 trillion.

Specifically, the market capitalisation declined by N500 billion or 0.89 per cent to close at N55.823 trillion as against N56.323 trillion recorded on Friday.

The All-Share Index, which opened at 99,587.25, also shed 0.89 per cent or 884 points to close at 98,703.68.

As a result, the Year-To-Date (YTD) slipped to 32 per cent.

Sell-offs in Airtel Africa, Transnational Corporation, Stanbic, Nigerian Breweries and Nigerian Aviation Handling Company(NAHCO), among other declined equities, pulled the market down.

However, market breadth closed positive with 39 gainers and 18 losers on the floor of the Exchange.

On the gainers’ table, Cornerstone Insurance and Guinea Insurance led by 10 per cent each to close at N1.98 and 33k per share, respectively.

NASCON and Oando Plc rose by 9.94 per cent each to close at N47 and N9.95, while Wema Bank went up by 9.24 per cent to close at N7.55 per share respectively.

On the other hand, Airtel Africa led the losers’ table by 10 per cent to close at N1,980, and Berger Paints trailed by 9.85 per cent to close at N12.35 per share.

Industrial & Medical Gases shed 9.82 per cent to close at N12.40, International Energy Insurance dropped 9.35 per cent to close at N1.26, while International Breweries declined by 9 per cent to close at N4.35 per share.

Also, the analysis of the market activities showed that trade turnover was higher than the previous session, with the value of transactions up by 26.10 per cent.

Investors traded a total of 421.73 million shares valued at N8.95 billion in 10,624 deals, compared to 446.57 million shares valued at N7.10 billion, exchanged in 9,297 deals posted in the previous session.

Access Corporation led the activity chart in volume and value with 98.24 million shares worth N1.76 billion, United Bank of Africa(UBA), followed by 40.39 million shares valued at N1.07 billion.

Guaranty Trust Holding Company (GTCO) sold 35.90 million shares valued at N1.49 billion, while Universal Insurance transacted 30.39 million shares worth N11.39 million.

Also, Zenith Bank traded 26.90 million shares worth N982.15 million.

Banking & Finance

MTN, Zenith, FBN Stocks Lift Market Capitalisation By N196bn

Published

2 weeks ago

May 1, 2024

Maritime First

…Dangote Sugar leads the Losers Table

Renewed demand for MTN Nigeria, alongside Zenith Bank and FBN Holdings, among other leading stocks on Tuesday, pulled the Nigerian Exchange Ltd. (NGX) market capitalisation up by 0.35 per cent.

Recovering from previous session losses, the market capitalisation, which opened at N55.357 trillion, gained N196 billion or 0.35 per cent, to close at N55.553 trillion.

Consequently, the All-Share Index rose by 0.35 per cent or 346 points to close at 98,225.63, in contrast to 97,879.94 recorded on Monday.

As a result, the Year-To-Date (YTD) return rose to 31.36 per cent.

Market breadth also closed positive with 28 gainers and 18 losers on the floor of the Exchange.

On the gainers’ table, CAP Plc, LearnAfrica, Nigeria Aviation Handling Company and UACN led by 10 per cent each to close at N28.60, N3.30, N36.30 and N14.85 per share, respectively.

Conoil followed closely by 9.96 per cent to close at N99.95 per share.

On the other side, Dangote Sugar led the losers’ table by 9.95 per cent to close at N38.90, and Computer Warehouse Group trailed by 9.85 per cent to close at N5.05 per share.

Vitafoam Nigeria shed 9.81 per cent to close at N17, Honeywell Flour declined by 9.74 per cent to close at N3.15 and UPL lost 9.60 per cent to close at N2.26 per share.

Analysis of the market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 193.52 per cent.

A total of 552.21 million shares valued at N14.92 billion were exchanged in 9,350 deals, as against 277.24 million shares valued at N5.08 billion, exchanged in 8,714 deals traded previously.

GTCO led the activity chart in volume and value with 245.46 million shares worth N7.95 billion, FBN Holdings followed by 45.47 million shares valued at N1.09 billion.

Access Corporation transacted 42.87 million shares valued at N727.96 million, Transnational Corporation sold 36.08 million shares worth N502.35 million and United Bank of Africa(UBA) traded 22.45 million shares worth N537.74 million.