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NGX: Market Gains N36bn; as Naira Gains, Exchanges N441.38 to Dollar

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NGX: Market Gains N36bn; as Naira Gains, Exchanges N441.38 to Dollar

The Nigerian Exchange Ltd. (NGX) resumed the week on a positive note with N36 billion gain due to bargain-hunting in shares of MTN Nigerian Communications (MTNN) and seven other companies.

The market capitalisation increased by N36 billion or 0.15 percent to close at N24.217 trillion from N24.181 billion at the previous session.

Also, the All Share Index (ASI) rose by 64.90 points or 0.15 percent to close at 44,461.63 from 44,396.73 recorded on Friday.

The upturn was a result of gains recorded in medium and large capitalised stocks, amongst which are: MTNN, Beta Glass Nigeria, Lafarge Africa, Ardova and Red Star Express Plc.

Analysts at United Capital Plc said, “We expect bearish sentiment to continue to dominate the market as investors stay off equities and take advantage of the rising interest rates in the fixed-income market.

“However, we may see some bargain hunting in stocks that have underlying fundamentals as investors look to take position ahead of the Q3, 2022 earning season.”

Market sentiment, as measured by market breadth was, however, negative as 18 stocks lost relative to eight gainers.

Red Star Express recorded the highest price gain of 8.22 percent to close at N2.37, per share.

Beta Glass followed with a gain of 5.90 percent to close at N43.95, while Wapic Insurance rose by 5.88 percent to close at 36 kobo, per share.

Lafarge Africa went up by 2.73 percent to close at N22.55, while Ardova appreciated by 2.19 percent to close at N14.00, per share.

On the other hand, Unilever Nigeria led the losers’ chart by 10 percent to close at N10.80, per share.

NEM Insurance followed with a decline of 9.50 percent to close at N4.00, while Lasaco Assurance depreciated by 4.60 percent to close at 83k, per share.

Regency Alliance Insurance declined by 4.17 percent to close at 23k, while Sovereign Trust Insurance depreciated by 3.85 percent to close at 25 k, per share.

The total volume of trades declined by 23.9 percent to 72.328 million units, valued at N2.169 billion, and exchanged in 2,887deals.

Transnational Corporation of Nigeria (Transcorp) topped the activity chart with 11.352 million shares valued at N11.929 million.

Nigerian Exchange Group (NGX Group) followed with 5.611 million shares worth N120.060 million, while Guaranty Trust Holding Company (GTCO) traded 5.277 million shares valued at N97.319 million.

Sovereign Trust Insurance traded 4.120 million shares valued at N1.051 million, while Fidelity Bank transacted 3.923 million shares worth N14.433 million.

In another development, the Naira on Monday exchanged at N441.38 to the dollar at the Investors and Exporters window, an appreciation of 0.09 percent, compared with N441.67 to the dollar it exchanged at the close of business on Oct. 21.

The open indicative rate closed at N440.40 to the dollar during the session.

An exchange rate of N447 to the dollar was the highest rate recorded within the day’s trading before it settled at N441.38.

The Naira sold for as low as N438 to the dollar within the day’s trading.

A total of 39.47 million dollars was traded at the official Investors and Exporters window on Monday

 

Banking & Finance

NGX Maintains Upward trend by N142bn; Guinness Nigeria, Ardova lead Losers’ Chart

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NGX Maintains Upward trend by N142bn; Guinness Nigeria, Ardova lead Losers’ Chart

The Nigeria Exchange Ltd. (NGX) on Wednesday gained N142 billion or 0.49 percent as market capitalisation went up to N29.139 trillion from N28.997 trillion on Tuesday.

Also, the All-Share Index (ASI) rose by 261.01 points or 0.49 percent to 53,499.68 points from the 53,238.67 recorded on Tuesday.

Consequently, the Year-to-Date (YTD) return rose to 4.39 percent

The positive performance was impacted by gains recorded in medium and large capitalised stocks, amongst which are: NAHCO, NNFM, Nigerian Exchange Group, IMG and Geregu.

Market breadth closed flat as 14 stocks recorded gains relative to 14 losers.

Seplat and Industrial & Medical Glasses (IMG) recorded the highest gain of 10 percent each to close at N1,210 and N7.70, respectively.

Northern Nigeria Flour Mills followed by 9.46 percent to close at N8.10 per share.

International Energy Insurance rise with a gain of 9.33 percent to close at 82k, while Nigerian Aviation Handling Company garnered 9.26 per cent to close at 37k per share.

On the other hand, Guinness Nigeria led the losers’ chart by 10 percent, to close at N63 per share.

Ardova followed with a decline of 9.95 percent to close at N17.20 per share.

Also, Academy Press dropped by 9.85 percent to close at N1.19, while RT Briscoe declined by 9.68 percent to close at 28k per share.

Cornerstone Insurance declined by 8.33 percent to close at 55k per share.

However, the total volume traded increased by 30 percent to 200.37 million shares, worth N5.52 billion, and traded in 3,716 deals.

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Banking & Finance

NGX: Market Capitalisation up by N44bn, NCR Nigeria, Chams top losers’ chart

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NGX Maintains Upward trend by N142bn; Guinness Nigeria, Ardova lead Losers’ Chart

The market capitalisation on Tuesday was up by N44 billion or 0.15 percent to close at N28.997 trillion from N28.953 trillion reported on Monday.

In the same vein, the All-Share Index appreciated by 80.84 points or 0.15 percent to close at 53,238.67 from 53,157.83 recorded on Monday.

Veritas Kapital, LivingTrust Mortgage Bank and Geregu Power led the gainers’ table in percentage terms, gaining 10 percent each to close at 22k, N1.98 and N193.60, per share, respectively.

John Holt Plc followed with 9.92 percent to close at N1.33, while SCOA gained 9.78 percent to close at N1.01 per share.

Conversely, NCR Nigeria and Chams topped the losers’ chart in percentage terms, dropping by 10 percent each to N3.24 and 27k per share, respectively.

Unity Bank trailed with loss of 9.09 percent to close at N50, while Royal Exchange dipped 8.97 percent to close at 71k per share.

Japaul Gold & Ventures was down by 8.33 percent to close at 33k per share.

 The NGX  however moved a total of 250.19 million shares worth N5.88 billion in 4,328 deals.

This was against a turnover of 201.36 million shares valued at N5.67 billion exchanged in 4,332 deals on Monday, a decrease of 3.7 percent.

Universal Insurance Company was the most active stock during the day, exchanging 48.55 million shares valued at N9.71 million.

Guaranty Trust Holding Company (GTCO) followed with an account of 14.16 million shares valued at N353.77 million, while Zenith Bank traded 12.52 million shares worth N315.02 million.

Access Bank Holdings sold 11.57 million shares valued at N104.88 million, while Unity Bank traded 10.88 million shares worth N5.48 million.

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Banking & Finance

Equity Market Gains N272bn, as Wapic Assurance, Tripple Gee lead Losers’ Table

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Equity Market Gains N272bn, as Wapic Assurance, Tripple Gee lead Losers’ Table

The nation’s bourse rebounded on Monday with market capitalisation gaining N272 billion or 0.95 percent to close at N28.953 trillion as against N28.681 trillion recorded on Friday.

Also, the All-Share Index (ASI) gained 499.95 points or 0.95 percent to settle at 53,157.83 as against 52,657.88 recorded on Friday.

The positive performance was driven by stocks of Zenith Bank, Airtel Africa and Wapco.

As a result, the year-to-date (YTD) return declined to 3.72 percent.

Market breadth closed positive as 28 stocks advanced, while 15 others declined.

A breakdown of price movement showed that John Holt and Geregu Power topped the gainers’ table with a gain of 10 percent each to close at N1.21 and N176 per share, respectively.

Nigerian Aviation Handling Company trailed with a gain of 9.62 percent to close at N8.55, while International Energy Insurance rose by 9.52 percent to close at 69k per share.

Mayer& Baker Nigeria was up by 8.26 percent to close at N4.85 per share.

Conversely, Wapic Assurance led the losers’ table, dropping by 8.89 percent to close at 41k per share.

Tripple Gee followed with a loss of 8.57 percent to close at 96k per share.

Royal Exchange decreased by 7.14 percent to close at 78k, while  Honeywell Flour Mills fell by 6.44 percent to close at N2.18 per share.

UPDC dropped by 5.94 percent to close at 95k per share.

Analysis of the market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 141.78 percent.

A total of 201.36 million shares valued at N5.67 billion were exchanged in 4,332 deals.

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