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NSE: Market capitalization loses N103bn, drops to N12trn

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NSE: Investors lose N8 billion, as Market capitalisation slides to N12.878trn

…As NSE, LuxSE sign MoU on Green bond, to promote cross listing***

The market capitalisation of the Nigerian Stock Exchange (NSE) on Wednesday lost over N103 billion and dropped to N12 trillion, amid huge sell off of stocks of blue chip companies.

Specifically, the market capitalisation lost 0.79 per cent to close at N12.948 trillion against N13.051 trillion recorded on Tuesday. The All-Share Index, which also opened at 26,809.92 shed 210.98 points or 0.79 per cent to 26,598.94.

The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Nestle Nigeria, Dangote Cement, Guinness Nigeria, Nigerian Breweries and Presco.

The market recorded 12 gainers as against15 losers.

Learn Africa recorded the highest price gain in percentage terms to lead the gainers’ table with 9.80 per cent to close at N1.12 per share.

Chams and Cornerstone Insurance followed with a gain of 8.33 per cent each, to close at 26k and 39k per share respectively.

Jaiz Bank went up by 4.26 per cent to close at 49 kobo, while Access Bank appreciated by 2.80 per cent to close at N7.35, per share.

On the other hand, PZ led the losers’ chart decreasing by 10 per cent, to close at N6.30 per share.

Also read:  Market capitalisation sheds N27bn as NSE sustains bearish trend

NCR followed with a decline of 9.09 per cent to close at N4.50, while Guinness went down by 7.69 to close at N30 per share.

United Capital dipped 6.98 per cent to close at N2, while Neimeth International Pharmaceuticals shed 6.52 per cent to close at 43k per share.

However, the total volume closed on an upbeat note as investors bought and sold 591.04 million shares worth N7.398 billion in 2,907 deals.

This was in contrast with 151.71 million shares valued at N1.13 billion exchanged in 2,854 deals on Tuesday.

Transactions in the shares of Custodian Investment topped the activity chart with 348.05 million shares valued at N2.52 billion.

Access Bank followed with 52.58 million shares worth N383.44 million, while Lafarge Africa sold 28.15 million shares valued at N450.35 million.

Guaranty Trust Bank traded 21.84 million shares valued at N583.12 million, while Guinness Nigeria transacted 20.23 million shares worth N607.01 million.

Meanwhile, the Nigerian Stock Exchange (NSE) and the Luxembourg Stock Exchange (LuxSE) have signed a Memorandum of Understanding (MoU) to promote cross listing and trading of green bonds in Nigeria and Luxembourg.

The NSE said the MoU was signed at the annual meeting of the World Federation of Exchanges in Singapore on Wednesday.

The MoU further established an agreement for the two exchanges to collaborate with a view to sharing best practises and organising joint initiatives in their respective markets, the NSE noted in a statement in Lagos.

Mr Oscar Onyema, NSE’s Chief Executive Officer, was quoted as saying that the partnership reinforced its drive to foster the growth of sustainable finance in Nigeria.

“With the MoU, issuers will enjoy the benefit of increased visibility through the cross listing of their securities in Nigeria and Luxembourg.

“The partnership will further facilitate the growth of the Green Finance industry in Nigeria and ultimately deepen the Nigerian capital market through the mobilisation of the foreign green capital needed to fund sustainable projects in Nigeria,” Onyema said.

Mr Robert Scharfe, Chief Executive Officer, LuxSE also said sustainable finance was becoming a truly global movement.

“By joining forces with other exchanges to promote and facilitate green finance, we strive to accelerate the sustainable finance agenda and increase awareness of and interest in investment projects that support the sustainable development.

“We are pleased to cooperate with the Nigerian Stock Exchange to further strengthen sustainable finance in and between our markets,” Scharfe said.

The Nigerian Green bond market received international recognition following the issuance and listing of the ₦10.69bn Federal Government sovereign green bond in December 2017.

This issuance sparked significant interest from the international and local capital market communities as it opened new investment opportunities, especially for domestic investors.

It also increased their exposure to financial instruments that generate social and environmental impact.

 

 

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Economy

N672Bn: Sell-offs in Dangote Cement, MTN, Others Push Equity Down By 1.23%

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Stock Market Gains N18bn; FTN Cocoa Processors, Prestige Assurance lead Losers’ Chart 

…Dangote Cement, Conoil lead losers table

Selloffs in the shares of Dangote Cement, Conoil, and MTN Nigeria, among others, on Friday, dragged the equity market’s performance indices down by 1.23 percent to close the week’s trading sessions.

Specifically, investors lost N672 billion or 1.24 percent, as the market capitalisation, which opened at N54.707 trillion, closed at N54.035 trillion.

The All-Share Index also lost 1.24 percent or 1.228.32 points, to settle at 98,751.98, as against 99,980.3 recorded on Thursday.

Consequently, the Year-To-Date (YTD) return on the index dropped to 32.07 percent.

Selloffs in Dangote Cement, MTN Nigeria,  Fidelity Bank, Sovereign Trust Insurance, and Nestle made the market performance negative terrain.

Analysis of the market activities showed trade turnover drop when compared to the previous session, with the value of transactions down 22.01 percent.

A total of 367.62 million shares valued at N6.78 billion were exchanged in 9,168 deals, compared to 542.95 million shares valued at N8.70 billion exchanged in 9,650 deals posted previously

Meanwhile, Dangote Cement and Conoil led the losers’ table by percentage terms of 10 each to close at N135, and N90.90 per share respectively.

MTN trailed by 9.96 percent to close at N200.70, Thomas Wyatt Nigeria lost 9.78 percent to close at N2.03, while Sovereign Trust Insurance shed 6.52 percent to close at 43k per share.

On the gainers’ table, The Initiative Plc and FTN Cocoa Processors led by 10 percent each to close at N1.98 and N1.65 per share respectively.

Juli Plc followed closely by 9.97 percent to close at N3.75, Champion Breweries Plc gained 9.94 percent to close at N3.76 and PZ Nigeria rose by 9.93 percent to close at N33.75 per share.

On the activity table, Transcorp led in volume with trade of 57.00 million shares valued at N792.05 million, while Access Corporation sold 31.77 million shares worth N667.8 million.

United Bank of Africa (UBA) traded 28.50 million shares valued at N674.07 million and Fidelity Bank transacted 28.07 million shares worth N297.65.

Also, First City Monumental Bank(FCMB) sold 27.92 million shares worth N227.22 million.

However, market breadth closed positive with 43 gainers and eight losers on the trading floor

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Economy

Equity Market Recovers, Investors Gain N390bn

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Stock Market Gains N18bn; FTN Cocoa Processors, Prestige Assurance lead Losers’ Chart 

…Sunu Assurances, CWG Plc lead the losers’ table

The Nigerian equity market on Thursday recovered from its three sessions losses, making investors to gain N390 billion.

Improved buy interest in the shares of Guaranty Trust Holding Company(GTCO), Zenith Bank, FBN Holdings, NEM Insurance, Juli Plc, among other top traders, pushed the market performances up.

Specifically, the market capitalization, which opened at N54.317 trillion, gained N390 billion or 0.72 percent and closed at N54.707 trillion.

The All-Share index also rose by 0.72 percent or 714 points to close at 99,980.3 points, compared to 99,266.02 recorded on Wednesday.

Consequently, the Year-To-Date return rose to 33.71 percent.

Stock Market Gains N18bn; FTN Cocoa Processors, Prestige Assurance lead Losers’ Chart 

Analysis of the market activities indicated that trade turnover settled higher relative to the Wednesday 5 session, with the value of transactions increased by 49.27 percent.

The market breadth closed positive with 35 gainers and 19 laggards on the trading floor.

On the gainers table, GTCO, NEM Insurance, Juli and United Bank of Africa(UBA) led in percentage terms of 10 each to close at N36.60, N6.60, N3.41 and N22.55 per share, respectively.

ALSO READ: NAFDAC NATIONAL STRATEGIC ACTION PLAN: Partners With Pharmaceutical Supply Chain Stakeholders

Champion Breweries also gained 9.97 percent to close at N3.42 per share.

On the other hand, Sunu Assurances led the losers’ table by 10 percent to close at N1.17, followed by Eterna Plc by 9.81 percent to close at N14.25 per share.

CWG Plc trailed by 9.76 percent to close at N9.55, Morison Industries Plc shed 9.58 percent to close at N1.51 and Cadbury Nigeria lost 9.52 percent to close at N19 per share.

A total of 542.95 million shares valued at N8.70 billion were exchanged in 9,650 deals, compared to 396.23 million shares valued at N5.83 billion exchanged in 10,549 deals posted on Wednesday.

On the activity table, UBA led in volume and value with 93.71 million shares traded in deals worth N2.07 billion, Transcorp followed with 54.08 million shares traded in a value of N692.19 million.

Japaul Gold Group sold 34.33 million shares worth N65.77 million, Sterling Nigeria transacted 28.49 million shares valued at N129.15 million and Fidelity Bank sold 27.09 million shares worth N270.74.

Meanwhile, market breadth closed positive with 35 gainers and 19 laggards on the trading floor.

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Economy

NGX Opens Week Weakly, As Market Sheds N1.82trn

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Stock Market Gains N18bn; FTN Cocoa Processors, Prestige Assurance lead Losers’ Chart 

 …MTN and Dangote Cement lead the Losers’ Table 

Transactions resumed on the Nigerian Exchange Ltd. (NGX), on Monday, on a negative posture with the market indices declining by 3.15 percent due to selloffs.

Specifically, the market capitalisation which opened at N57.849 trillion, shed N1.82 trillion or 3.15 percent to close at N56.028 trillion.

Similarly, the All-Share Index(ASI) also dropped by 3.15 percent or 3,330 points to settle at 102,393.23, compared to 105,722.78 achieved on Friday.

As a result, the ASI Year-To-Date (YTD) return fell to 36.94 percent.

The market was dragged down due to selloffs in the shares of MTN Nigeria, Dangote Cement, and Zenith Bank.

On the losers’ table, MTN and Dangote Cement led in percentage of 10 each to close at N247.50 and N686.70 per share, respectively.

NGX Group trailed by 9.76 percent to close at N22.20, NEM insurance dropped 9.74 per cent to close at N6.95, while Tantalizers lost 9.52 percent to close at 38k per share.

On the contrary, Juli Plc led the gainers table by 9.52 percent to close at N1.61.

Dangote Cement followed with an increase of 8.64 percent to close at 88k per share.

Sunu Assurances garnered 6.74 percent to close at N1.90, while ABC Transport gained 6.67 percent to close at 96k per share.

Nigerian Aviation Handling Company Plc (NAHCO) also appreciated by 5.86 percent to close at N30.70 per share.

On the activity chart, Guaranty Trust Holding Company (GTCO) led with a trade of 28.85 million shares valued at N1.13 billion.

Also, Transcorp sold 20.14 million shares worth N275.93 million, while Access Holdings traded 15.90 million shares worth N359.5 million.

FBN Holdings sold 15.87 million shares worth N450.74 million and Zenith Bank transacted 15.84 million shares valued at N568.04 million.

Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 7.58 percent.

Meanwhile,  273.85 million shares valued at N7.44 billion were exchanged in 9,688 deals, compared to 342.52 million shares worth N8.05 billion in 8,395 deals on Friday.

Meanwhile, the market breadth closed negative with 36 declining stocks and 16 that appreciated.

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