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NSE: Market capitalization loses N111bn, with Nestle leading

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

…As FG alarmed over extortion of Cash transfers beneficiaries***

Activities on the nation’s bourse remained on a negative posture on Thursday with the market capitalisation dropping further by N111 billion, amid sell pressure in blue chips.

The market capitalization which opened at N13.296 trillion shed N111 billion to close at N13.185 trillion.

In the same vein, the All Share Index (ASI) decreased by 229.18 points or 0.84 per cent to close at 27,085.69.

The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Nestle Nigeria, Beta Glass, Unilever Nigeria, Guinness Nigeria and Dangote Sugar Refinery.

The Chief Operating Officer, InvestData Ltd., Mr Ambrose Omordion, said he expected the trend to continue due to profit-taking.

Omordion also said that bargain hunters were taking advantage of low stock prices to position ahead quarterly financials.

“Discerning investors should latch onto it as a way of averaging down and recouping their investment immediately a recovery stage sets in,” he said.

Market breadth closed negative with 12 gainers compared with 18 losers.

Nestle one of the highly capitalised equities on the exchange led the losers’ chart in percentage terms, dropping 9.99 per cent to close at N1, 255.50 per share.

Beta Glass followed with a decline of 9.96 per cent to close at N53.80, while Courteville Business Solutions dipped 9.09 to close at 20k per share.

Unilever Nigeria lost 7.68 per cent to close at N24.65, while United Capital shed 4.31 per cent to close at N2 per share.

Conversely, Niger Insurance recorded the highest price gain of 10 per cent, to close at 22k per share.

Neimeth trailed with a gain of 9.09 per cent, to close at 48k while Caverton appreciated by 8.33 per cent to close at N2.60 per share.

Ecobank Transnational Incorporated (ETI) grew by 8.28 per cent to close at N7.85, while Law Union & Rock appreciated by 7.69 per cent to close at 42k per share.

Also read:  NSE opens trading for October with N154 billion loss

The banking stocks dominated the activity chart with Guaranty Trust Bank emerging the most active with 44.62 million shares valued at N1.24 billion.

FBN Holdings followed with 17.38 million shares worth N93.68 million, while Fidelity Bank accounted for 11.22 million shares, valued at N19.06 million.

Transcorp accounted for 9.81 million shares worth N9.98 million, while Access Bank transacted 9.39 million shares valued at N69.17 million.

In all, the total volume traded declined by 14 per cent as investors bought and sold 151.19 million shares, worth N2.52 billion achieved in 2,895 deals.

This was in contrast with 175.78 million shares valued at N2.568 billion traded in 3,539 deals on Wednesday.

In the meantime, the Federal Government on Thursday raised concerns over reports that some beneficiaries of its N5,000 monthly stipends under the Conditional Cash Transfer scheme are being shortchanged.

The Senior Adviser to President Buhari on Social Investments, Mrs Mariam Uwais revealed this on Thursday in Abuja at the launch of the Third-Party Monitors for the National Social Safety Nets Project.

Uwais said that although payment of the N5,000 monthly stipends to poor and vulnerable households was going seamlessly, there had been reports of extortions and bulling of beneficiaries in some communities.

“The reported attempts to extort or bully them comes from random quarters like the youths in the communities, sometimes it’s the community leaders and traditional rulers who levy them.

“It’s really important that we do not allow people to steal from the poor. So the challenge is how to support and protect them so that they are not duped by others,” she said.

Uwais said that the matter had been reported to relevant security agencies while the Independent Corrupt Practices Commission (ICPC) would be involved in cases where state officials were involved.

Also, the National Coordinator, National Social Safety Nets Coordinating Office (NASSCO), Mr Iorwa Apera said that involving Civil Society Organisations as Third-Party Monitors would ensure transparency and accountability in the cash transfer programme.

“We believe this process will encourage transparency and accountable behaviour from service providers.

“The Third-Party Monitoring is designed to have state-based Civil Society Organisations with experience and technical capacity, monitor the cash transfer programme in the states we operate.

“It will also serve as a mechanism through which beneficiaries and their communities can gain confidence in their ability to get quality service,” he said.

The National Cash Transfer Programme is one of the four social investment programmes anchored by the Federal Government.

The programme is designed to deliver cash transfers to beneficiary households in order to improve their well being, health and nutrition among others.

 

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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