By Dipo Olowookere
The year 2021 on the floor of the Nigerian Exchange (NGX) Limited was interesting because of some intrigues that occurred, especially towards the end.
The year closed with a shocker when it was announced that a two-year-old bank, Titan Trust Bank, was acquiring a 104-year-old Union Bank of Nigeria.
This was not a transaction that was expected by observers when the likes of Zenith Bank and Access Bank were thought to be in the best position to shoot the shot.
Another was the crisis at the oldest bank in the country, First Bank, which led to the sacking of the board and that of its parent company, FBN Holdings, leading to the acquisition of a substantial stake by Mr Femi Otedola.
This sparked a boardroom leadership tussle between Mr Otedola and Mr Tunde Hassan-Odukale, chairman of FBN Holdings.
These and others affected the prices of shares on the NGX trading platform and Business Post is bringing the 10 worst performing stocks and 10 best performing stocks in the outgone year, where the exchange grew by 6.07 per cent.
The worst performing stock last year was SCOA Nigeria as its value went down by 64.51 per cent to settle at N1.04 compared with the previous year’s N2.93.
CWG dropped 55.91 per cent to N1.12 from N2.54, Sunu Assuances depreciated by 55.00 per cent to trade at 45 kobo compared with its value in 2020 at N1.00, FTN Cocoa lost 40.91 per cent to sell for 39 kobo versus 66 kobo, while AIICO Insurance declined by 38.05 per cent to 70 kobo from N1.13.
In addition, Japaul fell by 37.10 per cent to 39 kobo from 62 kobo, Vanleer lost 33.54 per cent to sell for N5.45 in contrast to N8.20 it closed 2020, DAAR Communications shed 33.33 per cent in the year to 20 kobo from 30 kobo, Enamelware decreased by 26.70 per cent to N16.20 from N22.10, while Sterling Bank depreciated by 25.98 per cent to N1.51 from N2.04.
On the flip side, Morison Industries finished the year as the best performing stock with a price appreciation of 306.12 per cent to N1.99 from 49 kobo.
Royal Exchange grew by 238.46 per cent to 88 kobo from 26 kobo, Lasaco Assurance rose by 200.00 per cent to N1.05 from 35 kobo, Vitafoam improved by 188.46 per cent to N22.50 from N7.80, while Honeywell Flour jumped by 183.33 per cent to N3.40 from N1.20.
Further, Champion Breweries chalked up 173.26 per cent to trade at N2.35 versus 86 kobo it closed 2020. NEM Insurance gained 151.40 to sell for N4.50 in contrast to the preceding year’s N1.79, Consolidated Hallmark Insurance grew by 146.88 per cent to 79 kobo from 32 kobo, Regency Assurance appreciated by 131.82 per cent to 51 kobo from 22 kobo, while University Press rose by 129.69 per cent to N2.94 from N1.28.
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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via email@example.com
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By Adedapo Adesanya
FrieslandCampina Wamco Nigeria Plc dragged the NASD Over-the-Course (OTC) Securities Exchange downwards by 0.31 per cent on Monday, August 15.
The milk-producing company recorded a drop in its share price by N1.60 to sell at N88.75 per unit compared with the preceding session’s N90.35 per unit.
As a result of this, the NASD unlisted securities index (NSI) depleted by 2.35 points to 759.83 points from 762.18 points, while the market capitalisation of the bourse dwindled by a sum of N3.1 billion to wrap the day at N1.000 trillion in contrast to N1.003 trillion.
During the session, there was a price gainer and it was Niger Delta Exploration and Production (NDEP) Plc, which saw its value rise by 16 Kobo to trade at N210 per unit in contrast to N209.84 per unit of the preceding session.
Yesterday, the volume of trades rose by 97.7 per cent as a total of 119,564 units of shares exchanged hands compared with the 60,475 units transacted last Friday.
At the close of business, the trading value also jumped by 209.6 per cent to N23.2 million from the previous session’s N7.5 million, while the number of deals decreased by 46.2 per cent to seven deals from 13 deals.
AG Mortgage Plc finished the session as the most traded stock by volume with the sale of 2.3 billion units valued at N1.2 billion, followed by Central Securities Clearing System (CSCS) Plc with the sale of 686.5 million units worth N14.2 billion, while Food Concepts Plc was in third place with the sale of 147.8 million units valued at N128.4 million.
Data from the exchange indicated that the most traded stock by value at the close of business yesterday on a year-to-date basis was still CSCS Plc with 686.5 million units exchanged for N14.2 billion, followed by VFD Group Plc with a turnover of 11.1 million units worth N3.3 billion, and FrieslandCampina WAMCO Nigeria Plc with a turnover of 13.9 million units valued at N1.7 billion.
By Adedapo Adesanya
The local currency closed stronger against the greenback at the Peer-to-Peer (P2P) window of the foreign exchange (FX) market on Monday, appreciating by N4 to sell for N687/$1 compared with the previous session’s N491/$1.
However, in the Investors and Exporters (I&E) window, the Naira depreciated against the United States Dollar by 38 Kobo or 0.09 per cent to trade at N430.00/$1 compared with the previous value of N430.38/$1 and an increase in the demand for forex at the market segment.
According to data obtained from FMDQ Securities Exchange, the turnover for the first trading session of the week stood at $134.30 million, $84.99 million or 190.00 per cent higher than the preceding session’s $46.31.
In the interbank segment of the market, the Naira witnessed appreciated against the Pound Sterling by N3.14 to wrap up at N509.96/£1 versus N513.10/£1 and against the Euro, the Nigerian currency closed stronger by N1.89 to sell for N431.89/€1 versus N433.78/€1.
At the black market, the domestic currency depreciated against the US Dollar yesterday by N2 to quote at N679/$1 in contrast to the previous trading day’s rate of N677/$1.
Meanwhile, at the crypto market, sentiments were weak as nine of the 10 benchmarked cryptocurrency tokens were bearish following persistent pressure on the market.
Solana (SOL) depreciated by 6.4 per cent to sell at $43.03, Litecoin (LTC) lost 5.7 per cent to trade at $60.35, Ethereum recorded a 5.3 per cent loss to settle at $1,867.23, Bitcoin (BTC) went south by 3.5 per cent to trade at $23,914.00, while Cardano (ADA) declined during the session by 3.5 per cent to sell at $0.5506.
Furthermore, Ripple (XRP) recorded a 3.1 per cent slide to trade at $0.3705, Shiba Inu (SHIB) dropped 2.4 per cent to finish at $0.00001579, Binance Coin (BNB) recorded a 2.1 per cent decline to trade at $316.15, Dogecoin (DOGE) followed with 0.7 per cent depreciation to close at $0.0788, while the US Dollar Tether remained flat at $1.00 at the close of business.
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited closed 0.07 per cent lower on Monday after the National Bureau of Statistics (NBS) announced that the country’s inflation increased by 19.64 per cent in July 2022.
The inflation numbers triggered profit-taking in the market yesterday, causing Nigerian stocks to remain in the red territory at the close of transactions.
The prices of food and services in the country have been on the high side for months and yesterday, the consumer goods sector was mainly responsible for the downfall of the stock exchange.
The counter lost 0.33 per cent and erased the gains posted by the other sectors. The industrial goods space grew by 0.17 per cent, the banking index rose by 0.15 per cent, the energy sector increased by 0.03 per cent, while the insurance counter closed flat.
At the close of business, the All-Share Index (ASI) went down by 34.64 points to 49,629.43 points from 49,664.07 points, while the market capitalisation depreciated by N18 billion to N26.769 trillion from N26.787 trillion.
A total of 17 stocks finished on the losers’ log on the first trading session of the week, while 12 stocks were on the gainers’ table.
Presco recorded the biggest fall as it declined by 9.97 per cent to N142.60. Multiverse lost 7.79 per cent to trade at N2.25, Ikeja Hotel depreciated by 5.51 per cent to N1.20, Dangote Sugar fell by 4.19 per cent to N16.00, while Jaiz Bank decreased by 3.30 per cent to sell for 88 Kobo.
On the other side, Neimeth led the gainers’ group with a price appreciation of 9.29 per cent to trade at N1.53, Unity Bank improved by 4.65 per cent to 45 Kobo, FCMB gained 4.18 per cent to quote at N3.49, Zenith Bank grew by 2.12 per cent to N21.70, while Transcorp increased by 0.93 per cent to N1.08.
Business Post reports that the activity level was low during the session as 210.8 million shares worth N2.2 billion were traded in 4,122 deals compared with the 759.3 million shares worth N5.3 billion traded in 4,076 deals at the earlier trading day, indicating a decline in the trading volume and value by 71.90 per cent and 58.78 per cent respectively and an increase in the number of deals by 1.13 per cent.
The most traded stock for the day was eTranzact, which sold 52.6 million units valued at N119.8 million and was trailed by FBN Holdings, which traded 23.1 million units worth N249.8 million. UBA exchanged 21.9 million equities worth N153.5 million, GTCO transacted 15.5 million stocks for N315.9 million, while Transcorp traded 12.7 million stocks for N13.7 million.
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20 Worst Performing and Best Performing Nigerian Stocks in 2021 – Business Post Nigeria