All-Share Index Records 0.07% Contraction – Business Post Nigeria

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By Dipo Olowookere
The All-Share Index (ASI) of the Nigerian Exchange (NGX) Limited depreciated by 0.07 per cent or 35.21 points on Monday to 49,440.21 points from 49,475.42 points.
The decline suffered by the exchange yesterday was inflicted by Seplat, GTCO and others, reducing the market capitalisation by N19 billion to N26.667 trillion from N26.686 trillion.
ABC Transport topped the losers’ log during the session after it lost 10.00 per cent to settle at 27 Kobo. University Press declined by 9.44 per cent to N1.63, Mutual Benefits went down by 6.90 per cent to 27 Kobo, RT Briscoe decreased by 6.25 per cent to 30 Kobo, while Courteville dropped 6.12 per cent to 46 Kobo.
On the other hand, eTranzact topped the gainers’ table as it gained 9.97 per cent to close at N3.20, Academy Press rose by 9.52 per cent to N1.84, Vitafoam grew by 5.00 per cent to N21.00, Honeywell Flour appreciated by 3.36 per cent to N2.46 and Cornerstone Insurance garnered 3.33 per cent to quote at 62 Kobo.
During the session, 67.4 million shares worth N1.5 billion were transacted in 3,386 deals compared with the 107.5 million shares worth N1.2 billion traded in 3,303 deals in the preceding session, indicating a decline in the trading volume by 37.33 per cent, an increase in the trading value by 28.70 per cent and a growth of 2.51 per cent in the number of deals.
FBN Holdings was the most traded stock as it sold 9.7 million units valued at N96.6 million, Zenith Bank traded 9.3 million units worth N182.4 million, GTCO exchanged 6.1 million units valued at N120.4 million, Mutual Benefits sold 4.5 million units worth N1.3 million, while Sovereign Trust Insurance transacted 3.0 million units valued at N797,719.
Yesterday, the energy sector depreciated by 1.94 per cent, the insurance space fell by 0.25 per cent, the banking index appreciated by 0.28 per cent, the consumer goods counter rose by 0.17 per cent and the industrial goods sector closed flat.
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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 dipo.olowookere@businesspost.ng
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By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange continued its stay in the bearish territory as it dropped 0.54 per cent on Wednesday, September 6, due to negative price movements in Central Securities Clearing System (CSCS) Plc, NASD Plc, and FrieslandCampina WAMCO Nigeria Plc.
CSCS Plc went down by 97 Kobo in the midweek to sell at N12.53 per unit compared with the previous day’s N13.50 per unit, NASD Plc lost 75 Kobo to trade at N13.00 per share versus N13.75 per share and FrieslandCampina depreciated by 5 Kobo to settle at N81.00 per share in contrast to Tuesday’s N81.05 per share.
The decline in the share prices of the three securities reduced the value of the NASD OTC bourse yesterday by N5.32 billion to N968.19 billion from N973.51 billion and sliced the NASD Unlisted Securities Index (NSI) by 4.03 points to 735.48 points from the 739.51 points it closed in the previous session.
However, the bourse witnessed a surge in the volume of securities traded by investors by 568.9  per cent to 161,681 units from 24,170 units, but the value of the transactions went down by 34.8 per cent to N3.0 million from N4.6 million, with the number of deals carried out by the market participants growing by 55.6 per cent to 14 deals from the nine deals executed a day earlier.
AG Mortgage Plc ended the trading day as the most active stock by volume (year-to-date) with a turnover of 2.3 billion units valued at N1.2 billion, CSCS Plc trailed with the sale of 687.6 million units valued at N14.3 billion, and Mixta Real Estate Plc sat in third place with 178.1 million units worth N313.4 million.
The most active stock by value (year-to-date) at the close of business yesterday was still CSCS Plc with the sale of 687.6 million units worth N14.3 billion, VFD Group Plc was in second place with 27.7 million units valued at N7.4 billion and FrieslandCampina occupied the third place for trading 14.3 million units valued at N1.7 billion.
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By Dipo Olowookere
Investors trading stocks at the Nigerian Exchange (NGX) Limited lost N12 billion on Wednesday on the back of fresh profit-taking.
Also, the market was significantly quiet during the session as traders stayed away to monitor happenings in the global space, especially in the United States, where the Federal Reserve further increased interest rates to curb rising inflation.
Yesterday, only 51.9 million shares worth N590.0 million exchanged hands in 2,981 deals compared with the 147.6 million shares worth N2.4 billion transacted on Tuesday in 3,323 deals, indicating a decline in the trading volume, value and number of deals by 64.85 per cent, 75.35 per cent and 10.29 per cent, respectively.
Zenith Bank, which recorded the highest volume of trades, sold 6.3 million shares valued at N125.5 million and was followed by GTCO, which sold 5.0 million stocks for N94.9 million. Sterling Bank transacted 4.9 million equities for N7.3 million, Fidelity Bank exchanged 3.9 million shares for N13.6 million, while Transcorp traded 3.0 million equities worth N3.1 million.
Business Post reports that the banking sector witnessed bargain hunting in the midweek session, but the 0.49 per cent rise it reported could not save the market from falling.
This was because the losses posted by the other sectors were too heavy on the exchange as the insurance space crashed by 1.21 per cent, the energy counter weakened by 0.10 per cent, the industrial goods sector fell by 0.03 per cent, and the consumer goods sector depreciated by 0.02 per cent.
When the market closed for the day, the All-Share Index (ASI) was down by 0.05 per cent or 23.40 points to 49,421.91 points from 49,445.31 points, while the market capitalisation decreased by N12 billion to N26.658 trillion from N26.670 trillion.
The market breadth was negative yesterday as there were 12 price losers and 10 price gainers.
Academy Press lost 9.78 per cent to finish at N1.66, NEM Insurance dropped 6.08 per cent to settle at N5.25, Cadbury Nigeria declined by 5.45 per cent to N13.00, Jaiz Bank retreated by 4.76 per cent to 80 Kobo, while NGX Group went down by 4.38 per cent to N18.55.
On the flip side, Unity Bank appreciated on Wednesday by 10.00 per cent to quote at 44 Kobo, Multiverse improved by 9.82 per cent to N3.13, Fidelity Bank grew by 5.46 per cent to N3.67, Honeywell Flour expanded by 3.98 per cent to N2.35, and Chams rose by 3.45 per cent to 30 Kobo.
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By Adedapo Adesanya
The Naira weakened against the United States Dollar at the Investors and Exporters (I&E) window of the foreign exchange market on Wednesday, September 21, by 25 Kobo or 0.06 per cent to trade at N436.50/$1 compared with the previous day’s N436.25/$1.
Business Post reports that sustained demand pressure watered down the value of the Nigerian currency during the session, though the value of transactions decreased by 5.3 per cent or $7.54 million to $133.97 million from $141.51 million.
However, in the black market, the local currency appreciated against the greenback by N1 yesterday to sell at N712/$1 compared with the preceding session’s N713/$1.
Also, in the Peer-to-Peer (P2P) forex window, the value of the Nigerian currency appreciated against the US Dollar by N5 to quote at N725/$1 in contrast to the N730/$1 it was sold a day earlier.
Furthermore, the domestic currency made more gains in the interbank segment of the market against the British Pound Sterling and the Euro in the midweek session.
Against the Pound Sterling, the Naira was strengthened by 72 Kobo to wrap up at N488.59/£1 versus Tuesday’s N489.31/£1 and against the Euro, the Nigerian currency improved by N2.83 to settle at N426.75/€1 versus N429.58/€1.
Meanwhile, the cryptocurrency market recorded a bullish outcome, with eight of the 10 tokens tracked by Business Post pointing northwards.
Litecoin (LTC) jumped by 3.8 per cent to trade at $54.34, Cardano (ADA) recorded a 1.9 per cent climb to sell at $0.4528, Bitcoin (BTC) made a 1.3 per cent gain to quote at $19,311.70, Binance Coin (BNB) appreciated by 1.1 per cent to trade at $271.40, Dogecoin (DOGE) added a 1.0 per cent to its value to sell for $0.0596, Solana (SOL) jumped by 0.9 per cent to settle at $32.28, Ripple (XRP) recorded a 0.8 per cent appreciation to trade at $0.4154, and Binance USD (BUSD) recovered 0.02 per cent to sell at $0.9999.
However, the value of Ethereum (ETH) waned by 0.4 per cent to sell at $1,347.76, while the US Dollar Tether (USDT) closed flat at $1.00.
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