Business

Bears persists to second consecutive week at NGX

Kehinde Akinseinde-Jayeoba
Equities market opens week bullish as investors earn N124bn, Equities investors earn N285.4bn in 5 days amid buying interest, Equities investors lose N163.6bn in 5 days amid sell-off activities, Gains in Dangote Cement shares push market to positive close, Market opens week flat, as investors stakes 103.3m shares worth N2.14bn, Equities market reverse previous day's gain as investors lose N24.1bn, Investors earn N7.2bn, Sell-offs on Airtel Africa, Equities investors lose N18.1bn , MTNN losses further dip, Geregu Power's 2.5bn shares , Equities investors earn N103.4bn as local bourse rebounds by 0.4%, BUA Cement losses further dips , Equities investors lose N19bn, Equities market dips by 0.10% as investors lose N28bn, Local stock market decline, Bullish sentiment dominates market, stock market closed week, Bears persists to second consecutive week, Local stock market closes in red despite robust trade, stock market hits 7th-day, Local stock market opens week weaker by 1.2% as investors lose N312bn, Equities investors lose N6bn, Equities investors lose N90bn as market dips by 0.3%, Banking stocks lift local bourse marginally, as investors earn N12bn, Equities investors gain N5.6trn, stock market closes flat, stock market second loss, Bulls persist at NGX, Profit-taking takes up activities , Bears persist at NGX , Equities investors earn N158bn, Investors lose N22bn , capital investment in Q1 2022, Nigerian equities market opens, Nigerian equities market opens June bearish as ASI dips further by 1.24%, Equities investors earn N596bn, stock market halts bearish, Local stock market, stock market opens week, Investors gain N262.8bn as local stock market hits 14yrs high. Equities investors gain N1.45trn, Equities investors earn N143bn as bullish sentiment persists at NGX, Equities investors earn N5.21bn as ASI adds 2bps, Oil stocks push market, The Nigerian equities market posted the biggest single day gain in three months as the benchmark index inched up 1.25 per cent to close at 48,138.71 basis points, Equities investors earn N19.1bn , Investors earn N87.48bn, Negative sentiment persists at NGX as ASI further shed 0.48%, Equities investors lose N83bn, Nigerian equities investors, Investors lose N25bn , Access Bank stocks, Custodian records revenue growth, Local stock market , Equities investors earn N72bn as market reverses 5th-day loss, Bears maintain on stock market, Nigerian stock market, Equities investors lose N66bn as market dips by 0.26%, Equities investors lose N22bn, NGX: Equities investors earn N51bn to open week bullish, Equities investors gain N23bn as activities go uptick, Equities investors earn N54bn, Equities investors earn N54bn , Equities market bows to profit-taking, Local stock market maintains, Equities investors gain N2.3trn in January as bulls persist at NGX, Equities investors gain N137bn, Local stock market halts, Bullish trend wanes, Equities investors gain N810bn in 5 days as market hits 13-year high, Equities investors, Equities investors earn N323bn, Local stock market , Bulls persist at stock market, Equities investors gain N1.24trn, Equities market closed week, Local stock market maintains, Selloffs of banking stocks, Investors earn N253bn , Stock market rebounds , Local stock market sheds, Investors lose N391bn, Local stock market, Bears persists at NGX , Sell-off on MTNN stocks, Local stock market opens , Investors gained N54bn in 5 days amidst renewed buy sentiments, NGX benchmark index dips , Equities investors lost N28bn in 5 days amidst positive outlook, Equities investors lose , Airtel stocks push market , Stock market begins week on red zone as investors lose N12bn, Equities Investors gain N252bn as bulls persists at NGX, Bearish moments persist, tepid activities, Investors earn N27bn as bulls persists at NGX, Investors' interest in high cap , Local stock market bows , NGX: Market sustains positive sentiments, posts 0.4 per cent gain, Profit-taking dips market , Equities investors gained N340bn, Airtel Africa pushes market's worth, NGX: Investors earned N350bn in August, analysts predict positive H2, NGX ASI crosses 40,000 points as bulls persists, Local stock , market posts ASI shed 0.05%, dips market further by 0.1%, NGX: Banking stocks’ loss reverse gains as ASI sheds 0.1%, Equities market records marginal loss amidst robust activities, Profit taking takes toll, Equities investors lose N24.4bn

The local stock market last week was not immune to the rout in global equities, as bearish sentiments persisted for the second consecutive week.

Accordingly, the All-Share Index shed 0.59 per cent week-on-week (W-o-W) to close at 49,370.62 points.

Investors, therefore, lose N158 billion from their net worth as market capitalisation follow similar trend to close the week at N26.629 trillion.

Particularly, sell-offs in bellwether stocks, Okomu Oil, Presco, Access Holdings and Lafarge Africa drove the weekly loss.

Sectoral performance was mixed, as the Banking index recorded a weekly gain of 0.7 per cent.The

Consumer Goods index up 3.0 per cent and the Industrial Goods index rose by 0.3 per cent W-o-W. On the other hand, the Insurance index dipped by 1.4 per cent, while Oil & Gas index shed 0.9 per cent W-o-W.

The market breadth for the week was negative as 21 equities appreciated in price, 41 equities depreciated in price, while 94 equities remained unchanged. Prestige Assurance led the gainers’ table by 18.18 per cent to close at 52 kobo, per share. Neimeth International Pharmaceuticals followed with a gain of 9.29 per cent to close at N1.53, while Sovereign Trust Insurance went up by 8.00 per cent to close to 27 kobo, per share.

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On the other side, Japaul Gold & Ventures led the decliners table by 23.68 per cent to close at 29 kobo, per share. Courteville Business Solutions followed with a loss of 21.43 per cent to close at 44 kobo, while University Press declined by 18.87 per cent to close at N1.72, per share.

Overall, a total turnover of 823.005 million shares worth N12.228 billion in 17,482 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 1.511 billion shares valued at N13.547 billion that exchanged hands the previous week in 20,074 deals.

The Financial Services Industry (measured by volume) led the activity chart with 561.683 million shares valued at N5.576 billion traded in 8,388 deals; contributing 68.25 per cent and 45.60 per cent to the total equity turnover volume and value respectively.

The ICT Industry followed with 91.819 million shares worth N1.478 billion in 1,532 deals, while the Consumer Goods Industry traded a turnover of 42.546 million shares worth N3.396 billion in 2,639 deals. Trading in the top three equities namely FBN Holdings (FBNH), e-Tranzact International and United Bank for Africa (UBA) accounted for 323.474 million shares worth N2.520 billion in 1,457 deals, contributing 39.30 per cent and 20.61 per cent to the total equity turnover volume and value respectively.

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