Business

Equities investors gain N810bn in 5 days as market hits 13-year high

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 Nigerian equities market maintained its positive trajectory last week, as the local bourse peaked highest in 13 years.

Specifically, the benchmark index of the Nigerian Exchange Limited (NGX) closed the week past 45,000 basis points to settle at 45,957.35 basis points at the end of trading activities on Friday.

The stocks market hit a 13-year high having experienced four straight days of solid gains rallying to hit the highest mark since 2008.

Market Capitalization of the local bourse settled at N24.761 trillion as investors earned N810 billion during the week, just as All-Share Index (ASI) went up by 3.38 per cent Week-on-Week (WoW) to close at 45,957.35 points.

Given the bullish sentiment, most sector gauges tracked closed in green. Particularly, the NGX Oil & Gas, NGX Banking, NGX Consumer Goods index and the NGX Industrial indices rose by 5.21 per cent, 1.66 per cent, 1.03 per cent and 4.37 per cent respectively to close at 379.17 points, 419.14 points, 564.47 points and 2,178.09 points respectively. On the flip side, the NGX Insurance index lost 0.24 per cent to close at 192.71 points.

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The market breadth for the week was positive as 47 equities appreciated at price, 23 equities depreciated in price, while 86 equities remained unchanged. Courteville Business Solutions led the gainers’ table by 24.32 per cent to close at 46 kobo, per share. Northern Nigeria Flour Mills (NNFM) followed with a gain of 20.61 per cent to close at N7.90, while Eterna went up by 13.19 per cent to close to N6.35, per share.

On the other side, Veritas Kapital Assurance and Regency Assurance led the decliners table by 8.70 per cent each to close at 21 kobo and 42 kobo, respectively, per share. NEM Insurance followed with a loss of 6.57 per cent to close at N3.70, while Transnational Corporation of Nigeria (Transcorp) declined by 5.26 per cent to close at N1.08, per share.

Overall, a total turnover of 1.858 billion shares worth N47.486 billion in 20,861 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 1.600 billion shares valued at N32.716 billion that exchanged hands the previous week in 22,607 deals.

Giving a forecast of what to expect in the week, analysts maintained thumbs up as they expect the stock market to continue in the green zone amid positive investors sentiments.

Analysts at Cordros Securities Limited and Cowry Assets Management Limited believe investors will be focused on the outcome of the MPC meeting to gain further clarity on the movement of yields in the fixed income (FI) market.

“Consequently, we expect a ‘choppy theme’ as cautious trading will likely dominate the market. Notwithstanding, we advise investors to take positions in only fundamentally justified stocks as the weak macro story remains a significant headwind for corporate earnings,” Cordros stated in its report.

“In the new week, we expect the equities market index to move northward amid positive investor’s sentiment. Investors are expected to invest more in the equities market if MPC holds rate constant,” Cowry report said.

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