Investors recover N441b amid gains in MTNN, 22 stocks

…As NGX records N318.52b listings in Q1, 2023
The Nigerian Exchange Limited (NGX) sustained gains at the close of transactions yesterday, as price appreciation in MTN Nigeria and 22 stocks lifted market capitalisation further by N441 billion.

At the close of trading, market capitalisation of listed equities increased by 1.51 per cent to close at N29.642 trillion from N29.201 trillion reported the previous day. Also, the All Share Index increased by 808.40 basis points to 54413.20 points from 53603.80 points reported on Wednesday.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; MTN Nigeria, NGX Group, Ecobank TransNational Incorporated (ETI), Oando, GTCO and NASCON.

As measured by market breadth, market sentiment was positive, as 23 stocks appreciated in price, while 10 constituted the losers’ chart.

Analysts at Vetiva Dealings WTD return still in the red, despite two consecutive sessions of positive activity. “In the absence of any significant price upside in the large-cap counters like we saw today, we expect the market to close the week in the red,” they said.

Oando Plc led gainers’ chart, appreciating by 9.98 per cent to close at N5.40 per share while SUNU Assurance followed with a gain of 9.09 per cent to close at N0.48 kobo. MTNN added 8.89 per cent to close at N240. Chi Plc gained 8.77 per cent to close at 63 kobo, Royal Exchange added 8.70 per cent to close at 75 kobo.

Linkage Assurance added 7.50 per cent to close at 43 kobo, while Champion Breweries added 6.89 per cent to close at N5.12 kobo.

Ecobank TransNational Incorporated garnered 6.64 per cent to close at N11.25 kobo. NGXGroup increased by 4.48 per cent to close at N28. African Prudential improved by 4.35 per cent to close at N6.

Mutual Benefit Assurance increased by 3.23 per cent to close at 32 kobo. UPDC appreciated by 3.13 per cent to close at 99 kobo. Nigerian Aviation Handling Company (NAHCO) also garnered 2.81 per cent to close at N8.10 kobo.

However, PZ Cussons recorded the highest loss, declining by 5.88 per cent to close at N11.20 kobo. Chams Plc trailed with a loss of 4.17 per cent to close at 23 kobo. Unilever Nigeria Plc fell by 3.57 per cent to close at N13.50 kobo. Japaul Gold shed 3.45 per cent to close at 28 kobo.

AIICO fell by 3.33 per cent to close at 58 kobo, while UACN shed 2.78 per cent to close at 58 kobo. UACN depreciated by 2.78 per cent to close at N8.75 kobo. Jaiz Bank declined by 1.10 per cent to close at 90 kobo. Mansard lost 1.04 per cent to close at N1.90 kobo. Cutix shed 86 per cent to close at N2.30 kobo. Living Trust also lost 65 per cent to close at N3.05 kobo.

On the activity chart, investors traded 973.642 million shares valued at N4.227 billion in 3718 deals against 236.066 million shares valued at N3.258 billion that changed hands in 3906 deals on Wednesday.

Transactions in the shares of TransNational Corporation of Nigeria led activity during the day with 455.534 million shares valued at N669.227 million, Living Trust followed with 254.768 million shares worth N775.165 million.

Fidelity Bank traded 143.346 million shares worth N746.823 million, United Bank for Africa exchanged 16.090 million shares worth N128.720 million while Zenith traded 14.038 million shares valued at N363.995 million.

Meanwhile, the exchange has recorded a total of N318.52 billion listings in equities, fixed income, mutual funds and derivatives categories in the first quarter (Q1) 2023.

The X-Compliance report is a transparency initiative of NGX designed to maintain market integrity and protect the investors by providing compliance-related information on all listed companies. Through the report, NGX ensures that it provides timely information to investors to aid their capital allocation decisions and enable a proper functioning capital market.

According to the NGX report released yesterday, N11.23 billion constituted the Federal Government of Nigeria (FGN) bond listings made up of FGN savings bonds with maturities ranging between 2024 and 2026.

The NGX also disclosed that Lagos state government issued the only bond by a sub-sovereign entity with its N137.33 billion series 1V, 10-year 13 per cent, fixed rate bonds due 2031 under its N500 billion debt issuance program.

Furthermore, the corporate bond segment recorded N112.42 billion senior unsecured bond listing from Dangote Industries Funding Plc and N31.36 billion in sukuk issuances from Taj Bank and Family Homes under their respective sukuk issuance programmes.

FTN Cocoa Processors Plc and Neimeth International Pharmaceuticals Plc floated supplementary listings of N850 million and N3.68 billion of shares respectively. Africa Plus Partners Nigeria Limited also listed its mutual fund, Africa Infra Plus 1, the first Carbon Plus naira denominated fund to be listed on the Exchange, at a market value of N21.65 billion.