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NSE market indices down 0.07%, as MPC retains policy rates
The Nigerian Stock Exchange (NSE) opened the week on Monday with a loss of 0.07 per cent, just as the Monetary Policy Committee (MPC) retained key policy variables.
The MPC committee members at the end of the one-day virtual policy meeting retained all policy parameters.
They maintained the Monetary Policy Rate (MPR) at 12.5 per cent; the asymmetric corridor around the MPR at +200/-500bps; Cash Reserves Ratio (CRR) at 27.5 per cent; and liquidity ratio at 30 per cent.
Consequently, the All-Share Index lost 18.08 points or 0.07 per cent to close at 24,269.58 compared with 24,287.66 on Friday.
Also, the market capitalisation dropped by nine billion naira to close at N12.660 trillion in contrast with N12.669 on Friday.
The downturn was impacted by losses recorded in large and medium capitalised stocks, amongst which are; Cutix, Neimeth International, Zenith Bank, Ecobank Transnational Incorporated and Access Bank.
Analysts at Afrinvest Limited expected bargain hunting to drive gains in the next trading session.
Market breadth was slightly negative, with 12 gainers versus 13 losers.
Neimeth International Pharmaceuticals led the losers’ chart in percentage terms, dropping by 10 per cent, to close at N1.35, per share.
Cutix followed with 9.89 per cent to close at N1.64, while Chams lost 4.35 per cent to close at 22k, per share.
Lasaco Assurance dropped 3.85 per cent to close at 25k, while Sterling Bank shed 3.20 per cent to close at N1.21, per share.
On the other hand, GlaxoSmithKline dominated the gainers’ chart in percentage terms, gaining 9.47 per cent, to close at N5.20, per share.
Fidson came second with 9.43 per cent to close at N2.90, while Linkage Assurance appreciated by 9.38 per cent to close at 35k, per share.
Unity Bank garnered 8.89 per cent to close at 49k, while Ardova Plc appreciated by 7.17 per cent to close at N13.45, per share.
In spite of the drop in market indices, the volume of shares traded rose by 90.09 per cent with an exchange of 305.10 million shares, valued at N2.10 billion in 3,258 deals.
This was in contrast with 160.50 million shares worth N1.47 billion traded in 2,997 deals on Friday.
Transactions in the shares of Sovereign Trust Insurance topped the activity chart with 75.56 million shares valued at N15.113 million.
United Bank for Africa followed with 70.71 million shares worth N441.89 million, while Guaranty Trust Bank sold 36.97 million shares valued at N3.71 million.
Japaul Oil & Maritime accounted for 17.42 million shares worth N3.71 million, while Zenith Bank transacted 10.60 million shares worth N68.10 million. (NAN)
July 21, 2020
NSE: Market indicators record marginal growth, up 0.06%
The Nigerian Stock Exchange (NSE) on Wednesday recorded the first gain of the week, appreciating marginally by 0.06 per cent due to bargain hunting in Airtel Africa.
Accordingly, the All-Share Index rose by 15.67 points or 0.06 per cent to close at 24,130.26 compared with 24,114.59 posted on Tuesday.
Also, the overall market capitalisation improved by gained N8 billion to close at N12.587 trillion in contrast with N12.579 trillion on Tuesday.
The upturn was impacted by gains recorded in large and medium capitalised stocks, amongst which are; Airtel Africa, Dangote Sugar, Guaranty Trust Bank, Cutix and Access Bank.
A breakdown of the price movement chart indicated that Sunu Assurances dominated the gainers’ chart in percentage terms, appreciating by 10 per cent, to close at 22k, per share.
Cutix followed with 7.69 per cent to close at N1.82, while Dangote Sugar improved by 5.17 per cent to close at N12.20, per share.
Mutual Benefits Assurance rose by 4.76 per cent to close at 22k, while Airtel Africa appreciated by 3.44 per cent to close at N340, per share.
Conversely, Julius Berger led the losers’ chart in percentage terms, losing 9.88 per cent, to close at N15.50, per share.
Nigerian Breweries followed with a decline of 9.84 per cent to close at N30.70, while Linkage Assurance lost 9.80 per cent to close at 46k, per share.
Wapic Insurance dipped 9.09 per cent to close at 30k, while Caverton shed 6.15 per cent each to close at N1.83, per share.
However, the total volume of shares transacted closed flat with an exchange of 208.21 million shares, valued at N1.76 billion in 3,648 deals.
This was in contrast with 208.20 million shares worth N1.06 billion traded in 4,174 deals on Tuesday.
Sterling Bank drove the activity chart, accounting for 77.19 million shares valued at N95.71 million.
United Bank for Africa came second with 19.82 million shares valued at N119.99 million, while Zenith Bank traded 15.95 million shares worth N247.89 million.
FBN Holdings sold 12.86 million shares valued at N64.97 million, while FCMB Group transacted 9.34 million shares worth N17.74 million. (NAN)
July 15, 2020
NSE upgrades data portal to further improve access to market
The Nigerian Stock Exchange (NSE) is pleased to announce the upgrade of its Data Portal (X-DataPortal) on Monday, 22 June 2020.
The revamped X-DataPortal, accessible via https://dataportal.nse.com.ng, provides a more efficient, user-friendly experience for subscribers. The new features include data products, subscription management, payment gateway integration and a lot more.
The X-DataPortal which was first introduced in 2013, is an online application that serves as a repository for real-time, delayed, end of the day, and historical data for all financial instruments listed on the NSE. It is a consolidated, a streamlined platform for market participants to access affordable, quality and timely data.
Speaking on the development, the Chief Executive Officer, NSE, Mr. Oscar Onyema noted that, “The upgrade of the X-Data Portal is in line with the desire of the NSE to continue to provide an exchange that is easily accessible leveraging digital technology.
“The newly enhanced X-DataPortal has, therefore, been equipped with market-focused features that will complement the NSE website and other NSE portals in response to stakeholders’ increased demand for easy access to data.
“Given the importance of Market Data in investment decisions, we remain resolute in our commitment to provide capital market participants with more channels to access relevant market information required for making investment decisions.”
On his part, the Divisional Head, Trading Business, NSE, Mr Jude Chiemeka, stated that, “At the NSE, we recognize that data fuels every aspect of the trading process.
“We are, therefore, pleased to introduce the improved X-DataPortal that will serve as a principal source for brokers, fund managers, research analysts, other professionals and non-professional participants like students and investors to get quality real-time and reference data reports for analysis, research and reporting purposes.
“We believe that the customer-centric approach we have adopted will deliver a superior customer experience in engaging with our capital market.”
The X-DataPortal provides users with additional features such as the seamless purchase of market data; easy access to customized data; instant notifications; and real-time prices. Existing users of the portal will also be migrated to the new portal and can log in with existing credentials.
June 23, 2020
NSE partners FCT council on community devt
The Nigerian Society of Engineers (NSE), Bwari branch in the Federal Capital Territory (FCT), says plans are underway to assist Bwari Area Council on infrastructure development.
Chairman of the branch, Mr Dauda Musa, made this know in an interview with our correspondent in Abuja on Wednesday.
Musa said that the move was part of the fulfillment of the United Nations Sustainable Development Goals (SDGs) and the role of engineers toward sustainable community development.
According to him, the society intends to collaborate with the council’s administration in offering technical assistance that would aid community development.
He said that a committee set up to identify areas of collaboration has submitted a reports, which would help to set things in motion.
Musa said: “It is our wish to collaborate with the area council, where we can give our views on issues pertaining to engineering that can help develop the area.
“As such, we formed a committee that has gone round the council to identify where the society can assist and they have submitted their reports where they identified infrastructure as one of the major challenges.
” One of them, which is most important is the issue of flooding along access roads. We must partner with the council to address this particular challenge before we are overwhelmed with the rains.
” We hope to achieve success on this project because, even though it is capital intensive, we must ensure safety during the rainy season.”
Musa said that part of the branch’s fundamental objectives was to create awareness about engineering as well as ensure registration of new members into the society.
He, however, said that the society had taken its advocacy to both primary and secondary schools within the district.
According to him, the society needs to sensitise pupils and students during career day events on taking up science studies with the hope to becoming engineers.
Musa further said that the branch had in the process also provided some of the schools with science textbooks in order to boost the performance of the students.
This strategy, he said, would also encourage, especially the girl-child, to develop interest in becoming an engineer in the future.
He also congratulated engineers all over the world on the successful declaration of the World Engineers Day, which was set aside on March 14, annually, to celebrate the profession beginning from 2020.
The day, he added, would add value to the profession while also creating avenues to suggest innovations for engineering development globally.
April 22, 2020