December 7, 2022

Amid earnings reports, equity investors earn 107 billion naira


Nigerian Stock Exchange

Amid earnings reports, equity investors earn 107 billion naira

Investors in shares of Nigerian Exchange Limited earned 107.35 billion naira last week as listed companies continued to announce their profits and dividends to shareholders.

Market cap of equities rose 0.68% to close at 20.22 billion naira while the NGX All Share-Index rose to 38,810.75 basis points from 38,547.08 bps the previous week .

Trading activity fell as share volumes traded by investors fell 27.98% from 1.37 billion shares valued at 11.82 billion naira in 22,982 deals to 989.59 million of shares worth 8.18 billion naira traded in 19,617 deals in the previous week.

All other indices ended lower except for the NGX-Main Board, NGX Premium, NGX Lotus II and NGX Sovereign Bond indices, which appreciated by 1.07%, 0.30%, 0.29 and 0. , 45% respectively, while the NGX growth index closed. apartment.

The NGX also revealed in its weekly report that the financial services sector topped the activity chart by volume with 603.66 million shares valued at 3.86 billion naira traded in 9,337 deals, contributing to 61 .00 percent and 47.22 percent to the volume and value of total stock sales. respectively.

The conglomerate industry followed with 102.23 million shares worth 133.99 million naira in 846 deals. In third place was the consumer goods industry, with sales of 80.98 million shares worth 1.25 billion naira in 2,902 transactions.

Twenty-three stocks appreciated during the week against 37 the previous week, while 36 stocks depreciated against 35 stocks the previous week. However, 97 shares remained unchanged, higher than the 84 shares recorded the previous week.

The winning chart was led by Cutix Plc, which posted a 17.95% increase to end the week at N 5.65 per share. Regency Alliance Insurance Plc came next, with the share price rising 14.29 percent to 0.48 N.

The other big winners were Conoil Plc, which rose 10.00%; Transcorp Hotels Plc, which gained 9.80 percent, and Julius Berger Plc, whose share price rose 8.89 percent.

Neimeth International Pharmaceuticals Plc depreciated the most, falling 14.29% to N1.50 per share. It was followed by AIICO Insurance Plc with a decline of 12.04 percent, closing at N 0.95 per share. The other big losers were Juli Plc (-9.76 percent) and Caverton Offshore Group Plc (-7.69 percent) as trading ended on the NGX floor on Friday.

Cordros Capital analysts in their weekly report said, in line with their expectations, that positive sentiment returned to the local stock exchange last week as the gradual release of corporate earnings bolstered buying interests in dividend paying stocks.

“Except for the penultimate trading day, the market posted gains over all five trading sessions,” they added.

Analysts at Meristem Securities Limited also noted that the mood in the Nigerian equity market was largely positive last week, with the market closing four of five trading days.

“There has been a continuation of the H1: 2021 earnings releases that started last week, with Consolidated Hallmark Insurance Plc, Cadbury Nigeria Plc, Conoil Plc, MRS Plc showing mixed results. In addition, CHI declared an interim dividend of 2 kobo for every 50 kobo common shares, ”they said.