News tracks – First Ideas Limited

News tracks

Investors Gain N301.86bn as NGXASI Inches up by +1.06%; Debt Market Size grows by 0.04% to N27.38trn; Overnight Rate Rises to 14.08%

  1. EQUITIES MARKET 

1.1 NGX – Listed Equities

Nigerian Equities Market maintained positive posture to close in the green zone at the end of today’s trading session amid improved market breadth.

 

The NGX All-Share index inched up by +1.06% to close at 53,151.32 basis points as against the +1.24% gain recorded at the end of the previous trading session. In Naira terms, the NGX Market CAP records N301.86bn gain

YTD, the NGXASI Stands at +24.43%

The total volume traded declined by -30.40% to close at 266.18m, valued at N5.12bn and traded in 5,501 deals. TRANSCORP was the most traded stock by volume with 48.10m units traded, while MTNN was the most traded stock by value which is put at N1.88bn.

Sectoral performance was broadly positive as fourteen (14) NGX sector indices closed northward, one (1) closed southward while three (3) closed flat. The NGX AFRHDYI Index inched up by +2.34% while the NGX Oil and Gas Index dipped by -0.30% to top all sector indices otherwise.

Gote index closed flat at 154.54 basis points while Toni index closed green with +2.50% gain recorded to close at 116.53 basis points.

At the close of trading, market recorded 24 gainers to 11 losers and 68 unchanged. CHAMPION topped the list of gainers as NPFMCRFBK topped the list of losers. Thus, market breadth closed positive.

 

Volume and Value Contribution

TRANSCORP led the volume chart with 17.90% contribution and closely followed by ACCESSCORP and GTCO.

 

MTNN led the value chart with 36.77% contribution and closely followed by SEPLAT and GTCO.

 

NGX Earnings Summary

No Financial statement was released on the NGX today.

 

NGX Corporate News

 

UPDC Plc, as parts of the special resolutions passed at its 24th AGM held Tuesday May 24th, 2022 announced that its shareholders have approved the cancellations of all of the 40,030,000 (forty million, thirty thousand) unissued ordinary shares of 50 kobo each of the Company.

 

1.2 NASD OTC Exchange– Unlisted Equities

The NASD market index dipped marginally by -0.03% to close at 794.83 basis points as against the +0.41% gain recorded previously.

The total volume traded declined by -96.47% to close at 141,642 units valued at N12.93m and traded in 7 deals.

At the close of trading, NASD OTC market recorded 0 gainer(s) to 1 loser(s)

 

Volume and Value Contribution

SDNIPCOPLC led the volume chart with 70.60% contribution

 

SDNIPCOPLC led the value chart with 48.04% contribution

 

NASD Earnings Summary

No Financial statement was released on the NASD OTC Exchange today.

 

NASD Corporate News

No Corporate News was released on the NASD OTC Exchange today.

 

1.3 Global Indices

On the global scene, the USA Nasdaq Index leads the top five gainers with 3.40% gain while the Israel TA-100 Index tops the top five losers with -2.50% loss as of 4pm Nigerian Time

 

1.4 African Indices

Similarly on the African scene, the South Africa All Share Index tops the top five gainers with 2.81% gain while Mauritius SEMDEX Index tops the top five losers with -0.47% loss as of 4pm Nigerian Time

 

  1. 2BONDS AND FIXED INCOME MARKETS

 

2.1 Debt Market Size

The FMDQ Debt Market Size advanced by 0.04% to close at N27.38trn from N27.37trn.

2.2 Overnight and Open Repo (OPR)

The overnight lending rate rose by 0.58% to close at 14.08% while the Open Repo (OPR) rate also rose by 0.71% to close at 13.67%

  1. COMMODITIES MARKET

 

3.1 AFEX Indices

The ACI moved down by -0.01% to close at 459.77 basis points as against previous figure of 459.82 while the AEI closed flat at 198.70 basis points

 

3.2 AFEX Commodity Prices

Soybeans grew by 7.18% to close at N457.66 while Maize dropped by -1.98% to close at N245.04

 

3.3 Global Commodity Prices

Gold recorded 0.44% loss while Silver also declined by 0.27% as of 11:54 NY time

 

In the energy market, Brent advanced by 5.29% while WTI also advanced by 3.51% as of 10:57AM Central Daylight Time (CDT)

 

  1. CURRENCY/ FX MARKET

The naira appreciated at the I&E FX Window by 0.24% to close atN418.00/USD while the NAFEX rate appreciated by 0.04% to close at N418.00.

 

FAAC shares N656 billion to FG, states, LG in April 2022

The Federation Account Allocation Committee (FAAC) has shared a total sum of N636.602 billion April 2022 federation account revenue to the federal government, states and local government councils. This was contained in a communiqué issued at the end of a virtual meeting of the FAAC for May 2022

Nigerian manufacturers cut 4,451 jobs in one year

Nigerian manufacturers cut a total of 4,451 jobs in 2021, the Manufacturers Association of Nigeria (MAN) said in a new report on Thursday. MAN, in its half-yearly review of the economy, said 11,949 job losses were recorded in the manufacturing sector in 2020

Finance, others limit Nigeria’s cosmetics export opportunity

Nigeria’s cosmetic industry is lagging its African peers in profiting from the global cosmetics market as numerous challenges – especially limited export opportunities – hinder prospects, experts have said.

Dangote Cement, MTN, 8 others top highest dividend payouts

Investors in the Nigerian capital market have earned over N1trillion from dividend payout by companies listed on Nigerian Exchange Limited (NGX) year-to-date (YtD). This was even as Dangote Cement, MTN Nigeria and 8 others emerged as highest companies in terms of total dividends paid while Nestle  Total Energies Plc and 8 others emerged as highest in terms of dividend paid per share.

Dividend payment is one of the very few ways available for investors to earn a constant stream of income. It is also the main reason shareholders hold onto their shares in a company. It, therefore, brings great satisfaction to investors when these companies declare dividend to their shareholders

Investors to exit stocks for fixed income on rate hike

Nigeria’s monetary policy committee (MPC) recent hawkish approach no doubt was informed by the need to dampen inflationary pressures to ensure price stability but the decision has its consequence on several of the nation’s assets classes which are expected to be disrupted

Nigerian banks race to retain talent

The growing number of young and upwardly mobile professionals flocking to other countries in recent years is forcing Nigerian banks to adopt desperate measures in a bid to retain talent. The banks are also contending with the exodus of talent to tech and fintech

NNPC’s clean energy plan opens opportunity for investors

The Nigerian National Petroleum Company (NNPC) says it will begin to invest in new commercial-ready technologies that can meet energy needs and help fight climate change impacts, a development that signals opportunities for clean energy investors.

Manufacturing sector rises by most since 2016 amid FX pressures

Nigeria’s manufacturing sector is showing strong signs of recovery in numbers following the outbreak of the COVID-19 pandemic as it expanded 5.89 percent in the first quarter of 2022 from 3.40 percent in the same period of 2021.

Pension funds’ new capital raise triggers M&A

Barely a month after the end of the pension industry recapitalisation, which led to the successful emergence of 20 players, another wave of mergers and acquisitions (M&A) is brewing in the sector.

Nigerian Enamelware Declares N82.09 m Loss in 2022 Q4 Result, (SP:N16.2k

Nigerian Enamelware Plc released its Q4 2022 Unaudited results for the period ended April 30th, 2022.

Key Highlights

  • Revenue grew by 1696.7% from N3m to N48m
  • Loss before tax stood at N82.09m
  • Loss after tax stood at N82.09m
  • Share Price Currently Stands at N16.2k

 

 

Mild Growth (3.11%) in an Inflationary Economy

The anticipated Q1’22 GDP data has been released by the National Bureau of Statistics (NBS). As widely expected, real GDP growth sustained its positive trend for the 6th consecutive quarter. It grew by 3.11%, representing a decline of 0.88% relative to a growth rate of 3.98% in Q4’21. Source FDC Ltd Read More

Food Prices Record 42% Surge in 12 months – NBS Report

A new report titled “Selected Food Price Watch for the month of April 2022” showed that the average price of 1kg of beans (white, black eye, sold loose) rose on a year-on-year basis by 44.32 per cent, from N359.64 in April 2021 to N519.05 in April 2022. Source Punch Read 

FG Unveils Tracking System for Efficient Passport Issuance

The Acting Comptroller General of the NIS, Isah Jere Idris, who announced this in a release, explained that the tracking system was put in place by the NIS to help applicants monitor the statuses of passport applications. Source The Guardian Nigeria Read More

Naira Devaluation, Insecurity Drive Nigeria’s Wheat Imports to N1.3tn

Importation of durum or pasta wheat into Nigeria has continued to skyrocket, rising from N730.9 billion in 2020 to N1.295 trillion in 2021. Source Punch Read More

Uber crosses 1 billion rides in Africa

American ride-hailing giant Uber recently announced that it has completed 1 billion rides and over 10 billion kilometres in terms of distance covered across all its markets in Africa. Source TechCabal Read More

 

About the Author

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First Ideas Limited is an investment and financial advisory company established in 1994 to provide advisory services to high net worth individuals, trust funds, financial institutions and medium sized companies in growth sectors.

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