Investors Gain N17.69bn as NGXASI advances by 0.07%; Overnight Rate Closed Flat at 8.83%; BDC Depreciates to 895
- EQUITIES MARKET
1.1 NGX – Listed Equities
Nigerian Equities Market closed positive as the key market indicator advanced by 32.48bps amid negative market breadth
The NGX All-Share Index advanced by 0.07% to close at 44,269.18 basis points as against 0.10% loss recorded previously to close at 44,236.7 basis points at the end of the last trading session. In Naira terms, the NGX Market CAP records N17.69bn gain.
YTD, the NGXASI Stands at +3.63%
The total volume traded advanced by 228.10% to close at 705.92m, valued at N4.59bn and traded in 3,472 deals. FTNCOCOA was the most traded stock by volume with 350.24m units traded while ACCESSCORP was also the most traded stock by value which is put at N1.52bn
Sectoral performance was broadly positive as ten (10) NGX sector index closed northward, five (5) closed southward while three (3) closed flat. The Insurance index advanced by 0.87% to top the gainers chart while the NGXSOVBND index dipped by 1.36% to top the losers’ chart.
Dangote index closed flat at 125.75 basis points and the Elumelu index advanced by 1.91% to close at 104.45 basis points.
At the close of trading, market recorded 13 gainers to 14 losers and 76 unchanged. FTNCOCOA topped the list of gainers while CUSTODIAN topped the list of losers.
Thus, market breadth closed negative as the Market Breadth Index (MBI) is put at -0.01x.
Volume and Value Contribution
FTNCOCOA led the volume’s chart with 49.62% contribution and closely followed by ACCESSCORP and FIDELITYBK
ACCESSCORP tops the value’s chart with 33.17% contribution and closely followed by GEREGU and GTCO
NGX Earnings Summary
No Financial statement was released on the NGX Exchange today.
NGX Corporate News
No Corporate News was released on the NGX Exchange today
1.2 NASD OTC Exchange – Unlisted Equities
The NASD market index declined by 0.07% to close at 720.36 basis points as against the flat position recorded previously to close at 720.83 basis points
The total volume traded advanced by 2944.21% to close at 0.13m units valued at N1.05m and traded in 5 deals.
At the close of trading, NASD OTC market recorded zero (0) gainer(s) to zero (0) loser(s)
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 Hong Kong Hang Seng Index leads the top five gainers with 5.36% gain while the Japan Nikkei 225 Index tops the top three losers with 1.68% loss as of 4pm Nigerian Time
1.4 African Indices
Similarly, on the African scene, the Tunisia BVMT Index tops the top three gainers with 0.29% gain while the South Africa Resource 10 Index tops the top five losers with 3.26% loss as of 4pm Nigerian Time
- BONDS AND FIXED INCOME MARKETS
2.1 Debt Market Size
The FMDQ Debt Market Size was not available as at the time of writing this report.
2.2 Overnight and Open Repo (OPR)
The Overnight lending rate closed flat at 8.83% while the Open Repo (OPR) rate also closed flat at 8.50%
- COMMODITIES MARKET
3.1 AFEX Indices
The AFEX ACI closed flat at 455.71 while the AFEX AEI advanced by 2.19% to close at 206.91
3.2 AFEX Commodity Prices
Soybeans grew by 5.38% to top the gainers chart while Paddy Rice declined by 22.03% to top the losers chart.
3.3 Global Commodity Prices
Gold recorded 2.63% gain while Silver also appreciated by 5.96% as of 10:59 NY time
In the energy market, Brent advanced by 3.60% while WTI also advanced by 4.19% as of 10:01 AM Central Daylight Time (CDT)
- CURRENCY/ FX MARKET
The naira declined by 0.06% at the I&E FX Window to close at N445.75/USD while the NAFEX rate advanced by 0.28% at N443.75/USD
Transnational Corporation of Nigeria Plc Reports N19.04bn PAT in Q3’22 Results, (SP: N1.04k)
Transnational Corporation of Nigeria Plc released its Q3 2022 Unaudited results for the period ended September 30th, 2022.
Key Highlights
- Revenue grew by 12.5% from N85.59bn to N96.25bn.
- Profit before tax stood at N20.87bn
- Profit after tax stood at N19.04bn
- Share Price Currently Stands at N1.04k
Transnational Corporation of Nigeria (Transcorp) Plc has released its results for the third quarter year ended September 30, 2022, recording significant improvement across its major income lines.
Despite the extremely challenging business environment, the conglomerate with investments in the hospitality, power and oil & gas sectors, recorded impressive growth in its profit after tax which rose by 41.4% to N19bn up from N13.3bn recorded the previous year in September 2021; while profit before tax grew by 47.7% to ₦20.9 billion in September 2022, higher than ₦14.1 billion recorded in the similar period of 2021.
The results filed with the Nigerian Stock Exchange also showed that the Group’s total revenue rose by 12.5% from N85.6bn in September 2021, to N96.2bn in the period under consideration.
Operating Income also grew by 14.5% from N27.5 billion in September 2021 to N31.5 billion in September 2022, while Operating expenses for the quarter ended September 2022, stood at N16.0 billion, representing an increase of 30.9% compared to N12.2 billion recorded in the same period of 2021.
The results also showed that total assets increased by 1.3% from N416.0 billion in December 2021 to N421.2 billion in Q3 2022 due to the increase in Inventories, Prepayments and Trade and Other Receivables which cushioned the effect of the decline in Cash and Cash Equivalents, just as shareholders’ Funds rose to N161.8 billion, representing an 11% year-on-year increase from N146.3 recorded billion due to profitability during the period.
Commenting on the results, Transcorp’s President/Group Chief Executive Officer, Owen Omogiafo, explained that the laudable performance this quarter was achieved as a result of the improved performance across all our businesses.
She said, “Despite the challenging operating environment, characterised by gas supply constraints, foreign exchange volatility and rising inflation, amongst others, the group improved profitability and performance during the period. Our hospitality business has sustained its strong growth trajectory, outperforming all indices. Our business model remains robust, thanks to the prudent and adaptive strategy we have taken across our operations.”
While expressing confidence in the company’s capacity to deliver even better results in the last quarter of the financial year, she said, “We remain focused on efficiency, cost leadership, and meeting market demand to consistently deliver profitability and value to all our shareholders.”
Transnational Corporation Plc (Transcorp Group) is a publicly quoted Conglomerate, with a diversified shareholder base of over 300,000. Our portfolio comprises strategic investments in the power, hospitality, and oil and gas sectors. Our businesses include Transcorp Hilton Abuja, Transcorp Hotels Calabar, Transcorp Power, Transafam Power, and Transcorp Energy.
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