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Stocks Tumble As NGX Extends Bearish Run

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NGX

By Niyi Jacobs, Editor

Stocks tumble on Monday as the Nigerian Exchange (NGX) extends a bearish run ahead of inflation data released this week.

The local bourse resumed with sell pressure on MTNN (-0.6%), ZENITH (-2.2%), and BUACEMENT (-0.7%) as bears have a day, thus extending the previous week losses. Stockbrokers said the selling pressure witnessed today dragged the All-Share Index lower by 36 basis points to 37,857.89 points.

Consequently, the year to date loss worsened to -6.0% while market capitalisation dipped by ₦70.9 billion to ₦19.7 trillion.However, the volume of stocks traded on the exchange recorded a decline of 22.31 per cent compared to a 6.47 per cent increase in the value of stocks traded.  A total of 187.24 million units of shares valued at N2.89 billion, were traded in 4,017 deals.

ZENITH BANK led the volume chart, accounting for 18.86 per cent of the total volume of trades, followed by SOVERNINS (7.56%) UBA (7.54%) MBENEFIT (7.23%), and TRANSCORP (6.12%) to complete the top five on the volume chart. Also, ZENITH BANK led the value chart accounting for 30.14 per cent of the total value of trade on the exchange.

TRIPPLEG, REGALINS and UPDC led the gainers’ chart, with their share prices advancing by 9.89 per cent, 8.89 per cent, and 7.44 per cent, respectively.CWG topped the losers’ table with its share price depreciating by 9.52 per cent to close at N1.14 after opening the day at N1.26.Afrinvest said in its market report that performance across sectors under its coverage was bearish as 5 indices lost while 1 index gained. The Banking index led losers down 1.0% due to price depreciation in ZENITH (-2.2%), and FBNH (-2.6%).

Similarly, the Consumer Goods and AFR-ICT indices dipped by 0.4% apiece due to sell-offs in PZ (-1.7%), HONYFLOUR (-0.6%), and MTNN (-0.6%).

In the same vein, the Industrial Goods and Insurance indices fell by 35and 3 basis points respectively due to losses in INTBREW (-5.7%), BUACEMENT (-0.7%) and MANSARD (-2.3%).Conversely, the Oil & Gas index was the lone gainer, up 5bps on the back of buying interest in ETERNA (+1.7%).“In the next trading session, we envisaged extension of cautious trading ahead of H1-2021 earnings releases”, Afrinvest said.

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NGX Partners BUA Group, CSCS, Other Private Sponsors To Host Capital Markets Conference

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NGX CONFERENCE

…Theme “The Future Ready Capital Market: Innovating for Nigeria’s Sustainable Recovery”

Olushola Okunlade Writes

Nigerian Exchange Limited (NGX), led by its Chairman, Mr. Abubakar Balarabe Mahmoud, OON, SAN, and Chief Executive Officer, Mr. Temi Popoola, CFA, is on course to further champion the reawakening of the capital market from the effect of the pandemic.

To achieve this, NGX, alongside its sponsors BUA Group, Central Securities Clearing System Plc (CSCS), and NG Clearing, is putting together the inaugural edition of the NGX Capital Markets Conference with the theme, “The Future Ready Capital Market: Innovating for Nigeria’s Sustainable Recovery”.

The flagship hybrid event, which will take place on Tuesday, 30 November 2021, at Transcorp Hilton Abuja, will be attended by the Vice President of the Federal Republic of Nigeria, His Excellency, Professor Yemi Osinbajo, SAN, GCON; the Speaker of the House of Representatives, Rt. Hon. Femi Gbajabiamila; and a host of key stakeholders, industry players, and top government officials.

Speaking about the importance of the conference, Mr. Popoola, said, “The Nigerian capital market plays a critical role in developing the Nigerian economy and, in proxy, the African economy. The challenges the capital market encountered during the pandemic have created an opportunity to drive sustainable wealth creation and economic development through policies that foster innovation and digitalization, addressing severe societal challenges.

NGX is strategically positioned to invite stakeholders in the capital market to form partnerships that will foster the growth and development of the Nigerian economy.

“The Future Ready Capital Market: Innovating for Nigeria’s Sustainable Recovery”

Chairman/CEO of BUA Group, Abdul Samad Rabiu, CON, said, “The initiative of Nigerian Exchange Limited to engage key stakeholders in the capital market is a commendable step to revitalizing the economy and positioning it to attract greater global flows for sustainable economic recovery. We at BUA Group applaud NGX for this great initiative and are pleased to partner in taking this giant stride to chart a path for the future of a resilient Nigerian economy”.

Also commenting, Haruna Jalo-Waziri, MD/CEO, CSCS said, “I believe that yielding partnerships in the capital market will better strengthen the industry, create opportunities for more players, and support innovation and digitalisation to better drive the Nigerian economy.”

In compliance with COVID-19 protocols, in-person attendance at the conference is by invitation only. Interested persons who wish to attend online via zoom and YouTube can register at https://bit.ly/ngx-cmc2021.

Media partners for the event include CNBC Africa, Proshare, Business Day, and Nairametrics.

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Capital Market

NGX Holds Media Parley Ahead Of Capital Market Conference, Task FG, Private Sector On Capital Market For Infrastructure Development

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Left-Right: Mr. Jude Chiemeka, Divisional Head, Trading Business, Nigerian Exchange Limited (NGX); Mrs. Irene Robinson-Ayanwale, Ag. Divisional Head, Business Support Services/General Counsel|Head, Legal Services, NGX; Mr. Temi Popoola, CFA, Chief Executive Officer, NGX; and Mrs. Chinyere Joel-Nwoekeoma, Chairman, Capital Market Correspondents Association of Nigeria (CAMCAN) during a press briefing in preparation for NGX Capital Markets Conference in Lagos on Thursday, November 18, 2021.

Olushola Okunlade Writes

The Nigerian Exchange Limited (NGX) has urged the Federal Government and the private sector to embrace the capital market for long-term funds to address the country’s infrastructure deficit.

Chief Executive Officer of NGX, Mr. Temi Popoola, said this at a news conference on Thursday in Lagos in preparation for the Exchange Capital Markets Conference.

Popoola said the government and the private sector must harness the opportunities in the country’s capital market for infrastructure development and employment, instead of depending on external borrowings.

Popoola noted that the challenges facing the country in terms of infrastructure would be resolved through capital market instruments.

“Most countries have used the capital market to boost their infrastructure. The capital market is the appreciative way of resolving our infrastructural issue.

“For us at the Exchange, we want to push this narrative, let’s bring the capital market to the center of the discussion. This is another tool we can deploy to address many of these challenges,” he said.

He said the NGX would continue to engage the Federal Government, the private sector, policymakers, and other stakeholders on the inherent opportunities in Nigeria’s capital market. Popoola said the Exchange would remain committed to investor education to boost participation in the market.

According to him, the NGX will be holding its inaugural Nigerian Capital Markets Conference on November 30, 2021.

L – R shows Mr. Jude Chiemeka, Divisional Head, Trading Business, Nigerian Exchange Limited (NGX); Mrs. Irene Robinson-Ayanwale, Ag. Divisional Head, Business Support Services/General Counsel|Head, Legal Services, NGX; Mr. Temi Popoola, CFA, Chief Executive Officer, NGX; and Mrs. Chinyere Joel-Nwoekeoma, Chairman, Capital Market Correspondents Association of Nigeria (CAMCAN) during a press briefing in preparation for NGX Capital Markets Conference in Lagos – November 18, 2021
Left-Right: Mr. Jude Chiemeka, Divisional Head, Trading Business, Nigerian Exchange Limited (NGX); Mrs. Irene Robinson-Ayanwale, Ag. Divisional Head, Business Support Services/General Counsel|Head, Legal Services, NGX; Mr. Temi Popoola, CFA, Chief Executive Officer, NGX; and Mrs. Chinyere Joel-Nwoekeoma, Chairman, Capital Market Correspondents Association of Nigeria (CAMCAN) during a press briefing in preparation for NGX Capital Markets Conference in Lagos on Thursday, November 18, 2021.

He said the conference would bring together policymakers, government, financial experts, business leaders, investors, international development partners, regulators, and other stakeholders, to share insights and broaden the thinking needed for greater capital flows through innovative sources of financing.

Popoola said: “This is going to be the first of its kind in the country. The event will address what the market can do for the government, private sector, and the opportunities the market offers.” He also stressed the need for government policy to drive and revive the capital market.

“Some of the rules that govern the market today need to be reviewed,” Popoola said.

He noted that retail investors in the market at the moment stood at three to four million, which he said was still very low when considering the country’s 200 million population.

Mr. Jude Chiemeka, Divisional Head, Trading Business, NGX, said asset-backed securities could be harnessed by both government and private sector to address the country’s infrastructure needs.

Chiemeka said the conference would highlight how investors, more importantly, issuers can utilise the capital market to raise funds. He said the government could focus on the green bond, Sukuk, in addressing the infrastructural gap.

“The Eurobond the government has raised or going to do, we do have a lot of assets in the domestic economy that can actually be securitized, which government can use to finance the infrastructural needs.

“Our focus will also be around diversification of the capital market. For a long time our market had a lot of international flows and each time we have global financial crises or foreign exchange issues as we are having now, the market takes a huge hit.

“The PFAs have assets of over N30 billion and with proper development, we should be able to have, like other markets, control 70 percent of domestic flows. We should be able to launch our derivatives market, and with this instrument, we can attract the millennium due to their high-risk appetite,” Chiemeka said.

He stressed that the capital market, apart from solving problems, also created opportunities that would help in employment generation. He noted that the economy would not witness the needed growth and development without the active involvement of the capital market.

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NGX To Further Drive Investor Education With Retail Investor Workshop

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Olushola Okunlade Writes

Nigerian Exchange Limited (NGX) is set to host its 4th Retail Investor Workshop this year on Tuesday, 16 November 2021.

The webinar with the theme, Creating an Investment Portfolio That Works in a Post-Covid Era is in line with The Exchange’s aim to drive the development and promotion of retail participation in the capital market.

To educate existing and potential investors on market opportunities, the event will feature presentations from industry experts from the Broker community and the NGX team.

Interested participants can register at https://bit.ly/NGX_RICW.

Speaking about the event, the Divisional Head, Trading Business, NGX, Mr. Jude Chiemeka stated, “At NGX, we remain committed to creating awareness around the diverse investment instruments available on our platform and how these can help investors achieve their financial objectives under any condition.

This is particularly important given the unprecedented changes brought about by the COVID-19 pandemic and how it has changed the way individuals, organizations, and economies operate today.

The Retail Investor Workshop will, therefore, stimulate conversations around ethical investing, maximizing returns on investors’ portfolios and minimizing risks through portfolio diversification.”

Through platforms such as the Retail Investor Workshop, The Exchange continues to respond to the growing need for increased retail participation. With its plethora of innovative products and services, it continues to build a vibrant capital market, deepen activity, improve liquidity and create long-term value for all stakeholders.

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