Tag: Chams Holding Company

Stock Market Sheds N16bn

by Janet Olushola

Nigerian equities opened the week extending its losing streak for the seventh consecutive session as investors’ investment declined by N16 billion.

The All Share Index (ASI) decreased by 29.35 absolute points, representing a dip of 0.05 per cent to close at 54,886.04 points. Similarly, the market capitalisation lost N16 billion to close at N29.900 trillion.

The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Stanbic IBTC Holdings, Nigerian Breweries, Chemical & Allied Products (CAP), Multiverse Mining and Exploration and FCMB Group.

Looking ahead, United Capital Plc said “we expect risk-on sentiments to return to the equities markets as the depressed interest rate environment will continue to favour the local bourse in line with our expectations for Q1, 2023.

“Taking positions in stocks with solid valuations and dividend yields ahead of the dividend-paying season remains the choice strategy. However, we see room for extended profit-taking activities.”

Meanwhile, market breadth, which is measure by market sentiment was positive, as 19 stocks gained relative to 14 losers. Access Holdings recorded the highest price gain of 7.14 per cent to close at N9.00, per share. Cutix followed with a gain 5.69 per cent to close at N2.23, while University Press appreciated by 5.53 per cent to close at N2.10, per share.

Custodian Investment went up by 5.17 per cent to close at N6.10, while Chams Holding Company appreciated by 4.17 per cent to close at 25 kobo, per share. On the other hand, Ikeja Hotel led the losers’ chart by 9.52 per cent to close at N1.14, per share. Wapic Insurance followed with a decline of 9.52 per cent to close at 38 kobo, while Stanbic IBTC Holdings went down by 8.52 to close at N36.50, per share.

Multiverse Mining and Exploration lost 5.80 per cent to close at N3.25, while Livestock Feeds shed 5.50 per cent to close at N1.03, per share.

The total volume traded went up by 646.50 per cent to 1.172 billion units, valued at N2.877 billion, and exchanged in 3,066 deals. Transactions in the shares of Neimeth Pharmaceutical topped the activity chart with 1.069 billion shares valued at N1.581 billion. United Bank for Africa (UBA) followed with 15.964 million shares worth N128.784 million, while Access Holdings traded 13.033 million shares valued at N114.365 million.

Transnational Corporation (Transcorp) traded 11.770 million shares valued at N15.257 million, while Zenith Bank transacted 9.861 million shares worth N243.759 million.

March 20, 2023
Equities Investors Investments Decline By N313bn

by Janet Olushola

Extending its losing streak for the fifth successive session, today, the domestic equities market lost N313 billion as investors continued to profit taking.

The All Share Index (ASI) fell by 574.59 absolute points, representing a decrease of 1.04 per cent to close at 54,915.61 points. Accordingly, investors lost N313 billion in value as market capitalisation declined to N29.916 trillion.

The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; MTN Nigeria Communications (MTNN), Ecobank Transnational Incorporated (ETI), Industrial & Medical Gases Nigeria, United Capital and Dangote Sugar Refinery.

On market outlook, analysts at GTI Securities said “investors continue to pick safe stocks ahead of election uncertainties, We expect this negative performance to persist in the absence of any other catalyst.”Market breadth closed remained negative as 25 stocks lost relative to eight gainers.

Chams Holding Company recorded the highest price gain of 8.70 per cent to close at 25 kobo, per share. University Press followed with a gain 7.57 per cent to close at N1.99, while LivingTrust Mortgage Bank gained 3.37 per cent to close at N3.07, per share.

Sterling Bank appreciated by 2.67 per cent to close at N1.54, while Zenith Bank rose by 2.52 per cent to close at N24.45, per share. On the other hand, ETI led the losers’ chart by 10 per cent to close at N10.80, per share. Industrial & Medical Gases Nigeria followed with a decline of 9.32 per cent each to close at N7.30, while Royal Exchange lost 8.22 per cent to close at 67 kobo, per share.

R.T. Briscoe Nigeria shed 7.69 per cent to close at 24 kobo, while International Energy Insurance shed 6.92 per cent to close at N1.21, per share.

Meanwhile the total volume of trades decreased by 24.23 per cent to 137.287 million units, valued at N1.510 billion, and exchanged in 3,489 deals. Transactions in the shares of Transnational Corporation (Transcorp) topped the activity chart with 26.085 million shares valued at N33.979 million.

Zenith Bank followed with 14.721 million shares worth N353.890 million, while Sterling Bank traded 13.231 million shares valued at N20.019 million.

United Bank of Africa (UBA) traded 10.242 million shares valued at N81.385 million, while Access Holdings transacted 7.626 million shares worth N66.201 million.

March 16, 2023
Equities Market Opens Positive, Up N20bn

by Janet Olushola

Equities on the Nigerian Exchange Limited, opened the week positive as market capitalisation advanced by N20 billion.

The All Share Index (ASI) rose by 37.37 absolute points, representing a gain of 0.07 per cent to close at 54,364.67 points. Accordingly, investors gained N20 billion in value as market capitalisation went up to N29.611 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Conoil, MRS Oil Nigeria, Vitafoam Nigeria, Lafarge Africa and Zenith Bank.

This week, United Capital Plc said “we expect the depressed interest rate environment to continue to favour the equities market in line with our expectations for Q1, 2023. “We note that the profit-taking activities seen during the week serve as a caution to market participants as the bears may fully resume.”

Market breadth closed positive as 18 stocks posted gains while eight declined. Conoil recorded the highest price gain of 9.98 per cent to close at N35.25, per share. MRS Oil Nigeria followed with a gain 9.24 per cent to close at N23.00, while Chams Holding Company went up by 8.00 per cent to close at 27 kobo, per share.

GlaxoSmithKline Consumer Nigeria went up by 6.25 per cent to close at N6.80, while Champion Breweries appreciated by 6.22 per cent to close at N4.78, per share.

On the other hand, Computer Warehouse Group (CWG), led the losers’ chart by 9.18 per cent to close at 89 kobo, per share. Fidelity Bank followed with a decline of 2.87 per cent to close at N5.42, while Nigerian Aviation Handling Company (NAHCO) went down by 2.38 to close at N8.20, per share. FBN Holdings (FBNH) lost 1.69 per cent to close at N11.65, while Union Bank of Nigeria (UBN) shed 0.75 per cent to close at N6.65, per share.

The total volume traded fell by 19.8 per cent to 140.841 million shares, worth N3.159 billion, and traded in 3,553 deals.

Transactions in the shares of United Bank for Africa (UBA) topped the activity chart with 28.624 million shares valued at N239.736 million. Guaranty Trust Holding Company (GTCO) followed with 22.878 million shares worth N575.257 million, while Access Holdings traded 14.743 million shares valued at N134.235 million.

Zenith Bank traded 12.598 million shares valued at N319.219 million, while Chams Holding Company transacted 5.451 million shares worth N1.456 million.

February 13, 2023
Stock Market Opens Week With N81bn Gain

Opening the week, Nigerian equities extended gains from last week as the market capitalisation closed N81 billion stronger on buying interests in MTN Nigeria Communications (MTNN) Plc and 15 others.

The All Share Index (ASI) rose by 154.65 absolute points, representing a gain of 0.29 per cent to close at 53,157.83 points. Accordingly, investors gained N81 billion in value as market capitalisation went up to N29.609 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; MTNN, Nigerian Exchange Group, Industrial & Medical Gases Nigeria, United Capital, Lafarge Africa and Oando.

This week, United Capital Plc, said “we expect the bourse’s broad-based bullish run to continue as investors’ risk-on sentiments continue to prevail amid decent earnings performance and a depressed yield environment in the money market. “We see room for pockets of bearish sentiments owing to profit-taking activities. We recommend that fund managers cherry-pick stocks with attractive prices, solid valuations, and dividend performance to take advantage of an extension of the current bullish run.”

As measured by market breadth, market sentiment was mixed, as an equal number of stocks (16) gained and lost. Sovereign Trust Insurance recorded the highest price gain of 10 per cent to close at 33 kobo, per share. Linkage Assurance followed with a gain 8.89 per cent to close at 49kobo, while International Energy Insurance rose by 8.08 per cent to close at N1.07, per share.

Industrial & Medical Gases Nigeria went up by 4.55 per cent to close at N8.05, while Courteville Business Solutions appreciated by 4.08 per cent to close at 51 kobo, per share. On the other hand, McNichols Plc led the losers’ chart by 8.96 per cent to close at 61 kobo, while Prestige Assurance followed with a decline of 8.70 per cent to close at 42 kobo, per share.

FTN Cocoa processors lost 6.06 per cent to close at 31 kobo, while SUNU Assurance and Japaul Gold & Ventures shed 5.88 per cent each to close at 32 kobo each respectively, per share.

The total volume traded declined by 28.5 per cent to 191.636 million units, valued at N4.799 billion, and exchanged in 4,359 deals.

Transactions in the shares of Guaranty Trust Holding Company (GTCO) topped the activity chart with 50.585 million shares valued at N1.271 billion. Zenith Bank followed with 18.017 million shares worth N452.440 million, while Chams Holding Company traded 16.628 million shares valued at N4.451 million.

United Bank for Africa (UBA) traded 14.935 million shares valued at N125.390 million, while Transnational Corporation of Nigeria (Transcorp) transacted 14.171 million shares worth N18.790 million.

February 6, 2023