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Tag: Multiverse Mining & Exploration

  • Equities Commence Trading On Decline With N4bn Loss

    Equities Commence Trading On Decline With N4bn Loss

    by Janet Olushola

    The domestic equities market kicked off this week on a downward note, as profit taking in Nigerian Exchange Group Plc and 20 others led the overall capitalisation to close N4 billion lower. 

    The All-Share Index declined by 6.14 per cent, representing a decrease of 0.01 per cent, to close at 55,788.37 points. Similarly, the market capitalisation value lost N4 billion to close at N30.391 trillion. 

    The market negative performance was driven by price depreciation in large and medium capitalised stocks which are; Nigerian Exchange Group, Zenith Bank, Guaranty Trust Holding Company (GTCO), Lafarge Africa and FBN Holding (FBNH).

    This week, United Capital Plc expected “the depressed interest rate environment to continue to favour the equities market in line with our expectations for Q1, 2023. 

    “We believe that taking positions in stocks with solid valuations and dividend yields ahead of the dividend-paying season is a good strategy. However, we note that there may be profit-taking activities from the extended rallies.

    ”The market breadth was negative as 21 stocks lost relative to 12 gainers. University Press recorded the highest price gain of 9.89 per cent to close at N2.00, per share. Computer Warehouse Group (CWG) followed with a gain of 7.69 per cent to close at 98 kobo and Multiverse Mining and Exploration up by 5.04 per cent to close at N3.75, per share.

    BUA Foods rose by 4.21 per cent to close at N99.00, while Regency Alliance Insurance gained 3.45 per cent to close at 30 kobo, per share.

    On the other hand, Nigerian Exchange Group led the losers’ chart by 9.72 per cent to close at N26.00, per share. NPF Microfinance Bank followed with a decline of 8.47 per cent to close at N1.73, while Courteville Business Solutions lost 6.25 per cent to close at 45 kobo, per share. Linkage Assurance declined 4.35 per cent to close at 44 kobo, while Royal Exchange shed 3.95 per cent to close at 73 kobo, per share.

    Also, the total volume traded declined by 35.14 per cent to 179.028 million units, valued at N2.547 billion, and exchanged in 4,296 deals. Transactions in the shares of Nigerian Exchange Group topped the activity chart with 38.154 million shares valued at N994.554 million.

    Transnational Corporation (Transcorp) followed with 19.734 million shares worth N26.602 million, while Sterling Bank traded 15.885 million shares valued at N23.081 million.

    Zenith Bank traded 14.835 million shares valued at N374.263 million, while United Bank for Africa transacted 13.695 million shares worth N112.480 million.

  • Equities Market Advances By N73bn Amid Renewed Bullish Activity

    Equities Market Advances By N73bn Amid Renewed Bullish Activity

    The domestic equities market yesterday increased by N73 billion amid renewed bargain-hunting activity.

    The All Share Index (ASI) rose by 134.50 points, representing an increase of 0.28 per cent to close at 48,988.04 points. While the overall market capitalisation value gained N73 billion to close at N26.682 trillion.

    The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; BUA Cement, NASON Allied Industries, Red Star Express, United Capital and Nigerian Aviation Handling Company (NAHCO).

    Market sentiment, as measured by market breadth was positive as 16 stocks gained, relative to 12 losers. Red Star Express recorded the highest price gain of 9.71 per cent to close at N2.26, per share. Chams followed with a gain 9.52 per cent to close at 23 kobo, while SCOA  rose by 8.97 per cent to close at 85 kobo, per share.

    Learn Africa went up by 8.84 per cent to close at N1.97,  while Lasaco Assurance appreciated by 7.14 per cent to close at 90 kobo, per share. On the other hand, Prestige Assurance led the losers’ chart by 8.70 per cent to close at 42 kobo, per share. Multiverse Mining and Exploration followed with a decline of 8.51 per cent to close at N3.98, while Linkage Assurance depreciated by 6.98 per cent  to close at 40 kobo, per share.

    Eterna declined by 5.75 per cent to close at N6.07, while Dangote Sugar Refinery depreciated by 5.56 per cent to close at N15.30, per share.

    However, the total volume of trades decreased by 45.95 per cent to 88.039 million units, valued at N1.676 billion, and exchanged in 2,832 deals. Transactions in the shares of Guaranty Trust Holding Company (GTCO) topped the activity chart with 10.214 million shares valued at N213.647 million. Zenith Bank followed with 9.787 million shares worth N225.271 million, while Jaiz Bank traded 7.911 million shares valued at N7.023 million.

    Sterling Bank traded 5.167 million shares valued at N7.089 million, while United Capital transacted 4.471 million shares worth N61.571 million.

  • Equities Market Extends Bullish Run By N39bn

    Equities Market Extends Bullish Run By N39bn

    Bullish sentiments persisted in the Nigerian equities market as capitalisation advanced by N39 billion.

    The All Share Index (ASI) rose by 71.64 absolute points, representing a gain of 0.16 percent to close at 44,859.78 points.

    Accordingly, investors gained N39 billion in value as market capitalisation went up to N24.434 trillion. The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Geregu Power, BUA Cement, Multiverse Mining & Exploration and University Press.

    On market outlook, analysts at United Capital Plc expected mixed sentiments to persist, as pre-election risks amplify and investors anticipate the release of companies third quarter (Q3) results.

    However, market breadth remained negative as 12 stocks posted gains while 19 stocks posted declines. Multiverse Mining & Exploration and R.T. Briscoe Nigeria recorded the highest price gain of 10 percent each to close at N4.62 and 33 kobo, while University Press followed with a gain of 9.15 percent to close at N1.79, per share. FTN Cocoa processors went up by 7.41 percent to close at 29 kobo, while AIICO Insurance and Geregu Power appreciated by 5.45 percent each to close at 58 kobo and N116.00, per share.

    On the other hand, Cutix led the losers’ chart by 6.51 percent to close at N2.01, per share. Jaiz Bank followed with a decline of 6.19 percent to close at 91 kobo, while Dangote Sugar Refinery went down by 5.83 to close at N15.35, per share. Sterling Bank lost 3.85 percent to close at N1.50, while Sovereign Trust Insurance shed 3.85 percent to close at 25 kobo, per share.

    The total volume traded declined by 41.26 percent to 93.515 million shares, worth N3.383 billion, and traded in 3,187 deals. Transactions in the shares of Geregu Power topped the activity chart with 12.794 million shares valued at N1.292 billion. Sterling Bank followed with 9.485 million shares worth N14.276 million, while Access Holdings traded 6.318 million shares valued at N48.610 million.

    Zenith Bank traded 6.246 million shares valued at N122.708 million, while Ecobank Transnational Incorporated (ETI) transacted 5.623 million shares worth N62.411 million.