Snapshot

Nigerian Equities Market erased previous day gain to close in the negative territory and opened the week on a negative note.

The NGX All-Share Index dipped by 0.46% to close at 50,489.73 basis points as against 0.28% gain recorded to close at 50,722.33 basis points at the end of the previous trading session. In Naira terms, the NGX Market CAP records N125.45bn loss.

YTD, the NGXASI Stands at +18.20% 

The total volume traded advanced by +39.24% to close at 148.81m, valued at N1.93bn and traded in 4,091 deals. FBNH was the most traded stock by volume with 74.63m units traded while FBNH was also the most traded stock by value which is put at N820.15m. 

Sectoral performance was broadly negative as two (2) NGX sector index closed northward, eleven (11) closed southward while five (5) closed flat. The NGX Insurance Index inched up by 1.36% to top the gainers while NGX Banking Index dipped by -1.10% to the losers’ chart.

Gote index inched up by 0.01% to close at 138.39 basis points while Toni index also inched up by 0.11% to close at 109.33 basis points.

At the close of trading, market recorded 9 gainers to 12 losers and 82 unchanged. HONYFLOUR topped the list of gainers while RTBRISCOE topped the list of losers. 

Thus, market breadth closed negative as the Market Breadth Index (MBI) is put at -0.04x.

Volume and Value Contribution

FBNH led the volume’s chart with 36.02% contribution and closely followed by MULTIVERSE and ACCESSCORP

FBNH tops the value’s chart with 38.70% contribution and closely followed by ZENITHBANK and MTNN

NGX Earnings Summary

The following company(ies) released its result on the NGX Exchange today.

NGX Corporate News

Caverton Offshore Support Group Plc has announces its unaudited results for the period ended 30th June 2022. The results show a profit-after tax of N203m. 

Commenting on the results, Caverton’s Chief Executive Officer, Mr. Bode Makanjuola, said that the company faced tremendous financial and operational head winds in the first half of the year which necessitated the need for the management and the board of Caverton to urgently review the company’s management structure and business portfolio as a Group. We recently announced the appointment of a new Managing Director for Caverton Helicopters, restructured Caverton Offshore Support Group’s executive management and diversified our aviation business from oil and gas aviation logistics to third party training and maintenance, via our recently commissioned Maintenance Repair and Overhaul (MRO) facility and our Caverton Aviation Training Centre (CATC), both in Lagos. These announcements have been well received by the wider aviation and oil and gas industry and we are confident this strategy would yield positive financial fortunes for the Group whilst addressing this infrastructure gap in the aviation sector of Nigeria and sub-Saharan Africa. 

Our marine subsidiary, Caverton Marine, has also been repositioned for growth with our foray into local manufacturing of GRP boats. We recently launched our prototype 40-seater GRP ferry at the recently concluded NOG 2022 conference in Abuja, Nigeria and reception has been very positive. The ferry protype was locally built to the highest safety and quality standards under guidance of government and safety agencies and has applications in both oil and gas and commercial mass transit ferry transportation

The NASD market index inched up by 0.38% to close at 764.18 basis points as against 0.09% loss recorded previously to close at 761.27 basis points

The total volume traded declined by +17.24% to close at 0.543m units valued at N125.03m and traded in 12 deals. 

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

Volume and Value Contribution

SDNDEP led the volume chart with 99.05% contribution while SDNDEP led the value chart with 99.88% 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.

On the global scene, the Russia MICEX Index leads the top five gainers with 1.71 gain while the Hong Kong Hang Seng Index tops the top five losers with -0.77% loss as of 4pm Nigerian Time

1.4 African Indices

Similarly, on the African scene, the Namibia NSX Index tops the top five gainers with 2.28% gain while the Nigeria All Share Index tops the top five losers with -0.46% loss as of 4pm Nigerian Time

2.1 Debt Market Size

The FMDQ Debt Market Size grew by 0.10% to close at N29.16trn as against previous figure of N29.13trn.

2.2 Overnight and Open Repo (OPR)

The overnight lending rate closed flat at 15.00% while the Open Repo (OPR) rate expanded by 0.25% to close at 14.75%

The AFEX ACI declined by 0.61% to close at 451.21 points while the AEI advanced by 9.49% to close at 206.90 points

Paddy Rice declined by -6.93% to top the losers’ chart while other commodities closed flat.

3.3 Global Commodity Prices

Gold recorded 0.72% gain while Silver also advanced by 3.77% as of 13:14 NY time

In the energy market, Brent advanced by 1.06% while WTI also advanced by 1.12% as of 12:20PM Central Daylight Time (CDT)

The naira depreciated by 0.67% at the I&E FX Window to close at N431.00/USD while the NAFEX rate appreciated by 0.39% to close at N424.50