Author: Marketforces Africa

MTN Nigeria Declines by 7% Amidst Block Trade Telecommunication Company, MTN Nigeria Plc, lost more than 7% of its market value on the Nigerian Exchange, NGX, in the last seven trading sessions as investors sentiment dropped. The telecom company had stabilised as market anticipates Q1 earnings to reflect quality of its strategies post naira devaluation and latest moves including renegotiation of tower deals. The telecom company share was priced lower just two times in the previous week amidst a huge block trades outside the Nigerian bourse. In the week, the telecom company experience huge trading shares volume in a cross…

Nigeria Top Big Banks Market Value Falls to N7.6 Trillion Top big banks combined market value declined to about N7.6 trillion in the equities segment of the Nigerian Exchange, NGX, according to transaction details reviewed by MarketForces Africa, with two of these top lenders yet to release their capital raise results. In the just concluded week, all the banks in the tier-1 category saw their combined market value nosediving by more than N40.666 billion, reflecting equities investors weak sentiment on the exchange. The negative price movement caused the banking index to decline week on week, though Zenith Bank Plc closed…

Geregu Power Marked Down for Dividend Ahead of Annual Meeting The market value of Geregu Power Plc has reduced to N2.853 trillion on the Nigerian Exchange, NGX, after its share price was marked down for dividend payment ahead of the annual meeting on March 28. The stock, which has remained steady at N1,150 for long, fell to N1,141.50 on Friday as the Nigerian Exchange quoted the power-generating company at its ex-dividend price. The company announced N8.50 as the final dividend for its shareholders after impressive performance in 2024. “If approved by the members at the Annual General Meeting, dividends will…

Yield Rises as Investors Trim Bonds Holding Ahead of Inflation The average yield on Nigerian government bonds climbed by three basis points in the secondary market to close at 18.46%, traders said in separate updates. Investors ramped up bonds ahead of inflation data set for February. Most of the investors’ activity was observed at the mid-segment (+8bps) of the curve, particularly on the FEB-31 (+39bps), JUL-30 (+27bps), and NOV-29 (+13bps) papers, CardinalStone said in a note. Trading activities were subdued, marked by weak demand and a liquidity squeeze that pressured mid-tenor bonds. During early trading session, sell pressure dominated, leading…

CBN to Open N800bn Treasury Bills for Subscription The Central Bank of Nigeria (CBN) is set to open N550 billion worth of Nigerian Treasury bills for subscription this week, according to its revised calendar. The monetary authority will offer investors opportunities to subscribe to Treasury bills at the primary market auction on Wednesday. The amount in offer is expected to be split across standard maturities of 91 days, 182 days, and 364 days. In separate discussions with MarketForces Africa, analysts predicted the offer will be significantly oversubscribed, reflecting the current market mood. With interest rate expectations pointing downward, analysts anticipate…

FCMB Climbs as Investors Await Audited Results FCMB Group Plc.’s market value increased by about 8% to N388 billion in the equities segment of the Nigerian Exchange following the release of second quarter of 2025 earnings target. Its market price increased by 7.7% to N9.80 in the equities market as investors take position amidst Q2 earnings target. The stock price is more than 24% below its 52-week high on the Nigerian Exchange. Reflecting active trade, FCMB saw significant volume transactions on its stocks last week. By midweek, more than 17 million of FCMB exchanged hands in the market, causing a…

Livestock Feed Soars by 22% on Fresh Rally Livestock Feeds Plc.’s market value soared by more 22% in the equities market due to fresh rally. Its share price reached N110.20 on Friday as more than 2.1 million shares valued at about N21.5 million exchanged hands. The stock maintained positive postures showing investors taking position ahead of first quarter of 2025 earnings release. Transactions on Livestock has been impressive since it returned to profitability. The stock is tracking behind N10.83, its 52-week high on the Nigerian Exchange, a potential buying opportunities for alpha seekers. The positive price movement pushed Livestock Feeds market…

Conoil Declines by 10% on One-off Sell Order Nigerian petroleum marketing company, Conoil Plc, market value declined by 10% in the stock market due to sell pressures. The oil company market value fell N331.2 in the equities market as investors exited positions. This caused Conoil Plc market value to reduce to N22.836 billion, spread over its 693,952,117 shares outstanding on the Nigerian Exchange. Its stock traded steadied until one off transaction that reduced its market value in the last seven trading sessions.  Majority of Conoil shares are held in few hands, which explained its low market activities. Shareholdings details review showed…

Nigerian Exchange Declines by N365bn over Weak Investors’ Sentiment Equities investors lost more little more than N365 billion on Nigerian Exchange, NGX, due to sell pressures seen across indexes. This marked the third consecutive week of negative performance, reaching a four-week low as bearish sentiment triggered sell pressure. The market witnessed sell pressures on MTN Nigeria which lost -4.22% of its market value. Investors priced down OANDO by -7.14% and UBA lost -3.56% of its market value. There was a touch on sell pressure on key stocks as weak sentiment persisted, causing prices to fluctuate significantly amidst earnings release. Investors…

Naira Sees Last Minute Rally as CBN Boost FX Liquidity The naira rebounded against the dominant foreign currency, the US dollar, in last-minute transactions supported by a relatively higher liquidity supply by the monetary authority. The exchange rate appreciated by about 2% to settle at N1,517.93 in the official market on Friday after persistent negative volatile.  Spot FX data obtained showed that the naira gained N29.89 on the day due to FX sales to banks, additional inflows from foreign sources, and reduced demand for foreign payments. Apex Bank FX interventions and inflows from offshore clients and local corporations boosted volume…