Connect with us
iubh
Advertisement
Alpha
Advertisement
Hotflex
Advertisement
Advertisement
Advertisement
UBA
Advertisement
Patricia
Advertisement
app

Manufacturing

Industrial index depreciates by -2.62%, as BUA Cement shares decline

The industrial index declined by -50.38 index points, to close at 1,873.17 index points for the week.

Published

on

Livestock Feeds Plc
0

The Nigerian Stock Exchange Industrial Index at the close of trading activities for the third week in the month of March closed on a bearish note as the top loser for the week ahead of other sectors.

At the close of trading activities on the Nigerian Stock Exchange on the 19th March 2021, the industrial index declined by -50.38 index points, to close at 1,873.17 index points for the week.

 

When compared to the overall performance of the market, the NSE Industrial index underperformed, as it declined by 2.62%, while the NSE All-Share Index and the market capitalization depreciated by -0.69%, to close the week at 38,382.39 points and N20.082 respectively.

What you should know

  • The NSE Industrial Index was designed to provide an investable benchmark to capture the performance of the Industrial Sector. It comprises the most capitalized and liquid companies in the industrial sector and is based on the market capitalization methodology.
  • The index monitors the performance of ten industrial companies on the Nigerian Stock Exchange which includes Dangote, BUA, and Lafarge Cement.
  • The overall performance of the companies for the week was relatively bearish, as the index closed on a negative note driven by a huge loss from BUA Cement shares.
  • BERGER (7.44%) was the top gainer for the week, followed by CUTIX (3.05%) and WAPCO (2.73%), BUACEMENT was the only loser for the week, but the size of the Cement maker dragged the index to close lower by more -2.62%.

Gainers

  • BERGER up by 7.44% to close at N6.50.
  • CUTIX up by 3.05% to close at N2.03
  • WAPCO up by 2.73% to close at N22.60

Loser

  • BUACEMENT down by -6.42% to close at N69.95.

Hotflex
0

Omokolade Ajayi is a graduate of Economics, and a certificate holder of the CFA Institute’s Investment Foundation Program. He is a business analyst, and equity market researcher, with wealth of experience as a retail investor. He is a business owner and a stern advocate of Financial literacy, who believes in the huge economic prospect of the Nigerian Payment channels and Fintech space.

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Manufacturing

Shareholders strike gold as Honeywell, NNFM shares gain N1.8 billion in 4 trading sessions

Shareholders of Northern Nigerian Flour Mills and Honeywell Flour Mills Plc pocket impressive gains.

Published

on

+1

Shareholders of Northern Nigerian Flour Mills and Honeywell Flour Mills Plc have received impressive gains of about N2.02 billion as the shares of the flour milling companies surged to incredible heights in four active trading sessions on the NGX.

According to data tracked on the Nigerian stock exchange from the 15th of April 2020 to the close of the market on the 21st of April, the joint market capitalization of the two flour millers –Honeywell and Northern Nigerian Flour Mills – on NGX increased by a total N2.02 billion.

READ: Oba Otudeko gains N690 million in a single session on NSE

This suggests that in about four trading sessions on the Nigerian Stock exchange, the shares of the two flour millers returned about N2.02 billion market gains to their holders, at the back of sustained buying interest in the shares of these companies.

Bargain hunters who picked up the shares of Honeywell and NNFM at N1.09 per share and N4.90 on the 14th and 15th of April 2021 respectively, were able to maximize their gains to the tune of about 30% and 20% respectively in about 4 to 5 trading sessions on the Nigerian equity market.

READ: Flour Mills shares surge by 6.9%, lifting the miller’s capitalization by N8.2 billion

The impact on the market capitalization of Honeywell and NNFM

The double-digit gains in the shares of Honeywell Flour Mills saw the market capitalization of the flour milling company surge by about N1.82 billion in total, from N9.44 billion on the 15th of April 2021 to N11.26 billion at the close of trading activities yesterday.

The market capitalization of Northern Nigerian Flour Mills Plc in reaction to the gains in its share price, surged from N873 million on the 15th of April 2021 to N1.07 billion at the close of trade on the NSE yesterday, placing the total gains at N197 million.

READ: Dangote Flour Mills shareholders unanimously approve company acquisition  

SSKOHN

The total market value gains of Honeywell Flour Mills Plc and Northern Nigerian Flour Mills Plc in four days are put at about N2.017 billion, despite the lacklustre state of the Nigerian equity space.

What you should know

  • At the close of trading activities yesterday, the NGX All-Share Index and market capitalization appreciated by 0.29% to close higher at 39,128.34 index points and N20.477 trillion respectively.
  • While the NGX Consumer goods index, an index that tracks the performance of the shares of consumer goods companies like NNFM and Honeywell on the Nigerian Stock Exchange, depreciated by -0.35% to close at 553.26 index points.

+1
Continue Reading

Manufacturing

Honeywell shares surge by 10% in a day, lifting the miller’s capitalization by N1.03 billion

Honeywell’s market price cleared on Tuesday at N1.43 per share, which was 20% higher than Monday’s N1.30 closing price.

Published

on

Honeywell gains 10% in today’s trading session, as investors scamper for shares of the company
0

Shares of Honeywell Flour Mills Plc., a major flour milling company in Nigeria, surged by 10%, lifting the company’s market capitalization by N1.03 billion at the close of trading activities on the Nigerian Stock Exchange on Tuesday.

The impressive N0.13 per share or 10% gain in the shares of Honeywell was driven by the buying interest in the shares of the flour miller, as investors bid the shares of the indigenous miller high in yesterday’s session.

This bullish move in the shares of the miller pushed its market capitalization up by about N1.03 billion on the exchange, from N10.31 billion at market open to N11.34 billion at the close of the market.

READ: Nigerians increasingly using Bitcoin since CBN’s Crypto ban

Market activity

Honeywell’s market price cleared on Tuesday at N1.43 per share, which was 20% higher than Monday’s N1.30 closing price.

During trading hours on the Exchange, about 8,935,946 ordinary shares of Honeywell Flour Mills Plc worth about N12.56 million, were exchanged in 150 executed deals on the Nigerian Stock Exchange on Tuesday.

However, the performance of other flour millers on the exchange was rather bland as shares of Flour Mills Nigeria Plc., and Northern Nigerian Flour Mills closed flat at N31.00 per share and N5.85 per share respectively.

READ: NSE-30 companies lose N1.13 trillion in market capitalisation year-to-date

What you should know

  • The Nigerian Stock Exchange All-Share Index and Market Capitalization appreciated by 0.43% to close the day higher at 39,015.58 index points and N20.418 trillion respectively.
  • The NSE Consumer Goods Index, an investable benchmark designed to track the performance of consumer goods companies like Honeywell Flour Mills, appreciated by 0.38% to close the day higher at 555.22 index points.

SSKOHN
0
Continue Reading

  





Nairametrics | Company Earnings

Access our Live Feed portal for the latest company earnings as they drop.