Airtel Africa Gets Ten Year Frequency Licence In Kenya as Stock Market Capitalisation Declined By ₦3.2bn
Airtel Africa PLC has said at the floor of the stock exchange that its Kenyan subsidiary, Airtel Kenya Networks Limited, has reached a consensus with the Communications Authority of Kenya regarding its operating and spectrum licences and has subsequently received approval for the replacement of its temporary licence with a ten- year frequency licence for 2×10 MHz of spectrum in the 2100MHz band. Meanwhile the Nigerian Stock market commenced the week on a negative note as the benchmark index fell 1bp to 47,262.61 points due to losses in SEPLAT (-4.3%), UBN (-4.0%), and AIICO (-5.7%). Accordingly, YTD return trimmed to 10.6% while market capitalisation declined ₦3.2bn to ₦25.5tn. Meanwhile, volume and value traded advanced 62.8% and 34.5% respectively to 291.9m units and ₦2.9bn.
Across our coverage sectors, performance was mixed as 3 indices gained, 1 lost while the AFR-ICT and Industrial Goods indices closed flat. The Banking index led the gainers, up 0.7% on price uptick in ZENITH (+1.5%) and UBA (+1.8%). Similarly, the Insurance and Consumer Goods indices gained 0.2% apiece due to buying interest in MBENEFIT (+4.0%), HONYFLOUR (+5.1%), and DANGSUGAR (+0.6%). Conversely, the Oil & Gas index was the lone loser, down 2.4% following price depreciation in SEPLAT (- 4.3%). Investor sentiment, as measured by market breadth, weakened to 0.01x from 0.02x as 19 stocks gained, 18 stocks lost while 69 closed flat.
Trade Summary
Market Cap (₦’bn) 25,471.97
Market Cap ($’bn) 61.1
NGX All-Share Index 47,262.61
Daily Performance % 0.0%
WTD Performance % 0.0%
MTD Performance % -0.3%
QTD Performance % 10.6%
YTD Performance % 10.6%
Daily Volume 291.9
Daily Value (₦’bn) 2.9
Daily Value ($’m) 6.9
Sectoral Indices Performance
NGX 30 0.0%
NGX BANKING INDEX 0.7%
NGX INSURANCE INDEX 0.2%
NGX CONSUMER GOODS INDEX 0.2%
NGX OIL/GAS -2.4%
NGX LII 0.0%
NGX INDUSTRIAL GOODS INDEX 0.0%
NGX-AseM 0.0%
About The Author
