Home Stock Market Airtel Africa gets ten year frequency licence in Kenya as stock market capitalisation declined by ₦3.2bn

Airtel Africa gets ten year frequency licence in Kenya as stock market capitalisation declined by ₦3.2bn

by Business News Report

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%

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