Markets
Custodian Investment tops gainers chart WTD July 13 2018
The Nigerian Stock Exchange (NSE) continued the month of July on a bearish note as the All Share Index closed at 37,392.77 basis points. Week to date, the market closed down 0.62%
Year to date, the index is down 2.22%.
21 equities appreciated in price during the week, 55 equities depreciated in price, while 93 equities recorded in the preceding week.
Gainers
Custodian Investment Plc
Custodian Investment was the biggest gainer in this week’s trading session, up 17.47%. The stock opened at N5.21 and closed at N6.12.
Custodian, earlier this week, hit an all-time high of N6.89 per share. Year to date, the stock is up 57%.
C&I Leasing Plc
C&I Leasing appreciated by 10.22% during the week. The stock opened at N2.25 and closed at N2.48, up N0.23. Year to date, the stock is up 92.2%.
This week, the company concluded the buyout of 27.5% minority stake in C&I Petrotech Marine Limited. The buyout makes C&I Petrotech Marine Limited a fully owned subsidiary of C&I Leasing Plc.
Forte Oil Plc
Forte Oil opened at N26.35 and closed at N28.90, up N2.55 or 9.68%. Year to date, the stock is down 33.1%. Last week, Forte touched an all-time low.
11 Plc
11 Plc (pronounced double one Plc) was formerly known as Mobil Oil Nigeria Plc. The stock appreciated by 9.39% this week. The stock opened at N165 and closed at N180.50. Year to date, the stock is down 7.2%.
Equity Assurance Plc
Equity Assurance gained 9.09% this week. The stock opened at N0.22 and closed at N0.24. Year to date, the stock is down 52%.
Yesterday, the company issued a notice to the Nigerian Stock Exchange, informing the investing community of the change in its name to SUNU Assurances Nigeria Plc.
Regency Alliance Insurance
Regency opened at N0.24 and closed at N0.26. Year to date, the stock is down 48%.
First Aluminum Plc
First Aluminium gained 7.89% this week. The stock opened at N0.38 and closed at N0.41, up N0.03. Year to date, the stock is down 18%.
CAP Plc
Chemical and Allied Products Plc (CAP Plc) is a subsidiary of UAC of Nigeria Plc, one of Nigeria’s oldest conglomerates. The company is into the manufacture and sales of paints and coatings.
CAP opened at N35 and closed at N37, up N2.00 or 5.71%. Year to date, the stock is up 8.8%.
Vitafoam Plc
Vitafoam Nigeria Plc gained 4.84% this week. The stock opened at N3.10 and closed at N3.25, up N0.15. Year to date, the stock is up 8.3%.
Caverton Offshore
Caverton opened the week at N2.01 and closed at N2.10, up N0.09 or 4.48%. Year to date, the stock is up 62.8%.
Losers
Tantalizers Plc
Tantalizers Plc was incorporated 1997 as a private limited liability company. It became a public limited liability company on April 23, 2008, and was listed on the Nigerian Stock Exchange on June 23, 2008.
Tantalizers provides quick service restaurants and outdoor catering services.
Tantalizers was the biggest loser last week, shedding 25%. The stock opened at N0.36 and closed at N0.27. Year to date, the stock is down 46%.
Mutual Benefits Assurance Plc
Mutual Benefits opened at N0.45 and closed at N0.34, down N0.11 or 24.44%. Year to date, the stock is down 32%.
DN Tyre and Rubber Plc
DN Tyre and Rubber Plc (formerly known as Dunlop Nigeria Plc) lost 20.69% during the week. The stock opened at N0.29 and closed at N0.23, down N0.06.
Multiverse Mining and Exploration Plc
Multiverse Mining opened at N0.24 and closed at N0.20, down N0.04 or 16.67%. Year to date, the stock is down 60%.
The company this week denied knowledge of insider trading by one of its shareholders, Heritage Capital Markets Limited.
Sovereign Trust Insurance Plc
Sovereign Trust Insurance shed 14.81% during the week. The stock opened at N0.27 and closed at N0.23. Year to date, the stock is down 54%.
The Initiates Plc
The Initiates Plc was incorporated as a private limited liability company on March 3, 1995. It became a public limited company on June 24, 2015, and was listed on the Nigerian Stock Exchange (NSE) on October 25, 2016.
The company is engaged in Waste Management, E-waste, Industrial Cleaning, and decontamination.
The Initiates Plc opened at N0.72 and closed at N0.62. The stock lost N0.10 or 13.89%. Initiates was marked down during the week, following a dividend payment of N0.04 for the 2017 financial year. Ex-dividend price was N0.68. Year to date, the stock is down 24.3%.
Skye Bank Plc
Skye Bank closed at N0.63 this week, down N0.10 or 13.70%. Year to date, the stock is up 26%.
Japaul Oil and Maritime Services Plc
Japaul Oil opened at N0.36 and closed at N0.32, down N0.04 or 11.11%. Year to date, the stock is down 36%.
Linkage Assurance Plc
Linkage Assurance closed down 10% during the week. The stock opened at N0.80 and closed at N0.72. Year to date, the stock is up 9.1%.
Beta Glass Plc
Beta Glass Plc manufactures, distributes and sells glass bottles and containers for the leading soft drinks, wine and spirit, pharmaceutical and cosmetics companies.
The company is a subsidiary of Frigoglass Industries Nigeria Limited (the parent company) which holds 61.9% of the ordinary shares of the company. The ultimate controlling party is Frigoglass S.A.I.C, Athens.
Beta Glass opened at N90, and closed at N81, dropping N9 or 10%. Year to date, the stock is up 57.9%.
Stock Market
Dangote Cement loses N92 billion on NGX, as investors digest Q1 2021 financial results
The NGX All-Share Index and market capitalization declined by 0.92%, as shares of Dangote Cement and MTN declined.
The stocks of top cement companies on Wednesday closed in the downline as investors sold off stakes in the shares of Dangote Cement despite impressive Q1 2021 results.
Data tracked on the Nigerian Stock Exchange revealed that the shares of Nigeria’s most capitalized company lost a whopping N92 billion in market value, at the back of a 2.49% decline in the share price of the leading cement producer.
On the flip side, shares of BUA Cement, another key producer in the Nigerian cement industry closed flat on the exchange today, while Lafarge Africa lost a meagre N1.6 billion of its market capitalization, triggered by a 0.47% decline in its share price.
The impact of this decline on the NSE Industrial Index
The 2.49% decline in the shares of Dangote Cement weighed heavily on the Industrial index, an index that tracks the performance of industrial companies listed on the Nigerian Stock Exchange.
At the end of the market today, the industrial index closed lower at 1918.94 index points, driven by the N92 billion market value loss which Dangote Cement suffered today on the exchange.
The index depreciated by 1.19% to print its biggest loss in a day since the 3oth of March when it depreciated by 1.90%.
Decline in Dangote Cement and MTN Nigeria shares weighed on the Nigerian Stock Exchange
The Nigerian Stock Exchange NGX, closed on a negative note today largely occasioned by the decline in the shares of MTN Nigeria and Dangote Cement.
The shares of MTN Nigeria suffered a market value decline of 4.65%, to close the day lower at N162 per share as investors continue to price in the impact of regulatory restrictions on new SIM sales and activations on the revenue and earning power of the company. Mobile subscribers on the MTN’s network declined by 5 million to 71.5 million in the first quarter of 2021.
This bearish sentiments in the shares of MTN and Dangote Cement both led to the NGX All-Share Index and market capitalization decline of 0.92%, to close lower at 39,111.30 index points and N20.468 trillion respectively.
Stock Market
Conoil, Courtville soar as NGX ASI plummets
The All-Share Index decreased by -0.81% to close at 39,114.73 from 39,433.81.
The Nigerian Stock Exchange market maintained the bearish momentum speculated by analysts. The All-Share Index decreased by -0.81% to close at 39,114.73 from 39,433.81.
• Nigerian Stock Exchange market value currently stands at N20.64 Trillion. Its Year-to-Date (YTD) returns currently stand at -2.87%.
• The market breadth closed negative with the bears as CONOIL led 25 Gainers, and 20 Losers topped by BOCGAS showing a hint of consolation.
Top gainers
1. CONOIL up +10.00% to close at N18.70
2. COURTVILLE up +10.00% to close at N0.22
3. SEPLAT up +9.99% to close at N604.40
4. LINKASSURE up +8.62% to close at N0.63
5. ACCESS up +5.19% to close at N8.10
Top losers
1. BOCGAS down -9.99% to close at N12.25
2. LIVESTOCK down -9.90% to close at N1.73
3. SCOA down -9.66% to close at N2.15
4. REDSTAREX down -9.59% to close at N3.11
5. REGALINS down -9.38% to close at N0.29
Outlook
The Nigerian stock market continued the bearish run held yesterday as it posted losses once again at the end of the trading session today.
• Market sentiments tend toward consolidations as the NGX ASI closes with 25 Gainers and 20 Losers.
• Nairametrics advises cautious buying in this era of growing uncertainties.
