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Markets

NSE closes down as PZ Cussons hits 5 year low

The Nigerian Stock Exchange ended Friday’s trading session on a negative note.

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Nigerian stock exchange, All share index, Nigerian bourse, Investors, Bulls gather momentum ASI up 0.48%, gained N55.3 billion, Dangote ,MTN & Gtbank hit a home run as Nigeria’s bourse continues bullish momentum

The Nigerian Stock Exchange ended Friday’s trading session on a negative note. The All Share Index closed at 32,000.21 basis points, down 0.09%. Year to date, the index is down 15.80%.

Top Gainers and Losers 

John Holt Plc was the best performing stock today. The stock closed at N0.44, up 10%. Livestock Feeds Plc was next with a 7.69% gain to close at N0.56. NEM Insurance rounds up the top three top gainers with a 7.69% gain to close at N2.80.

On the flip side, fast-moving consumer good giant, PZ Cussons was the worst performing stock today. The stock declined by 10%, to close at a 5 year low of N9. Union Bank fell by 8.49% to close at N4.85. Oando shed 7% to close at N4.65.

Top Trades by Volume  

Access Bank was the most actively traded stock today. 16.6 million shares valued at N130 million were traded in 103 deals.

FBN Holdings was next with 16.1 million shares valued at N120 million traded in 232 deals.

Interlinked technologies Plc rounds up the top three traded stocks with 15.5 million shares valued at N55.8 million traded in 4 deals.

Corporate Actions

NSE lifts the suspension on FTN Cocoa

The Nigerian Stock Exchange today lifted a suspension placed on FTN Cocoa Processors Plc, following the submission of its results.

United Capital appoints two Non-Executive directors

United Capital Plc announced the appointment of Sonny Iroche and Stephen Nwadiuko as Non-Executive Directors effective October 2, 2018.

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training.He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE).He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy.You can contact him via [email protected]

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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.

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Dangote powers cement plant in Tanzania with gas turbines, Dangote Cement Plc records 34.20% increase in 2020 Q3 revenues, Dangote Cement market capitalization increased by 28% to cross N3 trillion mark in November

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.

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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.

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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.

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CONOIL consolidates success despite industry worries

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.

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• 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.

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