The Nigerian Stock Exchange ended the last trading session for the week and the first trading week of 2019 on a negative note. The All Share Index closed at 30,638.90 basis points, down 0.43%. Year to date, the index is down 2.54%.
Top Gainers and Losers
University Press was the best performing stock today. The stock gained 8.63% to close at N2.14. Livestock Feeds was next, appreciating by 6.12% to close at N0.52. Sovereign Trust Insurance rounds up the top 3 with a 5% gain to close at N0.21.
On the flip side, Diamond Bank was the worst performing stock today. The stock shed 10% to close at N1.80. BOC Gas was next with a 9.98% decline to close at N3.79. Vitafoam rounds up the top three gainers, dropping by 9.82% to close at N4.50.
Top Trades by Volume
AIICO Insurance was the most traded stock by volume today. 82.7 million shares valued at N52.9 million were traded in 15 deals. Diamond Bank was next with 71 million shares valued at N131 million traded in 387 deals. Zenith Bank rounds the top three trades by volume with 26.3 million shares valued at N574 million traded in 453 deals.
Guaranty Trust Bank
The bank’s board of directors will hold a meeting on January 30, 2019, to consider its audited financial statements for the 2018 financial year.
The bank will also commence a closed period on January 8, 2019, until when the results are released. During this time, those with access to sensitive information can not trade their shares.
Japaul Gold records 40% surge in a week raising its capitalization by N1.38 billion
Shares of the rebranded company surged by a whopping 40%, in the first active trading week in the month of April.
Japaul Gold took the market by surprise in the first active trading week in the month of April, as the shares of the rebranded company surged by a whopping 40%, to lift the company’s capitalization by about N1.38 billion.
The recent move which led to the N1.38 billion increase in Japaul Gold’s market value can be attributed to the actions of bargain hunters and value investors.
These investors, during the week, seized the company’s relatively low price to accumulate additional stakes in the company, in a bid to capitalize on the upward swing in the price of the company’s shares.
Data tracked from the close of the market on the 1st of April to the close of trading activities on the exchange yesterday revealed that the shares of Japaul Gold and Ventures Plc surged by 40% from N0.41 to N0.63.
This suggests that the share price of the gold exploration company surged by 40% in just four trading sessions on the NSE this week. In line with this, the market capitalization of Japaul Gold increased from N2.57 billion to N3.95 billion, representing a N1.38 billion gain during the week.
In case you missed it: Prior to the recent move to N0.63 per share at the close of the market yesterday, the shares of Japaul Gold bottomed at N0.41 on the 31st of March 2021, after printing a record high of N1.67 per share on the 18th of January, 2021.
What you should know
- Nairametrics reported on Wednesday that shares in Japaul Gold and Ventures Plc surged by 29.3% in three trading sessions on the NSE, lifting the company’s capitalization by N752 million.
- The shares of the rebranded and restructured company with a new focus on Gold exploration as its new name suggests, rallied to a record 52-week high of N1.67 this year.
- At the current price, shares of Japaul Gold are trading at 1.61% higher than what the company’s shares sold for at the close of trading on the 31st of December 2021.
Crypto market surges above $2 trillion, as Bitcoin stages a huge comeback above $60,500
The global crypto market value at press time stood at $2.05 trillion, a 3.85% increase over the last day.
The flagship crypto is recording a significant buying spree as Bitcoin bounced above the $60,500 price level once again.
The global crypto market value at press time stood at $2.05 trillion, a 3.85% increase over the last day, with Bitcoin having a market value of $1.123 trillion and a circulating supply of 18,678,481 BTCs
Bitcoin’s price is currently $60,638.55.
Bitcoin’s dominance is currently 55.36%, an increase of 0.21% over the day.
Investors are moving their funds to Bitcoin after an avalanche of COVID-19 stimulus shocked the crypto market since last year amid fears of rising fiat inflated currencies coupled with leading business brands adding more buying pressures on Bitcoin with BNY Mellon, America’s oldest bank giving its approval on the new digital gold as it makes a debut into mainstream investment assets.
Consequently, MicroStrategy now has 91,579 BTCs worth about $5.54 billion while Tesla holds 32,608 BTCs, hinting that more global business brands may take such route to hold the most popular crypto as a treasury tool amid concerns that just 21 million BTCs will ever exist with about 4 million BTCs already lost forever.
Recent price action suggests that bitcoin bulls are holding on tight as they built strong support around the $58K area.
— Yann & Jan (@Negentropic_) April 8, 2021
That being said, crypto pundits argue that bitcoin still faces strong headwinds in the coming months amid growing regulatory concerns. There is also the bias that its high volatility is making it challenging for some traditional investors to come on board and its massive electrical consumption via the blockchain has also put it at odds with many environmentalists.
Nairametrics | Company Earnings
Access our Live Feed portal for the latest company earnings as they drop.
- Cornerstone Insurance Plc notifies stakeholders of late submission of financial statements.
- NSE approves delisting of 11 Plc shares.
- Berger Paints Nigeria Plc reports a 67% decline in Profits in FY 2020.
- MTN Nigeria raises N73.5 billion from CP Issuance to finance operations.
- Jaiz Bank proposes dividend worth N884 million for shareholders.