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Markets

Custodian Investments opens 2019 strongly

Last week was a bearish one on the Nigerian Stock Exchange, as the All Share Index closed at 30,638.90 basis points, down 1.28%

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NSE John Holt

Last week was a bearish one on the Nigerian Stock Exchange as the All Share Index closed at 30,638.90 basis points, down 1.28%. Year to date, the index is down 2.52%.

22 equities appreciated in price during the week, lower than 52 in the previous week. 45 equities depreciated in price, higher than 18 of the previous week, while 97 equities remained unchanged, higher than 94 equities recorded in the previous  week.

Gainers

Custodian Investment Plc

Custodian Investment was the best performing stock last week. The stock gained 16.19% opening at N5.25 and closing at N6.10, up N0.85. Year to date, the stock is up 7.96%.

Julius Berger Plc 

Julius Berger Plc opened the week at N20.10 and closed at N23.25, up N3.15 or 15.67%. Year to date, the stock is up 15.67%.

Vitafoam Nigeria Plc

Vitafoam Nigeria Plc gained 12.50% last week. The stock opened at N4 and closed at N4.50, up N0.50. Year to date, the stock is up 2.27%.

Niger Insurance Plc 

Niger Insurance opened the week at N0.22 and closed at N0.24, up N0.02 or 9.09%. Year to date, the stock is flat.

Linkage Assurance Plc 

Linkage Assurance also gained 9.09%, but had a larger numerical gain. The stock opened at N0.66 and closed at N0.72, up N0.06.  Year to date, the stock is flat.

Newrest ASL Nigeria Plc  

Newrest ASL Nigeria opened at N7.25 and closed at N7.90, up N0.65 or 8.97%. Year to date, the stock is flat.

Seplat Petroleum Development Company Plc 

Seplat Petroleum gained 8.02%. The stock opened at N592.50 and closed at N640, up N47.50. Year to date, the stock is flat.

TransNationwide Express Plc

Trans-Nationwide Express opened at N0.65 and closed at N0.70, up N0.05 or 7.69%. Year to date, the stock is also up by the same margin.

PZ Cussons Nigeria Plc

PZ Cussons Nigeria Plc appreciated by 7.42% last week. The stock opened at N11.45 and closed at N12.30, up N0.85. Year to date, the stock is up 1.65%.

Union Bank of Nigeria Plc 

Union Bank of Nigeria Plc rounds up the top 10 gainers for last week. The stock opened at N5.60 and closed at N6.00, up N0.40 or 7.14%. Year to date, the stock is up by the same margin.

Losers

FCMB Group Plc 

FCMB Group Plc was the worst performing stock last week, shedding 15.46%. The stock opened at N1.94 and closed at N1.64, down N0.30. Year to date, the stock is down 14.29%.

GlaxoSmithKline Plc 

GlaxoSmithKline Plc declined by 15.86% last week. The stock opened at N14.50 and closed at N12.20, up N2.30. Year to date, the stock is down by the same margin.

Access Bank Plc 

Access Bank Plc opened the week at N6.80 and closed at N5.80, down N1 or 14.71%. Year to date, the stock is also down by the same percentage.

Jaiz bank

Stanbic IBTC Holdings Plc 

Stanbic IBTC  Holdings Plc shed 12.68%. The stock opened at N53.25 and closed at N46.50, down N6.75. Year to date, the stock is down 3.02%.

Dangote Flour Plc 

Dangote Flour Plc opened the week at N6.85 and closed at N6.00, down N0.85 or 12.41%. Year to date, the stock is down by the same margin.

Transnational Corporation of Nigeria Plc 

Transcorp Plc opened at N1.31 and closed at N1.16, down N0.15 or 11.45%.  Year to date, the stock is down 12.12%.

BOC Gases Plc 

BOC Gases Plc shed 9.98% last week. The stock opened at N4.21 and closed at N3.79, down N0.42. Year to date, the stock is down by the same margin.

CAP Plc 

Chemical and Allied Products Plc dropped 9.61% last week. The stock opened at N34.85 and closed at N31.50, down N3.35. Year to date, the stock is also down by the same margin.

Lafarge Africa Plc 

Lafarge Africa opened at N12.50 and closed at N11.30, down N1.20 or 9.60%. The stock is currently trading at a fresh 5-year low, after hitting a low of N11.50 on Thursday. Year to date, the stock is down 9.24%.

Diamond Bank Plc 

Diamond Bank Plc rounds up the top 10 losers for the week, after topping the gainers chart for several weeks. The stock opened at N1.99 and closed at N1.80, down N0.19 or 9.55%. Year to date, the stock is down 17.43%.

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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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Markets

Union Bank, LINKASSURE push NGX ASI into recovery

The market breadth closed positive with the bulls as LINKASSURE led 25 Gainers, and 16 Losers topped by NEM.

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Nigerian stock exchange market made a bullish recovery on the last day of the week’s trading session. This surge was bolstered by gains made by UBN and LINKASSURE amongst others. The All-Share Index increased by +0.21% to close at 39,198.75 from 39,114.73.

  • Nigerian Stock Exchange market value currently stands at N20.48 trillion. Its Year-to-Date (YTD) returns currently stand at -2.66%.
  • The market breadth closed positive with the bulls as LINKASSURE led 25 Gainers, and 16 Losers topped by NEM, showing a hint of consolation.

Top gainers

  1. LINKASSURE up +9.25% to close at N0.69
  2. JOHNHOLT up +9.26% to close at N59
  3. UBN up +9.09% to close at N5.40
  4. ROYALEX up +8.33% to close at N0.65
  5. CHIPLC up +8.33% to close at N0.39

Top losers

  1. NEM down -9.50% to close at N1.81
  2. COURTVILLE down -9.09% to close at N0.20
  3. SUNUASSUR down -8.47% to close at N0.54
  4. INITSPLC down -6.98% to close at N0.40
  5. ETERNA down -6.89% to close at N5.81

Outlook

The market recovered from a week-long loss as it posts profit at the end of the trading session.

  • Market sentiments tend toward bullish momentum as the NGX ASI closes with 25 Gainers and 16 losers.
  • Nairametrics however, advises cautious buying in this era of growing uncertainties.

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Markets

SEC plans to monitor foreign stock brokers in Nigeria

SEC is proposing tighter and stricter regulatory oversight and requirements for foreign stockbrokers in the country.

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Nigerian Stocks snap 7-year losing streak to post first gain in August

In an attempt to reduce the demand for foreign stocks in Nigeria, the Securities and Exchange Commission (SEC) is proposing tighter and stricter regulatory oversight and requirements for foreign stockbrokers in the country.

In an interview monitored by Nairametrics, the executive commissioner for operations of the SEC, Dayo Obisan revealed the commission was planning to actively monitor the local facilitators of foreign stocks.

“At least 400,000 Nigerians have invested in foreign stocks through brokers in the past 18 months,” Obisan said, with Nigerians actively trading or holding foreign equities now exceeding those investing in the local market and about 70% of these participants being less than 40 years of age.

This is despite the Nigerian Stock Exchange being dubbed the best performing last year after it gained 50% YTD. Stocks are however down 5% YTD.

In contrast, the S&P 500 Index is currently trading 14.50% YTD, creating a new all-time high.

Also, the value of transactions is down YTD as demand shifts from the Nigerian stock exchange market to the Cryptocurrency and foreign stock market.

“There is an increasing interest among the younger population and this is of concern to the commission primarily because it creates an avenue for exploitation,” Obisan said.

The SEC intends to license firms offering foreign stocks under a “digital sub-broker” regulation, which Obisan says should provide a form of clarity to their activities.

He also stated the requirement will ensure “regulatory responsibilities in on-boarding clients, custody of assets, and compliance with reporting requirements are met”.

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