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Markets

Africa Prudential tops losers list following mark down

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NSE, Gainers and Losers, Nigerian Stock exchange

This week was a negative one, as the Nigerian Stock Exchange, All Share Index closed down 2.45%. The index opened at 31,924.51 basis points and closed at 31,142.72 basis points. Year to date, the index is down 0.92%. 

18 equities appreciated in price during the week, lower than 24 in the previous week. 45 equities depreciated in price, higher than 37 equities of the previous week, while 105 equities remained unchanged lower than 107 equities recorded in the preceding week. 

Top Gainers 

Chemical and Allied Products Plc  

Chemical and Allied Products Plc was the best performing stock this week. The stock opened at N34 and closed at N37.40, up N3.40 or 10%. Year to date, the index is up 7.32%. 

McNichols Plc 

McNichols Plc appreciated by 9.62% this week. The stock opened at N0.52 and closed at N0.57, up N0.05. Year to date, the stock is up 21.28%. 

Royal Exchange Plc 

Royal Exchange Plc opened the week at N0.32 and closed at N0.25, up N0.03 or 9.37%. Year to date, the stock is up 59.09%. 

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Cadbury Nigeria Plc  

Cadbury Nigeria Plc gained 9.09% this week. The stock opened at N11.00 and closed at N12.00, up N1.00. Year to date, the stock is up 20%. 

UPDC

UACN Property Development Company (UPDC) opened the week at N1.82 and closed at N1.95, up N0.13 or 7.14%. Year to date, the stock is up 2.09% 

Neimeth International Pharmaceuticals 

Neimeth International Pharmaceuticals appreciated by 4.69% this week. The stock opened at N0.64 and closed at N0.67, up N0.03. Year to date, the stock is down 14.1%

Mutual Benefits Assurance Plc  

Mutual Benefits Assurance Plc opened the week at N0.23 and closed at N0.24, up N0.01 or 4.35%. Year to date, the stock is up 4.29%. 

NEM Insurance Plc 

NEM Insurance appreciated by 4.17% this week. The stock opened at N2.40 and closed at N2.50, up N0.10. Year to date, the stock is down 7.41%. 

Consolidated Hallmark Insurance 

Consolidated Hallmark Insurance opened the week at N0.28 and closed at N0.29, up N0.01 or 3.57%. Year to date, the stock is down 23.68%. 

NASCON Allied Insurance Plc  

NASCON Allied Insurance Plc rounds up the top 10 gainers for the week. The stock opened at N20 and closed at N20.70, up N0.70 or 3.50%. Year to date, the stock is  

 

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Losers 

Africa Prudential Plc  

Africa Prudential Plc was the worst performing stock this week. The stock declined by 20.83% opening at N4.80 and closing at N3.80, down N1.00. Year to date, the stock is down 1.81%. 

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The stock was this week marked down by N0.50 following the declaration of a dividend. Ex-dividend price was N4.05.

FCMB Group Plc 

FCMB opened at N2.12 and closed at N1.85, down N0.27 or 12.74%. Year to date, the stock is down 2.12%. 

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Zenith Bank Plc 

Zenith Bank shed 11.82% this week. The stock opened at N24.95 and closed at N22, down N2.95 or 11.82%. Year to date, the stock is down 4.56%. 

The stock was this week marked down by N2.50 following the declaration of a dividend. Ex-dividend price was N22.45.

International Breweries Plc 

International Breweries opened the week at N27 and closed at N24.05, down N2.95% or 10.93%. Year to date, the stock is down 21.15%. 

Wema Bank Plc 

Wema Bank declined by 10.47% this week. The stock opened at N0.86 and closed at N0.77, down N0.09. Year to date, the stock is up 22.22%. 

Unity Bank Plc 

Unity Bank opened the week at N0.90 and closed at N0.81, down N0.09 or 10%. Year to date, the stock is down 24.3%. 

Jaiz Bank Plc 

Jaiz Bank also declined by 10%. The stock opened at N0.60 and closed at N0.54, down N0.06. Year to date, the stock is up 8%. 

Learn Africa Plc 

Learn Africa opened at N1.45 and closed at N1.31, down N0.14 or 9.66%. Year to date, the stock is down 3.68%

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Transcorp Hotels Plc  

Transcorp Hotels Plc shed 9.24% this week. The stock opened at N5.95 and closed at N5.40, down N0.55. Year to date, the stock is down 5.30%. 

United Capital Plc

United Capital declined by 8.7% this week. The stock opened at N3.07 and closed at N2.80.Year to date, the stock is down 0.71%. 

The stock was this week marked down by N0.30 following the declaration of a dividend. Ex-dividend price was N3.02.  

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

United Capital Plc CEO purchases additional 1.3 million shares worth N7.19 million

United Capital Plc CEO has purchased an additional 1.3 million units of the firm’s shares worth N7.19 million.

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Commercial paper, United Capital Asset Management explains mutual funds’ positive performance

The CEO of United Capital Plc, Mr. Peter Ashade has purchased an additional 1.3 million units of the firm’s shares worth N7.19 million, maintaining a 3-monthly buying streak.

This is according to a recent disclosure signed by the firm’s secretary, Leo Okafor, and sent to the Nigerian Stock Exchange market today, as seen by Nairametrics.

The recent deal which took place on the 22nd of January, 2021 saw the United Capital boss purchase an additional 1,330,613 units of the firm’s share at N5.40 per share, totaling N7, 185,310.2.

Nairametrics learned that the recent deal raises the total number of shares purchased by the CEO in the last three months by an additional 6,000,000 units.

What you should know

  • Mr. Ashade earlier purchased additional 1.5million units of United Capital Plc shares, worth N8.03 million, as reported by Nairametrics.
  • Nairametrics also reported the purchase of one million units of the United Capital Plc shares by its CEO.
  • As of the time of reporting this, United Capital Plc share price currently trades at N5.40, down by 0.92%.
  • The firm has a current market capitalization of N32.4 billion and 6million outstanding shares.
  • The recent deal might be an indicator of strong investors’ confidence in the potentials of the firm.

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Spotlight Stories

Airtel, WAPCO, MRS rally up, investors gain N46 billion

The All Share Index gained 0.21% to close at 41,088.96 index points. Year to date return and market capitalization settled at 2.03%, and N21.49 trillion respectively

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Nigerian banking stocks remain most liquid stocks, as investors gain N25.1 billion, DANGOTE CEMENT, OKOMUOIL and GUINNESS drag Nigerian Stock market down,  SEPLAT, GUINNESS, Breaks Nigerian Bourse Support Levels, Investors Lose N49 Billion  

Nigerian Stocks ended the first trading session on a bullish note.

The All Share Index gained 0.21% to close at 41,088.96 index points. Year-to-date return and market capitalization settled at 2.03%, and N21.49 trillion respectively. Investors gain N45.49 billion.

  • A total volume of 333 million units of shares, valued at N2.64billion exchanged hands in 5,640 deals. TRANSCORP (-5.26%) finished the most traded shares by volume at 48.9million, while ZENITHBANK (0.00%) topped by value at N418 million.
  • Market breadth was however inverse of the broad index with 30 losers against 19 gainers. MRS (+9.82%) led the gainer’s chart today, while CILEASING (-10.00%) was the top loser.
  • Performance across sectors was mixed; like Oil & Gas (-0.80%), Consumer Goods (-0.72%) and Insurance (-0.58%) closed in red, while the Industrial and Banking indexes improved by +0.54 and 0.49% respectively.

Top gainers

  1. MRS up 9.82%  to close at N12.3
  2. JBERGER up 3.17% to close at N19.5
  3. WAPCO up 1.92% to close at N26.5
  4. DANGCEM up 0.85% to close at N236
  5. AIRTELAFRI up 0.38% to close at N855

Top losers

  1. CILEASING down 10.00% to close at N5.13
  2. ARDOVA down 9.78% to close at N18.45
  3. INTBREW down 6.53% to close at N6.16
  4. NASCON down 5.81% to close at N16.2
  5. UNILEVER down 2.22% to close at N13.2

Outlook

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Nigerian Bourse recorded an impressive winning streak this week as some NSE30 stocks including, AIRTELAFRI, DANGCEM, WAPCO triggered the upward run on Monday’s trading session.

  • The Nigerian Stock market advance to close in positive territory as buying interest was seen on stocks across the board.
  • Nairametrics however, envisages cautious buying, amid improved market conditions in Nigeria’s financial market.

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Debt Securities

UPDC moves to redeem N4.355 billion bonds

UPDC is set to redeem its N4,355 billion Series 1 Bonds on the 26th of April, 2021.

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UACN Property Development Company Plc (UPDC) is set to redeem its N4,355 billion Series 1 Bonds on the 26th of April, 2021.

This information was contained in a notice tagged “Notice to the Bondholders of UACN Property Development Plc”, issued by the Company Secretary, Folake Kalaro.

According to the information contained in the notice, UPDC, under Condition 3.2 of the Terms and Conditions of the Bonds, will redeem the N4,355,000,000 Series 1 Bonds on the 26th of April, 2021 from the bondholders, together with the accrued Coupon (the annual interest rate paid on the bond) up to, but excluding the Redemption Date.

The company revealed that the Coupon on the Bonds will cease to accrue on and after the Redemption Date.

What you should know

  • On the Bond’s Redemption Date, it is important to note that the Registrar of the Bonds, Africa Prudential Plc, shall pay to each Bondholder’s designated account, the amount payable to him/her in respect of the Redemption.
  • The Redemption payment to the Bondholders shall be equal to 100% of the principal amount together with all accrued and unpaid Coupon. Following the Redemption, the listing of the Bonds on the FMDQ Securities Exchange Limited will be canceled.
  • It is essential to understand that the N4.355 billion Series 1 Senior Guaranteed Fixed Rate Bond Due 2023 under UPDC’s N20 billion Bond Issuance Programme, was listed in 2018 following the approval of the SEC.
  • The move to issue the N4.355 billion bonds was made following an unsuccessful attempt to raise N5.16 billion via a rights issue, which recorded subscription for 879.65 million ordinary shares valued at N2.64 billion.

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