The Nigerian Stock Exchange (NSE) fell sharply in this week’s trading session. The All Share Index opened the week at 31,041.42 basis points, and closed at 29,616.38 basis points, down 4.59%. The index is also below the 30,000 psychological floor.
14 equities appreciated in price during the week, lower than 21 in the previous week. 55 equities depreciated in price, higher than 36 equities of the previous week, while 98 equities remained unchanged, lower than one hundred and eleven (111) equities recorded in the preceding week.
Ikeja Hotels Plc
Ikeja Hotels Plc was the best performing stock on the NSE this week. The stock gained 20.21%, opening at N1.88 and closing at N2.26, up N0.38. Year to date, the stock is up 47.71%.
CHAMS opened the week at N0.20 and closed at N0.24, up N0.04 or 20%. Year to date, the stock is up by the same margin.
The stock has been on a rebound since the firm declared a dividend of N0.03 per share.
Sovereign Trust Insurance Plc
Sovereign Trust Insurance appreciated by 15% this week. The stock opened at N0.20 and closed at N0.23, up N0.03. Year to date, the stock is up 9.52%.
First Aluminum Plc
First Aluminum Plc opened the week at N0.30 and closed at N0.33, up N0.03 or 10%. Year to date, the stock is down 8.33%.
The company this week announced that it had been unable to file its audited 2018 results on the due date of March 31st 2019, as the audit process was yet to be completed. It however expects to do so on or before the April 30th, 2019.
Berger Paints Plc
Berger Paints gained 9.70% this week. The stock opened at N8.25 and closed at N9.05, up N0.80. Year to date, the stock is up 5.23%.
Thomas Wyatt Plc
Thomas Wyatt Plc opened the week at N0.20 and closed at N0.23, up N0.03, or 8.70%. Year to date, the stock is up by the same margin.
Sterling Bank Plc
Tier two lender Sterling Bank Plc gained 8.33% this week. The stock opened at N2.40 and closed at N2.60, up N0.20. Year to date, the stock is up 36.84%.
Union Bank Plc
Union Bank Plc gained 5.26% this week. The stock opened at N6.65 and closed at N7, up N0.35. Year to date, the stock is up 25%.
Cadbury Nigeria Plc
Cadbury Nigeria Plc gained 5% this week. The stock opened at N10 and closed at N10.50, up N0.50. Year to date, the stock is up 5%.
NEM Insurance Plc
NEM Insurance Plc rounds up the top 10 gainers for this week. The stock opened at N2.22 and closed at N2.33, up N0.11 or 4.95%. Year to date, the stock is down 13.70%.
Eterna Plc was the worst performing stock this week. The stock shed 24.53%, opening at N5.30 and closing at N4.00. Year to date, the stock is down 14.89%.
Union Diagnostic and Clinical Services Plc
Union Diagnostic and Clinical Services Plc opened the week at N0.30 and closed at N0.23, down N0.07 or 23.33%. Year to date, the stock is down 8%.
UBA Plc declined by 19.48% this week. The stock opened at N7.70 and closed at N6.20, down N1.50. Year to date, the stock is down by the same margin.
Beta Glass Plc
Beta Glass opened at N71.95 and closed at N58.35, down N13.60 or 18.90%. Year to date, the stock is down 14.57%.
Neimeth International Pharmaceuticals
Neimeth International Pharmaceuticals opened at N0.62 and closed at N0.51, down N0.11 or 17.74%. Year to date, the stock is down 34.62% and is trading at a year low.
Dangote Flour Mills Plc
Dangote Flour Mills declined by 16.18% this week. The stock opened at N10.20 and closed at N8.55, down N1.65. Year to date, the stock is up 24.82%.
Livestock Feeds dropped by 15.87%. The stock opened at N0.63 and closed at N0.53, down N0.10. Year to date, the stock is up 8.16%.
Cement Company of Northern Nigeria shed 14.57% this week. The stock opened at N19.90 and closed at N17, down N2.90. Year to date, the stock is down 12.37%.
Oando Plc opened the week at N5.65 and closed at N4.95, down N0.70 or 12.39%. Year to date, the stock is down 1%.
The company this week announced it had sold the 25% stake it had held in Axxela Limited (formerly known as Oando Gas and power) to Helios Investment Partners. Helios, in 2016 had bought a 75% stake in the firm.
Ecobank Trans International
Ecobank Trans international was the worst performing stock this week. The stock opened at N13.20 and closed at N11.60 down 12.12%. Year to date, the stock is down 17.14%.
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.