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Markets

Champion Breweries falls below 10 year low this week

Thomas Wyatt Plc led the gainers this week on the Nigerian Stock Exchange (NSE) appreciating by 24%.

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NSE, Gainers and Losers, Nigerian Stock exchange

The Nigerian Stock Exchange closed this week’s trading session in the green, as the All Share Index closed at 28,871.93 basis points, up 0.08%. Year to date, the index is down 8.14%.

16 equities appreciated in price during the week, lower than 18 in the previous week. 42 equities depreciated in price, lower than 49 equities of the previous week. 109 equities remained unchanged, higher than 101 equities recorded in the preceding week.

Gainers

Thomas Wyatt Plc

Thomas Wyatt Plc makes a surprise appearance in the top gainers for the week. The stock opened at N0.25 and closed at N0.31, up N0.06 or 24%. Year to date, the stock is up 34.78%.

Neimeth International Pharmaceuticals Plc

Neimeth International Pharmaceuticals Plc appreciated by 22% this week. The stock opened at N0.50 and closed at N0.61, up N0.11. Year to date, the stock is down 21.79%.

AG Leventis Plc

AG Leventis Plc opened the week’s trading at N0.24 and closed at N0.28, up N0.04 or 16.67%. Year to date, the stock is up 3.70%.

Transcorp Plc

Transcorp Plc gained 9.73% this week. The stock opened at N1.11 and closed at N1.24, up N0.13. Year to date, the stock is down 6.06%.

NPF Microfinance Bank Plc

NPF Microfinance Bank Plc opened the week at N1.35 and closed at N1.47, up N0.12 or 8.89%. Year to date, the stock is down 10.91%.

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Okomu Oil Palm Company Plc

Okomu Oil appreciated by 5.71% this week. The stock opened the week at N70 and closed at N74, up N0.04. Year to date, the stock is up 2.89%.

The stock was marked down by N3 this week and ex dividend price was N74.

UACN Plc

UAC of Nigeria Plc opened the week at N6.95 and closed at N7.30, up N0.35 or 5.04%. Year to date, the stock is down 25.13%.

Veritas Kaptal Assurance Plc

Veritas Kapital Assurance gained 5% this week. The stock opened at N0.20 and closed at N0.21, up N0.01. The stock is down 8.70%, year to date.

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Mutual Benefits Assurance Plc

Mutual Benefits Assurance Plc opened at N0.21 and closed at N0.22, up N0.01 or 4.76%. The stock is up by the same margin, year to date.

Unilever Nigeria Plc

Unilever Nigeria Plc rounds up the top 10 gainers for the week. The stock opened at N31 and closed at N32, up N1 or 3.23%.

Year to date, the stock is down 13.51%.

Losers

Regency Alliance Insurance Plc

Regency Assurance Insurance Plc was the worst performing stock this week, declining by 20%. The stock opened at N0.25 and closed at N0.20, down N0.05. Year to date, the stock is down 5.76%.

The stock was marked down by N0.03 this week and ex dividend price was N0.22.

Forte Oil Plc

Forte Oil Plc opened the week at N34.95 and closed at N28, down N6.60,or 18.88%. Year to date, the stock is down 1.22%.

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Champion Breweries Plc

Champion Breweries Plc declined by 18.18%. The stock opened at N1.43, and closed at N1.17, down N0.26. Year to date, the stock is down 41.21%, and is trading below a 10 year price point.

FCMB Plc

FCMB Plc opened the week at N1.80 and closed at N1.55, down N0.25 or 13.89%. Year to date, the stock is down 17.99%.

Wema Bank Plc

Wema Bank Plc also fell by 13.89% this week. The stock opened the week at N0.72 and closed at N0.62, down N0.10. Year to date, the stock is down 1.59%.

Goldlink Insurance Plc

Goldlink Insurance Plc opened the week at N0.23 and closed at N0.20, down N0.03 or 13.04% Year to date, the stock is down 62.26%.

NEM Insurance Plc

NEM Insurance Plc shed 12.03% this week. The stock opened the week at N2.50 and closed at N2.20, down N0.30. Year to date, the stock is down 18.52%.

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University Press Plc

University Press Plc opened at N1.85 and closed at N1.67, down N0.18 or 9.73%. Year to date, the stock is down 23.39%.

Access Bank Plc

Access Bank Plc declined by 9.15% this week. The stock opened at N7.10 and closed at N6.45, down N0.75. Year to date, the stock is down 5.15%.

Cement Company of Northern Nigeria Plc

Cement Company of Northern Nigeria Plc rounds up the top ten losers for the week. The stock also shed 9.15%, opening at N15.30 and closing at N13.90, down N1.40. Year to date, the stock is down 28.35%, and is at a year low.

Postscript

While MTN Nigeria gained 20% this week, it did not make the cut because it has traded for just two days. 

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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Currencies

Naira appreciates at NAFEX as Nigeria’s external reserve is set to get a boost

Naira gained against the US Dollar at the NAFEX window on Friday to close at N409/$1.

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Naira falls across forex markets as businesses resume after public holidays

Friday, 9th April 2021: The exchange rate between Naira and the US Dollar closed at N409/1$ in the Importers and Exporters window, where forex is traded officially.

Naira gained against the US Dollar at the NAFEX window on Friday to close at N409/$1. This represents a 0.16% gain when compared to N409.65/$1 recorded on Thursday, as the country’s external reserve is set to receive a boost with the planned issuance of $500 million Eurobonds.

Meanwhile, the naira maintained stability at the parallel market on Friday, 9th April, 2021 to close at N485 to a dollar, the same rate as maintained since last week.

Trading at the official NAFEX window

Naira appreciated against the US Dollar at the Investors and Exporters window on Friday to close at N409 to a dollar. This represents a 65 kobo gain when compared to N409.65/$1 recorded on Thursday, 8th April 2021.

  • The opening indicative rate closed at N409.79 to a dollar on Friday. This represents a 71 kobo gain when compared to N410.50/$1 recorded on Thursday.
  • Also, an exchange rate of N420 to a dollar was the highest rate recorded during intra-day trading before it closed at N409/$1. It also sold for as low as N395/$1 during intra-day trading.
  • Forex turnover at the Investor and Exporters (I&E) window dropped by 41.1% on Friday, 9th April 2021.
  • A cursory look at the data tracked by Nairametrics from FMDQ showed that forex turnover declined from $93.69 million recorded on Thursday, April 8, 2021, to $55.21 million on Friday, April 9, 2021.

Cryptocurrency watch

The world’s most popular digital currency, bitcoin recorded a 3.05% increase in value on Saturday evening, 10th April 2021.

  • Bitcoin went up by 3.05% to trade at $59,907 on Saturday evening, compared to $58,135 recorded at the close of trade on Friday.
  • This is coming after it had risen to $61,222.22 on Saturday, its highest in nearly a month, propelled by talks of constrained new supplies against evidence of wider adoption.
  • Bitcoin (BTC) is up 116% from the year’s low of $27,734 on January 4. It crossed the $60,000 mark for the first time on March 13, hitting a record $61,781.83 on Bitstamp exchange, just after U.S. President Joe Biden signed his $1.9 trillion fiscal stimulus package into law.
  • The digital currency has been widely adopted by many, replacing gold as the global digital-reserve asset.

Oil price gain

Brent crude oil price declined on Sunday evening as it closed at $63.02 per barrel, indicating a 0.28% drop compared to $63.2 recorded at the close of trade on Friday.

  • This is as the fall in oil prices especially towards the end of last week can be attributed to demand concerns and Covid-19 lockdowns in some major economies, due to a spike in infections.
  • The Russian government has said that the coronavirus pandemic could continue to impact on global oil demand until 2024.
  • Crude oil prices had recorded a marginal increase during the week despite the decision of the OPEC+ to ease production cuts in the coming months. However, US Shale Giant has commended the OPEC+ group for bringing supply and demand back to balance.
  • Brent Crude closed at $63.02 (+0.11%), WTI Crude closed at $59.39 indicating 0.12% gain, Bonny Light, $61.55 (+0.46%), OPEC Basket (+0.89%) to close at $61.22 while Natural gas gained 0.67% to close at $2.543.

External reserve

Nigeria’s external reserve gained $29 million on Thursday, 8th April 2021 to close at $35.006 billion, being the highest external reserve position recorded in over a month.

  • This indicates a 0.08% increase when compared to $34.977 billion recorded on Wednesday, 7th April 2021.
  • It also represents an increase in the country’s external reserve position for the 13th consecutive day, having endured a significant downturn earlier in the year. Nigeria’s reserve has added a total of about $590 million in 13 days.
  • This recent increase in Nigeria’s external reserve could however be attributed to the increase in crude oil prices recorded earlier in March before the recent bearish trade in the crude market.
  • It could be attributed to the possible increase in diaspora remittance as the CBN offers incentives for every unit of a dollar received in Nigeria from diaspora remittance.
  • The external reserve is likely to get further boost as the Federal Government recently announced plans to issue $500 million Eurobonds for 2021.

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Cryptocurrency

Unknown Bitcoin whale moves $714 million, Bitcoin stays above $60,000 mark

The flagship crypto traded at $60,514.60 on the FTX exchange with a daily trading volume of $45.5 billion.

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$700 million worth of Bitcoin moved by an unknown identity

Bitcoin whales are moving the vastly used treasury crypto in large amounts amid price volatility and bullish rush, as Bitcoin bulls regain control above the $60, 000 mark.

Data retrieved from BtcBlockBot an advanced crypto blockchain tracking and analytics firm, an anonymous cryptocurrency user revealed someone (possibly http://coinbase.com) moved 11,901 BTC $714 million in block 678,688.

Whale alert! 🐋 Someone (possibly http://coinbase.com) moved 11,901 BTC $714 million in block 678,688

The tracker further disclosed that the whale may have come from the world’s pioneer crypto exchange, Coinbase.

Nairametrics’ research has recently seen the surge in unknown crypto transactions involving Bitcoin, Ethereum, and other top crypto assets at levels not previously seen in the cryptoverse suggesting that more institutional players are getting into the game.

At the time of writing, the flagship crypto traded at $60,514.60 on the FTX exchange with a daily trading volume of $45.5 billion. Bitcoin is down 0.04% for the day.

During bull trends in the cryptoverse, these large entities can take profit on their positions, especially if the futures market is overcrowded.

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Wealthy investors reducing their crypto exposure to rebalance their portfolios can cause high price swings in the market, especially when accompanied by cascading liquidations.

However, recent data suggests otherwise as data retrieved from Glassnode points at entities holding more onto the world’s most popular crypto, rather than selling; as data shows Bitcoin balance on Crypto Exchanges just reached a 2-year low of 2,337,271.262 BTC.

A previous 2-year low of 2,338,724.621 BTC was observed on 08 April 2021.

 

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