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Stock Market

A Champion leads the gainers for the week

NPF Microfinance Bank Plc led the worst performing stocks for the week, ending June 28, 2019.

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NSE, Gainers and Losers, Nigerian Stock exchange

The last trading week in June was a positive oneas the Nigerian Stock Exchange All Share Index closed at 29,966.87 basis points, up 0.39%. On a month to month basis, June was a tough one for investors as the index was down 3.55%.  

Year to date, the index is down 4.66%. 

36 equities appreciated in price during the week, higher than 34 in the previous week. 32 equities depreciated in price, lower than 33 equities in the previous week, while 100 equities remained unchanged, lower than 101) equities recorded in the preceding week. 

Gainers 

Champion Breweries Plc  

Champion Breweries Plc was the best performing stock this week. The stock gained 19.01% opening at N1.42 and closing at N1.69, up N0.27 or 19.01%. Year to date, the stock is down 15.08%. 

Consolidated Hallmark Insurance Plc  

Consolidated Hallmark Insurance Plc opened the week at N0.22 and closed at N0.26, up N0.04 or 18.18%. Year to date, the stock is down 31.58%. 

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Mutual Benefits Assurance Plc  

Mutual Benefits Assurance Plc 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%. 

ABC Transport Plc  

ABC Transport Plc opened the week at N0.27 and closed at N0.30, up N0.03 or 11.11%.  

Year to date, the stock is up 3.52%. 

UACN Plc 

UACN Plc appreciated by 9.92% this week. The stock opened at N6 and closed at N6.65, up N0.65.  

Year to date, the stock is down 31.79%. 

BOC Gases Plc 

BOC Gases Plc gained 9.84% this week. The stock opened at N3.76 and closed at N4.13, up N0.37.  

Year to date, the stock is down 1.90%. 

International Breweries Plc  

International Breweries Plc opened the week at N16.70 and closed at N18.30, up N1.60 or 9.58%. 

 Year to date, the stock is down 40%. 

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Courteville Plc 

Courteville Plc appreciated by 9.52% this week. The stock opened at N0.21 and closed at N0.23, up N0.02.  

Year to date, the stock is up 15%. 

Ikeja Hotels Plc  

Ikeja Hotels Plc opened the week at N1.31 and closed at N1.43, up N0.12 or 9.16%.  

Year to date, the stock is up 6.54%. 

The company this week held a Facts Behind The Figures Session at the Nigerian Stock Exchange (NSE), where it unveiled its intentions to raise capital for the renovation of Sheraton Lagos.

The firm in a separate notice this week, indicated it would pay an interim dividend for the 2019 financial year.

GSK Consumer Nigeria 

GSK Consumer Nigeria rounds up the top 10 gainers for the week. The stock opened at N9.35 and closed at N10.20, up N0.85 or 9.09%. 

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Year to date, the stock is down 29.66%. 

Losers 

NPF Microfinance Bank 

NPF Microfinance Bank Plc was the worst performing stock this week. The stock opened at N1.30 and closed at N1.05, down N0.25 or 19.23%.  

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The company this week released its results for the financial year ended December 2018, and first quarter ended March 2019.

Year to date, the stock is down 36.36%. 

NEM Insurance Plc 

NEM Insurance Plc opened the week at N2.80 and closed at N2.27, down N0.53 or 18.93%.  

Year to date, the stock is down 15.93%. 

Forte Oil Plc  

Forte Oil Plc declined by 14.10% this week. The stock opened at N31.20 and closed at N26.80, down N4.40.  

Year to date, the stock is down 6.62%. 

Beta Glass Plc  

Beta Glass Plc opened the week at N73.70 and closed at N66.35, down N7.35 or 9.97%. 

Year to date, the stock is down 2.86%. 

Sterling Bank Plc  

Sterling Bank Plc shed 9.09% this week. The stock opened at N2.42 and closed at N2.02, down N0.40.  

Year to date, the stock is up 15.79%. 

Dangote Sugar Refinery Plc  

Dangote Sugar Refinery Plc opened the week at N12.40 and closed at N11.35, down N1.05 or 8.47%. Year to date, the stock is down 25.57%. 

Unity Bank Plc  

Unity Bank Plc declined by 8.45% this week. The stock opened at N0.71 and closed at N0.65, down N0.06.  

Year to date, the stock is down 39.25%. 

Prestige Assurance Plc  

Prestige Assurance opened the week at N0.54 and closed the week at N0.50, down N0.04 or 7.41%.  Year to date, the stock is flat. 

The company this week released its Annual General Meeting (AGM) notice. Included in the agendais a motion to raise capital.

Chams Plc  

Chams Plc declined by 6.45% this week. The stock opened at N0.31 and closed at N0.29, down N0.02. Year to date, the stock is up 45%. 

FBN Holdings Plc  

FBN Holdings Plc rounds up the top ten losers for the week. The stock opened at N7 and closed at N6.55, down N0.45 or 6.43%.  

Year to date, the stock is down 17.61% and is trading at its lowest price so far this year.  

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

MTN Nigeria records gain, investors profit up by N42 billion

REDSTAREX led 9 Gainers as against 17 Losers topped by UBN at the end of today’s session.

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Global stocks sell-off persists as resurgence of COVID-19 frighten investors 

Nigerian bourse on Tuesday closed its trading session on an impressive note. The All Share Index gained by +0.31% to close at 25,574.35 points as against +0.01% appreciation recorded on Monday.

  • Its Year-to-Date (YTD) returns currently stands at -4.42%. Nigerian Stock Exchange capitalization presently stands at N13.408 trillion.
  • Investors gained N42.09 Billion.
  • Nigerian bourse trading turnover printed positive as Nigerian Stock Market trading moved and gained 33.61% as against +1.36% uptick recorded on Monday.
  • ZENITHBANK, FBNH, and TRANSCORP were the most active to boost market turnover.
    Market breadth ended negative as REDSTAREX led 9 Gainers as against 17 Losers topped by UBN at the end of today’s session – an unimproved performance when compared with the previous outlook.

Top gainers

  • REDSTAREX up 9.80% to close at N3.25
  • TRANSEXPR up 9.33% to close at N0.82
  • MTNN up 2.41% to close at N123
  • FBNH up 2.04% to close at N5
  • DANGSUGAR up 0.83% to close at N12.1

Top losers

  • UBN down 6.54% to close at N5
  • INTBREW down 2.94% to close at N3.3
  • UACN down 1.56% to close at N6.3
  • PRESCO down 0.80% to close at N49.5
  • DANGCEM down 0.22% to close at N134.7

Outlook

Nigerian bourse unsurprisingly ended higher amid rising oil prices and high buying pressures noticed in NSE30 stocks like Dangote Sugar, First Bank, and MTN Nigeria.

  • Market liquidity was notably higher as institutional investors increased their stakes on decent stock brands.
  • In spite of the sell-offs in global markets, and the dollar strengthening upward, as Local investors are taking advantage of undervalued stocks across the spectrum
  • Nairametrics, however, envisages caution in selecting stocks, as market indicators show high uncertainty in the coming days.

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Stock Market

Nigerian Stocks immune to high sell-offs recorded in Global Stock Market

UACN led 9 Gainers as against 16 Losers topped by CHAMPION at the end of today’s session.

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investors, Bulls gain momentum, as stimulus package lifts global financial markets, Bulls boost global financial market, gold hits 7 years high, Dangote, Tier-1 banks lead the bulls to close Nigerian stock market green

Nigerian stock started the first trading day of the week on a surprisingly bullish note amid record sell-offs in the global market. The All Share Index gained 0.01% to close at 25,574.35 points as against the +0.16% gain recorded on Friday.

  • Its Year-to-Date (YTD) returns currently stands at -4.72%. Nigerian Stock Exchange market capitalization presently stands at N13.365 trillion.
  • Nigerian bourse trading turnover printed higher as volume climbed up by 1.36% as against the 16.31% plunge recorded on Friday. FBNH, CHAMS, and UBA were the most active to boost market turnover.
  • Market breadth closed negative as UACN led 9 Gainers as against 16 Losers topped by CHAMPION at the end of today’s session – an unimproved performance when compared with the previous outlook.

Top gainers

  • UACN up 5.79% to close at N6.4
  • INTBREW up 3.03% to close at N3.4
  • PRESCO up 1.84% to close at N49.9
  • GUARANTY up 0.20% to close at N25.4
  • MTNN up 0.08% to close at N120.1

Top losers

  • CHAMPION down 10.00% to close at N0.81
  • REDSTAREX down 9.20% to close at N2.96
  • JBERGER down 3.23% to close at N15
  • ACCESS down 0.78% to close at N6.4
  • FLOURMILL down 0.76% to close at N19.65

Outlook

Nigerian bourse ended in a near stalemate amid selling pressures recorded in Brent crude futures at U.S trading session. Nigerian bourse, with the help of NSE30 stocks like MTN, GTBank also brought immunity against significant sell-offs recorded on the global stocks market on Monday.

  • At the time this report was drafted, the Dow Jones Industrial Average (DJI) was down 588.64 points, or 2.13%, at 27,068.78. The S&P 500 (SPX) was down 59.80 points, or 1.80%, at 3,259.67, and the Nasdaq Composite (IXIC) was down 142.45 points, or 1.32%, at 10,650.83
  • The CBOE Market Volatility Index (VIX), a measure of investor anxiety, shot up to its highest level in nearly two weeks.
  • Nairametrics envisages cautious buying as market indicators point to higher uncertainty in the coming days coupled with rising cases of COVID-19 infections at Nigeria’s most important international markets.

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Stock Market

S&P 500 futures suffer longest run of losses since February

Futures contracts on the S&P 500 Index plunged by 1.4% at the time this report.

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S&P 500 futures suffer longest run of losses since February, COVID-19 vaccine, Global stocks records astronomical gains in Q2 2020

U.S. Stock futures started the trading week on a bearish footing, signaling losses at the opening U.S trading session on Monday. U.S stocks were hit by growing concern about new restrictions triggered by rising COVID-19 cases.

What we know; Futures contracts on the S&P 500 Index plunged by 1.51% at the time this report was drafted, pointing to a fourth straight daily decline, the longest stretch of losses for the gauge since the end of February.

Contracts on the Dow Jones Industrial Average and Nasdaq 100 fell 1.85% and 1.5%, respectively.

Quick fact; American Stock futures are simply standardized contracts that global traders use in purchasing or selling the U.S stock in a future date. This means that the U.S stock futures give an insight into what global investors see before the market opens, or after it close

Stephen Innes, Chief Global Market Strategist at AxiCorp, in a note to Nairametrics spoke on the prevailing fundamentals, giving stock bears an edge. Stock futures opened uncertain as investors remain confused about which way to move this morning as lockdown fears take charge with the UK government sounding alarm bells as the Covid-19 curve moves in the wrong direction.

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After the initial economic bounce from full-blown lockdowns, both the UK and Europe’s economic trajectory could be entering a gloomy second phase characterized by ongoing social distancing, elevated unemployment, and increasing damage to the supply side.

(READ MORE: Nigerian Stocks on a 3-day losing streak, triggered by Dangote Sugar, Ecobank)

He also spoke on the parabolic nature of the world’s largest equity market, as the U.S election sets in, by saying;

“However, they remain weighed down by a drip-feed of negativity around Covid-19 resurgence, US fiscal impasse and as the market starts to factor in US election risk in earnest. Retail and hedge funds bought the initial Nasdaq dip after the September 2 carnage. But since then, there has been a noticeable shift in trading behavior where bounces are quickly faded.”

Political tensions also making global investors shaky as Democrats and Republicans prepare to fight over who will be the next Supreme Court justice.

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