Stock Market
Two insurance stocks to keep an eye on this week
@myaccessbank and @zenithbank retain their spots on the @nsenigeria watchlist as the market awaits their H1 2019 results.
Stocks to watch comprises the top gainers and losers from the previous week, as well as companies that are expected to have corporate actions. Stocks to watch is not a Buy/Sell/Hold list.
Access Bank and Zenith Bank
Access Bank and Zenith Bank have a joint first place in this week’s watchlist due to the impending release of their H1 2019 results. Investors would also be keen on the stocks, as they have a culture of paying interim dividends.
Tier one peer, Guaranty Trust Bank, released its H1 2019 results last Friday. The three banks tend to release their results in close proximity.
Guaranty Trust Bank
Guaranty Trust Bank takes the second spot this week, following the release of its H1 2019 results on Friday. An investor call should be in the works. For investors and analysts, this would be key as management would shed light on plans for the rest of the year, as well as the new CBN Policy.
BOC Gases
BOC gases takes the third spot in this week’s watchlist, as the company was the best performing stock last week and is trading at a 5-year high. The stock could either rally further or pull back, if short term investors decide to cash in their gains.
RAK Unity
RAK Unity was the worst performing stock last week, hence its place on this week’s watchlist. The stock, though thinly traded, could either rebound or decline further depending on the general performance of the market.
The company will also be holding its Annual General Meeting (AGM) this week.
Wapic Insurance Plc
Wapic Insurance Plc held an Extraordinary General Meeting (EGM) last week, and is yet to issue a statement on the resolutions arrived.
Like for other insurance firms, investors would be keen to know the company’s plans to meet the new capital requirements set by the National Insurance Commission (NAICOM).
International Breweries et al
International Breweries Plc, Cornerstone Insurance Plc, Deap Capital Management & Trust Plc, have a joint spot in this week’s watchlist, as they will be holding their AGMs this week.
International Breweries will hold its AGM on the 20th of August, Cornerstone Insurance on the 21st of August and Deap Capital on the 22rd of August. Rak Unity’s AGM will hold on the 23rd of August.
AGMs are opportunities for shareholders to get insights from management teams on their plans for the remaining part of the year.
The Nigerian bourse ended the trading week on a positive note leaving the All Share Index (ASI) Stock at 24,306.36 basis points, gaining 0.12%.
Accordingly, Month-to-Date and Year-to-Date losses stand at -0.68 per cent and -9.48% respectively, while market capitalization stood at N12.679 trillion after increasing by N14.76 billion.
Market sentiment, as measured by market breadth, was positive, as 12 stocks gained, relative to 9 decliners. IntBrew, Vitafoam and Glaxosmith led the gainers’ chart, while at the rear of the chart, ABC transport, UBA and GTBank led the chart.
Market upturn was paired with low trading activities compared to the performance recorded yesterday. Total volume and value of stocks traded declined by 29.47 per cent and 62.41 per cent to 131.63 million units and N899.4 million respectively.
STERLNBK was the most traded stock by volume at 17.6million units while ZENITHBANK finished the most traded stock by value at N220.4 million.
Sectoral performance was lukewarm, as one out of the five major sub-indices posted gains, with the Energy and Industrial index closing flat.
The Consumer Goods index (+0.56%) led the gainers, on INTERBREW (+6.94%) and GLAXOSMITH (+4.35%) gains. Losses in UBA (-2.34%), GUARANTY (-1.32%) and ZENITH (-0.30%) impelled losses in the lenders’ Index (-0.68%), followed by the Insurance index (-0.63%), following price decline in REGALINS (-8.33%) and AIICO (-4.26%).
Top gainers
INTBREW up 6.94% to close at N3.85, VITAFOAM up 5.13% to close at N5.33, GLAXOSMITH up 4.35% to close at N4.8,PZ up 3.45% to close at N4.5, MTNN up 0.96% to close at N116.1
Explore Economic Research Data From Nairametrics on Nairalytics
Top losers
ABCTRANS down 8.93% to close at N0.51, UBA down 2.34% to close at N6.25, GUARANTY down 1.32% to close at N22.45, FBNH down 0.95% to close at N5.2, ZENITHBANK down 0.30% to close at N16.7
Outlook
Nigerian bourse finished on a positive note, with blue-chip stocks like MTN, triggering the rally experienced at the end of the trading week. However, Nairametrics envisages cautious buying on the resurgence of COVID-19 cases reported in Nigeria.
Stock Market
Stocks close flat despite buying pressures from ECOBANK, GTBANK
GUARANTY finished the most traded stock by value at N534.4 million.
Nigerian bourse on Thursday closed near flat as the All Share Index dropped slightly by 0.01% to 24,276.56 index points. Consequently, YTD performance presently stands at -9.46%.
Activity level reversed its previous increase as total volumes and values exchanged declined by 19.76% and 49.05% to 186.64 million units and 2.393 billion respectively. Fidelity Bank was the most traded stock by volume at 38.0 million units while GUARANTY finished the most traded stock by value at N534.4 million.
Market sentiment, as measured by market breadth, was negative as 15 stocks declined, relative to 10 advancers with CONOIL and ARBICO as top losers by 10.00% and 9.52% respectively, while STERLNBANK and PZ recorded largest price gains with 5.83% and 3.57% respectively.
READ ALSO: Top banks’ stocks plunge, as bears overwhelms Nigerian tier-2 banks’ rally
Across sectors, three of the five indexes under our coverage gained. Price appreciation in LAW UNION and AIICO INSURANCE moved the Insurance index up by 0.64%, while the Banking and industrial followed to gain 0.60% and 0.02% respectively.
Conversely, the Consumer Goods and Oil & Gas indexes were down 0.64% and 0.45% respectively, on the back of sell-offs in INTBREW, DANGSUGAR and CONOIL.
Top gainers
LAWUNION up 7.00% to close at N1.07,PZ up 3.57% to close at N4.35,ETI up 3.26% to close at N4.75,GUARANTY up 1.11% to close at N22.75ZENITHBANK up 0.60% to close at N16.75,
READ MORE: Nestle hits N1,000 for first time since March Covid-19 lock-down
Top Losers
CONOIL down 10.00% to close at N18.9, ARBICO down 9.52% to close at N1.71, VITAFOAM down 9.30% to close at N5.07, INTBREW down 8.86% to close at N3.6, DANGSUGAR down 0.86% to close at N11.5
Outlook
Nigerian bourse finished on a near stalemate, as buying pressure from top tier-1 banks countered the high sell-offs recorded in CONOIL, VITAFOAM & INTBREW.
However, Nairmetrics envisages you seek the advice of a certified financial advisor when buying financial assets.
Stock Market
Bulls from GTBank, Zenith lifts Nigerian Bourse, Investors gain N94.2 billion
Nigerian bourse finished trading on a positive note with renewed buying interest.
The Nigerian Stock Exchange finished Wednesday’s trading session on a bullish note, with investors gaining N94.2 billion.
Investors’ interest in Wapco, Guaranty Trust Bank and Zenith Bank which rose by 10.00 percent, 6.89 percent and 1.83 percent respectively, spurred the gain witnessed in the market.
The All-Share Index (ASI) advanced by 0.75% to 24,278.07 basis points, to close market capitalization at N12.664 trillion. Accordingly, Month-to-Date and Year-to-Date losses fell to -0.85% and -9.45%, respectively.
READ ALSO: Consumer goods index turns Nigerian Bourse bearish, amidst poor market liquidity
Total volume of trades improved by 49.56 percent to 232.60 million units, valued at N4.69 billion and exchanged in 3,523 deals.
Fidelity Bank was the most traded stock by volume at 37.9million units while MTN Nigeria was the most traded stock by value at N3.21 billion.
Market sentiment, as measured by market breadth, was positive as 25 stocks advanced, relative to 8 decliners with Wapco and JBerger leading the gainers chart by 10% and 9.9% respectively, while Berger Paint and Caverton recorded the largest price shed with 9.63% and 4.4% respectively.
Analyzing by sectors, all the major sub-indexes we cover posted gains with the exception of the Consumer Goods and Oil & Gas Indexes.
READ MORE: Nigerian Breweries, MTN dominate as Nigerian stocks closes lower
Renewed buying interest in Tier-one banking stocks placed the Banking index (+3.41%). The NSE Insurance and Industrial indexes trailed to appreciate by 1.10% and 0.12% respectively.
However, the Consumer Goods and Oil & Gas index closed as the losers for the day, lower by -0.21% and-0.17% as a result of price decline recorded in FLOURMILL, DANGSUGAR and OANDO respectively.
Top gainers
WAPCO up 10.00% to close at N11, JBERGER up 9.90% to close at N17.2, GUARANTY up 6.89% to close at N22.5, ZENITH BANK up 1.83% to close at N16.65, OKOMUOIL up 1.15% to close at N70.5
Top losers
BERGER down 9.63% to close at N6.1, ETI down 4.17% to close at N4.6, CAVERTON down 4.40% to close at N1.74, FLOUR MILL down 2.70% to close at N18, DANGSUGAR down 0.85% to close at N11.6
Explore economic research data from Nairametrics on Nairalytics
Outlook
Nigerian bourse finished on a positive note on Wednesday trading session, with renewed buying interest in Tier-one banking stocks placed the Banking index as the best performing index, coupled with soaring oil prices boosting Nigeria’s macros in the short term. However, Nariametrics envisages you seek the advice of a certified stockbroker when choosing stocks to buy.
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