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Stock Market

BOC Gases hits 5 year high in a bear market

BOC Gases hits 5 year high in a bear market

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Linde Group, BOC Gases Nigeria, Acquisition

BOC Gases, has remained at a 5-year high, despite a bear market. The stock closed yesterday’s trading at N6.12, which it attained on the 16th of August 2019.    

boc BOC Gases hits 5 year high

Year to date, the stock is up 45.37%, outperforming the Nigerian Stock Exchange All Share Index which is down 13.97%.

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Nairametrics thus placed the stock on this week’s watchlist, as it was last week’s best performing stock appreciating by 9.9%.

Still some way to go 

For investors that got into the stock 10 years ago however, it has some way to go before they can at least break even. The stock was trading in double digits in July 2009.

boc BOC Gases 10 year chart

Where next?  

While the firm is currently at a high, possibilities of a further rally are dependent on its Q3 results.

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The company’s H1 2019 results show a marginal increase in topline, but a slight decrease in bottom-line. H1 revenue increased from N1.36 billion in 2018 to N1.48 billion in 2019, up 8.82%. Profit after tax fell by 14.8%, from N147 million in 2018 to N128 million in 2019.

On a quarterly basis, the decline in profit is more pronounced. The firm made an operating loss of N13 million in the second quarter of 2019, as against an operating profit of N104 million for the corresponding period of 2018.

The firm however recorded a profit after tax of N24 million in the second quarter of 2019, due to finance income comprising interest on deposits and net gain on foreign exchange transactions.

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Reasons for the decline  

The company attributed the decline to gas shortages and its organizational health initiatives, following a merger between its ultimate parent company Linde Aktiengesellschaft (Linde AG), and Praxair Inc.

It however expects much more improved gas supply in the second half of the year.

About the firm  

BOC Gases was incorporated on the 12th of November 1959, under the name Industrial Gases Nigeria Limited. The name was changed to Industrial Gases Nigeria Limited on the 10th of July 1961, and thereafter to BOC Gases Nigeria Plc on the 17th of March, 1997.

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It is a subsidiary of BOC Holdings UK, which in itself is a subsidiary of Linde AG, a German firm.

The company is into the manufacture and sale of industrial and medical gases, as well as the sale of special gases, welding and medical equipment.

 

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Patricia

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

Nigerian bourse falls by 0.12% WoW despite gains from GTBank & Zenith

The NSE All-Share Index and Market Capitalization both depreciated by 0.12%.

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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

The Nigerian All-Share Index and Market Capitalization both dropped by 0.12% to close the week at 24,306.36 and N12.680 trillion respectively.

Nigeria’s bourse closed the week with a total turnover of 901.542 million shares worth N13.453 billion in 18,676 deals traded this week by investors on the floor of The Exchange. This is in contrast to a total of 961.833 million shares valued at N9.181 billion that exchanged hands last week in 20,058 deals.

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The NSE All-Share Index and Market Capitalization both depreciated by 0.12% to close the week at 24,306.36 and N12.680 trillion respectively.

Explore Economic Research Data From Nairametrics on Nairalytics

The Financial Services industry (measured by volume) led the activity chart with 629.368 million shares valued at N5.186 billion traded in 9,887 deals; thus contributing 69.81% and 38.55% to the total equity turnover volume and value respectively. The ICT industry followed with 59.506 million shares worth N5.161 billion in 684 deals. The third place went to the Consumer Goods industry, with a turnover of 57.136 million shares worth N1.385 billion in 2,993 deals.

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Trading in the top three equities namely; Guaranty Trust Bank Plc, Fidelity Bank Plc and Zenith Bank Plc (measured by volume) accounted for 293.678 million shares worth N4.042 billion in 4,334 deals, contributing 32.58% and 30.05% to the total equity turnover volume and value respectively.

25 equities appreciated in price during the week, higher than 13 equities in the previous week. 33 equities depreciated in price, lower than 59 equities in the previous week, while 105 equities remained unchanged, higher than 91 equities recorded in the previous week.

READ MORE: GTBank releases 2019 full year audited results

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Top gainers

RED STAR EXPRESS PLC up 18.52% to close at N3.52.

P Z CUSSONS NIGERIA PLC up 15.38% to close at N4.50.

STERLING BANK PLC. up 13.04% to close at N1.30.

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CORNERSTONE INSURANCE PLC up 10.00% to close at N0.55.

ZENITH BANK PLC up 9.51% to close at N16.70.

CHAMS PLC up 9.09% to close at N0.24.

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NIGERIAN AVIATION HANDLING COMPANY PLC up 9.00% to close at N2.18.

GUARANTY TRUST BANK PLC. up 7.93% to close at N22.45.

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FIDELITY BANK PLC up 7.19% to close at N1.79.

LAW UNION AND ROCK INS. PLC. up 7.00% to close at N1.07.

 

Top losers

CUSTODIAN INVESTMENT PLC down 10.91 to close at N4.90.

CONOIL PLC down 10.00 to close at N18.90.

BETA GLASS PLC. down 9.95 to close at N61.55.

MRS OIL NIGERIA PLC. down 9.78 to close at N12.45.

UNILEVER NIGERIA PLC. down 9.78 to close at N12.45.

LIVESTOCK FEEDS PLC. down 9.68 to close at N0.56.

AXAMANSARD INSURANCE PLC down 9.66% to close at N1.59.

BERGER PAINTS PLC down 9.63% to close at N6.10.

ARBICO PLC down 9.52% to close at N1.71.

UACN PROPERTY DEVELOPMENT COMPANY PLC down 9.09% to close at N0.90.

 

Outlook

The Nigerian bourse struggled on most reference levels all week, with the exception of most tier-1 banks, that put up a good show in terms of turnover and gains recorded for the week.

However, with daily case surges in COVID-19 caseloads in major cities around Nigeria, and the high volatility ongoing on Nigeria’s black gold (Brent Crude), Nairametrics envisages cautious buying as geopolitical and economic uncertainty strengthens across the spectrum.

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Stock Market

Nigerian Bourse finishes on a bullish note, triggered by MTN, INTBREW, VITAFOAM

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Ecobank, Nigerian Stock Exchange, Beta Glass, Forte Oil, Transcorp lead gainers chart on Wednesday, Law Union, AIICO, Honeywell top gainers’ chart on Wednesday, Investors lose N9.14 billion to bearish trades on Wednesday , Dangote, Cadbury, Flourmills regains bullish momentum run at Nigeria’s Stock Market, AIRTEL, NESTLE, NB lead the Bulls a home win, Investors party with N106.3 Billion 

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.

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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.

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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

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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.

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Stock Market

Stocks close flat despite buying pressures from ECOBANK, GTBANK

GUARANTY finished the most traded stock by value at N534.4 million.  

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gtbank, stock market, Bulls dominate Nigerian bourse ASI up 0.74%, Investors gain N77 billion.

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.  

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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.  

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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, 

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 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 

 

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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. 

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