Courteville Business Solutions Plc, Tripple Gee and Company Plc, Cornerstone Insurance Plc, Cement Company of North Nig. Plc and Union Dicon Salt Plc led the gainers’ chart at the end of trading on the floor of the Nigerian Stock Exchange (NSE) today 28th October 2019.
While Courteville Business Solutions Plc earned the best performing stock, as it gained 9.52% to close at N0.23, followed by Tripple Gee Plc which gained 8.47% to close at N0.64, Cornerstone Insurance Plc gained 7.89% to close at N0.41, CCNN and Union Dicon gained 6% to end at N15.9 and 4.35% to end at N0.24 respectively.
Meanwhile, trading at the bourse ended Monday in positive territory as the All-Share Index closed at 26,384.45 basis points, up by 0.14%.
Top Losers: Livestock Feeds Plc was the worst-performing stock, dropped by 8% to close at N0.46, UACN Plc fell by 7.69% to close at N6. University Press Plc fell by 4.35% to close at N1.1 followed by Axamansard Insurance Plc that fell by 2.94% to close at N1.65 while Neimeth International Pharmaceuticals Plc rounded off the top five losers of the day. It shed 2.5% to close at N0.39.
Top Trades by volume: Veritas Kapital Assurance Plc was most actively-traded stock today with 346.69 million shares valued at N69.3 million traded in 4 deals, Zenith Bank Plc followed with 22.01 million shares valued at N374.06 million in 461 deals and Courteville Business Solutions Plc with 21.5 million shares valued at N4.88 million traded in 39 deals.
Access Bank Plc followed with 21.2 million shares valued at N155.03 million traded in 188 deals and Transnational Corporation of Nigeria Plc rounded off the top five most actively traded stocks with 11.1 million shares valued at N11.32 million traded in 32 deals.
ZENITHBANK, GUARANTY, ACCESS, others drag NSE to a negative close
STERLNBK was the most traded stock by volume at 78.9million units.
Nigerian stock market finished on a negative note as the ASI depreciated further by 0.36% to close at 24,114.59 from 24,200.60 index point. Similarly, market capitalization declined by 0.36% to close at N12.579 trillion
Likewise, activity level decreased as volume and value traded slipped by 9.96% and 50.84% respectively to 208.20 million and N1.0589billion. STERLNBK was the most traded stock by volume at 78.9million units while ZENITHBANK finished the most traded stock by value at N167.1 million.
Market sentiment, as measured by market breadth, closed in favour of the bear with 15 tickers closing in red relative to 8 gainers. GLAXOSMITH and AFRIPRUD were the top losers of the day with -9.38% and -4.24% declines; while UNILEVER and JAPAUL OIL recorded the largest gains with +9.64% and +4.17% appreciation in share value.
The depreciation in the ASI was largely driven by the Banking Index, losing -2.80%. The Oil & Gas Index also trailed to shed -0.42%, while the Consumer, Industrial and Insurance indexes appreciated marginally by 0.44%, 0.25% and 0.14% respectively.
Conversely, buying interest in UNILEVER (+9.64%) buoyed the Consumer Goods index. Likewise, the Industrial and Insurance index gained, on the back of appreciation in BUACEMENT, REGALINS and NEM.
UNILEVER up 9.64% to close at N13.65,CHAMS up 4.55% to close at N0.23,JAIZBANK up 3.70%to close at N0.56, TRANSCORP up 3.23% to close at N0.64,BUACEMENT up 0.61% to close at N41.45
GLAXOSMITH down 9.38% to close at N4.35, AFRIPRUD down 4.24% to close at N4.07, ZENITHBANK down 3.70% to close at N15.6, GUARANTY down 3.18% to close at N21.3, ACCESS down 3.17% to close at N6.1
Sell-offs in tier-one banks that include ZENITHBANK (-3.70%), GUARANTY (-3.18%) and ACCESS (-3.17%) dragged the Nigerian bourse downwards. Nairametrics envisages cautious buying as geopolitical uncertainty strengthens
Facebook, Microsoft, Amazon shares drop, top U.S official orders lockdown
Tech stocks in the S&P 500 have rallied nearly 16% this year.
Most U.S tech stocks on the Nasdaq composite slumped yesterday, as tech juggernauts, Facebook Microsoft, NVidia, Amazon, shed more than 2% after gaining earlier on Monday.
The selloff could be attributed to the California Governor’s order on closure of indoor restaurants, shut bars, gyms, hair salons, and closing churches in hardest-hit regions.
Tech stocks in the S&P 500 have rallied nearly 16% this year, even after Monday’s 2.1% slump, fueling a logic-defying market rebound that has largely pulled the major U.S. stock indexes out of their pandemic-induced slump.
Unofficially, the Dow Jones Industrial Average rose 11.04 points, or 0.04%, to 26,086.34, the S&P 500 lost 29.69 points, or 0.93%, to 3,155.35 and the Nasdaq Composite dropped 226.60 points, or 2.13%, to 10,390.84.
Quick fact; The Nasdaq Composite is made up of companies that trade on the Nasdaq. These companies include major software and internet-based juggernauts (Apple, Facebook Microsoft, NVidia, and Amazon) but also include biotech, financial and industrial companies’. The Nasdaq Composite tracks over 3000 stocks.
“The rally’s been driven by a handful of names. You’ve had headlines about COVID and layoffs and the economy. It’s finally caught up with these names everybody’s been hiding in,” said Michael O’Rourke, chief market strategist at Jones Trading in Stamford, Connecticut.
Nigerian stock investors lose N55.17 billion, as Zenith, GTBank and MTN finish lower
Market breadth closed in favor of the bear with 17 tickers closing in the red.
The Nigerian Stock Exchange began the first trading week on a negative note, as the All-share index fell by 0.44%. The downturn was impacted by losses recorded in large capitalized stocks.
The All-Share Index (ASI) dipped by 0.44% to 24,200.60 index points. Accordingly, Month-to-Date and Year-to-Date losses stands at -1.12% and -9.92%, respectively, while market capitalization stood at N12.624 trillion after declining by N55.17 billion.
Market activity level was inverse to the broad index, as total volume and value traded significantly improved by 75.67% and 139.55% to 231.23 million units and 2.154 billion. STERLNBK was the most traded stock by volume at 77.5million units, while MTNN finished the most traded stock by value at N1.124 billion.
Market breadth closed in favor of the bear with 17 tickers closing in the red against 14 gainers.
With the exception of the Industrial and Consumer Goods Indexes which closed 0.26% and 0.08% higher during the day due to price appreciation in NACHO, LIVESTOCK, and BUA CEMENT respectively, all other sectors were negative.
The decline in MOBIL and Eterna Oil pressured the Oil & Gas index down by 1.91%, the Banking index trailed to wane by 1.70% as a result of decline in ZENITHBANK and GTB, while losses in WAPIC, CUSTODIAN and LAW UNION prompted a 0.35% decline in the Insurance Index.
CAVERTON up 7.73% to close at N1.95, CILEASING up 6.33% to close at N4.2, AFRIPRUD up 6.25% to close at N4.25, NASCON up 5.26% to close at N10, BUACEMENT up 0.61% to close at N41.2
MOBIL down 9.97% to close at N173.4, ETERNA down 6.70% to close at N2.09, ZENITHBANK down 2.99% to close at N16.2, GUARANTY down 2.00% to close at N22, MTNN down 0.95% to close at N115.
Nigerian bourse finished on a bearish note, triggered by sell-offs in bluechip stocks. Nairametrics envisage cautious buying, as geopolitical uncertainty heightens.