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Ikeja Hotel, Cadbury, Union Bank top gainers’ chart on Wednesday 

Ikeja Hotel, Chams Plc, Cadbury Nigeria Plc, Royal Exchange and Union Bank led the gainers on the floor of Nigeria Stock Exchange today. 

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Nigerian stock exchange, All share index, Nigerian bourse, Investors, Bulls gather momentum ASI up 0.48%, gained N55.3 billion, Dangote ,MTN & Gtbank hit a home run as Nigeria’s bourse continues bullish momentum

Ikeja Hotel, Chams Plc, Cadbury Nigeria Plc, Royal Exchange and Union Bank led the gainers on the floor of Nigeria Stock Exchange today.

The market traded in positive territory as the all-share index increased by 0.02% to close at 26,665.73 index points. The Equity market capitalisation closed at N12.87 trillion.

Top gainers

Ikeja Hotel Plc was the highest gainer on the bourse today with 9.8% increase to close at N1.12 followed by Chams Plc, which gained 9.09% to close at N0.36. Cadbury Nigeria Plc also gained 7.58% to close at N10.65 with Royal Exchange Plc gaining 7.41% to close at N0.29 while Union Bank Plc rounded off the list with 4.62% gain to close at N6.8.

[READ MORE: Access, Zenith, GTBank trade N3.42 billion shares on Tuesday]

Top losers

UACN Property Development Company led the losers’ chart, shedding 10% of its value to close at N0.9 followed by UPDC Real Estate, which lost 9.88% to close at N3.65. Arbico lost 9.77% to close at N3.51. Cornerstone Insurance shed 8.93% to close at N0.51 while Wema Bank capped the list with 5.41% decline to close at N0.7.

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Top trades by volume

Access Bank Plc was the most actively traded stock on the floor today with trades in 64.2 million shares valued at N636.03 million across 194 deals. Zenith Bank Plc followed with trades in 31.01 million shares at N577.41 million across 336 deals.

[READ MORE: Access, Zenith, GTBank trade N3.42 billion shares on Tuesday]

GT Bank traded 26.58 million shares at N786.01 million across 179 deals as First Bank Holdings also recorded trades in 15.2 million shares valued at N95.24 million across 236 deals while African Alliance Insurance traded 10 million shares valued at N2 million in just one deal.

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Cryptocurrency

4 Cryptos you might make money from in November

Bitcoin remains the most liquid crypto, and has been attracting high institutional interest.

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IMF calls crypto "special currency" and educates the public, Crypto: Why investors are rushing to DeFi assets, total market capitalization of cryptocurrencies, Crypto, Whales move 100,000,000 Tether, USDT in less than 24 hours

Billions of dollars flow daily into the crypto-verse, as investors try to get more value from their invested buck.

Nairametrics decided to highlight crypto assets that are likely to make investors and traders smile to the bank.

The first pick is ZCash (ZEC). It’s on Nairametrics’ top pick, on the basis that it will be undergoing its first halving this November. This means that its inflation level would be reduced to about 13%.

It also means that the inflation correction due to Zcash’s halving may likely give the temporary bump.

Ethereum makes the list based on the fact that investors have increased their buying pressure on the second most valuable crypto by market value, coupled with the bias that the number of Ethereum $ETH Number of Addresses Holding 0.1+ coins just reached an ATH of 3,590,870.

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Previous ATH of 3,590,669 was observed on 30 October, 2020.

The third pick is Cardano (ADA), on sentiments that it’s heading towards its smart contract release, sometime in November, leading to a significant amount of applications built on Cardano by this time 2021. This means that more developers will see it as an attractive medium for building their desired apps.

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And of course, the most valuable crypto in the crypto-verse, Bitcoin. This pick is for obvious reasons: it remains the most liquid crypto, and has been attracting high institutional interest, most recently from PayPal, which means that it might just be a matter of time before the crypto asset becomes the number one choice asset for safe haven.

Also, miners are earning fees at record highs as recent reports from Glassnode, a crypto analytic firm, reveals. Bitcoin miners’ revenue from fees (1d MA) just reached a 2-year high of 0.296.

The previous 2-year high of 0.295 was observed on 30 October, 2020.

 

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Disclaimer: Nairametrics, with the help of other leading financial data providers, through their price assessments performance in percentage terms, ranked the financial assets at specific categories.

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The objective is to give the needed insight of top-performing financial assets around the world, and should not be seen as a piece of investment advice or guide, as Nairametrics advises one to seek the services of a certified financial advisor for such services.

Therefore, Nairametrics doesn’t bear any responsibility for any trading loss you might incur as a result of using this data.

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Market Views

Zoom is 3 times bigger than Nigeria’s Stock Market Capitalization

Zoom sported a market valuation of $131 billion, compared to the Nigerian Stock market with a value standing at $42.1 billion. 

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The world’s fastest-growing video conferencing service company, Zoom, has seen its market valuation rocket past $130 billion—more than 3 times the value of the Nigerian Stock Exchange.

Zoom has attracted high demand growth for its service, especially since COVID-19 changed the way the world works. As one of the pioneers of modern work-from-home tools, millions of organizations around the world have adopted the application as their preferred communication tool in the workplace, particularly video conferencing.

What we know: At the time of drafting this report, Zoom sported a market valuation of $131 billion, compared to the Nigerian Stock market with a value presently standing at $42.1 billion (N16 trillion), using the official exchange rate of N380 to $1.

  • Zoom’s enviable performance began in early 2020, when it printed a market capitalization of just $19 billion. While Zoom posted $1.35 billion in revenue over the past 12 months, the Nigerian Stocks bourse, in comparison, printed a market capitalization of $39.1 Billion (N14.87 trillion) at the end of January, according to data obtained from Nairalytics (financial data arm of Nairametrics).
  • The bullish run got intensified for the tech company, particularly in Q2 that ended  August 31, when it posted an impressive earning result of $663.5 million in revenue (far beating analysts’ prediction of $500.5 million)—and it still firing on all cylinders.
  • Such gains seen in Zoom’s stock price have added so much wealth to its investors, that Zoom founder, Eric Yuan, has seen his own fortune rise more than 551% year to date, with a valuation put at about $23.2 billion, according to data seen from Bloomberg Billionaire Index.

Eric Yuan is presently the chairman and CEO of Zoom Video Communications, the world’s biggest provider of video conferencing software to the business.

On the other hand, Nigerian stocks also defied expectations and produced positive returns, with every month in the third quarter, printing positive returns as buying pressure increased across the market spectrum. The Nigerian stock market’s performance was triggered by the Industrial Index emerging as the biggest gainer, up by 8.14% followed by the most liquid index, banking index (10.08%), and the Consumer Index printing (2.74%), still market capitalization hovered below $40 billion.

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Zoom has now boosted its revenue forecasts to $690 million for the present quarter (through the end of October), and also increased its financial guidance for the full fiscal year, through Jan 2021, to about $2.4 billion in revenue, up from $623 million for the year through January 2020, as it takes into account the demand for remote work solutions for businesses reaching a record high.

The exponential valuation seen in the world’s biggest video company had been enhanced by the fact that a significant amount of businesses and individuals now work remotely, on the bias of the world’s most disruptive biological pathogen COVID-19’s continued spread, triggering global investors to increase their buying pressure on the American communications technology company, which is barely less 10 years old in operation.

Bottom-line: Covid-19 may have caused a lot of damage to the global economy since it was declared a pandemic in the first quarter of the year, but not for remote working app companies like Zoom, Slack, and Microsoft Teams.

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  • The US stock markets assign significant value to companies that can grow exponentially, as they believe these are companies that will continue to dominate the future of work.
  • Just like US tech stocks, stocks on the Nigerian Stock Exchange have also gained significantly in the latter part of this year.
  • However, rather than gaining from higher revenues growth, they have relied on Meffynomics (lower interest rate in a high inflation economy) to attract portfolio inflows from local investors.

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Company Results

Seplat declares a total interim dividend of $29 million for shareholders

The Interim dividend of US$0.05 per share will be paid on all the outstanding 588,444,561 ordinary shares of the company.

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Seplat Petroleum Development Company Plc, a leading Nigerian independent energy company listed on both the Nigerian Stock Exchange and London Stock Exchange, has announced the payment of a total $29,422,228.05 as interim dividend to shareholders.

This information is contained in its notification dated 30 October, 2020, which was signed by the Company Secretary, Mr. Emeka Onwuka, and sent to the floor of the Nigerian Stock Exchange today.

The notification partly reads:

“Seplat Petroleum Development Company Plc (“Seplat” or the “Company”), a leading Nigerian independent energy company listed on both the Nigerian Stock Exchange and London Stock Exchange, today announces an interim dividend at a rate of US$0.05 (United States Five Cents) per Ordinary Share (subject to appropriate WHT) to be paid to SEPLAT’s shareholders whose names appear in the Register of Members as at the close of business on 13th November 2020.”

What you should know

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  • The Interim dividend of US$0.05 per share will be paid for all the outstanding 588,444,561 ordinary shares of the company owned by the shareholders of the leading energy company, and this gives a total interim dividend of $29,422,228.05, to be distributed to the shareholders of the company.
  • The Interim Dividend of US$0.05 (United States Five Cents) per Ordinary Share of N0.50k each (subject to appropriate withholding tax) will be paid to shareholders whose names appear in the Register of Members as at the close of business on 13th November, 2020.
  • To enable SEPLAT’s Registrar, Datamax Registrars Limited, prepare for the payment of the interim dividend, the Register of Shareholders will be closed on 16th November 2020.
  • On the London Stock Exchange, the Associated Record Date will be 13th November, 2020, and the Ex-Dividend date will be 12th November, 2020.
  • The exchange rate for the naira or pounds sterling amounts payable will be determined by reference to the relevant exchange rates applicable to the US dollar on 12th November, 2020, and will be communicated by the Company on 13th November, 2020.
  • On or around 7th December, 2020, the interim dividend will be paid electronically to shareholders whose names appear on the Register of Members as at 13th November 2020, and who have completed the e-dividend registration and mandated the Registrar to pay their interim dividend directly into their Bank accounts.
  • Shareholders with dividend warrants and share certificates that have remained unclaimed or are yet to be presented for payment or returned for validation are advised to complete the e-dividend registration or contact the Registrar.

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