The stock market continued its bullish trend on Monday, as the All share index gained 0.74% to close at 29,633.58 index points leaving the equity market capitalisation of the market at N15.29 trillion.
MTN Nigeria, NPF Microfinance, Lasaco Assurance, UACN and GSK topped the rank of gainers on the bourse as Cadbury Nigeria and Transcorp Hotel led today’s losers.
MTN Nigeria was the best performing stock on Monday with 10% gain to close at N127.6 followed by NPF Microfinance bank having gained 9.68% to close at N1.36 as UACN gained 7.8 to close at N11.05. Lasaco Assurance gained 7.41% to close at N0.29 while Glaxo Smith Kline rounded off the list with 6.6 gain to close at N5.65.
On the flip side, Cadbury Nigeria was the worst-performing stock as it dipped 9.95% to close at N9.5 followed by Transcorp Hotel, which lost 9.18% to close at N4.45. Neimeth pharmaceuticals dipped 8.93% to close at N0.51.
Presco plc lost 8.17% to close at N52.25 while Unilever Nigeria lost 5.26% to close at N18.
Top trades by volume
Access bank was the most actively traded stock on the bourse today, having traded in 63.7 million shares valued at N628.8 million across 450 deals followed by UBA, which traded in 40.6 million shares at N354.2 million across 386 deals.
Zenith bank plc traded in 39.5 million shares at N861.15 million across 456 deals as UACN also traded in large volume with 24.4 million shares traded at N268.65 million across 208 deals while GT bank capped the list with trades in N18.17 million shares at N573.72 million across 237 deals.
DANGOTE CEMENT, GUINNESS drops lower, as investors lose N75.07 billion
Nigerian bourse recorded its second trading loss for the week.
The Nigerian Stock Exchange on Tuesday closed bearish. The All Share Index dropped by 0.58% to close at 24,883.70 basis points as against -0.06% drop recorded on Monday.
Its Year-to-Date (YTD) returns currently stands at -7.30%. Nigerian bourse’s market capitalization presently stands at N12,981 trillion. Investors’ losses recorded today stood at N75.07 billion.
Trading volume turnover closed positive as volume moved up by +17.84% as against +4.90% uptick recorded in the previous session. ACCESS, FIDELITYBK, and GUARANTY were the most active to boost market turnover.
Market breadth closed negative as CADBURY led 16 Gainers as against 17 Losers topped by PRESTIGE.
- CADBURY up 6.82% to close at N7.05
- NB up 6.25% to close at N34
- ARDOVA up 4.94% to close at N12.75
- VALUEFUND up 1.37% to close at N115.05
- GUARANTY up 1.02% to close at N24.8
- IKEJAHOTEL down 9.82% to close at N1.01
- MANSARD down 8.23% to close at N1.45
- DANGCEM down 4.09% to close at N136
- GUINNESS down 3.33% to close at N14.5
- UCAP down 3.09% to close at N3.14
Nigerian bourse recorded its second trading loss for the week, triggered by high selling pressures notable in DANGCEM and GUINNESS.
Nairametrics, however, recommend you seek the counsel of a certified financial advisor when buying stocks.
Gold price loses $80 following Russia’s COVID-19 vaccine approval
This marks gold’s steepest daily decline in nearly five months.
Gold futures has lost about 5% or $80 in less than four hours, at the London trading session this afternoon.
Gold futures fell as low as $1,950 per ounce, $80 differential from its opening price of $2,030
This marks gold’s steepest daily decline in nearly five months, even as global stocks went bullish following news that Russia’s COVID-19 vaccine has obtained regulatory approval.
The COVID-19 vaccine approval by Russia was met with some skepticism by experts.
More details shortly…
DMO offers N150 billion worth of FGN Bonds for subscription
FGN Bonds are backed by the full faith and credit of the Federal Government of Nigeria.
The Federal Government on Tuesday, 11th August 2020, through the Debt Management Office (DMO), offered for subscription Federal Government Bonds (FGN Bonds) valued at N150 billion.
The FGN bonds are listed in four tranches that include:
- N25,000,000,000 – 12.50% FGN JAN 2026 (10-Yr Re-opening)
- N40,000,000,000 – 12.50% FGN MAR 2035 (15-Yr Re-opening)
- N45,000,000,000 – 9.80% FGN JUL 2045 (25-Yr Re-opening)
- N40,000,000,000 – 12.98% FGN MAR 2050 (30-Yr Re-opening)*
Auction Date: August 19, 2020
Settlement Date: August 21, 2020
Summary Of The Offer
Issuer: Federal Government of Nigeria (“FGN”)
Units Of Sale: N1,000 per unit subject to a minimum subscription of N10,000 and in multiples of N1,000 thereafter.
Interest rate: For Re-openings of previously issued bonds, (where the coupon is already set), successful bidders will pay a price corresponding to the yield-to-maturity bid that clears the volume being auctioned, plus accrued interest from the original issue date.
Interest payment: Payable semi-annually.
Redemption: Bullet repayment on the maturity date.
- Qualifies as securities in which trustees can invest under the Trustee Investment Act
- Qualifies as Government securities within the meaning of Company Income Tax Act (“CITA”) and Personal Income Tax Act (“PITA”) for Tax Exemption for Pension Funds amongst other investors
- Listed on the Nigerian Stock Exchange
- All FGN Bonds qualify as liquid assets for liquidity ratio calculation for banks
Security: FGN Bonds are backed by the full faith and credit of the Federal Government of Nigeria and are charged upon the general assets of Nigeria
Understanding Bonds: A bond is a fixed income instrument that represents a loan made by an investor to a borrower (typically corporate or governmental).
A bond could be thought of as an I.O.U. between the lender and the borrower that includes the details of the loan and its payments.
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A bond has an end date when the principal of the loan is due to be paid to the bond owner and usually includes the terms for variable or fixed interest payments that will be made by the borrower.