US Capitol complex temporarily shut down
Champion Breweries gains 32.35% in a week, following Heineken’s indirect acquisition of its shares
Kinyungu Ventures Research calls for changes to cut-and-paste VC strategy in Africa
Flour Mills shares lose N7.4 billion on NSE, as investors book profit
First Bank, Dangote stocks drop, investors lose N39.54 billion
COVID-19 Update in Nigeria
Daily Parallel Market Exchange Rate – ₦470/$1
4 cryptos gain over 400% in a month, far outperforming Bitcoin
Naira remains stable across forex markets as external reserve continues to rise
Oil prices tumble on fears of global economic recovery
Markets
Top 10 Stockbroking firms trade shares worth N138.1 billion in January
The Nigerian Stock Exchange (NSE) enjoyed a bullish start in January 2020 as the all-share index closed at 28,843.53 index points.
Nigerian Stock Exchange (NSE) enjoyed a bullish start in January 2020, as the all-share index closed at 28,843.53 index points, 7.46% increase compared to 26,842.07 recorded on 31st December 2019.
The top ten stockbroking firms traded on stocks worth N138.1 billion, accounting for 58.8% of the total value of shares traded in the month. This is according to the Broker Performance Report for the month ended 31st January 2020.
Also, the report showed that the top ten stockbrokers on the stock exchange accounted for 49.15% of the total unit of shares transacted in the month, trading 8.29 billion units.
Stockbrokers by value
- Stanbic IBTC is top on the list with trades worth N35.76 billion representing 15.24% of the total value.
- EFG Hermes Nigeria Limited followed with transactions worth N20.76 billion. 8.82% of the total value of transactions.
- Rencap Securities traded in stocks worth N18.49 billion, accounting for 7.88% of the total value.
- Chapel Hill made transactions worth N12.54 billion (5.34%) to rank fourth on the list.
- CSL Stockbrokers Limited transacted in stocks valued at N11.82 billion.
- While other stockbrokers like Cardinalstone Securities, Tellimer Capital, Imperial Asset Managers, Meristem Stockbrokers and Coronation Securities (in the order listed above), pulled transactions valued at N9.43 billion, N8.12 billion, N7.76 billion, N7.06 billion and N6.41 billion.
[READ MORE: Top 10 stockbroking firms trade N1.35 trillion on stocks in 2019)
Stockbrokers by volume of shares
- Mainstreet Bank Securities topped the list with 1.41 billion units of shares, representing 8.38% of the total volume of shares sold during the month.
- Cardinalstone Securities came second with 1.04 billion units of shares representing 6.16%.
- Coronation Securities followed with 851.95 million units of shares which accounted for 5.05% of the total.
- CSL Stockbrokers ranked fourth with transactions in 794.49 million units of shares. 4.71% of the total unit of shares traded in January.
- Morgan Capital Securities pulled transactions in 792.33 million units of shares to rank fifth.
- EFG Hermes; Chapel Hill Denham; Edgefield Capital Management; Rencap Securities and Stanbic IBTC Stockbrokers. They all transacted in 763.48 million shares, 751.73 million shares, 716.41 million shares, 613.55 million shares and 559.32 million shares respectively.
Stock Market
Champion Breweries gains 32.35% in a week, following Heineken’s indirect acquisition of its shares
The share price of Champion Breweries’ stocks since the resumption of the market last week increased by 32.35%.
Champion Breweries stocks have gained 32.35% since the open of trade last week Monday, as investors scamper for the shares of the company at the back of expected takeover by Heineken Brouwerijen B.V.
The share price of the company’s stocks on the NSE, from 11-18 January 2021, increased by 32.35%.
Read Also: U.S leading stocks suffer biggest daily plunge since October 28, 2020
This move is attributable to the recent rush for the shares of the company by investors, following a recent purchase of the shares of the mid-cap company by Heineken’s Special entity.
What you should know
- Nairametrics reported that Raysun Nigeria Limited, a Special Purpose Entity (SPE) wholly-owned by Heineken Brouwerijen B.V., acquired 1,903,609,538 additional shares of the brewery company, worth N4.95 billion on 7 January 2021, at a price of N2.60 per share.
- The acquisition took Heineken’s total stake in Champion Breweries to 6,633,043,538 or 84.72% (indirectly).
Read Also: MTN, SEPLAT, ARDOVA, rally Nigerian stocks up
- According to data from the NSE, Champion Breweries shares cleared at N1.35 per share today on the floor of the exchange with 29,291 units worth N43,350.68 crossing hands in 4 deals.
- At the current price of N1.35, the shares of the company have gained more than 56.98% since the open of trade this year, 4 January 2021. This is 95.65% higher than the shares’ 52 weeks low price of N0.69 per share.
- The current share price of Champions Breweries is the highest in 52 weeks at N1.35 per share.
Stock Market
Flour Mills shares lose N7.4 billion on NSE, as investors book profit
Flour Mills shares lost N7.4 billion in today’s session, amid sell-offs occasioned by profit-taking activities by investors.
Spotlight Stories
First Bank, Dangote stocks drop, investors lose N39.54 billion
The market breadth closed positive as CADBURY led 35 Gainers as against 21 Losers topped by FLOURMILL at the end of today’s session.
Nigerian Stocks ended the first trading session of the week on a bearish note. The All Share Index plunged by 0.23% to close at 41,082.38 index points as against the 0.52% gain recorded on Friday.
- Its Year-to-Date (YTD) returns currently stands at +2.02%. Nigerian Stock Exchange market value stood at N21,49 billion.
- Investors lost N39.54 billion
- Nigerian bourse trading turnover on Monday however printed positive, as volume gained by 10.79% as against -17.64% downtick recorded at the last trading session.
- JAPAULOIL, UNIVINSURE, and TRANSCORP were the most active to boost market turnover.
- The market breadth closed positive as CADBURY led 35 Gainers as against 21 Losers topped by FLOURMILL at the end of today’s session – an unimproved performance when compared with the previous outlook.
Top gainers
- CADBURY up 10.00% to close at N10.45
- BOCGAS up 9.98% to close at N13.77
- LIVESTOCK up 9.95% to close at N2.32
- GUARANTY up 1.82% to close at N33.65
- WAPCO up 0.84% to close at N24
Top losers
- FLOURMILL down 5.49% to close at N31
- FBNH down 3.95% to close at N7.3
- GUINNESS down2.63% to close atN18.5
- NASCON down 1.71% to close at N17.25
- DANGCEM down 1.01% to close at N234.6
Outlook
Nigerian Stocks ended the first trading session of the week on a negative note amid falling oil prices.
- Buying pressure from blue-chip stocks, particularly GTBank, WAPCO could not help the Stock bulls in maintaining their run on the account of profit-taking notice in Dangote, First Bank, and Flour mills.
- Nairametrics expects you to seek the advice of a certified stockbroker or financial advisor in choosing stocks to buy, as some Nigerian stocks exhibit cyclic return.
