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Stock Market

Ecobank, Dangote rally Nigerian stocks as markets close.

This week, a total turnover of 1.662 billion shares worth N18.205 billion in 28,791 deals were traded by investors on the floor of the Exchange.

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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 

This week, a total turnover of 1.662 billion shares worth N18.205 billion in 28,791 deals were traded by investors on the floor of the Exchange, compared with last week’s total of 1.012 billion shares valued at N9.892 billion that exchanged hands in 17,023 deals.

  • 39 equities appreciated in price during the week, higher than 28 equities in the previous week. 22 equities depreciated in price, lower than 20 equities in the previous week, while 102 equities remained unchanged, lower than 115 equities recorded in the preceding week.
  • The Financial Services industry (measured by volume) led the activity chart with 1.385 billion shares valued at N11.813 billion traded in 17,117 deals; thus contributing 83.35% and 64.89% to the total equity turnover volume and value, respectively.
  • The Services industry followed with 53.551 million shares worth N128.065 million in 1,003 deals. The third place went to the Consumer Goods industry, with a turnover of 53.444 million shares worth N2.780 billion in 3,607 deals.
  • Trading in the top three equities, FBN Holdings Plc, Guaranty Trust Bank, and Zenith Bank Plc, (measured by volume) accounted for 774.294 million shares worth N9.796 billion in 7,516 deals, contributing 46.59% and 53.81% to the total equity turnover volume and value, respectively.
  • The NSE (Nigerian Stock Exchange) All-Share Index and Market Capitalization both appreciated by 4.45% to close the week at 24,045.40 and N12.531 trillion, respectively.

READ MORE: AXA Mansard to downsize business, awaits shareholders’ nod 

Top 10 gainers for the week

ARDOVA PLC up 32.47% to close at N15.30.

WAPIC INSURANCE PLC up 26.92% to close at N0.33.

NIGERIAN BREW PLC up 25.00% to close at N37.50.

CONSOLIDATED HALLMARK INSURANCE PLC up 20.00% to close at N0.36.

PRESTIGE ASSURANCE PLC up 20.00% to close at N0.60.

UACN PROPERTY DEVELOPMENT COMPANY PLC up 19.48% to close at N0.92.

DANGOTE CEMENT PLC up 15.38% to close at N150.00.

ECOBANK TRANSNATIONAL INCORPORATED up 12.36% to close at N5.00.

ROYAL EXCHANGE PLC up 10.00% to close at N0.22.

CUTIX PLC up 9.92% to close at N1.33.

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Top 10 losers for the week

Binance

LINKAGE ASSURANCE PLC down 16.98% to close at N0.44.

C & I LEASING PLC down 10.00% to close at N4.50.

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MCNICHOLS PLC down 8.70% to close at N0.42.

NEM INSURANCE PLC 2.35 -0.19 -8.09% to close at N2.16.

LAFARGE AFRICA PLC down 6.78% to close at N11.00.

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NPF MICROFINANCE BANK PLC down 5.60% to close at N1.18.

WEMA BANK PLC down 5.08% to close at N0.56.

COURTEVILLE BUSINESS SOLUTIONS PLC down 4.76% to close at N0.20.

MAY & BAKER NIGERIA PLC down 4.44% to close at N2.58.

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CHAMS PLC down 4.35 to close at N0.22.

READ ALSO: Fintech: CBN issues new license

Outlook

Investors saw a recovery in oil demand, with Brent crude surging past $30 per barrel, coupled with the easing of COVID-19 lockdowns in major economic hubs around the world.
This bullish bias has so far pushed Nigeria’s stock market into a positive route, following impressive gains recorded this week.

Some Nigerian stocks show good fundamentals and remain attractive to local investors. However, Nairametrics recommends cautious buying across the local bourse as profit taking gains momentum.

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Follow Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.

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Stock Market

United Capital Executive Director acquires 2 million additional shares worth N12.4 million

An Executive Director of United Capital Plc has purchased additional units of its shares worth N12.4 million.

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Group Executive Director, others acquire over 3.5 million shares of United Capital Plc

United Capital Plc has notified the Nigerian Stock Exchange that one of its Executive Directors, Sunday Anene has acquired 2,000,000 additional units of its shares, worth N12.4 million.

In line with the Nigerian Stock Exchange policy on insider dealing, the formal disclosure was made by the company’s secretary, Leo Okafor.

According to the disclosure, the recent deal which took place on the 24th of February, 2021, saw Mr Anene purchase 2,000,000 additional units of the firm’s shares at N6.20 per unit, totalling N12.4 million.

Meanwhile, United Capital Plc share price currently trades at N6.24 on the floor of the Nigerian Stock Exchange.

Results from its recently released FY 2020 financials showed a 57% increase in Profit After Tax, from N4.97 billion to N7.81 billion.

Other key financial metrics recorded impressive growth, part of which played an underlying role in the declaration of a total dividend of N4.2 billion- a major improvement of about 40% when compared to 2019 figures.

What you should know

  • Mr Anene had in November 2020, spent the sum of N3.75 million on additional 915,574 units of the firm’s shares.
  • United Capital Plc is a Nigeria-based financial and investment services company, offering a wide array of services like investment banking, portfolio management, securities trading and trusteeship etc.

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Spotlight Stories

Sell-offs resume in Nigerian stock market, catalyzed by Ecobank, Fidson

Investor sentiment as measured by market breadth was negative with 24 decliners and 14 advancers.

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Nigerian Breweries brings the Bears to party, Investors down N20.5 billion 

Nigerian bourse ended the fourth trading session on a negative note. Nigeria’s All-share index depreciated by 0.31% today to 40,095.49 index points.

Year-to-date return and market capitalization settled at -0.43% and N20.97 trillion respectively.

  • A total volume of 326.0 million units of shares, valued at N3.7 1billion exchanged hands in 4,567 deals.
  • Across coverage sectors, the performance was mostly negative as most tracked indices finished south. The NSE banking, consumer goods, and oil & gas fell by 1.44%, 0.79%, and 0.15% respectively.
  • On the flip side, the NSE insurance improved by 0.24%, while the industrial index closed flat.
  • Investor sentiment as measured by market breadth was negative with 24 decliners and 14 advancers. LASACO (-9.68%) led the laggards today, while CHAMS (+9.09%) finished top gainer.

Top gainers

  1. CHAMS up 9.09% to close at N0.24
  2. ROYALEX up 8.00% to close at N0.27
  3. WEMABANK up 7.69% to close at N0.7
  4. REDSTAREX up 5.77% to close at N3.3
  5. PRESTIGE up 4.55% to close at N0.46

Top losers

  1. LASACO down 9.68% to close at N1.24
  2. FIDSON down 8.41% to close at N4.9
  3. ETI down 6.31% to close at N5.2
  4. MBENEFIT down 5.13% to close at N0.37
  5. UACN down 5.03% to close at N7.55

Outlook

Nigerian stocks ended the second trading session of the week on a bearish note amid profit-taking across the market spectrum.

  • Downtrend was driven by price depreciation medium and large capitalized stocks amongst which are; ETI, FIDSON, UACN.
  • That being said, Nairametrics envisages cautious buying on the account that certain market indicators reveal investors are taking some of their gains across the market spectrum.

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