Connect with us

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.



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.

GTBank 728 x 90

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


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

GTBank 728 x 90


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


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

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

Jaiz bank ads

Top 10 losers for the week

Fidelity ads

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

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

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.

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

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

Coronation ads

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

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


CHAMS PLC down 4.35 to close at N0.22.

READ ALSO: Fintech: CBN issues new license


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. Member of the Chartered Financial Analyst Society. University of Pennsylvania: Power of Markets, IBM Enterprise Design Thinking. You can follow Olumide on twitter @tokunboadesina or email [email protected]

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Market Views

GTBank, Dangote Cement keep Bulls roaring high

Market breadth closed positive as NASCON led 20 Gainers as against 6 Losers topped by NNFM at the end of today’s session.



Nigerian stock market ended its last trading session on an impressive note. The All Share Index gained 0.47% to close at 28,697.06 points as against +0.40% appreciation recorded on Thursday.

Nigerian Stock Exchange market capitalization now stands at N14.99 Trillion. Its Year-to-Date (YTD) returns currently stands at +6.91%.

  • However, the Nigerian bourse trading turnover fell short of expectation as volume moved dipped by 9.11% as against -4.67% downtick recorded on Thursday. ACCESS, GUARANTY, and UBA were the most active to boost market turnover.
  • AFRINSURE leads the list of active stocks that recorded an impressive volume spike at the end of today’s session.
  • Market breadth closed positive as NASCON led 20 Gainers as against 6 Losers topped by NNFM at the end of today’s session – an improved performance when compared with the previous outlook.

Top gainers

  1. NASCON up 10.00% to close at N14.3
  2. PZ up 7.32% to close at N4.4
  3. ZENITHBANK up 1.69% to close at N21
  4. GUARANTY up 1.50% to close at N30.45
  5. DANGCEM up 0.67% to close at N151

Top losers

  1. NNFM down 9.89% to close at N4.19
  2. NPFMCRFBK down 4.29% to close at N1.34
  3. HONYFLOUR down 4.21% to close at N0.91
  4. UNIONDAC down 3.70% to close at N0.26
  5. VITAFOAM down 3.23% to close at N6


GTBank 728 x 90

Nigerian bourse continued its bullish run amid a shutdown of economic activities at Nigeria’s economic nerve center Lagos and Rivers amid ongoing curfew put in place in order to calm hostilities prevalent in some areas.

  • Bulls seem to be rallying high amid soaring crude oil prices, and high buying pressure noticed in some Nigerian blue-chip stocks like Dangote Cement and GTBank.
  • However, Nairametrics expects you to seek the advice of a certified stockbroker when choosing stocks to buy, as some of these stocks exhibit cyclic returns in principle.

Continue Reading

Market Views

#EndSARS Bull return to Nigerian Stock Market amid Looting

The market breadth index was positive with 20 gainers against 10 losers.



investors, Bulls gain momentum, as stimulus package lifts global financial markets, Bulls boost global financial market, gold hits 7 years high, Dangote, Tier-1 banks lead the bulls to close Nigerian stock market green

Nigerian bourse advanced today by 0.40%, to close at 28,563.87 points. The All Share Index was up by 0.40%, with the year-to-date return at +6.39% and market capitalization at N14.92 trillion. Investors gained N59.78 Billion.

  • A total volume of 311.3 million units of shares, valued at N469billion exchanged hands in 3,375deals. GUARANTY was the most traded shares by volume and value at 77.8million units and N2.33billion.
  • The market breadth index was positive with 20 gainers against 10 losers. UACN (+8.33%) led the gainer’s chart today, while GLAXOSMITH (-3.57%) topped the laggards.
  • All sectors were bearish – Insurance, Oil & Gas, Consumer Goods, and Banking were lowered by 0.93%, 0.07%, 0.06%, and 0.03%, respectively save for the Industrial sector index which appreciated by +0.15%.

Top gainers

  1. UACN up 8.33% to close at 8.33%
  2. STANBIC up 2.33% to close at 2.33%
  3. DANGSUGAR up 2.22% to close at N13.8
  4. WAPCO up 2.02% to close at N17.65
  5. MTNN up 1.45% to close at 1.45%

Top losers

  1. GLAXOSMITH down 3.57% to close at N5.4
  2. INTBREW down 2.95% to close at N6.25
  3. CAP down 1.07% to close at N18.5
  4. FBNH down 0.82% to close at N6.05
  5. ZENITHBANK down 0.72% to close at N20.65



Nigerian bourse against all odds recorded impressive gains. The gain was recorded amid, falling crude oil prices, and significant records of looting at a number of Nigerian urban areas triggered by the ongoing political unrest in Nigeria.

  • Buying pressure from NSE30 stocks like MTN Nigeria, Stanbic IBTC Bank, Dangote Sugar, UACN lifted the All Share Index value upward.
    Investors maid the prevailing macro are repositioning their portfolio for Q3 earning results amid a drop in market liquidity at Thursday’s trading session.
  • Nairametrics, still envisage readers to be cautious about choosing stocks to buy, on reports coming from the Lagos Chamber of Commerce and Industry (LCCI) revealing Nigeria had lost more than N700 billion in economic value since the #EndSARS protests started a few weeks ago.

Continue Reading


#EndSARS: NSE lost N113 billion Market Capitalization on Wednesday, October 21

The NSE Market Capitalization shed N113 billion from N14.983 trillion to N14.870 trillion on Wednesday



CEO NSE, NSE lifts suspension on Omatek Ventures’ shares, NSE launches Comic Book to boost financial literacy, NSE goes public with 2.5 billion ordinary shares in unanimous vote by the members, NSE commemorates 2020 International Women’s Day and rings the bell for gender equality, COVID-19: NSE extends time for submission of financial statements, NSE PUBLISHES GUIDANCE TO FACILITATE EFFECTIVE VIRTUAL MEETINGS FOR STAKEHOLDERS AMIDST COVID-19, NSE Hosts First-Ever Digital Closing Gong Ceremony, NSE set to host financial leaders at upcoming webinar, NSE commemorates world investor week 2020

As at close of trading on Wednesday, the NSE Market Capitalization shed N113 billion from N14.983 trillion to N14.870 trillion.

The demand for Equities drastically reduced on the trading floor of the NSE, as the market reacted to the prevailing tensed security situation arising from the hijacked #EndSARS protests in Lagos, resulting in the loss of lives and vandalization of private and public owned properties.

READ: #EndSARS protests dampen market liquidity at Nigerian Stock Market

The lull in the market, undoubtedly, was not unconnected with the disposition of most investors, who rather than investing, showed more concern about the safety of their investments, as well as observing the government’s next line of action in handling the lingering security situation.

The NSE All-Share Index also declined by 0.75% from 28,665.82 points to 28,449.49 points.

GTBank 728 x 90

READ: #EndSARS: Those responsible for human rights violations must be held accountable – Canadian Govt

What they are saying

According to the Director-General of NECA, Mr. Timothy Olawale, “Protest is legal and a fundamentally guaranteed right of Nigerians to draw government’s attention to the need to take drastic action as regards reforms in all areas of our national life. However, it is important that the economy should not be brought to its knees in the process. The economy is in tatters, facing the threat of a second recession and unemployment rising to an unmanageable level, the need to stop the slide is not only urgent, but important. A consequential effect of the hindered capacity of businesses to function is the higher unemployment rate, further reduction in disposable income of those left in employment, heightened insecurity with the risk of hoodlums hijacking the peaceful protest among others.

READ: #EndSARS Protest has cost Nigeria N700 billion in 12 days – LCCI 

GTBank 728 x 90

The Lagos Chamber of Commerce and Industry (LCCI) estimated that the protests has cost the economy over N700 billion (about $1.8bn in losses). According to the President of LCCI, Mrs. Toki Mabogunje, her group was concerned about the negative impact of the development on business activities and said, “These actions have been at great cost to the economy and the welfare of Nigerian citizens. It should be noted that our economy is still reeling from the shocks of the COVID-19 pandemic and struggling to recover from its devastating effects.

Explore Data on the Nairametrics Research Website

Continue Reading
ikeja electric
FCMB ads
Fidelity ads
first bank
Stallion ads
financial calculator
deals book