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The week investors stayed on the sidelines at Nigeria’s stock market

All-Share Index and Market Capitalization both depreciated by 0.72% to close the week at 23,871.33 and N12.441 trillion respectively.

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Nigerian stock market’s All-Share Index and Market Capitalization both depreciated by 0.72% to close the week at 23,871.33 and N12.441 trillion respectively.

A total turnover of 926.418 million shares worth N9.768 billion in 20,910 deals were traded this week by investors on the floor of the Exchange, in contrast to a total of 1.662 billion shares valued at N18.205 billion that exchanged hands last week in 28,791 deals.

The Financial Services industry (measured by volume) led the activity chart, with 676.072 million shares valued at N5.053 billion traded in 10,753 deals; thus contributing 72.98% and 51.73% to the total equity turnover volume and value respectively.

The Conglomerates industry followed with 71.117 million shares worth N399.502 million in 445 deals. The third place went to the Consumer Goods industry, with a turnover of 48.835 million shares worth N1.569 billion in 3,497 deals.

READ MORE: Nestle hits N1,000 for first time since March Covid-19 lock-down

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Trading in the top three equities namely, FBN Holdings Plc, Guaranty Trust Bank and Zenith Bank Plc (measured by volume) accounted for 335.075 million shares worth N4.061 billion in 4,885 deals, contributing 36.17% and 41.58% to the total equity turnover volume and value respectively.

All other indices finished lower with the exception of NSE Main Board, NSE CG, NSE Pension, NSE ASeM, NSE AFR Bank Value, NSE Meri Growth, NSE Consumer Goods and NSE Oil/Gas which appreciated by 1.29%, 1.52%, 0.74%, 0.36%, 1.65%, 4.76%, 2.25% and 1.56 respectively.

32 equities appreciated in price during the week, lower than 39 equities in the previous week. 28 equities depreciated in price, higher than 22 equities in the previous week, while 103 equities remained unchanged, higher than 102 equities recorded in the preceding week.

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READ MORE: Stanbic IBTC releases FY 2019 unaudited results 

Top 10 gainers for the week

NPF MICROFINANCE BANK PLC up 50.85% to close at N1.78.

UNILEVER NIGERIA PLC. up 20.95% to close at N12.70.

MAY & BAKER NIGERIA PLC. up 20.9% 3 to close at N3.12.

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MCNICHOLS PLC up 19.05% to close at N0.50.

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ETERNA PLC. up 18.52% to close at N2.56.

FIDSON HEALTHCARE PLC up 14.92% to close at N2.85.

GLAXO SMITHKLINE CONSUMER NIG. PLC. up 13.39% to close at N6.35.

STANBIC IBTC HOLDINGS PLC up 12.81% to close at N32.15.

PHARMACEUTICALS PLC up 12.50% to close at N0.72.

11 PLC up 9.94% to close at N176.90.

READ ALSO: Atedo Peterside shares throwback picture of pioneer Stanbic IBTC staff members

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Top 10 Losers for the week

UACN PROPERTY DEVELOPMENT COMPANY.

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PLC down 13.04% to close at N0.80.

CAP PLC down 9.83% to close at N20.65.

ARBICO PLC. down 9.73% to close at N2.32.

CUSTODIAN INVESTMENT PLC down 9.52% to close at N5.70.

AFROMEDIA PLC down 8.82% to close at N0.31.

UNION BANK NIG. PLC down 8.57% to close at N6.40.

HONEYWELL FLOUR MILL PLC down 8.41% to close at N0.98.

NEM INSURANCE PLC down 7.41% to close at N2.00.

LINKAGE ASSURANCE PLC down 6.82% to close at N0.41.

CHAMPION BREW. PLC down 6.1% to close at N0.76.

READ ALSO: mCash transactions hit N88.56 billion one year after re-launch – NBS  

Outlook

Nigeria’s stock market recorded its lowest weekly traded value and volume in 2020. While last week recorded a rebound in activities as more PFA and offshore equity dealings trickled in, this week has been characterized by cautious dealings by both retail and institutional clients. This has been the most dampened trading week of the year.

Nairametrics envisages cautious buying of Nigerian stocks at these periods, as many local investors remain on the sidelines.

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]

1 Comment

1 Comment

  1. Boye Moboye

    May 17, 2020 at 12:58 pm

    Your analysis is very detailed and insightful!. Kudos to you!

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Business

BREAKING: Suspected hoodlums looting Palms Mall, Shoprite in Ilorin

Hoodlums have invaded Palms Mall and Shoprite in Ilorin, looting stores and carting away items.

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Some suspected hoodlums are allegedly looting the Palms Mall on Fate road, Ilorin, Kwara State capital. The mall hosts stores of Shoprite, and Lifemate Furniture among other stores including Mobile phones retailers.

This was revealed by findings conducted by a Nairametrics analyst who is presently in Ilorin.

He said, “They allegedly stole iPhone 11 mobile sets, other mobile sets brands, Refrigerators, and households items among others.”

According to the analyst, the suspected hoodlums forced their way into the Mall after they have stormed and allegedly looted Kwara Agro Hall, an agro resettlement centre, where they carted away Aluminium roofing sheets, mattresses, bags of cement and bags of flour among others.

Details soon …

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ENDSARS

#EndSARS: Coca-Cola donates N20 million to cover medical bills of victims

Coca-Cola Nigeria has made a donation of N20 million to cover the medical bills of victims of #EndSARS protests.

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Coca Cola, Eco-friendly, production, NBC, Nigerian Bottling Company limited, Wall Street, Profit, Forecast

Coca-Cola Nigeria says it has made a donation of N20 million to cover the medical costs of victims of the #EndSARS protests in hospitals.

The Company announced this in a statement on Friday evening saying, “Every human life matters and as a company, our goal is to continue to work with our communities towards the wellbeing of the people.”

The Lekki tollgate shootings has gathered international attention after videos of alleged Nigerian soldiers shooting into a crowd of unarmed protesters went viral on Tuesday.

Amnesty International reported  that the Nigerian army and police killed at least 12 peaceful protesters on Tuesday at two locations in Lagos.

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Coca-Cola Nigeria said the donation would be supplied in partnership with Whitefield Foundation, its NGO partner “providing support for the injured and those in critical condition. The events of the past few days have scarred us all. We are deeply saddened by the needless loss of lives during the #EndSARS protests . Our heart goes out to the families of the fallen and injured, as a result of the recent violence that ensued during the peaceful #ENDSARS protests. While we strive towards a greater tomorrow for this Nation.

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ENDSARS

BREAKING: Lagos to support owners of looted, vandalised stores

Lagos State Government is set to support the owners of stores that were looted this week.

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Lagos State Government challenges tech startups at Art of Technology 

Lagos State Government is set to support the owners of stores that were looted this week when the #EndSARS protests were hijacked by hoodlums.

This was disclosed by the state Deputy Governor, Dr Obafemi Hamzat, via his Twitter handle on Friday evening.

He tweeted, “If you are a Lagos based business and your store got looted/vandalized this week, please fill this form by @LSETFhttps://t.co/lwPiXvFzTp. Lets do what we can to support you.”

 

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Details soon …

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