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Markets

Dangote, GTBank, Unilever, Okomu Oil drive the bullish train with N136 billion

Transactions on the equities side continued the upbeat trend today, causing the All-Share Index (ASI) to rise further by 1.09 per cent to close at 24,202.87 index points.

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Value of shares traded by top 10 stockbrokers up 133% despite COVID-19, investors, Raging Bulls lift Brent Crude price by 10%

Nigeria’s stock market on Tuesday sustained interest in most high cap stocks. Transactions on the equities side continued the upbeat trend today, causing the All-Share Index (ASI) to rise further by 1.09 per cent to close at 24,202.87 index points. Also, overall market capitalization gained N136 billion to close at N12.441trillion.

  • The upward trend was impacted by gains recorded in large and medium capitalised stocks, amongst which were: Dangote Cement, Guaranty Trust Bank, Okomu Oil and Unilever.
  • Consequently, market breadth closed positive, recording 29 gainers against 8 losers. Okomu Oil recorded the highest price gain of 9.99 per cent to close at N64.40 per share.
  • The total volume of trades increased by 2.65 per cent to 339.75 million units, valued at N3.92 billion and exchanged in 3,573 deals.
  • The most active stock by volume was Access Bank (80.6m units), while Guaranty Trust Bank (N971.9bn) led the value chart.
  • All the sectors under our coverage recorded gains. Notably, the Banking sector (+2.08%) topped the list, with FIDELITYBK (+5.2%) and GUARANTY (+2.42%) gaining. The Industrial (+0.78%) and Insurance sectors (+0.41%) followed suit, on the back of gains recorded in DANGCEM (+2.79%) and AIICO (+5.6%).
  • In the Consumer goods (+0.33%) and Energy sectors (+0.24%), UNILEVER (+9.85%) and OANDO (+1.89%) drove the gains, respectively.

READ ALSO: U.S dollar drops against major currencies, tension rises between America and China

Top gainers

OKOMUOIL up 9.99% to close at N64.4; UNILEVER up 9.85% to close at N15.05; PRESCO up 3.62% to close at N41.5; DANGCEM up 2.79% to close at N147.5; GUARANTY up 2.42% to close at N23.3.

 

GTBank 728 x 90

Top Losers

LASACO down 8.00% to close at N0.23; NAHCO down 4.51% to close at N2.33; INTBREW down 3.00% to close at N4.85; WAPCO down 0.44% to close at N11.3, and FIDSON down 0.32% to close at N3.1.

READ MORE: Why Forex trading is becoming popular in Nigeria 

Outlook

The positive sentiment in Nigeria’s stock market came as crude oil prices sustained recovery, with the gradual return of normal life after months of lockdowns, which initially changed the demand pattern for crude oil.

Nairametics expects this bullish trend to continue short term in the face of profit-taking, price adjustment, qualification dates and positioning as players react to impressive corporate earnings and dividend payouts.

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Olumide Adesina is a French-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment Trading. A member of the Chartered Financial Analyst Society. Financial Market; Yale University, Behavioral Finance; Duke University. You can follow Olumide on twitter @tokunboadesina or email [email protected]

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Stock Market

GUINNESS, NB, SEPLAT, AIRTEL, UNILEVER record impressive gains, investors gain N82.46 billion WoW

This was partly triggered by soaring crude oil prices despite the resurgence of the COVID-19 pandemic.

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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 ended the week cumulatively on a bullish note. The NSE All-Share Index and Market Capitalization both appreciated by 0.63% to close the week at 25,199.84 points and N13.146 trillion respectively. Investors gained N82.46 billion WoW.

A total turnover of 1.327 billion shares worth N13.934 billion in 19,392 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1.065 billion shares valued at N10.798 billion that exchanged hands last week in 20,482 deals.

The Financial Services industry (measured by volume) led the activity chart with 886.545 million shares valued at N8.360 billion traded in 10,161 deals; thus contributing 66.79% and 60.00% to the total equity turnover volume and value respectively.

The Conglomerates industry followed with 155.956 million shares worth N187.728 million in 828 deals. In third place was the Consumer Goods industry, with a turnover of 141.099 million shares worth N2.229 billion in 3,403 deals.

Trading in the top three equities – Guaranty Trust Bank Plc, Transnational Corporation of Nigeria Plc and Zenith Bank Plc. (measured by volume) accounted for 419.455 million shares worth N6.079 billion in 3,854 deals, contributing 31.60% and 43.63% to the total equity turnover volume and value respectively.

GTBank 728 x 90

Twenty-nine (29) equities appreciated at price during the week, lower than Forty-one (41) equities in the previous week.

Thirty-three (33) equities depreciated in price, higher than Eighteen (18) equities in the previous week, while one hundred and one (101) equities remained unchanged, lower than one hundred and four (104) equities recorded in the previous week

Top gainers

  • CADBURY NIGERIA PLC. up 12.88% to close at N7.45
  • NIGERIAN BREW. PLC. up 12.5% to close at N36.00
  • UNILEVER NIGERIA PLC. up 11.61% to close at N12.50
  • C & I LEASING PLC. up 10.00% to close at N4.40
  • SEPLAT PETROLEUM DEVELOPMENT COMPANY PLC up 10.00% to close at N385.00
  • GUINNESS NIG PLC up 9.22% to close at N15.40
  • AIRTEL AFRICA PLC up 9.20% to close at N380.00
  • LASACO ASSURANCE PLC. up 8.33% to close at N0.26
  • FIDSON HEALTHCARE PLC up 8.19% to close at N3.70
  • PRESCO PLC up 7.29% to close at N51.50

Top 10 losers

  • CHAMPION BREW. PLC. down 25.26% to close at N0.71
  • IKEJA HOTEL PLC down 25.00% to close at N0.84
  • CORNERSTONE INSURANCE PLC down 10.91% to close at N0.49
  • N NIG. FLOUR MILLS PLC. down 10.00% to close at N3.87
  • CONSOLIDATED HALLMARK INSURANCE PLCdown 9.76% to close at N0.37
  • HONEYWELL FLOUR MILL PLC down 9.52% to close at N0.95
  • INTERNATIONAL BREWERIES PLC. down 9.52% to close at N2.85
  • ARBICO PLC. down 9.35% to close at N1.26
  • ACADEMY PRESS PLC. down 9.09% to close at N0.30
  • UNITY BANK PLC down 8.47% to close at N0.54

Outlook

Nigerian bourse ended the week cumulatively on a positive note as bluechip stocks like GUINNESS, NB, SEPLAT, AIRTEL, UNILEVER recorded an impressive gain.

This was partly triggered by soaring crude oil prices despite the resurgence of the COVID-19 pandemic and rising unemployment data recently released.

Nairametrics encourages you to seek the advice of a certified financial advisor, in setting up your stock portfolio.

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Cryptocurrency

Investors cashing in big time, as 95% BTC wallets are currently in profit

95% of Bitcoin wallets are currently in a state of profit.

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blockchain technology, Bitcoin giving better returns than the Nigerian stock market, What it will take Bitcoin to hit $100,000?

Most BTC wallets containing Bitcoin are cashing in big time, as reports seen on Glassnode’s Twitter feed showed most Bitcoin wallets in a state of profit.

According to Glassnode, 75% of Bitcoin wallets are currently profitable.

Extended periods at this level and above are characteristic of bull runs as BTC moves towards new all-time highs.

How easy is tracking BTCs? It should be noted that Bitcoin is not really anonymous because all BTC transactions are kept permanently and publicly on the blockchain or ledger system, so it’s very easy for anyone to see the transactions and balances of any BTC address.

GTBank 728 x 90

Chainalysis researchers recently explained in detail that as the rush for BTCs keeps increasing, the price will most definitely be affected. The report said:

“With more people looking to trade BTCs, which is only becoming scarcer following the recent halving, bitcoin moving from the investment bucket into the trading bucket could become a crucial source of liquidity

However, one would expect this will only happen if bitcoin’s price rises to a level at which long-term investors are willing to sell,”

The report claims the “Hodler net position change,” which provides an aggregate of long-term wallet holder behavior, has been positive on 154 of the first 170 days of 2020.

Glassnode data shows Hodlers have made a net increase of 233,000 BTC to their positions since the start of the year.

In the meantime, BTC remained confidently above $11, 000 throughout this week. Also, Bitcoin’s on-chain fundamentals point to the beginning of a potential bull market, though external market forces could still impact this possibility.

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Stock Market

MTN, CADBURY, UNILEVER record losses, ASI down by 0.15%

The market capitalization presently stands at N13.146 trillion.

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Nigerian stock market closed today on a bearish note. The All Share Index dropped by -0.15% to close at 25,199.84 basis points as against +0.38% appreciation recorded previously.

Its Year-to-Date (YTD) returns currently stands at -6.12%. The market capitalization presently stands at N13.146 trillion.

Nigerian bourse trading turnover closed positive as volume moved up by +86.96% as against +25.97% uptick recorded in the previous session. WAPIC, UNILEVER, and ZENITHBANK were the most active to boost market turnover.

WAPIC leads the list of active stocks that recorded an impressive volume spike at the end of today’s session.

Market breadth closed negative as CILEASING led 11 Gainers as against 23 Losers topped by NNFM at the end of today’s session – an unimproved performance when compared with the previous outlook.

GTBank 728 x 90

READ MORE: Uber partners Unilever to ensure compliance to health guidelines

Top gainers

  • CILEASING up 10.00% to close at N4.4
  • FIDSON up  4.82% to close at N3.7
  • REDSTAREX up  2.74% to close at N3.75
  • AFRIPRUD N4.30.1 2.33% to close at N4.4
  • BUACEMENT up  0.78% to close at N38.9

Top losers

  • NNFM down 10.00% to close at N3.87
  • CAP down 5.03% to close at N17
  • CADBURY down 3.87% to close at N7.45
  • UNILEVER down 3.85% to close at N12.5
  • MTNN down 0.42% to close at N119

READ: Gains from Nigerian pharmaceutical stocks curb the bearish trend 

Outlook

Nigerian bourse closed its last trading session for the week on a bearish, despite improved market liquidity printed at today’s trading session. Narametrics envisages you seek the advice of a certified financial advisor, when buying stocks.

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