Stock Market
Top banks’ stocks plunge, as bears overwhelms Nigerian tier-2 banks’ rally
UBA was the most traded stock by volume at 23.9million units, followed by FBNH.
The Nigerian Stock market ended Thursday’s trading session on a bearish note as investors continued to price in the risk of increasing cases of COVID-19. Altogether, investors lost N115.07 billion
The Nigerian Stock Exchange (NSE) All-Share Index plunged by 0.90% to 24,374.40 points at the close of the trading session from the preceding day high of 24,594.99 points. Consequently, the value of listed stocks on the Nigerian stock market reduced from N12.830trillion to N12.715trillion.
Although the volume of shares traded fell slightly by 9.03% to 180.12 million units, value traded improved by 78.25% to N1.84billion as 3,889 deals exchanged hands.
UBA was the most traded stock by volume at 23.9million units, followed by FBNH, with 21.5 million units of trades.
Market sentiment, as measured by market breadth, was negative as 26 tickers declined, relative to 7 gainers. UNILEVER and CADBURY were the top losers of the day with 9.80%and 8.78% declines, while NEIMETH and JAIZBANK recorded the largest gains with 9.40% and 7.27% appreciation in share value.
On the sectoral breakdown, bearish sentiment characterized the sectors. We highlight sell-offs in Tier-1 banking stocks like, ZENITH (-5.73%), GUARANTY (-5.26%) and ETI (-3.03%), which placed the Lender’s index as the worst performer, fell by 4.58%.
READ MORE: High sell-offs from BUACEMENT, CADBURY, WAPCO, investors lose N198.05 billion
The Insurance index trailed to slump by 1.02%, as a result of a decline in CORNERSTONE (-9.09%) and AIICO (-1.11%), the Consumer Goods followed with 0.93% depreciation as UNILEVER, CADBURY and FLOUR MILL shed -9.80%; -8.78% and -5.36% respectively.
Finally, price declines in OANDO and WAPCO close the Oil and Gas and Industrial Goods Indexes distantly by -0.30% and -0.02%.
Top gainers
NEIMETH up 9.40% to close at N1.63, JAIZBANK up 7.27% to close at N0.59, UNITYBNK up 6.38% to close at N0.5, NAHCO up 5.53% to close at N2.1, REDSTAREX up 4.76% to close at N3.3
Top Losers
UNILEVER down 9.80% to close at N13.8, CADBURY down 8.78% to close at N6.75, ZENITHBANK down 5.73% to close at N14.8, FLOURMILL down 5.36% to close at N17.65, GUARANTY down 5.26% to close at N20.7
Outlook
Nigeria bourse intensified its bearish trend on Thursday, as top tier-1 bank stock price plunged amidst thin market liquidity observed in the Nigerian bourse trading session. Nairametrics envisages cautious buying as many investors still remain on the sideline
Stock Market
NASD OTC market capitalization hits N538.12 billion, as investors gain N9.22 billion
On a weekly basis, the NSI gained 1.74% from 720.02 points last week to 732.57 points this week.
The market capitalization of NASD OTC Securities Exchange Market, gained about N9.22 billion in value, from N528.90 billion recorded in the previous week to N538.12 billion at the close of trading session, Friday September 25, 2020.
The index closed on a positive note YTD, gaining 5.02%, as the market recorded an increase in performance.
On a weekly basis, the NSI gained 1.74% from 720.02 points last week to 732.57 points this week.
The improved performance of the NSI over the week is partly attributable to the impressive performance of UBN Properties Plc, both in terms of trade volume and trade value.
There was an appreciation of the share price of Central Securities Clearing System Plc, which leaped by 9.63% from N13.5 in the previous week to N14.8 this week. CSCS Plc, currently holds a Market Capitalization of ₦74 Billion.
Source: NASD OTC Market report
In terms of Week-on-Week basis, mixed results were recorded, as the total value traded declined by -75.99%, from N108.40 million to N26.03 million in the period under review.
But trade volume appreciated by 275.69%, from about 3,246,505 units to 12,196,894 units. On a Year To Date (YTD) basis, a total of 7,838,995,186 units have been traded so far for the year.
Top traded securities by Value
In the top five position, UBN Properties Plc led the chart with N12.6 million, in terms of the trade value for the week, followed by NIPCO Plc with N8.13 million, Niger Delta Exploration and Production Plc with N1.91 million, WAMCO Plc with approximately N1.80 million, and Food Concept with N1.35 million
The summary of the top five securities by value is depicted in the chart below.
Source: Nairametrics’ computation
Top traded Securities by volume
UBN Properties Plc also led the chart, registering 10,000,000 units, followed by Food Concept Plc with 2,000,000 units. Also, in the top five position is NIPCO Plc with 125,091 units, while Afriland Plc recorded 23,650 units. Geo-Fluids Plc made it to the elite list with 15,000 units.
In summary, the chart below shows the top five securities in terms of volume.
Key Highlights
- Total volume traded Year-to-Date stands at 7,838,995,186 units in 1171 deals.
- Total Value traded is ₦10,881,948,526.39.
- Market capitalization current stands at N538.12 billion
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Stock Market
Nigerian Breweries remain Investors delight W/W
Twenty-eight (28) equities depreciated in price, lower than thirty-one (31) equities in the previous week.
Nigerian Stock Market against headwinds printed bullish this week cumulatively.
The NSE All-Share Index and Market Capitalization appreciated by 2.92% to close the week at 26,319.34 and N13.755 trillion respectively.
A total turnover of 1.567 billion shares worth N20.559 billion in 18,396 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1.139 billion shares valued at N12.692 billion that exchanged hands last week in 17,109 deals.
Explore the Nairametrics Research Website for Economic and Financial Data
- The Financial Services industry (measured by volume) led the activity chart with 1.178 billion shares valued at N9.180 billion traded in 9,900 deals; thus contributing 75.14% and 44.65% to the total equity turnover volume and value respectively.
- The Consumer Goods Industry followed with 90.002 million shares worth N1.688 billion in 2,715 deals. The third place was the ICT industry, with a turnover of 84.667 million shares worth N5.786 billion in 771 deals.
- Trading in the top three equities namely Sterling Bank, FBN Holdings Plc, and Zenith Bank Plc.(measured by volume) accounted for 612.805 million shares worth N4.311 billion in 3,739 deals, contributing 39.10% and 20.97% to the total equity turnover volume and value respectively.
- Thirty-five (35) equities appreciated at price during the week, higher than thirty-two (32) equities in the previous week.
- Twenty-eight (28) equities depreciated in price, lower than thirty-one (31)equities in the previous week, while one hundred (100) equities remained unchanged, same as one hundred (100) equities recorded in the previous week.
Top gainers
NIGERIAN BREW. PLC. up 25.12% to close at N52.55
CORNERSTONE INSURANCE PLC up16.39% to close at N0.71
LAFARGE AFRICA PLC. up 15.77% to close at N15.05
CONSOLIDATED HALLMARK INSURANCE PLC up 9.68% to close at N0.34
TRANS-NATIONWIDE EXPRESS PLC. up 9.33% to close at N0.82
INTERNATIONAL BREWERIES PLC. up 9.09% to close at N3.60
PRESTIGE ASSURANCE PLC up 9.09% to close at N0.60
FLOUR MILLS NIG. PLC. up 8.59% to close at N21.50
PRESCO PLC up 8.16% to close at N53.00
LASACO ASSURANCE PLC. up 8.00% to close at N0.27
READ: Flour Mills to issue bond within 2 months as it takes advantage of market rate
Top Losers
AIICO INSURANCE PLC. down 20.00% to close at N0.72
RED STAR EXPRESS PLC down 16.90% to close at N3.00
OANDO PLC down 11.74% to close at N2.03
N NIG. FLOUR MILLS PLC. down 10.00% to close at N4.05
CHAMPION BREW. PLC. down 10.00% to close at N0.81
UNIVERSITY PRESS PLC. down 9.55% to close at N1.42
DAAR COMMUNICATIONS PLC down 9.09% to close at N0.30
WAPIC INSURANCE PLC down 8.11% to close at N0.34
LINKAGE ASSURANCE PLC down 7.32% to close at N0.38
ROYAL EXCHANGE PLC. down 6.90% to close at N0.27
READ: NSE’s market capitalization rises to N13.2 trillion, as investors gain N46 billion
Outlook
Surprisingly, the Nigerian bourse against all prevailing macros printed impressive gains, as Investors cashed in with over N390 billion WoW. Buying pressures notably from Nigerian Breweries, Flour mills, Lafarge lifted, investors morale across the market spectrum
- In spite of falling crude oil prices and prevailing dollar scarcity, Nairametrics observed significant Institutional buying in some notable blue-chip stocks, as Investors re-align their stock portfolios ahead of Q4,2020
- That said, the surprising interest rate reduction of 100 basis points by Nigeria’s central bank this week, could partly be responsible for the lukewarm performance of Nigerian banking stocks this week, as no Nigerian banking stock made the top ten gainers list, on the bias that interest rates play a very important role in their profit margins in the mid-term
- However, in spite of the bullish run recorded in the fast-growing equity market, Nairametrics, envisage cautious buying, as market liquidity remain relatively weak overall.
Stock Market
Nigerian Stocks fire up on all cylinders, investors gain N173.62 billion
The All Share Index (ASI) gained by 1.28% to close the week at 13,754.87 points.
Nigerian bourse continued its bullish momentum on Friday as investors maintained buying pressures on major bellwether stocks.
The All Share Index (ASI) gained by 1.28% to close the week at 13,754.87 points. Investors gained N173.62 billion to close market capitalization at N13.754 trillion, thus reducing the YTD loss to -2.64%.
- A total volume of 335 million units of shares, valued at N4.27billion exchanged hands in 4,231 deals
- STERLNBANK was the most traded shares by volume at 79.5million units while ZENITHBK topped by value at N878.6million.
- Investor sentiment as measured by market breadth was positive as 22 stocks advanced against 17 decliners. NB (+9.82%) led the gainer’s chart to close the week, while NNFM (-10.00%) finished the top loser.
- Sector Performance was broadly bullish as four indexes closed in green.
- NSE Consumer Goods Index: Up by 2.45%, on price appreciation in NB (9.82%), PRESCO (+7.07%), and FLOURMILL (6.70%)
- NSE Banking Index: Improved by 2.01%, buoyed by GUARANTY (+3.85%), STANBIC (+3.58%), and ACCESSBK (+2.29%).
- NSE Industrial Index: Gained 1.58%, on WAPCO (+6.74%) and DANGCEM (+2.28%).
- NSE Insurance Index: Appreciated by 0.44%, saved by CORNERST (+9.23%).
- NSE Oil & Gas Index: Down by -0.51%, on OANDO (-9.78%).
Top gainers
- NB up 9.82% to close at N52.55
- PRESCO up 7.07% to close at N53
- FLOURMILL up 6.70% to close at N21.5
- STANBIC up 3.58% to close at N40.5
- DANGCEM up 2.28% to close at N139
Top Losers
- NNFM down 10.00% to close at N4.05
- OANDO down 9.78% to close at N2.03
- CADBURY down 5.41% to close at N7
- UACN down 3.17% to close at N6.1
- DANGSUGAR down 1.60% to close at N12.3
Outlook
Nigerian bourse continued its bullish run at the last trading session for the week amid falling prices, a strong dollar, and rising COVID-19 caseloads.
- Buying pressures in NSE30 Stocks that include Nigerian Breweries, Dangote Cement, Stanbic, and Flourmills kept Investors smiling to the bank
- Nairametrics envisage cautious buying in spite of high buying pressures lately, as market liquidity remains a growing concern.
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