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Stock Market

Royal Rumble at first trading week of Q3 2020, ASI down 1.99% WoW

Trading in the top three equities accounted for 275.099 million shares worth N2.818 billion in 3,497 deals.

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Nigerian Stock Exchange

The Nigerian stock market ended the week on a bearish note, as the All Share Index (ASI) and Market Capitalization both depreciated by 1.99% to close the week at 24,336.12 and N12.695 trillion respectively.

A total turnover of 961.833 million shares worth N9.181 billion in 20,058 deals were traded this week by investors on the floor of the Exchange, in contrast to a total of 739.375 million shares valued at N8.563 billion that exchanged hands last week in 17,248 deals.

The Financial Services industry (measured by volume) led the activity chart, with 618.714 million shares valued at N4.338 billion traded in 9,669 deals, thus contributing 64.33% and 47.25% to the total equity turnover volume and value respectively.

READ MORE: Nigerian stock market on a flawless bullish run, crude oil boost triggers rally

The Consumer Goods industry followed with 91.119 million shares worth N2.227 billion in 3,703 deals. In the third place was the Conglomerates industry, with a turnover of 60.640 million shares worth N62.779 million in 556 deals.

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Trading in the top three equities namely FBN Holdings Plc, Guaranty Trust Bank Plc, and United Bank for Africa Plc (measured by volume) accounted for 275.099 million shares worth N2.818 billion in 3,497 deals, contributing 28.60% and 30.69% to the total equity turnover volume and value respectively.

13 equities appreciated in price during the week, lower than 18 equities in the previous week. 59 equities depreciated in price, higher than 43 equities in the previous week, while 91 equities remained unchanged, lower than 102 equities recorded in the previous week.

READ ALSO: 5 Consumer stocks you should consider for your portfolio 

Top gainers

OKOMU OIL PALM PLC. up 20.94% to close at N77.40

ROYAL EXCHANGE PLC. up 13.04% to close at N0.26

PRESTIGE ASSURANCE PLC up 10.64% to close at N0.52

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NEIMETH INTERNATIONAL PHARMACEUTICALS PLC up 9.49% to close at N1.50

ACADEMY PRESS PLC. Up 0.30 0.02 to close at 6.67% N0.32

VITAFOAM NIG PLC. up 5.30 0.29 to close at 5.47% N5.59

REGENCY ASSURANCE PLC up 5.00% to close at N0.21

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NESTLE NIGERIA PLC. up 4.73% to close at N1256.80

WAPIC INSURANCE PLC up 3.13% to close at N0.33

NEM INSURANCE PLC up 2.50% to close at N2.05

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Top Losers

NIGERIAN AVIATION HANDLING COMPANY Plc. down 24.24% to close at N2.00

LEARN AFRICA Plc. down 21.48% to close at 1.06

UNILEVER NIGERIA Plc. down 18.82% to close at N13.80

GLAXO SMITHKLINE CONSUMER NIG. PLC. down to close at N4.95

UNION BANK NIG. Plc. down 15.08% 6.30 -0.95 -to close at N5.35

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NASCON ALLIED INDUSTRIES PLC down 13.79% to close at N10.00

AIICO INSURANCE PLC. down 13.13% to close at N0.86

JAPAUL OIL & MARITIME SERVICES PLC down 12.00% to close at N0.22

STERLING BANK PLC. down 10.85% to close at N1.15

ARDOVA PLC down 10.73% to close at N11.65

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

AIRTEL, SEPLAT, GUINNESS record impressive gains, investors gain N134.5 billion

Market breadth closed positive as SEPLAT led 18 Gainers as against 10 Losers topped by CHAMPION

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Nigerian Stock Exchange

Nigerian Stock market ended Wednesday’s trading session on an impressive note.

The All Share Index gained 1.04% to close at 25,141.48 basis points as against -0.58% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -6.34%. Investors gained N134.5 billion.

Trading turnover, however, closed negative as volume moved plunged by -0.84% as against +17.84% gain recorded on Tuesday. GUARANTY, ACCESS, and ZENITHBANK were the most active to boost market turnover.

Market breadth closed positive as SEPLAT led 18 Gainers as against 10 Losers topped by CHAMPION at the end of today’s session – an improved performance when compared with the previous outlook.

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

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Top gainers

  • SEPLAT up 10.00% to close at N385
  • AIRTELAFRI up 9.20% to close at N380
  • PRESCO up 7.29% to close at N51.5
  • GUINNESS up 6.21% to close at N15.4
  • OKOMUOIL up 3.90% to close at N80

Top losers

  • CHAMPION down 9.30% to close at N0.78
  • ACCESS down 2.29% to close at N6.4
  • BUACEMENT down 0.64% to close at N38.7
  • ETI down 1.20%to close at N4.1
  • ZENITHBANK down 0.59% to close at N16.75

 

Outlook

Nigerian bourse rallied up on Wednesday as blue-chip stocks that include GUINNESS, AIRTELAFRI, turned the All-Share index green, coupled with soaring crude oil prices triggered oil stocks like SEPLAT to appreciate in value. Nairametrics envisages you seek the advise of a certified financial advisor on buying stocks.

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Stock Market

U.S Stocks set to surge higher, on hopes of a stimulus package deal

The massive price increase in recent weeks has lured many speculators into profit-taking.

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U.S Stocks set to surge higher, on hopes of a stimulus package deal

U.S stocks seem set to surge higher, rebounding after Tuesday’s trading losses as stock traders still remain optimistic about a stimulus package from U.S Congress.

Checks by Nairametrics revealed that the US 500 Stock Futures was up 0.7%. Also, the Dow Jones Index Futures contract gained by 0.9%, just as the Nasdaq 100 Futures rose by 0.9% as at the time this report was drafted.

At the close of Tuesday’s trading session, the Dow Jones Industrial Average lost 0.4%. Also, the S&P 500 index lost 0.8%, registering its first decline in eight sessions, even as the NASDAQ Composite index lost 1.7%.

Although negotiations between the Democrats and Republicans in Washington DC are currently on hold, most stock traders remain hopeful and expect Congress to find a compromise.

READ ALSO: XRP plunges more than 10%, biggest daily percentage drop since March 12

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In the meantime, investors have been mindful of the increasing tensions between the US and China. So far, Beijing has refrained from tough countermeasures and struck a more conciliatory note.

As investors increase their bets in risker assets like equities Milan Cutkovic, Market Analyst at AxiCorp in a note told Nairametrics, why stock traders seems to be bullish. He said;

While equity markets have remained relatively stable, volatility in precious metals has increased sharply. Gold has lost more than $200 in value since Friday and remains under pressure.

READ ALSO: NLC hastens House of Reps to criminalise casualization of workers

The massive price increase in recent weeks has lured many speculators into profit-taking.

Furthermore, stock markets are rising again, decreasing the demand for safe havens, while the US Dollar is recovering from its recent sell-off.

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Quick fact: The NYSE, commonly referred to as the New York Stock Exchange, is the biggest stock exchange in the world, with a market capitalization of over $25 trillion as of April 2020. It is followed by the following top three exchanges – the NASDAQ, London Stock Exchange, and the Tokyo Stock Exchange. Interestingly, their combined market capitalization size is still lower than that of the NYSE.

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Stock Market

DANGOTE CEMENT, GUINNESS drops lower, as investors lose N75.07 billion

Nigerian bourse recorded its second trading loss for the week.

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The Nigerian Stock Exchange on Tuesday closed bearish. The All Share Index dropped by 0.58% to close at 24,883.70 basis points as against -0.06% drop recorded on Monday.

Its Year-to-Date (YTD) returns currently stands at -7.30%. Nigerian bourse’s market capitalization presently stands at N12,981 trillion. Investors’ losses recorded today stood at N75.07 billion.

Trading volume turnover closed positive as volume moved up by +17.84% as against +4.90% uptick recorded in the previous session. ACCESS, FIDELITYBK, and GUARANTY were the most active to boost market turnover.

Market breadth closed negative as CADBURY led 16 Gainers as against 17 Losers topped by PRESTIGE.

READ: How Nike rejection birthed sportswear industry in Nigeria

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Top gainers

  • CADBURY up 6.82% to close at N7.05
  • NB up 6.25% to close at N34
  • ARDOVA up 4.94% to close at N12.75
  • VALUEFUND up 1.37% to close at N115.05
  • GUARANTY up 1.02% to close at N24.8

Top losers

  • IKEJAHOTEL down 9.82% to close at N1.01
  • MANSARD down 8.23% to close at N1.45
  • DANGCEM down 4.09% to close at N136
  • GUINNESS down 3.33% to close at N14.5
  • UCAP down 3.09% to close at N3.14

Outlook

Nigerian bourse recorded its second trading loss for the week, triggered by high selling pressures notable in DANGCEM and GUINNESS.

Nairametrics, however, recommend you seek the counsel of a certified financial advisor when buying stocks.

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