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Stock Market

Stocks close flat despite buying pressures from ECOBANK, GTBANK

GUARANTY finished the most traded stock by value at N534.4 million.  

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gtbank, stock market, Bulls dominate Nigerian bourse ASI up 0.74%, Investors gain N77 billion., Crude oil bulls lose steam, as COVID-19 cases hit record high

Nigerian bourse on Thursday closed near flat as the All Share Index dropped slightly by 0.01% to 24,276.56 index points. Consequently, YTD performance presently stands at -9.46%. 

Activity level reversed its previous increase as total volumes and values exchanged declined by 19.76% and 49.05% to 186.64 million units and 2.393 billion respectively. Fidelity Bank was the most traded stock by volume at 38.0 million units while GUARANTY finished the most traded stock by value at N534.4 million.  

Market sentiment, as measured by market breadth, was negative as 15 stocks declined, relative to 10 advancers with CONOIL and ARBICO as top losers by 10.00% and 9.52% respectively, while STERLNBANK and PZ recorded largest price gains with 5.83% and 3.57% respectively. 

READ ALSO: Top banks’ stocks plunge, as bears overwhelms Nigerian tier-2 banks’ rally

Across sectors, three of the five indexes under our coverage gained. Price appreciation in LAW UNION and AIICO INSURANCE moved the Insurance index up by 0.64%, while the Banking and industrial followed to gain 0.60% and 0.02% respectively.  

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Conversely, the Consumer Goods and Oil & Gas indexes were down 0.64% and 0.45% respectively, on the back of sell-offs in INTBREW, DANGSUGAR and CONOIL. 

 

Top gainers 

LAWUNION up 7.00% to close at N1.07,PZ up 3.57% to close at N4.35,ETI up 3.26% to close at N4.75,GUARANTY up 1.11% to close at N22.75ZENITHBANK up 0.60% to close at N16.75, 

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

Top Losers 

CONOIL down 10.00% to close at N18.9, ARBICO down 9.52% to close at N1.71, VITAFOAM down 9.30% to close at N5.07, INTBREW down 8.86% to close at N3.6, DANGSUGAR down 0.86% to close at N11.5 

 

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Outlook 

Nigerian bourse finished on a near stalemate, as buying pressure from top tier-1 banks countered the high sell-offs recorded in CONOIL, VITAFOAM & INTBREW. 

However, Nairmetrics envisages you seek the advice of a certified financial advisor when buying financial assets. 

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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

STANBIC, NB, UNILEVER record gains, as investors gain N49.88 billion

The Nigerian Stock Exchange’s market capitalization presently stands at N13,165 trillion.

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Nigerian Stock Investors lose N55.17 billion, as Zenith, GTBank and MTN finish lower

The Nigerian Stock Market closed on a positive note today, as the All Share Index gained by +0.38% to close at 25,236.97 basis points as against +1.04% appreciation recorded yesterday.

Its Year-to-Date (YTD) returns currently stands at -5.98%. The Nigerian Stock Exchange’s market capitalization presently stands at N13,165 trillion. Investors gained N49.88 billion today.

Market turnover closed positive as volume moved up by +25.97% as against -0.84% downtick recorded in the previous session. GUARANTY, ACCESS and ZENITHBANK were the most active to boost market turnover. ZENITHBANK and GUARANTY topped market value list

Market breadth closed negative as MANSARD led 15 Gainers, as against 18 Losers topped by IKEJAHOTEL.

Top gainers

  • UNILEVER up 8.33% to close at N13
  • NB up 5.88% to close at N36
  • STANBIC up 2.42% to close at N33.8
  • FLOURMILL up 2.32% to close at N19.85
  • MTNN up 0.84% to close at N119.5

Top losers

  • IKEJAHOTEL down 9.90% to close at N0.91
  • CHAMPION down 8.97% to close at N0.71
  • UNITYBNK down 8.47% to close at N0.54
  • NEIMETH down 5.00% to close at N1.9
  • BUACEMENT down 0.26% to close at N38.6

Outlook

The Nigerian bourse ended on a positive note on Thursday, in spite of relatively thin market liquidity. Nairametrics envisages cautious buying due to security challenges in major economic hubs around the northern part of Nigeria.

GTBank 728 x 90

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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.

GTBank 728 x 90

 

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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