Nigerian bourse closed in a near stalemate, as the All Share Index improved 0.03% to 28,665.82 points. A total volume of 297.3 million units of shares, valued at N2.96billion exchanged hands in 4,736deals.

UBA was the most traded shares by volume at 72.4million units, while ZENITHBANK topped by value N568million.

Nigerian bourse market breadth index was positive with 23 gainers against 17 losers. INTBREW (+9.90%) led the gainer’s chart today, while MOBIL (-4.60%) topped the laggards.

Sector performance

• NSE Consumer Goods Index: Up by +1.86% on buy-interests in INTBREW (+9.90%), NB (+4.67%), and FLOURMILL (+4.55%).
• NSE Insurance Index: Down by -1.17% on price depreciation in CORNERST (-4.76%) and AIICO (-4.49%).
• NSE Banking Index: Declined by -1.02% due to sell-offs in UBA (-2.82%), ACCESS (-2.52%), and GUARANTY (-1.30%).
• NSE Oil & Gas Index: Dipped by -0.89% due to the decline in MOBIL (-4.60%).
• NSE Industrial Index: Fell by -0.17% on the back of a loss in WAPCO (-2.16%)

Top gainers

1. INTBREW up 9.90% to close at N6.44
2. NB up 4.67% to close at N51.5
3. FLOURMILL up 4.55% to close at N23
4. UACN up 4.48% to close at N7
5. JBERGER up 2.66% to close at N17.35

Top Losers

1. MOBIL down 4.60% to close at N178.3
2. GUINNESS down 3.68% to close at N17
3. GUARANTY down 1.30% to close at N30.4
4. WAPCO down 2.16% to close at N18.1
5. UNILEVER down 2.59% to close at N13.15

Outlook

Nigerian bourse ended relatively flat on Tuesday amid higher oil prices and COVID-19 raging onslaughts infecting over 40 million people globally.

• The major theme distorting the mind of local investors is the shutdown of economic activities at Nigeria’s major economic hubs which include Lagos, Edo, and Oyo. This weighed on the bulls’ resolve to increase their buying pressure.
• Trading activities turned relatively impressive amid the prevailing macro, showing the high intensity of protests by Nigerian youths clamouring for police reforms.
• Nairametrics envisage cautious buying, as the prevailing macro shows a significant amount of armed miscreants distorting the peaceful protests recently.

Nigerian bourse started its first trading session, unsurprisingly ended on a neutral note.

The All Share Index remained the same as the last trading session, closing at 28,658.31 basis points as against +1.11% appreciation recorded on Friday. Its Year-to-Date (YTD) returns currently stands at +6.77%.

• That said, Nigerian bourse trading turnover plunged by -41.26% as against the +42.93% uptick recorded on Friday. ZENITHBANK, UBA, and FBNH were the most active to boost market turnover.
• CHAMS led the list of active stocks that recorded an impressive volume spike at the end of today’s session.
• Market breadth closed positive as INTBREW led 19 Gainers as against 18 Losers topped by ETERNA at the end of today’s session – an unimproved performance when compared with the previous outlook.

Top gainers

1. INTBREW up 9.94% to close at N5.86
2. CONOIL up 9.72% to close at N15.8
3. ARDOVA up 5.83% to close at N12.7
4. GUINNESS up 4.75% to close at N17.65
5. GUARANTY up 1.48% to close at N30.8

Top losers

1. ETERNA down 8.98% to close at N4.46
2. MAYBAKER down 7.69% to close at N3
3. CADBURY down 3.11% to close at N7.8
4. ZENITHBANK down 2.55% to close at N21
5. WAPCO down 1.86% to close at N18.5

Outlook

Nigerian bourse ended neutral amid rising crude oil prices at the first trading session for the week.

• Ongoing protests among a significant number of Nigerian youths in urban areas weighed on Monday’s trading activity, as economic activities were disrupted at Nigeria’s economic hub, thereby leading to a plunge in trading activities.
• Furthermore, gains recorded by Conoil, GTbank got neutralized, as selling pressure observed in  Eterna, Cadbury, and Zenith bank intensified.
• Nairametrics envisage cautious buying as many Nigerian millennials still remain on the street protesting for other reforms, and the rising caseloads of COVID-19 in Nigerian’s international markets would most likely affect its major export earnings in the mid-term.

Nigerian bourse in spite of prevailing protest by many Nigerian Millenials ended the past week bullish.

The Nigerian All-Share Index and Market Capitalization both appreciated by 0.86% to close the week at 28,659.45 and N14.980 trillion respectively. Investors gained N127.61 Billion.

• A total turnover of 1.955 billion shares worth N22.978 billion in 22,844 deals was traded this week by investors on the floor of the Exchange. This is in contrast to a total of 3.140 billion shares valued at N35.372 billion that exchanged hands last week in 35,099 deals.
• The Financial Services industry (measured by volume) led the activity chart with 1.648 billion shares valued at N18.824 billion traded in 13,050 deals; thus, contributing 84.29% and 81.92% to the total equity turnover volume and value respectively.
• The Conglomerates Industry followed with 99.313 million shares worth N87.823 million in 553 deals.
• The third place was the Consumer Goods, with a turnover of 60.570 million shares worth N991.189 million in 3,269 deals.
• Trading in the top three equities namely United Bank for Africa Plc, Guaranty Trust Bank Plc, and Zenith Bank Plc. (measured by volume) accounted for 885.515 million shares worth N15.881 billion in 6,308 deals, contributing 45.30% and 69.11% to the total equity turnover volume and value respectively.
• The NSE All-Share Index and Market Capitalization both appreciated by 0.86% to close the week at 28,659.45 and N14.980 trillion respectively.

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Top gainers

1. ETERNA PLC. up 34.99% to close at N4.90
2. INTERNATIONAL BREWERIES PLC. up 12.92% to close at N5.33
3. CADBURY NIGERIA PLC. up 12.59% to close at N8.05
4. GUINNESS NIG PLC up 12.33% to close at N16.85
5. LAFARGE AFRICA PLC. up 10.88% to close at N18.85
6. TOTAL NIGERIA PLC. up 10.00% to close at N 112.20
7. PRESCO PLC up 8.93% to close at N65.90
8. UNION DIAGNOSTIC & CLINICAL SERVICES PLC up 8.33% to close at N0.26
9. MAY & BAKER NIGERIA PLC. up 8.33% to close at N3.25
10. NASCON ALLIED INDUSTRIES PLC up 7.88% to close at N13.00

READ: Nestlé S.A buys additional shares of Nestlé Nigeria worth N287 million

Top losers

1. E-TRANZACT INTERNATIONAL PLC down 26.38% to close at N1.73
2. PORTLAND PAINTS & PRODUCTS NIGERIA PLC down 10.31% to close at N2.00
3. CONSOLIDATED HALLMARK INSURANCE PLC down 8.11% to close at N0.34
4. ROYAL EXCHANGE PLC. down 7.41% to close at N0.25
5. CUTIX PLC. down 5.81% to close at N1.62
6. AXAMANSARD INSURANCE PLC down 5.67% to close at N1.83
7. CUSTODIAN INVESTMENT PLC down 4.76% to close at N5.00
8. FIDSON HEALTHCARE PLC down 4.63% to close at N3.50
9. ARDOVA PLC down 3.61% to close at N12.00
10. GLAXO SMITHKLINE CONSUMER NIG. PLC down 3.45% to close at N5.60

Outlook

Nigerian bourse ended positive W/W amid mixed oil prices as COVID-19 raging onslaughts infected over 38 million people globally.

• Trading activities turned relatively impressive W/W amid the prevailing macro, showing the high intensity of protests by Nigerian youths clamoring for police reforms.
• The Nigerian inflation rate surged to 13.71% (year-on-year) in September 2020, indicating a 0.49% point difference when compared to 13.22% recorded in August 2020, thereby temporarily weakening the buying pressure of top financial-based stocks.
• Nairametrics envisage cautious buying amid rising COVID-19 caseloads globally.