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Stock Market

SEC to implement capital market automation, aid market efficiency

The SEC said automation will enable a cost reduction and an increase in capital market efficiency.

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the Capital market, Lamido Yuguda assumes duty as new DG of Security and Exchange Commission

The Securities and Exchange Commission (SEC), announced on Monday that it is willing to automate Nigeria’s capital markets, bringing Nigeria to the 21st century of technological innovations.

SEC Chief, Mr Lamido Yuguda disclosed this in a meeting in Abuja with Nigeria’s Minister of Communication and Digital Economy, Dr Isa Pantami.

READ ALSO: Bitcoin Cash gains 65% since March, shows more stability

The SEC announced that the automation of Nigeria’s capital markets would make Nigeria a favourable destination for investors and contribute to Nigeria’s FDI.

”Presently, we have a lot of documents and papers being brought to the Commission for one approval or the other.

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”We think that if we can digitise our processes and these documents are transmitted to us electronically, it will make it easier for the market that we regulate and also stimulate growth,” the statement said.

The SEC said automation will enable a cost reduction and an increase in capital market efficiency, and urged collaboration with the Ministry of Communication and Digital economy to make the goal achievable.

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The regulatory body admitted that the global pandemic has shown the importance of technology in managing efficiency, as capital markets globally were left unaffected as they still worked efficiently.

The Ministry of Communication and Digital economy urged that it is willing to work with the SEC to automate Nigeria’s capital markets, as they are also willing to promote the nation’s digital economy and contribute to Nigeria’s economy.

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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. 

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NASD Holds Stakeholders Forum

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 Plccurrently holds a Market Capitalization of ₦74 Billion. 

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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. 

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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. 

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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.

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Nigerian banking stocks remain most liquid stocks, as investors gain N25.1 billion, DANGOTE CEMENT, OKOMUOIL and GUINNESS drag Nigerian Stock market down,  SEPLAT, GUINNESS, Breaks Nigerian Bourse Support Levels, Investors Lose N49 Billion  

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

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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

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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.

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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.

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Top 10 stockbroking firms trade N1.35 trillion on stocks in 2019, Nigerian stockbrokers facing extinctionBanking stocks lay anchor on the shaky waters of Nigerian Stock Market, Nigerian banking stocks ignore red flags, boost nigeria stock market, stock market

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

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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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