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Stock Market

Global shares plunge, as US, China tension heats up

America’s S&P 500 index broke its three-week winning streak yesterday.

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Facebook, Microsoft, Amazon shares drop, top U.S official orders lockdown, Nigerian Stock Market starts the week red, Investors lose N119.15

Global shares prices plunged further from five-month highs yesterday due to growing concerns surrounding Sino-U.S. tensions, in spite of positive macros coming from Europe recently.

An escalation in U.S.-China tensions that could have hugely negative consequences on stock market leadership, particularly around the US tech giants, is worrying,” said International markets analysis and insights from Stephen Innes, Chief Global Market Strategist at AxiCorp.

“Even more so, if President Trump pulls the free pass into China and things could turn quite ugly into the weekend as traders will have no option but pare risk,” Innes added.

READ ALSO: Africa may lose $4.8 billion in crop exports due to Coronavirus

America’s S&P 500 index broke its three-week winning streak yesterday as rising U.S. and China tensions, and a stumble in tech and health care weighed on sentiments.

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The S&P 500 lost 0.62%, while the Nasdaq Composite fell 0.94% and the Dow Jones Industrial Average slumped 0.68%.

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 at April 2020. The following three exchanges are the NASDAQ, London Stock Exchange, and Tokyo Stock Exchange. However, their combined market capitalization size was still lower than the NYSE.

READ MORE: Okonjo-Iweala gets Organised private sector’s endorsement for WTO job

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Not surprising, China’s blue-chip stocks led the bears, with losses standing at 4.4%, wiping out a week of gains.

European shares were on course for their worst day in a month, with the pan-region Euro Stoxx 50 down 1.9%.

In addition, global investors took little excitement in Europe’s impressive (PMI) data. The report showed that euro zone business activities bounced back to growth in July in spite of the resurgence in COVID-19 cases across the globe.

READ ALSO: Guinea Insurance Plc gives optimistic Q3 earnings forecast in spite of COVID-19

Technology stocks led losses, following their U.S. peers overnight, while the China-sensitive basic materials sector lost 2.4%.

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MSCI’s broadest index of Asia-Pacific shares outside Japan lost 1.9%. Tokyo was closed for public holiday celebration; still, the Nikkei futures were trading 1% lower. E-Mini futures for the S&P 500 also lost about 0.8%.

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Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment Trading. Member of the Chartered Financial Analyst Society. University of Pennsylvania: Power of Markets, IBM Enterprise Design Thinking. You can follow Olumide on twitter @tokunboadesina or email [email protected]

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Stock Market

#EndSARS protests dampen market liquidity at Nigerian Stock Market

INTBREW led 19 Gainers as against 18 Losers topped by ETERNA at the end of today’s session.

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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.

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Market Views

UBA most traded Nigerian stock, investors profit N128 billion W/W

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

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investors, Bulls gain momentum, as stimulus package lifts global financial markets, Bulls boost global financial market, gold hits 7 years high, Dangote, Tier-1 banks lead the bulls to close Nigerian stock market green

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.

Explore Data on the Nairametrics Research Website

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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.

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  • 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.

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Stock Market

NASD OTC investors lose N4.56 billion in a week, NSI return declines by -0.86%

The NSI return fell by -0.86%, from 723.13 points to close the week at 716.92 points on Friday, October 16, 2020.

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NASD OTC investors lost N4.56 billion in value, as market capitalization declined from N531.19 billion last week to N526.63 billion this week. Also, the NSI return fell by -0.86%, from 723.13 points to close the week at 716.92 points on Friday, October 16, 2020.

Why this matters

The decline in price movement is largely driven by the major slip in the share price of FrieslandCampina Wamco Nigeria Plc, which declined by -8.82% from N137.14 last week to N125.04 this week. Friesland Campina Wamco currently holds a Market Capitalization of ₦122.08 Billion.

  • In terms of a week-to-week basis, mixed results were recorded as total volume declined by 3145.90% from 29,674,056.00 units recorded earlier to 914,200 units recorded this week.
  • Total Value traded recorded 89.26% increase from N93.14 million to N176.29 million.
  • On a Year-To-Date basis, 7,872,941,186 units have been recorded so far.

Top traded securities by value

NASD Plc led the chart with N101.67 million followed by Friesland Wamco with N39.71 million and Central Securities Clearing System with N28.47 million and Niger Delta Exploration and Production Plc with N6.45million

Top traded securities by volume

NASD Plc also led the volume chart with 29,047,619 units, followed by Friesland Wamco with 310,313 units and Central Securities Clearing System 295,624 units, and lastly Niger Delta Exploration and Development Company with 20,500 units.

What you should know

The NASD OTC Securities Exchange currently has 41 admitted securities with a market capitalization of N526.63 billion. It has about 238 brokers and about 152 participating institutions

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