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Stock Market

GUINNESS, NB, SEPLAT, AIRTEL, UNILEVER record impressive gains, investors gain N82.46 billion WoW

This was partly triggered by soaring crude oil prices despite the resurgence of the COVID-19 pandemic.

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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 ended the week cumulatively on a bullish note. The NSE All-Share Index and Market Capitalization both appreciated by 0.63% to close the week at 25,199.84 points and N13.146 trillion respectively. Investors gained N82.46 billion WoW.

A total turnover of 1.327 billion shares worth N13.934 billion in 19,392 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1.065 billion shares valued at N10.798 billion that exchanged hands last week in 20,482 deals.

The Financial Services industry (measured by volume) led the activity chart with 886.545 million shares valued at N8.360 billion traded in 10,161 deals; thus contributing 66.79% and 60.00% to the total equity turnover volume and value respectively.

READ MORE: Julius Berger records foreign exchange loss of N3.102 billion in H1, 2020

The Conglomerates industry followed with 155.956 million shares worth N187.728 million in 828 deals. In third place was the Consumer Goods industry, with a turnover of 141.099 million shares worth N2.229 billion in 3,403 deals.

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Trading in the top three equities – Guaranty Trust Bank Plc, Transnational Corporation of Nigeria Plc and Zenith Bank Plc. (measured by volume) accounted for 419.455 million shares worth N6.079 billion in 3,854 deals, contributing 31.60% and 43.63% to the total equity turnover volume and value respectively.

Twenty-nine (29) equities appreciated at price during the week, lower than Forty-one (41) equities in the previous week.

Thirty-three (33) equities depreciated in price, higher than Eighteen (18) equities in the previous week, while one hundred and one (101) equities remained unchanged, lower than one hundred and four (104) equities recorded in the previous week

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READ MORE: Against headwinds, Nigerian stock market ends the week in green

Top gainers

  • CADBURY NIGERIA PLC. up 12.88% to close at N7.45
  • NIGERIAN BREW. PLC. up 12.5% to close at N36.00
  • UNILEVER NIGERIA PLC. up 11.61% to close at N12.50
  • C & I LEASING PLC. up 10.00% to close at N4.40
  • SEPLAT PETROLEUM DEVELOPMENT COMPANY PLC up 10.00% to close at N385.00
  • GUINNESS NIG PLC up 9.22% to close at N15.40
  • AIRTEL AFRICA PLC up 9.20% to close at N380.00
  • LASACO ASSURANCE PLC. up 8.33% to close at N0.26
  • FIDSON HEALTHCARE PLC up 8.19% to close at N3.70
  • PRESCO PLC up 7.29% to close at N51.50

READ MORE: Stanbic IBTC, Zenith Bank will limit their customers’ debit card spending abroad

Top 10 losers

  • CHAMPION BREW. PLC. down 25.26% to close at N0.71
  • IKEJA HOTEL PLC down 25.00% to close at N0.84
  • CORNERSTONE INSURANCE PLC down 10.91% to close at N0.49
  • N NIG. FLOUR MILLS PLC. down 10.00% to close at N3.87
  • CONSOLIDATED HALLMARK INSURANCE PLCdown 9.76% to close at N0.37
  • HONEYWELL FLOUR MILL PLC down 9.52% to close at N0.95
  • INTERNATIONAL BREWERIES PLC. down 9.52% to close at N2.85
  • ARBICO PLC. down 9.35% to close at N1.26
  • ACADEMY PRESS PLC. down 9.09% to close at N0.30
  • UNITY BANK PLC down 8.47% to close at N0.54

Outlook

Nigerian bourse ended the week cumulatively on a positive note as bluechip stocks like GUINNESS, NB, SEPLAT, AIRTEL, UNILEVER recorded an impressive gain.

This was partly triggered by soaring crude oil prices despite the resurgence of the COVID-19 pandemic and rising unemployment data recently released.

Nairametrics encourages you to seek the advice of a certified financial advisor, in setting up your stock portfolio.

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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. Member of the Chartered Financial Analyst Society. Behavioral Finance, Duke University. You can follow Olumide on twitter @tokunboadesina or email [email protected]

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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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Market Views

Apple, Microsoft gain over 1%, propels Nasdaq up

Apple and Microsoft shares rose 1% and 1.3%, respectively, to lead tech higher.

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Apple, Microsoft gain over 1%, propels Nasdaq up

U.S tech Stocks gained higher as leading tech brands stocks that include Apple and Microsoft witnessed buying pressures significantly.

Apple and Microsoft shares rose 1% and 1.3%, respectively, to lead tech higher. Alphabet shares gained nearly 1% and Amazon advanced 0.7%. Netflix was up 0.5% and Facebook advanced 0.2%.

Explore the Nairametrics Research Website for Economic and Financial Data

The Dow Jones gained 0.2%, to settle at 26,815.44. At its session low, the Dow was down 226 points. The S&P 500 rallied up by 0.3% to 3,246.59 and the Nasdaq composite advanced 0.4% to 10,672.27.

The bullish run, however, was kept in check, as first-time claims for state unemployment benefits totaled 870,000 for the week ended Sept. 19

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READ: Should I quit my job and start a business? Yes, if you pass these tests

While investors wait for the passage of the U.S stimulus package lingering at the U.S capitol, Stephen Innes, Chief Global Market Strategist at AxiCorp in a note to Nairametrics spoke on price movements in notable tech stocks, like Apple

READ: Nigerians in diaspora reveal their favourite Nigerian Stocks 

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Before the street started to pick up on the more favorable stimulus overtones US equities had been climbing steadily since the open with Tech and pockets within Cyclicals/Value leading the way midday. Apple is again setting the tone for Tech. Defensives outperformed out of the gate, although the last leg up seems more Cyclical and Value-driven. Many folks think this market cannot run without Financials, so with Financials acting better and Tech finding support, one could easily make a case for a low-volume melt-up in the near term,” he said.

READ: Guinness gains on NSE despite N17 billion pre-tax loss

However, it’s critical to note that stock traders, global investors are having a tough time in September, with the major equity benchmarks falling momentarily as tech shares lose steam.

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Spotlight Stories

Foreign investors demand for Nigerian stocks increases to N38.98 billion

Foreign inflow and outflow increased within the months of July and August 2020.

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Foreign investors demand for Nigerian stocks increases to N38.98 billion, Nigerians reveal why they pick their favourite banking stocks

The demand for local stocks by foreign investors between July and August 2020, received a boost, as it increased by 12.69%, from N34.59 billion (about $89.0 million) recorded in July 2020 to N38.98 billion (about $100.81 million) as of August 2020.

Foreign inflow and outflow increased within the period under view, from N13.70 billion and N20.89 billion to N17.66 billion and N21.32 billion respectively, in the months of July and August 2020.

Explore the Nairametrics Research Website for Economic and Financial Data

However, total domestic and foreign portfolio investment decreased by 8.49%, from N103.21 billion recorded to N94.45 billion.

This is according to the NSE polls on trading figures from market operators, on their domestic and foreign portfolio investment (FPI) flows.

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READ: Nigeria’s inflation rate hits 13.22% in August 2020, highest in 29 months

Year-on-Year, the performance of August 2020 (N94.45 billion), when compared with the performance in August 2019 (N121.99billion), revealed that total transactions decreased by 22.58%. In August 2020, the total value of transactions executed by Domestic Investors outperformed transactions executed by Foreign Investors, as shown in the diagram below:

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Source: NSE Report, 2020.

Both Retail and Institutional investors of the domestic market recorded a decline, however, the magnitude differs. While retail transactions decreased by 18.22%, from N32.54billion to N26.61billion in the period under review. The shares of institutional investors in the domestic market decreased by 20.01%, from N36.08billion in July 2020 to N28.86billion in August 2020.

(READ MORE:DASHBOARD: The most important economic numbers in Nigeria today)

In summary, the thirteen years performance of the domestic transactions decreased by 72.30%, from N3.556 trillion in 2007 to N985bn in 2019 whilst foreign transactions increased by 53.08% from N616bn to N943bn over the same period.

Key highlights

  • Total domestic transactions completed year to date (YTD) is about N731.02 billion
  • Total foreign transactions completed YTD is about N470.2 billion
  • Foreign inflow increased by 28.91% between July and August 2020
  • Foreign outflow also increased by 2.06% between July and August 2020

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