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Stock Market

Zenith Bank, GTBank, Transcorp most traded stocks for the week

31 equities appreciated in price during the week, higher than 29 equities in the previous week.

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nIGERIAN STOCK EXCHANGE, STOCK MARKET, MARKET CAPITALIZATION

The Nigerian Stock Exchange ended the week cumulatively on an impressive note. The NSE All-Share Index and Market Capitalization both appreciated by 0.09% to close the week at 25,221.87 and N13.158 trillion respectively.

A total turnover of 950.414 million shares worth N10.123 billion in 16,647 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1.327 billion shares valued at N13.934 billion that exchanged hands last week in 19,392 deals.

The Financial Services industry (measured by volume) led the activity chart with 624.278 million shares valued at N6.181 billion traded in 8,313 deals; thus contributing 65.68% and 61.06% to the total equity turnover volume and value respectively.

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

The Consumer Goods Industry followed with 96.320 million shares worth N2.199 billion in 3,148 deals. In the third place was the Conglomerates industry, with a turnover of 89.376 million shares worth N145.612 million in 757 deals.

GTBank 728 x 90

Trading in the top three equities – Zenith Bank Plc, Guaranty Trust Bank Plc, and Transnational Corporation of Nigeria Plc (measured by volume) accounted for 298.901 million shares worth N4.761 billion in 3,056 deals, contributing 31.45% and 47.03% to the total equity turnover volume and value respectively.

31 equities appreciated in price during the week, higher than 29 equities in the previous week. 27 equities depreciated in price, lower than 33 equities in the previous week, while 105 equities remained unchanged, higher than 101 equities recorded in the previous week.

READ: SEPLAT, STANBIC , GUINNESS surge ,Investors gain N182 Billion WoW

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Top 10 gainers for the week

  • LASACO ASSURANCE PLC up 26.92% to close at N0.33
  • INTERNATIONAL BREWERIES PLC up 26.32% to close at N3.60
  • CORNERSTONE INSURANCE PLC up 18.37% to close at N0.58
  • NEIMETH INTERNATIONAL PHARMACEUTICALS PLC up 12.36% to close at N2.00
  • UNIVERSITY PRESS PLC up 11.71% to close at N1.24
  • UNILEVER NIGERIA PLC up 11.60% to close at N13.95
  • CHAMPION BREW. PLC up 9.86% to close at N0.78
  • N NIG. FLOUR MILLS PLC up 9.82% to close at N4.25
  • JULIUS BERGER NIG PLC up 9.63% to close at N16.50
  • FIDSON HEALTHCARE PLC up 8.11% to close at N4.00

Top 10 losers for the week

  • ROYAL EXCHANGE PLC down 16.13% to close at N0.26
  • ASSOCIATED BUS COMPANY PLC down 14.89% to close at N0.40
  • CONOIL PLC down 9.76% to close at N15.25
  • P Z CUSSONS NIGERIA PLC down 9.41% to close at N3.85
  • U A C N PLC down 8.33% to close at N5.50
  • FLOUR MILLS NIG. PLC down 6.09% to close at N18.50
  • OANDO PLC down 5.24% to close at N2.35
  • VITAFOAM NIG PLC. down 5.22% to close at N5.45
  • CAP PLC down 5.00% to close at N0.85
  • REGENCY ASSURANCE PLC down 4.35% to close at N0.22

Outlook

The Nigerian bourse ended the week cumulatively bullish, in spite of disruption in economic activities, scarcity of foreign exchange for payment obligation, and thin market liquidity at the Nigerian bourse.

Nairametrics, however, recommends cautious buying on growing geopolitical uncertainty.

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment Trading. Featured Financial Market Analysis for a Fortune Global 500 Company. Member of the Chartered Financial Analyst Society. Follow Olumide on Twitter @tokunboadesina or email [email protected]

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Stock Market

Flour Mills’ GMD acquires shares worth ₦54.6 million

Paul Miyonmide Gbedebo has acquired 1,949,839 additional units of Flour Mills Nigeria Plc, worth ₦54.6 million.

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Flour Mills of Nigeria Plc, 2018 FY: Flour Mills’ shareholders unanimously endorse N4.92 billion dividend , FMN redeems N1 billion pledge to CACOVID relief fund, donates $1.5 million worth of medical supplies

Flour Mills Nigeria Plc (FMN) has notified the Nigerian Stock Exchange that its Group Managing Director, Paul Miyonmide Gbedebo, has acquired 1,949,839 additional units of Flour Mills Nigeria Plc’s shares, worth ₦54.6 million.

In line with the Nigerian Stock Exchange policy on insider dealing, the formal disclosure was made by the Group’s Secretary, Mr. Joseph Umolu.

According to the disclosure, Mr. Gbedebo acquired the additional shares in a single transaction, at an average share price of ₦28.00 per share, on November 17th 2020.

This put the total consideration for the shares purchased by the Managing Director at ₦54,595,492.00

At the end of trading activities today, November 24 2020, shares of Flour Mills Nigeria Plc closed at ₦25.40. This price, however, is 49.41% higher than its 52-week low of ₦17.00.

GTBank 728 x 90

Why this matters

Dealings by insiders of listed companies are corporate actions to be disclosed, as required by the Nigerian Stock Exchange to aid transparency.

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Stock Market

First Bank, UBA, Stanbic jumpstart Nigerian stocks

STANBIC led 25 Gainers as against 16 Losers topped by ETERNA at the end of today’s session.

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Global stocks sell-off persists as resurgence of COVID-19 frighten investors 

Nigerian bourse ended Tuesday’s trading session on a positive note. The All Share index gained 0.64% to close at 34,340.56 points as against the 0.04%  drop recorded on Monday. Its Year-to-Date (YTD) returns currently stands at +27.94%.

  • Nigerian Stocks trading turnover cumulatively tanked lower, as trading volume dipped by 35.67% as against +64.69% uptick recorded on Monday. ZENITH BANK, TRANSCORP and GUARANTY were the most active to boost market turnover.
  • The market breadth closed positive as STANBIC led 25 Gainers as against 16 Losers topped by ETERNA at the end of today’s session – an improved performance when compared with the previous outlook.
  • CILEASING leads the list of active stocks that recorded an impressive volume spike at the end of today’s session.

Top gainers

  1. STANBIC up 7.08% to close at N42.35
  2. UBA up 6.49% to close at N8.2
  3. ACCESS up 5.70% to close at N8.35
  4. FBNH up 6.72% to close at N7.15
  5. UPDCREIT up 9.64% to close at N4.55

Top losers

  1. ETERNA down 9.98% to close at N4.15
  2. FIDSON down 9.81% to close at N4.87
  3. JBERGER down 8.95% to close at N17.3
  4. UACN down 3.77% to close at N7.65
  5. GUINNESS down 2.78% to close at N17.5

Outlook

Nigerian Stocks soared higher at the second trading session of the week, coupled with Africa’s largest exporting earning product, crude oil reaching its highest level since March.

  • Significant buying pressure from Nigerian tier-1 banks which include First Bank, UBA, Stanbic, rallied Nigerian Stocks north, on the bias showing Nigeria’s apex bank in its just-concluded monetary policy meeting retained the monetary policy rate and cash reserve ratio.
  • Nairametrics envisages cautious buying amid reports that still show COVID-19 pandemic will remain on the major headlines, at least in the near term.

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Market Views

Tesla up 500% in 2020, near $500 billion market value

The tech powerhouse is now less than $6 billion short of approaching the $500 billion market value.

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Tesla up 500% in 2020, near $500 billion market value, Survey unveils Elon Musk as the most inspirational leader in tech 

Tesla, the electric car automaker, has gained 500% in 2020 and has become by far the world’s most valuable automaker in the world, despite it producing far less than Volkswagen, Toyota, or General Motors.

The tech powerhouse is now less than $6 billion short of approaching the $500 billion market value, and extending its surge since reports struck Wall Street on Tesla making its S&P 500 debut on December 21, forcing index funds to buy billions of dollars of its share.

READ: U.S stock futures trade flat, Apple regains $2 trillion market value

Unsurprisingly, it became global investors’ choice amid its recent price action rising by 6% – showing a gain of over 6%. Tesla Inc. extended its rally at the most recent trading session ahead of its December debut in the S&P 500 (SPX), as it is now worth a market value of $494 billion.

READ: Nigeria spends N1.08 trillion to import used cars and motorbikes in one year 

GTBank 728 x 90

Its market capitalization is higher than the Gross Domestic Product (GDP) of any African country, Nigeria – $448.1billion, South Africa – $351.4billion, Egypt – $303.2billion, Algeria – $169.98billion, Morocco – $118.7billion, Ethiopia – $96.12billion, Kenya – $95.5 billion, Angola – $94.6 billion, Ghana – $66.9 billion, Tanzania – $63.2 billion.

READ: Dangote Cement, Nigerian Breweries drop, investors lose N46 billion

What you should know

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Now worth $494 billion, Tesla will increase the concentration of heavyweight companies within the S&P 500. It will be the 7th most valuable company within the index, just behind Berkshire Hathaway and ahead of Visa Inc., according to Refinitiv data.

READ: Crypto: UniSwap gives each owner over $2,000

  • About a fifth of the car company’s shares is owned by its Chief Executive, Elon Musk and other insiders.
  • The S&P 500 is weighted by the number of companies’ stocks available on the stock market.
  • The car company’s influence within the benchmark will be slightly reduced, putting it in 8 positions, just behind Johnson & Johnson, with an equivalent of about 1% of the S&P 500 index.

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