The Nigerian bourse ended the week cumulatively on a bullish note. The All-Share Index and the NSE market capitalization appreciated by 0.35% to close the week at 25,309.37 and N13.203 trillion, respectively. Investors gained N45.65 billion.
A total of 1.072 billion shares valued at N7.384 billion were traded this week in 16, 684 deals. This is a contrast to to the 950.414 million shares valued at N10.123 billion that exchanged hands last week in 16,647 deals.
The Financial Services industry (measured by volume) led the activity chart with 586.761 million shares valued at N4.022 billion traded in 8,483 deals; thus contributing 54.76% and 54.47% to the total equity turnover volume and value, respectively.
The Conglomerates Industry followed with 307.744 million shares worth N799.159 million traded in 1,010 deals. In the third place was the Consumer Goods industry, with a turnover of 50.170 million shares worth N968.272 million in 3,018 deals.
Trading in the top three equities – Transnational Corporation of Nigeria Plc, UACN Plc, and United Bank for Africa Plc (measured by volume) –accounted for 396.337 million shares worth N1.373 billion in 1,845 deals; thereby contributing 36.99% and 18.59% to the total equity turnover volume and value, respectively.
29 equities appreciated in price during the week, lower than 31 equities in the previous week. Also, 36 equities depreciated in price, higher than 27 equities in the previous week, while 98 equities remained unchanged, lower than 105 equities recorded in the previous week.
- UNIVERSITY PRESS PLC up 31.45% to close at N1.63
- FTNCOCOA PROCESSORS PLC up 20.00% to close at N0.24
- CHAMPIONBREW. PLC.up 19.23% to close at N0.93
- NEMINSURANCE PLC 1.87 2.15 0.28 14.97% to close at N2.15
- PZ CUSSONS NIGERIA PLC. 3.85 4.20 0.35 9.09% to close at N4.20
- UNITYBANK PLC 0.52 0.56 0.04 7.69% to close at N0.56
- AXAMANSARDINSURANCE PLC 1.71 1.84 0.13 7.60% to close at N1.84
- UNILEVERNIGERIA PLC. 13.95 15.00 1.05 7.53% to close at N15.00
- WAPICINSURANCE PLC 0.33 0.35 0.02 6.06% to close at N0.35
- FCMBGROUP PLC. 2.03 2.15 0.12 5.91% to close at N2.15
- BETA GLASS PLC. down 9.99% to close at N55.40
- ARBICOPLC. down 9.52% to close at N1.14
- C& I LEASING PLC. down 9.09% to close at N4.00
- CONSOLIDATEDHALLMARK INSURANCE PLC down 8.11% to close at N0.34
- CUTIXPLC. down 7.89% to close at N1.75
- FIDSONHEALTHCARE PLC down 7.25% to close at N3.71
- NEIMETHINTERNATIONAL PHARMACEUTICALS PLC down 7.00% to close at N1.86
- GUINNESSNIG PLC down 6.91% to close at N14.15
- AFRICAPRUDENTIAL PLC down 6.67% to close at N4.20
- TRANSNATIONALCORPORATION OF NIGERIA PLC down 6.56% to close at N0.57
The Nigerian bourse ended the week cumulatively bullish against all odds. This impressive result was triggered by significant buying pressure in notable stocks like UNILEVER, PZ, and WAPIC Insurance. Nairametrics also took note of impressive gains recorded in some tier-2 bank stocks like FCMB, UNITY BANK.
However, Nairametrics recommends you seek the advice of a registered stockbroker when choosing stocks to buy.
CitiTrust Financial Services Limited invests N395.9 million in additional LivingTrust Mortgage shares
CitiTrust has invested an additional N395.9 million for the purchase of an additional 659.8 million units of Living Trust Mortgage Bank.
CitiTrust Financial Services Limited has disclosed that it has invested an additional N395.9 million for the purchase of an additional 659.8 million units of Living Trust Mortgage Bank (formerly known as Omoluabi Mortgage Bank) shares.
This is according to a disclosure signed by the firm’s secretary, Olabisi Fayombo, and sent to the Nigerian Stock Exchange, as seen by Nairametrics.
The breakdown of the transaction revealed that a total of N359.9 million were spent for the purchase of an additional 659,750,000 units at N0.60 per share, and on two different occasions, i.e., 18th and 19th of January, 2021.
Recall that in 2019, CitiTrust Financial Services (CFS) Group Plc became the majority shareholder in LivingTrust Mortgage Bank, after investing heavily into the bank, preparing the stage for the bank to be more efficient and competitive.
What you should know:
- Nairametrics earlier reported a much more improved revenue of N192 million for LivingTrust Mortgage Bank in its last reported financials-Q3, 2020.
- In 2014, LivingTrust listed its shares on the Alternative Securities Market (ASeM) of the Nigerian Stock Exchange and thus became the first company to do so.
- The transaction might be an indicator of increased investors’ confidence in the firm’s future and potentials.
- LivingTrust Mortgage Bank shares closed trading for the week at N0.60
UBA, WAPCO, NEM drop amid profit-taking
Market sentiment, as measured by the market breadth, closed negative as 33 stocks lost, relative to 21 gainers.
Nigerian stocks ended the week on a bearish note as the All Share Index declined further by -0.24% today to close at 41,001.99 from 41,099.15 index points.
- Year-to-date and market capitalization similarly fell by -0.24% to settle at 1.82%, and N21.44 trillion respectively.
- A total volume of 591.4 million units of shares, valued at N5.07 billion exchanged hands in 5,767 deals. TRANSCORP (-1.72%) was the most traded shares by volume at 169.2 million units, while ZENITHBANK topped by value at N681 million.
- Market sentiment, as measured by the market breadth, closed negative as 33 stocks lost, relative to 21 gainers. LIVESTOCK (-10.00%) led the laggards today, while NCR (+9.86%) topped the gainers’ list.
- With losses recorded in all sectors, except for the consumer goods sector which advanced by +0.06%, the NSE banking, oil & gas, industrials, and insurance sectors fell by 0.17%, 0.29%, 0.50%, and 7.93%, respectively.
- NCR up 9.86% to close at N3.12
- CUTIX up 9.71% to close at N2.26
- CHAMPION up 9.55% to close at N1.95
- REDSTAREX up 3.03% to close at N3.4
- FLOURMILL up 1.27% to close at N32
- LIVESTOCK down 10.00% to close at N2.52
- MRS down 9.68% to close at N11.2
- NEM down 9.67% to close at N2.43
- WAPCO down 6.98% to close at N26
- UBA down 2.79% to close at N8.7
Nigerian stocks ended the last trading session on a bearish note amid profit-taking across the market spectrum.
- Downtrend was driven by price depreciation in large and medium capitalized stocks amongst which are; MRS Oil Nigeria, WAPCO, Lafarge, NEM, and UBA.
- That said, Nairametrics envisages cautious buying on the account that certain market indicators reveal investors are taking some of their gains across the market spectrum
Unilever Overseas Holdings acquires N352 million worth of shares of Nigerian subsidiary
Over 27 million shares of Unilever Nigeria Plc has been acquired by Unilever Overseas Holdings.
Unilever Overseas Holdings, the parent company of Unilever Nigeria Plc, has acquired over 27 million shares of its Nigerian Subsidiary, worth N352,036,698.
This is according to a “Notification of Share Dealing by an Insider” signed by the Company Secretary, Abidemi Ademola, and published on the NSE website.
It is important to note that the notification is compliant with The Exchange’s policy on insider dealing.
The statement revealed that the parent company increased stakes in its Nigerian subsidiary with the acquisition of 27,079,746 additional units of the company’s shares, in a single transaction, at an average share price of N13 per share.
This puts the total consideration for the shares purchased by Unilever Overseas Holdings on the 11th of January 2021 at N352,036,698.
Why this matters
- Dealings by insiders of listed companies are corporate actions to be disclosed by the management of the company, this is in compliance with NSE’s policy on insider dealing, as the disclosure is key in the effort to ensure transparency and reinforce the trust of the investing public.
- The purchase of the shares of Unilever Nigeria Plc further cements Unilever Overseas Holdings’ position as a substantial shareholder of the company.
What you should know
- It is important to note that as of 30th September 2020, Unilever Overseas directly owned 74.03% of the 5,745,005,417 issued and fully paid shares of Unilever Nigeria Plc.
- However, with the recent purchase, Uniliver Nigeria Plc is still compliant with the Free float requirement for the Main Board of the Nigerian Stock Exchange.