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Stock Market

Nigerian stocks on 6-day gaining streak, investors gain N154.4 billion WoW

29 equities appreciated at price during the week, lower than thirty-one 31 equities in the previous week.

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NSE delists Skye Bank and Skye Bank and Fortis Microfinance Bank

The Nigerian bourse closed the trading session for the week cumulatively bullish. The NSE All-Share Index appreciated by 0.35% to close the week at 25,309.37. Stock market capitalization stands at N13.203 trillion, and investors gained N154.43 billion WoW.

A total turnover of 1.072 billion shares worth N7.384 billion in 16,684 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 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.

READ: Why banking stocks remain investors’ delight

The Conglomerates Industry followed with 307.744 million shares worth N799.159 million 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.

Specta

Trading in the top three equities, namely 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, 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. 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.

READ: NSE’s market capitalization rises to N13.2 trillion, as investors gain N46 billion

Top 10 gainers for the week

  • UNIVERSITY PRESS PLC up 31.45% to close at N1.63
  • FTN COCOA PROCESSORS PLC up 20.00% to close at N 0.24
  • CHAMPION BREW. PLC up 19.23% to close at N0.93
  • NEM INSURANCE PLC up 14.97% to close at N2.15
  • P Z CUSSONS NIGERIA PLC up 9.09% to close at N4.20
  • UNITY BANK PLC up 7.69% to close at N0.56
  • AXAMANSARD INSURANCE PLC up 7.60% to close at N1.84
  • UNILEVER NIGERIA PLC up 7.53% to close at N15.00
  • WAPIC INSURANCE PLC up 6.06% to close at N0.35
  • FCMB GROUP PLC up 5.91% to close at N2.15

Top 10 losers for the week

  • BETA GLASS PLC down 9.99%  to close at N55.40
  • ARBICO PLC down 9.52% to close at N1.14
  • C & I LEASING PLC down 9.09% to close at N4.00
  • CONSOLIDATED HALLMARK INSURANCE PLC down 8.11% to close at N0.34
  • CUTIX PLC down 7.89% to close at N1.75
  • FIDSON HEALTHCARE PLC down 7.25% to close at N3.71
  • NEIMETH INTERNATIONAL PHARMACEUTICALS PLC down 7.00% to close at N1.86
  • GUINNESS NIG PLC down 6.91% to close at N14.15
  • AFRICA PRUDENTIAL PLC down 6.67% to close at N4.20
  • TRANSNATIONAL CORPORATION OF NIGERIA PLC down 6.56% to close at N0.57

Outlook

The Nigerian stock market finished the trading week on an impressive note. That said, it should be noted that the bourse was all bullish throughout the trading week, as local investors increased their buying pressures on blue-chip stocks which include MTN, GTBank, Zenith Bank, Unilever, and not forgetting some tier 2 banks (Unity Bank and FCMB).

The recent stability in the foreign exchange market also provided the needed market confidence in boosting market liquidity relatively.

However, Nairametrics envisages cautious buying of stocks amid the gaining streak of Nigerian Stocks, as it’s expected that investors will take profits in subsequent trading days ahead.

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Follow Olumide on Twitter @tokunboadesina or email [email protected] He is a Member of the Chartered Financial Analyst Society.

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Stock Market

High demand for Azure, homework tools boost Microsoft earnings

Microsoft disclosed Azure revenue grew 50% as more businesses integrated into the cloud.

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The world’s most valuable software maker, Microsoft, announced impressive earnings results for the quarter that ended on December 31, 2020, as data retrieved showed that the $1.75 trillion company saw increased demand on its work-at-home tools triggered by the reduced human mobility presently in play.

  • Microsoft disclosed that Azure’s revenue grew by 50% as more businesses integrated into the cloud.
  • Stock experts had expected around 42% growth, although the software giant didn’t reveal Azure’s revenue in dollars.
  • The COVID-19 pandemic caused many businesses to speed up moves to the cloud and upgrades to internet-based collaboration software.

READ: Microsoft outlook users experience Software Blackout

The Productivity and Business Processes segment, including LinkedIn, Office, and Dynamics, printed $13.35 billion in revenue, which was up 13% and more than the $12.89 billion anticipated by wall street experts.

“What we have witnessed over the past year is the dawn of the second wave of the digital transformation sweeping every company and every industry,” said Satya Nadella, Chief Executive Officer of Microsoft.

READ: Oracle wins bid to acquire TikTok’s US operations after Microsoft offer was rejected

Specta

“Building their own digital capability is the new currency driving every organization’s resilience and growth. Microsoft is powering this shift with the world’s largest and most comprehensive cloud platform.”

Microsoft Corp. announced its earnings results for the quarter ended December 31, 2020, as compared to the corresponding period of last fiscal year:

  • Revenue was $43.1 billion, increasing by 17%.
  • Operating income was $17.9 billion, increasing by 29%.
  • Net income was $15.5 billion, increasing by 33%.
  • Diluted earnings per share were $2.03, increasing by 34%.

READ: Stay-at-Home Stocks: Microsoft, Apple, Facebook surge after upbeat results from Netflix

Earnings: $2.03 per share, adjusted, vs. $1.64 per share as expected by Wall Street analysts, according to Refinitiv.

“Accelerating demand for our differentiated offerings drove commercial cloud revenue to $16.7 billion, up 34% year over year,” said Amy Hood, Executive Vice President, and Chief Financial Officer of Microsoft. “We continue to benefit from our investments in strategic, high-growth areas.

READ: Software bug brings down Microsoft Teams, Azure

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Stock Market

United Capital Director spends N5.39 million on additional 1 million shares

1 million units of United Capital Plc’s shares worth N5.39 million has been purchased by a Non-Executive Director.

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Group Executive Director, others acquire over 3.5 million shares of United Capital Plc

A Non-Executive Director in United Capital Plc, Mr Emmanuel Nnorom of Vine Foods Limited 2 has purchased additional 1 million units of the firm’s shares worth N5.39 million.

This is according to a notification signed by the firm’s secretary, Leo Okafor and sent to the Nigerian Stock Exchange, as seen by Nairametrics.

The disclosure revealed that the transaction took place on the 25th of January, 2021, with the Director purchasing an additional 1 million units of the firm’s share at N5.39 per share, totalling N5, 390,000.

Nairametrics learnt that there have been increasing numbers of insider transactions recorded by the firm, especially in the last three months. For example, Nairametrics earlier reported that the CEO of the United Capital Plc, Mr Peter Ashade had purchased an additional 6 million units of the firm’s share in the last three months.

Underlying fundamentals

Specta

The surge in insider transactions might be attributable to the impressive growth in key financial metrics of United Capital Plc. For example, the firm had experienced a 25.90% rise in its gross revenue in its last reported financial statement – Q3, 2020.

Despite recording over 100% decline in other income earning components, the increase in gross earnings was jointly driven by an increase in Investment income, fees and commission income, net trading income and net interest margin.

As at the time of writing this report, Nairametrics learnt that the market capitalization of the firm has so far gained a total of N3.36 billion since the commencement of trading on the 4th of January, 2021. This is largely driven by an 11.34% increase in the share price of the firm.

In case you missed it: Nairametrics had earlier reported that Mr Emmanuel Nnorom purchased a cumulative of 1.755 million units of the firm’s share, spending a total of N7.99 million on the deal.

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Spotlight Stories

MTN Nigeria, Airtel Africa, WAPCO up, investors gain N259 billion

Nigerian Stocks Month-to-Date and Year-to-Date returns increased to 3.24% as market capitalization stands at N21.494 trillion.

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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  

The Nigerian Stock Exchange continued today on a positive note, as the All-Share Index improved by 1.21% to close at 41,584.94 index points.

Consequently, Month-to-Date and Year-to-Date return increased to 3.24% as market capitalization stands at N21.494 trillion, having added N259 billion.

A total volume of 467 million units of shares, valued at N5.56 billion exchanged hands in 5,990 deals.

  • Transnational Corporations (+0.93%) continued to dominate market activity in terms of volume and value at 45.9 million units and N50.5 million respectively.
  • Similarly, the market breadth index was positive with 32 gainers against 19 losers.
  • RTBRISCOE (+10.00%) led the gainer’s chart today, while JOHNHOLT (-10.00%) was the top loser.
  • Sectoral indices closed mostly positive. The NSE Consumer Goods Index led the gainers with 0.54%. The Insurance and Industrial Indexes trailed by 0.40% and 0.25% respectively.
  • On the flip side, the NSE Oli & Gas & Banking Indexes dipped by -5.31%  and -0.14%t respectively.

Top gainers

  1. AIRTELAFRI up 7.60% to close at N920
  2. FIDSON up 8.60% to close at N5.05
  3. FLOURMILL up 6.25% to close at N34
  4. WAPCO up 3.77% to close at N27.5
  5. MTNN up 0.53% to close at N170.9

Top losers

Specta
  1. SEPLAT down 9.26% to close at N490
  2. CUTIX down 7.08% to close at N2.1
  3. AFRIPRUD down 1.82% to close at N7
  4. CADBURY down 1.54% to close at N9.6
  5. ZENITHBANK down 0.94% to close at N26.25

Outlook

Nigerian stocks ended Tuesday’s trading session on an impressive note.

  • The upside route followed investors’ interests in WAPCO, Flourmill, and Airtel Africa as their stocks advanced by 3.77 %, 6.25%, and 7.60% respectively.
  • Nairametrics however, envisages cautious buying, amid improved market conditions in Nigeria’s financial market.

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