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Stock Market

GTBank, Zenith Bank, UBA record losses, investors down by N12.2 billion

ETERNA led 16 Gainers as against 15 Losers topped by REDSTAREX 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 started the first trading session of the week on a bearish note. The All Share Index dropped slightly by 0.09% to close at 25,582.23 points as against a 0.37% uptick movement recorded on Friday.

Its Year-to-Date (YTD) returns currently stands at -4.69%. Nigerian Stock Exchange market capitalization now stands at N13.346 trillion, as investors lost about N12.22 billion on Monday.

Nigerian Stock Exchange trading turnover turned negative as volume dipped by 39.24% as against 80.56% uptick recorded on Friday. UBA, ZENITHBANK, and ACCESS were the most active to boost market turnover.

UBN leads the list of active stocks that recorded an impressive volume spike at the end of today’s session.
Market breadth closed positive as ETERNA led 16 Gainers as against 15 Losers topped by REDSTAREX at the end of today’s session – an unimproved performance when compared with the previous outlook.

Top gainers

  • ETERNA up 9.13% to close at N2.27
  • NEM up 8.70% to close at N2.25
  • CILEASING up 8.33% to close at N3.9
  • ACCESS up 5.43% to close at N6.8
  • STANBIC up 1.32% to close at N38.5

Top losers

  • REDSTAREX down 4.37% to close at N3.72
  • DANGSUGAR down 3.60% to close at N12.05
  • GUARANTY down 2.45% to close at N25.9
  • UBA down 2.33% to close at N6.3
  • ZENITHBANK down 0.57% to close at N17.3

Outlook

Nigerian bourse unsurprisingly recorded its first trading loss in 7 consecutive trading sessions, after oil prices tanked lower.

GTBank 728 x 90

The greenback’s strength, adding to the selling pressure on crude and a reported upsurge in COVID-19 caseloads in key international markets, rattled local investors’ nerves.

It should also be noted that significant losses in Nigeria’s tier 1 banks (GTBank, UBA, Zenith Bank) neutralized gains recorded by ETERNA and Access Bank.

Nairametrics envisages cautious buying, as the resurgence of the COVID-19 pandemic still remains on the major headline across many financial markets.

GTBank 728 x 90

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

1 Comment

1 Comment

  1. Emmanuel O. Oyelude, Ph.D.

    September 8, 2020 at 3:47 am

    Please take a second look at “…All Share Index dropped slightly by 0.09% to close at 25,582.23 basis points”. It seems the units for “All Share Index” should be “points” and not “basis points”. Note that 1 basis point is 0.01%. Therefore, it is right to say: “…All Share Index dropped slightly by 9 basis points (that is, 0.09%). Thanks.

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Stock Market

Nigerian stocks on steroids, investors on hat trick

Market breadth closed positive as NESTLE led 41 Gainers as against 5 Losers topped by ROYALEX.

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Closed Period

Nigerian bourse continued its impressive run for 3 days amid many odds weighing other financial markets.

  • The All Share Index gained by +1.58% to close at 29,437.60 points, as against +0.70% appreciation recorded on Tuesday. Nigerian Stock Exchange market capitalization now stands at N15.4 trillion.
  • Its Year-to-Date (YTD) returns currently stands at +9.67%.
  • That said, Nigerian bourse trading turnover dropped by 2.68%, as against the 13.14% gain recorded on Tuesday. ZENITHBANK , FIDELITYBK, and ETI were the most active to boost market turnover.
  • Market breadth closed positive as NESTLE led 41 Gainers, as against 5 Losers topped by ROYALEX at the end of today’s session – an unimproved performance when compared with the previous outlook.

Top gainers

  1. NESTLE up 10.00% to close at N1292.5
  2. CONOIL up 9.80% to close at N19.05
  3. FLOURMILL up 6.42% to close at N28.2
  4. TOTAL up 5.97% to close at N118.9
  5. DANGCEM up 2.17% to close at N155.3

Top Losers

  1. ROYALEX down 8.00% to close at N0.23
  2. CUTIX down 6.84% to close at N1.77
  3. HONYFLOUR down 1.03% to close at N0.96
  4. AFRIPRUD down 0.85% to close at N5.85
  5. MAYBAKER down 0.33% to close at N3.05

Outlook
Nigerian Stocks got fired up amid falling oil prices and the U.S dollar gained strongly at the mid-week trading session.

  • Buying pressure was significantly seen across leading NSE 30 Stocks like Dangote Cement, Nestle, and not forgetting Total which recently declared a profit after tax of N500million in Q3 thereby beating market analysts forecasts.
  • Nairametrics, however, envisages cautious buying as the COVID-19 crisis seems to be getting out of hand in Nigeria’s key international markets that include Western Europe and the United States.

GTBank 728 x 90
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Stock Market

GTBank, Cadbury, keep Nigerian Stocks fired up, Investors gain N105.76 Billion

Market breadth closed positive as LINKASSURE led 46 Gainers as against 2 Losers topped by WEMABANK

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Value of shares traded by top 10 stockbrokers up 133% despite COVID-19, investors, Raging Bulls lift Brent Crude price by 10%

Nigerian Stock Market ended the Tuesday trading session on a bullish note.

The All Share Index gained by 0.28% to close at 28,777.96 basis points as against +0.28% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stand at +7.21%, and investors gained 105.76 Billion.

READ: #EndSARS protests curb Bulls at the Nigerian Stock Market

  • Nigerian bourse trading turnover also ended positively as volume ticked up by +20.44%, as against the +20.44% uptick recorded in the previous session.
  • FBNH, ACCESS, and FIDELITYBK were the most active to boost market turnover. CILEASING led the list of active stocks that recorded an impressive volume spike at the end of today’s session.
  • Market breadth closed positive as LINKASSURE led 46 Gainers as against 2 Losers topped by WEMABANK at the end of today’s session – an improved performance when compared with the previous outlook.

READ: Why you should avoid investing long term in Nigeria’s stock market

Top gainers

GTBank 728 x 90
  1. FLOURMILL up 9.50% to close at N26.5
  2. CONOIL up 9.81% to close at N17.35
  3. CADBURY up 9.21% to close at N8.3
  4. GUINNESS up 5.63% to close at N16.9
  5. GUARANTY up 1.96% to close at N31.25

READ: #EndSARS: FG creates new N25 billion Youth Fund, to increase to N75 billion in 3 years

Top Losers

  1. WEMABANK down 1.72% to close at N0.57
  2. NEM down 1.46% to close at N2.03
  3. DEAPCAP flat to close at N0.27
  4. UNIONDICON flat to close at N10.95
  5. MOBIL flat to close at N178.3

READ: Nigerian bourse close flat, triggered by low market liquidity

GTBank 728 x 90

Outlook
Nigerian Stocks were all fired up at Tuesday’s trading session. The surge is partially attributed to the leading blue-chip stocks that includes GTBank, Cadbury, Conoil, and Flour mills.

  • Buying pressure got intensified as Nigeria’s major export earning – crude oil recorded impressive gains amidst the falling US dollar.
  • Nairametrics, however, advises that you seek to buy stocks from a certified stockbroker, as some local equities exhibit cyclic returns.

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Stock Market

Dangote Cement, Ecobank up, investors gain N42.3 billion

The market breadth index was positive with 27 gainers against 15 losers.

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Closed Period

Nigerian bourse continued its bullish run as seen in the first trading session of the week. The All Share Index ticked up by 0.28%, to close at 28,777.96 points, with the year-to-date return at +7.19% and market capitalization at N15.04 trillion. Investors were up by N42.28 billion

  • A total volume of 340.8 million units of shares, valued at N5.56billion exchanged hands in 4,235deals. GUARANTY was the most traded shares by volume and value at 56.7million and units and N1.73billion, while ZENITHBANK followed with 47.7million units and N1.01 billion respectively,
  • The market breadth index was positive with 27 gainers against 15 losers. CUSTODIAN (+5.50%) led the gainer’s chart today, while NASCO (-8.39%) topped the laggards.
  • Sector performance
  • NSE Banking Index: Up by +1.01%, due to price appreciation in ETI (+7.69%), STERLNBANK (3.57%) and UBA (+2.13%).
  • NSE Industrial Index: Up by +0.38%, on gains in DANGCEM (+0.66%) and WAPCO (+0.56%)
  • NSE Oil & Gas Index: Improved slightly by +0.07%, as OANDO advanced by (+0.87%).
  • NSE Insurance Index: Down by -0.99%, on price depreciation in CHIPLC (-8.82%) and WAPCO (-7.50%).
  • NSE Consumer Goods Index: Down by -0.34% price decline in INTBREW (-4.60%).

Top gainers

  1. CUSTODIAN up 10.00% to close at N5.5
  2. ETI up 7.69%  to close at N4.9
  3. FLOURMILL up 5.22% to close at N24.2
  4. GLAXOSMITH up 4.63% to close at N5.65
  5. DANGCEM up 0.66% to close at N152

Top losers

  1. MORISON down 10.00% to close at N0.54
  2. NASCON down 8.39% to close at N13.1
  3. INTBREW down 4.60% to close at N6.01
  4. NAHCO down 2.38% to close at N2.05
  5. DANGSUGAR down 0.72% to close at N13.7

Outlook

Nigerian Stocks recorded impressive gains amid falling crude oil prices.

  • Investors increased their buying pressure on notable blue-chip stocks, most prevalently seen in Dangote Cement, Ecobank, and Flour mills.
  • Investors are rushing into Nigerian Stocks on the hunt for alpha-yielding investments in the face of increasingly negative real returns in the debt market remain positive for Nigerian equities.
  • That said Nairametrics advise investors to trade stocks that exhibit good fundamentals amid growing political uncertainty in spite of the fact that investors await Q3 earnings across the market spectrum.

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