Stock Market
GTBank, Zenith Bank, MTN record gains, investors up by N50 billion
Market breadth closed positive as ETERNA led 22 Gainers, as against 12 Losers topped by ABCTRANS.
Published
6 months agoon
Nigerian bourse ended Thursday’s trading session on a bullish note.
The All Share Index (ASI) gained by 0.38% to close at 25,520.97 points, as against the 0.28% drop recorded on Wednesday. Its Year-to-Date (YTD) returns currently stands at 4.92%. The Nigerian Stock Exchange Capitalization presently stands N13.313 billion. Investors gained N50.12 billion.
Nigerian Stock Exchange turnover was negative as volume dipped by 12.29% as against the 11.40% surge recorded on Wednesday. ZENITHBANK, FIDELITYBK, and MBENEFIT were the most active to boost market turnover.
SEPLAT leads the list of active stocks that recorded an impressive volume spike at the end of today’s session; followed closely by FIDSON
Market breadth closed positive as ETERNA led 22 Gainers, as against 12 Losers topped by ABCTRANS at the end of today’s session – an improved performance when compared with the previous outlook.
Top gainers
- CILEASING up 8.45% to close at N3.85
- ACCESS up 3.85% to close at N6.75
- ZENITHBANK up 3.35% to close at N16.95
- GUARANTY up 1.85% to close at N24.75
- MTNN up 0.42% to close at N120
Top losers
- FCMB down 4.87% to close at N2.15
- FIDSON down 4.52% to close at N3.8
- CUSTODIAN down 3.03% to close atN4.8
- SEPLAT down 2.50% to close at N390
- AFRIPRUD down 1.83% to close at N4.3
Outlook
Against headwinds, NSE30 Stocks paused hat-trick of trading session losses, as investors piled funds into MTN, GTBank, Zenith Bank, and Access Bank amid falling crude oil prices, and surging COVID-19 caseloads in Nigeria’s vital international markets.
However, in spite of the recent bullish run, Nairametrics remain concerned about the relatively low amount of institutional investors taking part in the Nigerian trading session in recent days, as market liquidity remains relatively thin, compared to the pre- COVID-19 period.
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.
Stock Market
United Capital Executive Director acquires 2 million additional shares worth N12.4 million
An Executive Director of United Capital Plc has purchased additional units of its shares worth N12.4 million.
Published
2 hours agoon
February 25, 2021
United Capital Plc has notified the Nigerian Stock Exchange that one of its Executive Directors, Sunday Anene has acquired 2,000,000 additional units of its shares, worth N12.4 million.
In line with the Nigerian Stock Exchange policy on insider dealing, the formal disclosure was made by the company’s secretary, Leo Okafor.
According to the disclosure, the recent deal which took place on the 24th of February, 2021, saw Mr Anene purchase 2,000,000 additional units of the firm’s shares at N6.20 per unit, totalling N12.4 million.
Meanwhile, United Capital Plc share price currently trades at N6.24 on the floor of the Nigerian Stock Exchange.
Results from its recently released FY 2020 financials showed a 57% increase in Profit After Tax, from N4.97 billion to N7.81 billion.
Other key financial metrics recorded impressive growth, part of which played an underlying role in the declaration of a total dividend of N4.2 billion- a major improvement of about 40% when compared to 2019 figures.
What you should know
- Mr Anene had in November 2020, spent the sum of N3.75 million on additional 915,574 units of the firm’s shares.
- United Capital Plc is a Nigeria-based financial and investment services company, offering a wide array of services like investment banking, portfolio management, securities trading and trusteeship etc.
Spotlight Stories
Sell-offs resume in Nigerian stock market, catalyzed by Ecobank, Fidson
Investor sentiment as measured by market breadth was negative with 24 decliners and 14 advancers.
Published
3 hours agoon
February 25, 2021
Nigerian bourse ended the fourth trading session on a negative note. Nigeria’s All-share index depreciated by 0.31% today to 40,095.49 index points.
Year-to-date return and market capitalization settled at -0.43% and N20.97 trillion respectively.
- A total volume of 326.0 million units of shares, valued at N3.7 1billion exchanged hands in 4,567 deals.
- Across coverage sectors, the performance was mostly negative as most tracked indices finished south. The NSE banking, consumer goods, and oil & gas fell by 1.44%, 0.79%, and 0.15% respectively.
- On the flip side, the NSE insurance improved by 0.24%, while the industrial index closed flat.
- Investor sentiment as measured by market breadth was negative with 24 decliners and 14 advancers. LASACO (-9.68%) led the laggards today, while CHAMS (+9.09%) finished top gainer.
Top gainers
- CHAMS up 9.09% to close at N0.24
- ROYALEX up 8.00% to close at N0.27
- WEMABANK up 7.69% to close at N0.7
- REDSTAREX up 5.77% to close at N3.3
- PRESTIGE up 4.55% to close at N0.46
Top losers
- LASACO down 9.68% to close at N1.24
- FIDSON down 8.41% to close at N4.9
- ETI down 6.31% to close at N5.2
- MBENEFIT down 5.13% to close at N0.37
- UACN down 5.03% to close at N7.55
Outlook
Nigerian stocks ended the second trading session of the week on a bearish note amid profit-taking across the market spectrum.
- Downtrend was driven by price depreciation medium and large capitalized stocks amongst which are; ETI, FIDSON, UACN.
- That being said, Nairametrics envisages cautious buying on the account that certain market indicators reveal investors are taking some of their gains across the market spectrum.
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