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Stock Market

GTBank, Dangote Cement, CAP record gains, Investors post N7 Billion gain

NEIMETH led 17 Gainers as against 16 Losers topped by INTBREW at the end of today’s session

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investors on NSE, Stock to watch this week, Airtel Africa

Nigerian bourse ended the first trading session of the week on a relatively solid note.

The All Share Index (ASI) gained 0.05% to close at 25,605.59 points, as against the +0.28% upsurge recorded last Friday. Its Year-to-Date (YTD) returns currently stands at -4.61%.

NSE market capitalization presently stands at N13.358 trillion. Investors’ profits from today’s trading session stood at N7.11 billion.

READ: Non-Performing loans in Nigerian Banks rise to N1.21 trillion in H1 2020

  • Nigerian bouse trading turnover also printed positive numbers, closing volume surged by +20.82%, as against the -10.04% plunge recorded on Friday. CUSTODIAN, GUARANTY, and WAPCO were the most active to boost market turnover.
  • LAWUNION leads the list of active stocks that recorded an impressive volume spike at the end of Monday’s trading session.
  • Market breadth closed positive, as NEIMETH led 17 Gainers as against 16 Losers topped by INTBREW at the end of today’s session – an unimproved performance when compared with the previous outlook.

READ: STANBIC IBTC posts Profit After Tax of N45.2 billion in H1 2020

GTBank 728 x 90

Top gainers

1. NEIMETH up 9.55% to close at N1.95
2. CAP up 6.67% to close at N16.8
3. WAPCO up 1.95% to close at N13.05
4. DANGCEM up 0.75% to close at N135
5. GUARANTY up 0.40% to close at N25.1

READ: Zenith Bank, Unilever, Okomu Oil record losses as investors lose N39.2 billion

Top losers

1. INTBREW down 8.57% to close at N3.2
2. UAC-PROP down 8.42% to close at N0.87
3. FCMB down 7.73% to close at N2.03
4. FIDSON down 5.41% to close at N3.5
5. STANBIC down 1.25% to close at N39.5

Outlook

Nigerian bourse rallied slightly higher amid crude oil prices picking up, although the surge in COVID-19 infection rates rattled local investors, as stock traders remained wary on the prevailing macro across Nigeria’s international market.

  • That said, significant buying pressures were observed in CAP and GTBank, as year-to-date losses now stand at -4.61%.
  • Nairametrics, anticipate low market volatility in the coming days, on the basis that a relative amount of institutional investors remain on the sidelines.

Olumide Adesina is a French-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment Trading. Member of the Chartered Financial Analyst Society. Behavioral Finance, Duke University. You can follow Olumide on twitter @tokunboadesina or email [email protected]

1 Comment

1 Comment

  1. Amaka Owoh

    September 15, 2020 at 6:20 pm

    I am impressed with Nairamerics. They have carved a niche.

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Market Views

Nike stocks post gains, women’s apparel division grow by 200%

Nike has used the COVID-19 pandemic as leverage to expand its digital business as it reported a surge in its in online sales.

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Nike, the most valuable fashion brand in the sports business, saw its stock price rising on Tuesday, as the company reported an 82% surge in online sales and offered an impressive outlook that calls for demand to grow through the holidays.

Nike has used the COVID-19 pandemic as leverage to expand its digital business, and its women’s apparel division grew by nearly 200%. Parents stocked up on back-to-school items, and its business picked up in key markets like China.

Highlights of the results 

First-quarter reported revenues were $10.6 billion, down 1 percent on a reported basis, and flat to the prior year on a currency-neutral basis.

Nike’s direct sales were $3.7 billion, up 12 percent on a reported basis, and up 13 percent on a currency-neutral basis, with growth across all geographies.

Brand digital sales increased 82 percent, or 83 percent on a currency-neutral basis, with double-digit increases across North America, Greater China, and APLA and triple-digit growth in EMEA.

GTBank 728 x 90

Diluted earnings per share for the quarter was $0.95, up 10 percent. Inventory rose 15 percent versus the prior year, but decreased 9 percent versus the prior quarter.

“Our results this quarter continue to demonstrate NIKE’s full competitive advantage, as we strengthen our position in the midst of disruption,” said John Donahoe, President, and CEO, Nike, Inc.

“In this dynamic environment, no one can match our pace of launching innovative products and our Brand’s deep connection to consumers. These strengths, coupled with our digital acceleration, are unlocking NIKE’s long-term market potential.”

COVID-19 pandemic is also helping Nike’s digital potential. The company disclosed that its digital sales now make up at least 30% of its total quarterly sales, a threshold that Nike had previously aimed to hit in three years’ time.

“Nike is recovering faster based on accelerating brand momentum and digital growth,” CFO Matt Friend stated on Tuesday.

Full details of the results can be found here

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Stock Market

MTN Nigeria records gain, investors profit up by N42 billion

REDSTAREX led 9 Gainers as against 17 Losers topped by UBN 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 on Tuesday closed its trading session on an impressive note. The All Share Index gained by +0.31% to close at 25,574.35 points as against +0.01% appreciation recorded on Monday.

  • Its Year-to-Date (YTD) returns currently stands at -4.42%. Nigerian Stock Exchange capitalization presently stands at N13.408 trillion.
  • Investors gained N42.09 Billion.
  • Nigerian bourse trading turnover printed positive as Nigerian Stock Market trading moved and gained 33.61% as against +1.36% uptick recorded on Monday.
  • ZENITHBANK, FBNH, and TRANSCORP were the most active to boost market turnover.
    Market breadth ended negative as REDSTAREX led 9 Gainers as against 17 Losers topped by UBN at the end of today’s session – an unimproved performance when compared with the previous outlook.

Top gainers

  • REDSTAREX up 9.80% to close at N3.25
  • TRANSEXPR up 9.33% to close at N0.82
  • MTNN up 2.41% to close at N123
  • FBNH up 2.04% to close at N5
  • DANGSUGAR up 0.83% to close at N12.1

Top losers

  • UBN down 6.54% to close at N5
  • INTBREW down 2.94% to close at N3.3
  • UACN down 1.56% to close at N6.3
  • PRESCO down 0.80% to close at N49.5
  • DANGCEM down 0.22% to close at N134.7

Outlook

Nigerian bourse unsurprisingly ended higher amid rising oil prices and high buying pressures noticed in NSE30 stocks like Dangote Sugar, First Bank, and MTN Nigeria.

  • Market liquidity was notably higher as institutional investors increased their stakes on decent stock brands.
  • In spite of the sell-offs in global markets, and the dollar strengthening upward, as Local investors are taking advantage of undervalued stocks across the spectrum
  • Nairametrics, however, envisages caution in selecting stocks, as market indicators show high uncertainty in the coming days.

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Stock Market

Nigerian Stocks immune to high sell-offs recorded in Global Stock Market

UACN led 9 Gainers as against 16 Losers topped by CHAMPION at the end of today’s session.

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investors, Bulls gain momentum, as stimulus package lifts global financial markets, Bulls boost global financial market, gold hits 7 years high, Dangote, Tier-1 banks lead the bulls to close Nigerian stock market green

Nigerian stock started the first trading day of the week on a surprisingly bullish note amid record sell-offs in the global market. The All Share Index gained 0.01% to close at 25,574.35 points as against the +0.16% gain recorded on Friday.

  • Its Year-to-Date (YTD) returns currently stands at -4.72%. Nigerian Stock Exchange market capitalization presently stands at N13.365 trillion.
  • Nigerian bourse trading turnover printed higher as volume climbed up by 1.36% as against the 16.31% plunge recorded on Friday. FBNH, CHAMS, and UBA were the most active to boost market turnover.
  • Market breadth closed negative as UACN led 9 Gainers as against 16 Losers topped by CHAMPION at the end of today’s session – an unimproved performance when compared with the previous outlook.

Top gainers

  • UACN up 5.79% to close at N6.4
  • INTBREW up 3.03% to close at N3.4
  • PRESCO up 1.84% to close at N49.9
  • GUARANTY up 0.20% to close at N25.4
  • MTNN up 0.08% to close at N120.1

Top losers

  • CHAMPION down 10.00% to close at N0.81
  • REDSTAREX down 9.20% to close at N2.96
  • JBERGER down 3.23% to close at N15
  • ACCESS down 0.78% to close at N6.4
  • FLOURMILL down 0.76% to close at N19.65

Outlook

Nigerian bourse ended in a near stalemate amid selling pressures recorded in Brent crude futures at U.S trading session. Nigerian bourse, with the help of NSE30 stocks like MTN, GTBank also brought immunity against significant sell-offs recorded on the global stocks market on Monday.

  • At the time this report was drafted, the Dow Jones Industrial Average (DJI) was down 588.64 points, or 2.13%, at 27,068.78. The S&P 500 (SPX) was down 59.80 points, or 1.80%, at 3,259.67, and the Nasdaq Composite (IXIC) was down 142.45 points, or 1.32%, at 10,650.83
  • The CBOE Market Volatility Index (VIX), a measure of investor anxiety, shot up to its highest level in nearly two weeks.
  • Nairametrics envisages cautious buying as market indicators point to higher uncertainty in the coming days coupled with rising cases of COVID-19 infections at Nigeria’s most important international markets.

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