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Stock Market

FCMB, ACCESS, UBA most traded stocks by turnover, ASI drops by 0.19%

BERGER led 17 Gainers as against 19 Losers topped by NEM at the end of today’s session.

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Nigerian bourse on Wednesday closed bearish amid positive prevailing macros. The All Share Index plunged by 0.19% to close at 25,550.31 points as against a -0.03% drop recorded Tuesday.

  • Nigerian Stock exchange market capitalization presently stands atN13.353 trillion. Its Year-to-Date (YTD) returns currently stands at -4.81%.
  • Nigerian Stock Exchange trading turnover printed negative on Wednesday, as trading volume fell by 13.59% as against a -4.63% drop recorded on Tuesday trading session.
  • FCMB, ACCESS, and UBA were the most active to boost market turnover.
  • Market breadth closed negative as BERGER led 17 Gainers as against 19 Losers topped by NEM at the end of today’s session – an unimproved performance when compared with the previous outlook.

READ: Fidelity Bank to raise N50 billion in bonds in Q4 to refinance existing debts

Top gainers

  • BERGER up 7.44% to close at N6.5
  • UBN up 7.00% to close atN5.35
  • NB up 2.31% to close at N42
  • VITAFOAM up 1.75% to close at N5.8
  • CAP up 0.59% to close at N17.1

Top losers

  • NEM down 9.78% to close at N2.03
  • CADBURY down 8.39% to close at N7.1
  • INTBREW down 6.25% to close at N3
  • WAPCO down 3.70% to close at N13
  • ZENITHBANK down 1.16% to close at N17

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

Outlook

In spite of Crude oil prices gaining more than 2% and Brent crude prices hitting pass $41/barrel, the All Share Index closed negative at Wednesday’s trading session.

  • Significant selling pressures from Cadbury, International Breweries dampened traders’ morale in the relatively low liquid stock market.
  • Nairametrics, envisage cautious buying as market indicators, point to low market liquidity in the coming days.

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

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.

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

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.

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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.

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Nigerian Breweries brings the Bears to party, Investors down N20.5 billion 

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

  1. CHAMS up 9.09% to close at N0.24
  2. ROYALEX up 8.00% to close at N0.27
  3. WEMABANK up 7.69% to close at N0.7
  4. REDSTAREX up 5.77% to close at N3.3
  5. PRESTIGE up 4.55% to close at N0.46

Top losers

  1. LASACO down 9.68% to close at N1.24
  2. FIDSON down 8.41% to close at N4.9
  3. ETI down 6.31% to close at N5.2
  4. MBENEFIT down 5.13% to close at N0.37
  5. 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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