U.S. Stock futures started the trading week on a bearish footing, signaling losses at the opening U.S trading session on Monday. U.S stocks were hit by growing concern about new restrictions triggered by rising COVID-19 cases.
What we know; Futures contracts on the S&P 500 Index plunged by 1.51% at the time this report was drafted, pointing to a fourth straight daily decline, the longest stretch of losses for the gauge since the end of February.
Contracts on the Dow Jones Industrial Average and Nasdaq 100 fell 1.85% and 1.5%, respectively.
Quick fact; American Stock futures are simply standardized contracts that global traders use in purchasing or selling the U.S stock in a future date. This means that the U.S stock futures give an insight into what global investors see before the market opens, or after it close
Stephen Innes, Chief Global Market Strategist at AxiCorp, in a note to Nairametrics spoke on the prevailing fundamentals, giving stock bears an edge. Stock futures opened uncertain as investors remain confused about which way to move this morning as lockdown fears take charge with the UK government sounding alarm bells as the Covid-19 curve moves in the wrong direction.
After the initial economic bounce from full-blown lockdowns, both the UK and Europe’s economic trajectory could be entering a gloomy second phase characterized by ongoing social distancing, elevated unemployment, and increasing damage to the supply side.
He also spoke on the parabolic nature of the world’s largest equity market, as the U.S election sets in, by saying;
“However, they remain weighed down by a drip-feed of negativity around Covid-19 resurgence, US fiscal impasse and as the market starts to factor in US election risk in earnest. Retail and hedge funds bought the initial Nasdaq dip after the September 2 carnage. But since then, there has been a noticeable shift in trading behavior where bounces are quickly faded.”
Political tensions also making global investors shaky as Democrats and Republicans prepare to fight over who will be the next Supreme Court justice.
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
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.
- 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.
- FLOURMILL up 9.50% to close at N26.5
- CONOIL up 9.81% to close at N17.35
- CADBURY up 9.21% to close at N8.3
- GUINNESS up 5.63% to close at N16.9
- GUARANTY up 1.96% to close at N31.25
- WEMABANK down 1.72% to close at N0.57
- NEM down 1.46% to close at N2.03
- DEAPCAP flat to close at N0.27
- UNIONDICON flat to close at N10.95
- MOBIL flat to close at N178.3
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.
Dangote Cement, Ecobank up, investors gain N42.3 billion
The market breadth index was positive with 27 gainers against 15 losers.
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%).
- CUSTODIAN up 10.00% to close at N5.5
- ETI up 7.69% to close at N4.9
- FLOURMILL up 5.22% to close at N24.2
- GLAXOSMITH up 4.63% to close at N5.65
- DANGCEM up 0.66% to close at N152
- MORISON down 10.00% to close at N0.54
- NASCON down 8.39% to close at N13.1
- INTBREW down 4.60% to close at N6.01
- NAHCO down 2.38% to close at N2.05
- DANGSUGAR down 0.72% to close at N13.7
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.
Bulls keep Nigerian Stocks fired up W/W amid #EndSARS
Twenty-eight (28) equities appreciated at price during the week, lower than thirty-five (35) equities in the previous week.
Nigerian bourse against all odds remained resilient last week, as it recorded impressive gains. The Nigerian All-Share Index and Market Capitalization both appreciated by 0.13% to close the week at 28,697.06 and N14.999 trillion respectively.
- A total turnover of 1.505 billion shares worth N19.668 billion in 20,552 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1.955 billion shares valued at N22.978 billion that exchanged hands last week in 22,844 deals.
- The Financial Services industry (measured by volume) led the activity chart with 1.196 billion shares valued at N14.950 billion traded in 11,318 deals; thus contributing 79.47% and 76.01%to the total equity turnover volume and value respectively.
- The Conglomerates Industry followed with 97.167 million shares worth N269.045 million in 516 deals. The third place was the Consumer Goods, with a turnover of 77.588 million shares worth N1.928 billion in 3,461 deals.
- Trading in the top three equities namely Guaranty Trust Bank Plc, Access Bank Plc, and United Bank for Africa Plc (measured by volume) accounted for 633.527 million shares worth N10.006 billion in 3,887 deals, contributing 42.08% and 50.87% to the total equity turnover volume and value respectively.
- Twenty-eight (28) equities appreciated at price during the week, lower than thirty-five (35) equities in the previous week. Thirty-five (35) equities depreciated in price, higher than twenty-three (23) equities in the previous week, while ninety-nine (99) equities remained unchanged, lower than one hundred and four (104) recorded in the previous week.
- INTERNATIONAL BREWERIES PLC. up 18.20% to close N6.30
- CUTIX PLC. up 17.28% to close N1.90
- NASCON ALLIED INDUSTRIES PLC up 10.00% to close N14.30
- JAPAUL OIL & MARITIME SERVICES PLC up 10.00% to close N0.22
- IKEJA HOTEL PLC up 9.90% to close N1.11
- CONOIL PLC up 9.72% to close N15.80
- NEIMETH INTERNATIONAL PHARMACEUTICALS PLC up 6.49% to close N1.97
- LIVESTOCK FEEDS PLC. up 6.35% to close N0.67
- FIDSON HEALTHCARE PLC up 6.29% to close N3.72
- FLOUR MILLS NIG. PLC. up 6.24% to close N23.00
- N NIG. FLOUR MILLS PLC. down 9.89% to close N4.19
- LINKAGE ASSURANCE PLC down 9.09% to close N0.40
- ETERNA PLC. down 8.98% to close N4.46
- REGENCY ASSURANCE PLC down 8.33% to close N0.22
- ROYAL EXCHANGE PLC. down 8.00% to close N0.23
- MAY & BAKER NIGERIA PLC. down 7.69% to close N3.00
- LASACO ASSURANCE PLC. down 7.14% to close N0.26
- ACADEMY PRESS PLC. down 6.90% to close N0.27
- CADBURY NIGERIA PLC. down 6.83% to close N7.50
- HONEYWELL FLOUR MILL PLC down 6.19% to close N0.91
Nigerian Stocks remained resilient W/W amid EndSARS protest, falling oil prices W/W, and most importantly looting and destruction of properties carried out by hoodlums at Nigeria’s major economic hubs
- Sequel to the carnage recorded at Nigerian urban areas the first two trading days of the week ended flat, as investors remained on the sidelines, and mid-week sessions saw investors losing over N100 billion.
- However, the bulls strengthened their resolve and overturned previous losses recorded as many NSE30 Stocks exhibit good fundamentals and remained undervalued with respect to other Sub Sahara listed stocks, thereby leading to impressive gains across the market spectrum on Thursday and Friday’s trading sessions.
- That said, Investor sentiments as measured by market breadth remains impressive amid relatively thin market liquidity that has become the norm since the COVID-19 pandemic took a hit on Africa’s largest economy.
- Nairametrics, envisage cautious buying amid growing geopolitical uncertainty across Nigerian borders, which continue to put pressure on Nigeria’s major export earning product, crude oil..in spite of OPEC compliance effort in recent weeks.