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Nigerian Breweries remain Investors delight W/W

Twenty-eight (28) equities depreciated in price, lower than thirty-one (31) equities in the previous week.

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Nigerian banking stocks remain most liquid stocks, as investors gain N25.1 billion, DANGOTE CEMENT, OKOMUOIL and GUINNESS drag Nigerian Stock market down,  SEPLAT, GUINNESS, Breaks Nigerian Bourse Support Levels, Investors Lose N49 Billion  

Nigerian Stock Market against headwinds printed bullish this week cumulatively.

The NSE All-Share Index and Market Capitalization appreciated by 2.92% to close the week at 26,319.34 and N13.755 trillion respectively.

A total turnover of 1.567 billion shares worth N20.559 billion in 18,396 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1.139 billion shares valued at N12.692 billion that exchanged hands last week in 17,109 deals.

Explore the Nairametrics Research Website for Economic and Financial Data

  • The Financial Services industry (measured by volume) led the activity chart with 1.178 billion shares valued at N9.180 billion traded in 9,900 deals; thus contributing 75.14% and 44.65% to the total equity turnover volume and value respectively.
  • The Consumer Goods Industry followed with 90.002 million shares worth N1.688 billion in 2,715 deals. The third place was the ICT industry, with a turnover of 84.667 million shares worth N5.786 billion in 771 deals.
  • Trading in the top three equities namely Sterling Bank, FBN Holdings Plc, and Zenith Bank Plc.(measured by volume) accounted for 612.805 million shares worth N4.311 billion in 3,739 deals, contributing 39.10% and 20.97% to the total equity turnover volume and value respectively.
  • Thirty-five (35) equities appreciated at price during the week, higher than thirty-two (32) equities in the previous week.
  • Twenty-eight (28) equities depreciated in price, lower than thirty-one (31)equities in the previous week, while one hundred (100) equities remained unchanged, same as one hundred (100) equities recorded in the previous week.

Top gainers

NIGERIAN BREW. PLC. up 25.12% to close at N52.55
CORNERSTONE INSURANCE PLC up16.39% to close at N0.71
LAFARGE AFRICA PLC. up 15.77% to close at N15.05
CONSOLIDATED HALLMARK INSURANCE PLC up 9.68% to close at N0.34
TRANS-NATIONWIDE EXPRESS PLC. up 9.33% to close at N0.82
INTERNATIONAL BREWERIES PLC. up 9.09% to close at N3.60
PRESTIGE ASSURANCE PLC up 9.09% to close at N0.60
FLOUR MILLS NIG. PLC. up 8.59% to close at N21.50
PRESCO PLC up 8.16% to close at N53.00
LASACO ASSURANCE PLC. up 8.00% to close at N0.27

Specta

READ: Flour Mills to issue bond within 2 months as it takes advantage of market rate

Top Losers

AIICO INSURANCE PLC. down 20.00% to close at N0.72
RED STAR EXPRESS PLC down 16.90% to close at N3.00
OANDO PLC down 11.74% to close at N2.03
N NIG. FLOUR MILLS PLC. down 10.00% to close at N4.05
CHAMPION BREW. PLC. down 10.00% to close at N0.81
UNIVERSITY PRESS PLC. down 9.55% to close at N1.42
DAAR COMMUNICATIONS PLC down 9.09% to close at N0.30
WAPIC INSURANCE PLC down 8.11% to close at N0.34
LINKAGE ASSURANCE PLC down 7.32% to close at N0.38
ROYAL EXCHANGE PLC. down 6.90% to close at N0.27

READ: NSE’s market capitalization rises to N13.2 trillion, as investors gain N46 billion

Outlook

Surprisingly, the Nigerian bourse against all prevailing macros printed impressive gains, as Investors cashed in with over N390 billion WoW. Buying pressures notably from Nigerian Breweries, Flour mills, Lafarge lifted, investors morale across the market spectrum

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  • In spite of falling crude oil prices and prevailing dollar scarcity, Nairametrics observed significant Institutional buying in some notable blue-chip stocks, as Investors re-align their stock portfolios ahead of Q4,2020
  • That said, the surprising interest rate reduction of 100 basis points by Nigeria’s central bank this week, could partly be responsible for the lukewarm performance of Nigerian banking stocks this week, as no Nigerian banking stock made the top ten gainers list, on the bias that interest rates play a very important role in their profit margins in the mid-term
  • However, in spite of the bullish run recorded in the fast-growing equity market, Nairametrics, envisage cautious buying, as market liquidity remain relatively weak overall.

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

Flour Mills Nigeria gain N28 billion on NSE in 10 trading days

Flour mills gained N28 billion on the Nigeria Stock Exchange in just ten trading sessions, as the share price rose by 26.15%.

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Flour Mills makes one of the largest contributions to COVID-19 relief fund

Shares of Flour Mills Nigeria Plc, Nigeria’s leading food business company, have gained N28 billion on the Nigeria Stock Exchange, in just 10 trading days this year.

After a preview of the performance of the shares of Flour Mills, Nairametrics discovered its shares increased by 26.15% within the review period.

The increase witnessed in the company’s share price was triggered by renewed buying interests among investors for the shares of Flour Mills, on the back of its robust fundamental strength, and the impressive financial results the food and agro-allied company delivered in 2020.

Checks by Nairametrics also revealed that the company has gained N27,882,581,314.00 on the NSE so far this year. This is logical as the buying interest in the shares of the company saw the market capitalization increase from N106.61billion on the 4 January 2021, to N134.49billion at the close of trade on the exchange today.

What you should know

  • The impressive valuation and the current price of the company, which some investors see as under priced given the solid fundamental strength of the company, spiked buying interest in its shares.
  • Former GMD of Flour Mills, Paul Miyonmide and the Vice-Chairman of the Company, Chief Emmanuel Ukpabi, acquired additional shares of the company worth millions of naira since the company released its Q2 Financial Report on 27 October 2020.

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Stock Market

Access Bank shares gain N44.4 billion in first 10 days of trading

Market capitalization moved from N300.36 billion as at the 4th of January, 2021 to N346.57 billion.

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Access Bank, Scam Alert: Access Bank issues warning to customers over fraudulent acts , Director, West Africa region, IE, Onyekachi Eke, Access Bank lists N30 billion bonds on NSE , Access Bank, Zenith Bank Plc, Access Bank Plc and United Bank for Africa Plc, Zenith Bank Plc, Access Bank Plc and United Bank for Africa Plc, A new BVN guideline to curb e-fraud is coming soon - CBN announces , Access Bank donates 66 laptops to children in underserved communities, Access Bank postpones closed period for 2019 Year-End financial statement, Access Bank dispels rumour about its CEO being arrested, Access Bank set to establish subsidiary in Cameroon after acquiring Kenyan bank, Access Bank finally acquires Kenyan bank, Transnational Bank Plc, Herbert Wigwe: We are clamping down on malaria with the Malaria-To-Zero Initiative, Access Bank to list N15 billion green bond on Luxembourg Stock Exchange 

The shares of Access Bank Nigeria Plc have gained N44.4 billion since the commencement of trading at the Nigerian Stock Exchange (NSE) market on the 4th of January 2021 – 10 days of transaction.

This was uncovered by Nairametrics after tracking the performance of the shares of the bank on the floor of the NSE.

This is sequel to efforts by the group to further expand its territory and consolidate on its growth potentials, evident by its obtaining of regulatory approval to operate as a holding company and completion of the Cavmont Bank Limited deal, as reported by Nairametrics.

Nairametrics learnt that a combination of impressive financial performance by the group, evident by its 9M 2020 results, and the increased buying interest in its shares, all contributed to the upward movement of the bank’s market capitalization, from N300.36 billion to N344.79 billion, indicating a gain of 14.8% in the review period.

What you should know

  • Access Bank Plc had earlier reported a Profit After Tax of N102.3 billion for 9M 2020, up by 15.7%
  • At the time of this report, Access Bank Plc shares traded at N9.7, compared to an opening price of N8.45, indicating an increase of 14.8%.
  • The outstanding shares of the firm currently stand at 35,545,225,622 units.

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Spotlight Stories

MTN, NB keep Nigerian stocks up, investors gain N112 billion

UACN (+10.00%) led the gainer’s chart today, while ARDOVA (9.84%) was the top loser.

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Nigerian bourse extended its positive rally at Friday’s trading session, appreciating further by N112 billion, amid increased buying interest. Specifically, the market capitalization inched higher by 0.52% to close at N21.530 trillion from N21.418 trillion on Thursday.

In the same vein, the All-Share Index garnered 0.52% to close at 41,176.14 compared with 40,963.14 on Thursday.

Consequently, the market breadth remained positive with 42 gainers relative to 12 losers. UACN (+10.00%) led the gainer’s chart today, while ARDOVA (9.84%) was the top loser.

  • Also, the total volume of shares transacted improved with an exchange of 666.60 million shares worth N6.39 billion in 6,980 deals.
  • JAPAULGOLD was the most traded shares by volume with 115.8million units, while GUARANTY and ACCESS topped by value at N1.27b and N461 respectively.

Top Gainers

  1. UACN up 10.00% to close at N8.25
  2. FLOURMILL  up  9.33% to close at N32.8
  3. NB up 3.36% to close at N60
  4. PRESCO up 2.78% to close at N74
  5. MTNN up  1.19% to close at N170

Top Losers

Specta
  1. ARDOVA down 9.84% to close at N19.7
  2. MAYBAKER down 5.71% to close at N3.63
  3. STERLNBANK down 1.96% to close at N2
  4. ZENITHBANK down 0.38% to close at N26.3
  5. UNILEVER down 0.37% to close at N13.45

Outlook

Nigerian Stocks ended the trading session on an impressive note.

  • The uptrend was driven by price appreciation in large capitalized stocks among which are; UACN, Flourmill, MTN Nigeria Communications, NB and PRESCO.
  • 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.

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