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Stock Market

MTN Nigeria, Zenith Bank post gains, as investors gain N54.42 billion

Nigerian Stock Exchange trading turnover was also positive as volume climbed up by 22.64%.

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Nigeria bourse recorded bullish gains at Tuesday’s trading session.

The All Share Index gained by 0.39% to close at 26,611.96 basis points as against the 0.72% gain recorded on Monday.

Its Year-to-Date (YTD) returns currently stands at -0.86%. Nigerian Stock Exchange market capitalization presently stands at N13.907 Billion. Investors gained N54.42 Billion.

  • Nigerian Stock Exchange trading turnover was also positive as volume climbed up by 22.64% as against +0.32% uptick recorded on Monday. ZENITH BANK, STERLNBANK, and UBA were the most active to boost market turnover.
  • ETRANZACT leads the list of active stocks that recorded an impressive volume spike at the end of today’s session.
  • Market breadth closed positive as WEMABANK led 16 Gainers as against 11 Losers topped by ETRANZACT at the end of today’s session – an unimproved performance when compared with the previous outlook.

Top gainers

  • BUACEMENT up 3.34% to close at N41.75
  • DANGSUGAR up 1.63% to close at N12.5
  • ZENITHBANK up 1.16% to close at N17.5
  • MTN up 0.79% to close at N127.5
  • SEPLAT up 0.50% to close at N400

Top losers

  • ETRANZACT down 9.96% to close at N2.35
  • WAPCO down 6.25% to close at N15
  • LEARNAFRCA down 6.14% to close at N1.07
  • FBNH down2.80% to close at N5.2
  • ARDOVA down 0.90% to close at N11

Outlook

Nigerian bourse continued its impressive upward run amid recent death toll globally reaching a million and significant selling pressures in Nigeria’s major export product (Crude Oil).

  • Notably, NSE30 Stocks like MTN Nigeria and BUA cement in the past couple of days have experienced a decent amount of buying pressures.
  • Amidst the prevailing bullish run, Nairametrics envisage caution as a recent survey by Nigeria’s Central bank has revealed business organizations were pessimistic about the local economy this month.
  • As inflation level is expected to rise at least in the next two quarters and the borrowing rate is expected to rise in September, October, and the next six months.

GTBank 728 x 90

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment Trading and Financial Market Analysis. Member of the Chartered Financial Analyst Society. You can follow Olumide on Twitter @tokunboadesina or email [email protected]

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Stock Market

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

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Value of shares traded by top 10 stockbrokers up 133% despite COVID-19, investors, Raging Bulls lift Brent Crude price by 10%

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.

Top gainers

  1. FLOURMILL up 9.50% to close at N26.5
  2. CONOIL up 9.81% to close at N17.35
  3. CADBURY up 9.21% to close at N8.3
  4. GUINNESS up 5.63% to close at N16.9
  5. GUARANTY up 1.96% to close at N31.25

Top Losers

  1. WEMABANK down 1.72% to close at N0.57
  2. NEM down 1.46% to close at N2.03
  3. DEAPCAP flat to close at N0.27
  4. UNIONDICON flat to close at N10.95
  5. MOBIL flat to close at N178.3

Outlook
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.

GTBank 728 x 90
  • 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.

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Stock Market

Dangote Cement, Ecobank up, investors gain N42.3 billion

The market breadth index was positive with 27 gainers against 15 losers.

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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%).

Top gainers

  1. CUSTODIAN up 10.00% to close at N5.5
  2. ETI up 7.69%  to close at N4.9
  3. FLOURMILL up 5.22% to close at N24.2
  4. GLAXOSMITH up 4.63% to close at N5.65
  5. DANGCEM up 0.66% to close at N152

Top losers

  1. MORISON down 10.00% to close at N0.54
  2. NASCON down 8.39% to close at N13.1
  3. INTBREW down 4.60% to close at N6.01
  4. NAHCO down 2.38% to close at N2.05
  5. DANGSUGAR down 0.72% to close at N13.7

Outlook

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.

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Stock Market

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.

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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.

Top gainers

  1. INTERNATIONAL BREWERIES PLC. up 18.20% to close N6.30
  2. CUTIX PLC. up 17.28% to close N1.90
  3. NASCON ALLIED INDUSTRIES PLC up 10.00% to close N14.30
  4. JAPAUL OIL & MARITIME SERVICES PLC up 10.00% to close N0.22
  5. IKEJA HOTEL PLC up 9.90% to close N1.11
  6. CONOIL PLC up 9.72% to close N15.80
  7. NEIMETH INTERNATIONAL PHARMACEUTICALS PLC up 6.49% to close N1.97
  8. LIVESTOCK FEEDS PLC. up 6.35% to close N0.67
  9. FIDSON HEALTHCARE PLC up 6.29% to close N3.72
  10. FLOUR MILLS NIG. PLC. up 6.24% to close N23.00

Top losers

  1. N NIG. FLOUR MILLS PLC. down 9.89% to close N4.19
  2. LINKAGE ASSURANCE PLC down 9.09% to close N0.40
  3. ETERNA PLC. down 8.98% to close N4.46
  4. REGENCY ASSURANCE PLC down 8.33% to close N0.22
  5. ROYAL EXCHANGE PLC. down 8.00% to close N0.23
  6. MAY & BAKER NIGERIA PLC. down 7.69% to close N3.00
  7. LASACO ASSURANCE PLC. down 7.14% to close N0.26
  8. ACADEMY PRESS PLC. down 6.90% to close N0.27
  9. CADBURY NIGERIA PLC. down 6.83% to close N7.50
  10. HONEYWELL FLOUR MILL PLC down 6.19% to close N0.91

Outlook

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.

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