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Stock Market

Nigerian Stocks 12-day winning streak ends, investors lose N143.75 billion

Market breadth closed negative as BERGER led 21 Gainers as against 31 Losers topped by UNILEVER.

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Nigerian Stock Exchange, Nigerian Stocks, Daily market summary, NSE, Bourse bows to bears as ASI dip 0.55% on Friday, NSE: Bears dominant reign continues as ASI shed 4.91% on Tuesday, Bearish trend persists at Nigerian Stock Exchange, as investors lose N456 billion, Bears return, Nigeria’s local bourse drops 0.12%, Bears return Nigeria's ASI index down 3.12% Investors lose N370 billion, Bulls lift Nigerian bourse up 0.10%, as trading volume picks up,  BUACEMENT, CADBURY, WAPCO Bring the Bears to Party, Investors Lose N198.05 Billion

Nigerian bourse 12-day winning streak came to an end on Wednesday, as it ended on a negative note.

The All Share Index dropped by 0.95% to close at 28,634.35 points as against +4.92% appreciation recorded on Tuesday. Nigerian Stock exchange capitalization presently stands at N14.97 Trillion. Investors lose N143.75 billion.

Its Year-to-Date (YTD) returns currently stands at +6.68%.

Nigerian bourse trading turnover closes positive as volume moved up by +11.13% as against the +24.10% uptick recorded in the previous session

FBNH, ZENITH BANK, and UBA were the most active to boost market turnover.

Market breadth closed negative as BERGER led 21 Gainers as against 31 Losers topped by UNILEVER at the end of today’s session an unimproved performance when compared with the previous outlook.

Top gainers

  • CAP up 9.36% to close at N18.7
  • NASCON up 9.59% to close at N12
  • BERGER up 9.84% to close at N6.7
  • INTBREW up 8.39% to close at N4.65
  • AFRIPRUD up 4.55% to close at N5.75

Top Losers

  • MTNN down 1.54% to close at N140.5
  • UNILEVER down 9.89% to close at N12.3
  • ZENITHBANK down 6.01% to close at N19.55
  • GUINNESS down 5.66% to close at N15
  • WAPCO down 4.27% to close at N16.8

Outlook

The 12-day winning streak at Sub Sahara’s biggest Exchange came to an end, as Nigerian Stocks recorded losses with market capitalization remaining around N15 trillion.

Selling pressure witnessed in notable Nigerian Stocks, like MTN Nigeria, Zenith Bank, Unilever

Market liquidity remained impressive as Institutional investors restrategize their portfolio investments for Q4, 2020.

Nigeria’s major export, crude oil printed lower as prices of crude near $41/Barrel, after President Trump canceled the stimulus deal long-awaited by global investors.

Nairametrics however envisages caution, among these impressive gains recorded in the past weeks, as Africa’s largest economy remains vulnerable via a report credited to Fitch Ratings buttressed the FX demand backlog and persistence in external vulnerability are adequately captured by the ‘B’ rating.

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. 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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