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Stock Market

Dangote Cement, Nigerian Breweries drop, investors lose N46 billion

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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 exchange closed today’s closed on a negative note. The All Share Index dropped by 0.31% to settle at 28,546.22 index points. Also, the aggregate market value of all quoted equities dipped from its opening value of N14.966 trillion to settle at N14.920 trillion.

  • Consequently, the Year-to-date return currently stands at 6.37%.
  • A total volume of 569.3 million units of shares, valued at N4.91billion exchanged hands in 6,101 deals, as ETERNA (+10.00%) finished the most traded shares by volume at 112.3million units, while ZENITHBANK (+2.81%) topped the market value list at N1.50billion.
  • Market breadth was inverse of the broad index as 26 stocks advanced against 17 decliners. ETERNA & UNILEVER led the gainers’ chart for the day, while NB & CONOIL finished top losers.
  • Across sectors, two of the five indexes under our coverage gained. Price appreciation in ETI (+8.54%), FCMB (+5.71%), and ACCESS (+4.64%) moved the NSE Banking index up by 2.88%, while the NSE Insurance followed to gain 1.29%.
  • On the flip side, the Industrial, Consumer Goods, and Oil & Gas indexes dipped by -2.72%, 1.30%, and -0.53% respectively, on the back of price shed in DANGCEM (-4.75%), NB (-7.07), CONOIL (-5.57%) and ARDOVA (-2.73%).

Top gainers

  • UNILEVER up 9.76% to close at N13.5
  • ETI up 8.54% to close at N4.45
  • GUARANTY up 3.23% to close at N32
  • ZENITHBANK up 2.81% to close at N20.1
  • AIRTELAFRI up 2.50% to close at N410.2

Top losers

  • NB down 7.07% to close at N48.6
  • CONOIL down 5.57% to close at N14.4
  • DANGCEM down 4.75% to close at N150.5
  • ARDOVA down 2.73% to close at N12.45
  • BUACEMENT down 0.84% to close at N41.4

Outlook

Nigerian bourse recorded its second losses in 14 trading days amid Bullish gains recorded in the crude oil market, as Brent crude price edge closer to $43/Barrel.

  • Selling pressure among Nigerian top capitalized stocks neutralized impressive showing by Nigerian banks, as Nigerian bourse market capitalization dipped below N15 trillion
  • Nairametrics remain neutral on market direction in the midterm over growing concern about Nigeria’s debt, as it came to the limelight recently when the Lagos Chamber of Commerce and Industry disclosed the growing level of Nigeria’s debt was unsustainable in view of the dwindling oil production and such debt might hit N34 trillion by the year-end.

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

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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Market Views

GTBank, Dangote Cement keep Bulls roaring high

Market breadth closed positive as NASCON led 20 Gainers as against 6 Losers topped by NNFM at the end of today’s session.

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Nigerian stock market ended its last trading session on an impressive note. The All Share Index gained 0.47% to close at 28,697.06 points as against +0.40% appreciation recorded on Thursday.

Nigerian Stock Exchange market capitalization now stands at N14.99 Trillion. Its Year-to-Date (YTD) returns currently stands at +6.91%.

  • However, the Nigerian bourse trading turnover fell short of expectation as volume moved dipped by 9.11% as against -4.67% downtick recorded on Thursday. ACCESS, GUARANTY, and UBA were the most active to boost market turnover.
  • AFRINSURE leads the list of active stocks that recorded an impressive volume spike at the end of today’s session.
  • Market breadth closed positive as NASCON led 20 Gainers as against 6 Losers topped by NNFM at the end of today’s session – an improved performance when compared with the previous outlook.

Top gainers

  1. NASCON up 10.00% to close at N14.3
  2. PZ up 7.32% to close at N4.4
  3. ZENITHBANK up 1.69% to close at N21
  4. GUARANTY up 1.50% to close at N30.45
  5. DANGCEM up 0.67% to close at N151

Top losers

  1. NNFM down 9.89% to close at N4.19
  2. NPFMCRFBK down 4.29% to close at N1.34
  3. HONYFLOUR down 4.21% to close at N0.91
  4. UNIONDAC down 3.70% to close at N0.26
  5. VITAFOAM down 3.23% to close at N6

Outlook

GTBank 728 x 90

Nigerian bourse continued its bullish run amid a shutdown of economic activities at Nigeria’s economic nerve center Lagos and Rivers amid ongoing curfew put in place in order to calm hostilities prevalent in some areas.

  • Bulls seem to be rallying high amid soaring crude oil prices, and high buying pressure noticed in some Nigerian blue-chip stocks like Dangote Cement and GTBank.
  • However, Nairametrics expects you to seek the advice of a certified stockbroker when choosing stocks to buy, as some of these stocks exhibit cyclic returns in principle.

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Market Views

#EndSARS Bull return to Nigerian Stock Market amid Looting

The market breadth index was positive with 20 gainers against 10 losers.

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investors, Bulls gain momentum, as stimulus package lifts global financial markets, Bulls boost global financial market, gold hits 7 years high, Dangote, Tier-1 banks lead the bulls to close Nigerian stock market green

Nigerian bourse advanced today by 0.40%, to close at 28,563.87 points. The All Share Index was up by 0.40%, with the year-to-date return at +6.39% and market capitalization at N14.92 trillion. Investors gained N59.78 Billion.

  • A total volume of 311.3 million units of shares, valued at N469billion exchanged hands in 3,375deals. GUARANTY was the most traded shares by volume and value at 77.8million units and N2.33billion.
  • The market breadth index was positive with 20 gainers against 10 losers. UACN (+8.33%) led the gainer’s chart today, while GLAXOSMITH (-3.57%) topped the laggards.
  • All sectors were bearish – Insurance, Oil & Gas, Consumer Goods, and Banking were lowered by 0.93%, 0.07%, 0.06%, and 0.03%, respectively save for the Industrial sector index which appreciated by +0.15%.

Top gainers

  1. UACN up 8.33% to close at 8.33%
  2. STANBIC up 2.33% to close at 2.33%
  3. DANGSUGAR up 2.22% to close at N13.8
  4. WAPCO up 2.02% to close at N17.65
  5. MTNN up 1.45% to close at 1.45%

Top losers

  1. GLAXOSMITH down 3.57% to close at N5.4
  2. INTBREW down 2.95% to close at N6.25
  3. CAP down 1.07% to close at N18.5
  4. FBNH down 0.82% to close at N6.05
  5. ZENITHBANK down 0.72% to close at N20.65

 

Outlook

Nigerian bourse against all odds recorded impressive gains. The gain was recorded amid, falling crude oil prices, and significant records of looting at a number of Nigerian urban areas triggered by the ongoing political unrest in Nigeria.

  • Buying pressure from NSE30 stocks like MTN Nigeria, Stanbic IBTC Bank, Dangote Sugar, UACN lifted the All Share Index value upward.
    Investors maid the prevailing macro are repositioning their portfolio for Q3 earning results amid a drop in market liquidity at Thursday’s trading session.
  • Nairametrics, still envisage readers to be cautious about choosing stocks to buy, on reports coming from the Lagos Chamber of Commerce and Industry (LCCI) revealing Nigeria had lost more than N700 billion in economic value since the #EndSARS protests started a few weeks ago.

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