Nigerian stock market closed in a near stalemate trading session on Tuesday.
The All Share index gained slightly by 0.02% to 28,344.04 points.
- A total volume of 535.8 million units of shares, valued at N5.01billion exchanged hands in 4,498 deals. REGALINS finished as the most traded shares by volume at 245.7million units, while GUARANTY topped the market value list at N3.00billion.
- The market breadth index was positive with 18 gainers against 15 losers. ETERNA (9.77%) and INTBREW (9.56%) led the Gainers chart for the day, while ETRANZACT (-9.79%) and CUSTODIAN (-4.76%) closed top losers.
- Across sectors, three of the five indexes under our coverage gained. Price appreciation in INTBREW (+9.56%), CADBURY (+1.40%), and NB (+1.03%) improved the NSE Consumer Goods Index by +0.88%.
- The NSE Insurance and Oil & Gas Indexes followed to gain 0.34% and 0.11% respectively. Conversely, the Banking index depreciated by -1.18%% on the back of sell-offs in UBA (-2.94%) and GUARANTY (-2.48%), while the Oil and Gas Index closed flat.
INTBREW up 9.56% to close at N4.7
ETERNA up 9.77% to close at N4.38
STANBIC up 3.53% to close at N44
CADBURY up 1.40% to close at N7.25
NB up 1.03% to close at N49.1
ETRANZACT down 9.79% to close at N2.12
CUSTODIAN down 4.76% to close at N5
AFRIPRUD down 3.75% to close at N5.39
UBA down 2.94% to close at N6.6
GUARANTY down 2.48% to close at N29.55
Nigerian bourse rose slightly higher amid growing unrest among Nigerian youths on Police reforms.
- Buying pressures from Stanbic, Cadbury, Nigerian Breweries neutralized significant selling pressures noticed in GTBank, UBA, and Custodian.
- Nairametrics envisages cautious buying, as recent price action bias tilts toward an overbought position.
Dangote Cement, Lafarge drag Industrial Index up by 2.84% to close the second week in green
The NSE Industrial Index appreciated by 2.84% during the week to close the week 57.03 index points higher.
The Nigerian Stock Exchange Industrial Index appreciated by 2.84% during the week to close at 57.03 index points higher, as shares of Dangote Cement, Lafarge, WAPCO dragged the index to close the second week of 2021 higher, amid renewed buying interest by local investors.
Checks by Nairametrics revealed that the NSE Industrial index, as of close of trading activities on Friday, stood at 2,062.29 index points from 2,005.26 index points at the open of trade on Monday 11th January 2021.
What you should know
- The NSE Industrial Index was designed to provide an investable benchmark to capture the performance of the Industrial Sector. It comprises the most capitalized and liquid companies in the industrial sector and is based on the market capitalization methodology.
- The index monitors the performance of ten industrial companies on the Nigerian Stock Exchange which includes, Dangote, BUA and Chemical Allied Products.
- Consequently, the performance of the companies was relatively balanced as the index closed on a positive note with 5 gainers relative to 5 losers. MEYER (+10.00%) led the gainer’s chart for the week, while CUTIX (-8.75%) was the top loser.
MEYER up 10.00% to close at N0.55
PORTPAINT up 9.84% to close N2.68
WAPCO up 6.73% to close at N23.80
CAP up 3.25% to close at N20.65
DANGCEM up 2.31% to close at N230.20
CUTIX down 8.75% to close at N2.19
NOTORE down 4.00% to close at N60.00
BETAGLAS down 2.17% to close at N54.20
BERGER down 1.36% to close at N7.25
BUA CEMENT down 1.25% to close at N79.00
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%.
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.
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.
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.