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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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Closed Period

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.

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment Trading. Featured Financial Market Analysis for a Fortune Global 500 Company. Member of the Chartered Financial Analyst Society. Follow Olumide on Twitter @tokunboadesina or email [email protected]

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MTN, UBA, UNILEVER tick up, investors gain N43 billion

With 18 gainers and 16 losers, most sectoral indices rode on the back of gains by mid and large-cap stocks to close positive.

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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 Stocks continued its bullish run at the last trading session of the week. The Nigerian All-Share index rose by 0.24%. Consequently, the year-to-date return advanced to 29.94%.

The All Share Index (ASI), advanced from its opening index of 34,803.00 points to close at 34,885.51 points. The aggregate market value of all quoted equities also increased from its opening value of N18.184 trillion to close the week at N18.227 trillion.

  • A total volume of 190.2 billion units of shares, valued at N3.33billion exchanged hands in 3,976 deals. TRANSCORP was the most traded shares by volume with 37.4 million units, while MTNN topped by value at N1.79billion.
  • The NSE Consumer Goods and Oil & Gas indexes leaped by 0.14 and 0.06% respectively. On the contrary, the NSE Insurance and Banking Indexes depreciated by 1.93 and 0.23% respectively while the Industrial Goods Index closed flat.
  •  With 18 gainers and 16 losers, most sectoral indices rode on the back of gains by mid and large-cap stocks to close positive.  NAHCO (+9.09%) was the top gainer today, while PORTPAINT (+9.09%) led the laggards today.

Top gainers

  1. NAHCO up 9.09% to close at N2.4
  2. FIDSON up 7.25% to close at N5.47
  3. UNILEVER up 5.77% to close at N13.75
  4. UBA up 1.82% to close at N8.4
  5. MTNN up 1.31% to close at N155

Top losers

  1. PORTPAINT down 8.42% to close at N2.61
  2. MANSARD down 6.40% to close at N2.34
  3. NEM down 3.14% to close at N2.47
  4. GUINNESS down 1.55% to close at N19
  5. GUARANTY down 1.13% to close at N35

Outlook

Nigerian stocks recorded gains amid falling oil prices prevailing at the US trading session on Friday.

  • Major gains by large capitalized stocks that include MTN Nigeria, Unilever, UBA added N43 billion to the Nigerian Stock market capitalization.
  • Nairametrics envisage cautious buying amid significant price volatility currently in play at the Nigerian Stock market.

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GTBank, Mobil, Cadbury tick up, amid sell-offs in First Bank, UBA

The market breadth closed flat as NCR led 21 Gainers as against 21 Losers topped by AFRIPRUD at the end of today’s session.

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Nigerian Stocks ended Thursday’s trading session on a slightly bullish note. The All Share Index gained +0.10% to close at 34,803 points, as against the 1.25% gain seen on Wednesday. Its Year-to-Date (YTD) returns currently stands at +29.66%.

Nigerian Stock Exchange trading turnover ended on a bearish note, taking to account that volume dipped by 40.78% as against the +19.02% gain recorded in the previous session.

  • ZENITHBANK, TRANSCORP, and ACCESS were the most active to boost market turnover.
  • The sectorial performance also improved slightly as the Oil & Gas, Insurance, Consumer Goods and banking Indexes advanced by +2.77%, +0.97%, +0.61%, and +0.02 respectively, while the industrial index fell by -0.03%.
  • Sector performance
  • NSE Oil & Gas Index: Up by +2.77%, as a result of price appreciation in MOBIL (+9.89%) and OANDO (+9.23%).
  • NSE Insurance Index: Advanced by +0.97%, on gains in WAPIC (+7.32%), CHIPLC (+6.90%), and AIICO (+5.26%).
  • NSE Consumer Goods Index: Improved by +0.61%, due to renewed buy interest in INTBREW (+9.62%), CADBURY (+9.09%) and GUINNESS (+7.22%).
  • NSE Banking Index: Flat at 0.02%, saved by GUARANTY (+2.61%).
  • NSE Industrial Index: Slipped by -0.03% due to UNIONDAC (-7.41%).

The market breadth closed flat as NCR led 21 Gainers as against 21 Losers topped by AFRIPRUD at the end of today’s session – an unimproved performance when compared with the previous outlook.

Top gainers

  1. INTBREW up 9.62% to close at N7.18
  2. MOBIL up 9.89% to close at N208.8
  3. CADBURY up 9.09% to close at N9.6
  4. GUINNESS up 7.22% to close at N19.3
  5. GUARANTY up 2.61% to close at N35.4

Top losers

GTBank 728 x 90
  1. AFRIPRUD down 5.76% to close at N5.89
  2. UBN down 5.17% to close at N5.5
  3. DANGSUGAR down 3.15% to close at N20
  4. UBA down 2.94% to close at N8.25
  5. FBNH down 2.68% to close at N7.25

Outlook

Nigerian bourse ended the fourth trading session on a slightly positive note amid falling oil prices prevailing at the U.S trading session.

  • Top gains from GTBank, Mobil, Cadbury, and Guinness, neutralized the losses that came from First Bank, UBA, and Union Bank.
  • Nairametrics envisage cautious buying on prevailing market conditions seen in Nigeria’s key international markets, particularly Europe.

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Slack gains 22% on Salesforce buyout offer

Salesforce is reportedly interested in buying Slack, the popular workplace for many leading firms.

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Slack gains 22% on Salesforce buyout offer

Salesforce is reportedly interested in buying Slack. The popular workplace for many leading firms like Amazon has sent shares of the smaller firm up over 22% at the most recent trading session.

In a report credited to WSJ, the companies could reach a deal within days and possibly by the time Salesforce reports its third-quarter financial results, Tuesday.

READ: Jumia sees competition from startups in growing African e-commerce market

The anticipated deal has got global investors excited as Slack shares gained over 37%, according to data retrieved from Bloomberg. Slack is worth $40.70 per share as of the time of writing, valuing it at around $23.22 billion.

Salesforce the world’s biggest seller of customer relationship software is led by co-founder Marc Benioff, a pioneer in providing software via the cloud through a subscription.

GTBank 728 x 90

READ: DPR approves new Liquefied Petroleum Gas guidelines for investors, operators

What this means

Slack is popularly known among many firms for its user-friendly interface. It empowers global businesses to embed workflows. Stock experts anticipate such a deal would be beneficial to the Salesforce family of products, which spans marketing, sales, service, and more.

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READ: Microsoft Teams’ rival, Slack shares drop on withdrawal of full-year billings guidance

However, at the time of writing of Salesforce fell around 5% as some investors in the American-based SaaS pioneer were not so delighted about such synergy or perhaps worried about the price that would be required to bring such business to Salesforce fold.

READ: Ripple adds Bank of America to payment network

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