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Market Views

Dangote stocks rally Nigerian stock market to 7th consecutive weekly gain

Forty (40) equities appreciated at price during the week, lower than Sixty-eight (68) equities in the previous week.

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NSE, Gainers and Losers, Nigerian Stock exchange

The Nigerian bourse ended the trading week cumulatively on a bullish note.

The All-Share Index and Market Capitalization appreciated by 1.56 and 1.59% respectively to close the week at 31,016.17 and N16.207 trillion respectively.

READ: Group Executive Director, others acquire over 3.5 million shares of United Capital Plc

  • Similarly, all other indices finished higher with the exception of the NSE-Main Board, NSE Insurance, and NSE Oil/Gas, which depreciated by 0.62%, 1.32%, and 0.77% respectively, while the NSE ASeM Index closed flat.
  • A total turnover of 2.067 billion shares worth N22.64 billion in 25,187 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1.909 billion shares valued at N23.610 billion that exchanged hands last week in 23,578 deals.
  • The Financial Services industry (measured by volume) led the activity chart with 1.575 billion shares valued at N13.725 billion, traded in 14,521 deals; thus, contributing 76.21% and 60.63% to the total equity turnover volume and value respectively.
  • The Consumer Goods Industry followed with 178.57 million shares worth N3.609 billion in 4,669 deals.
  • The third place was the Conglomerate Industry, with a turnover of 102.697 million shares worth N155.195 million in 599 deals.
  • Trading in the top three equities namely Access Bank Plc, FBN Holding Plc, and Zenith Bank Plc (measured by volume) accounted for 686.338 million shares worth N7.599 billion in 4,557 deals, contributing 33.21% and 33.57% to the total equity turnover volume and value respectively.
  • Forty (40) equities appreciated in price during the week, lower than sixty-eight (68) equities in the previous week. Twenty-four (24) equities depreciated in price, higher than Six (6) equities in the previous week; while ninety-seven (97) equities remained unchanged, higher than ninety-four (94) recorded in the previous week.

READ: Standard Alliance Insurance plc: What happened to the most capitalized insurance company of 2010?

Top gainers

  1. LIVESTOCK FEEDS PLC. up 30.86% to close at N1.06
  2. TRANSNATIONAL CORPORATION OF NIGERIA PLC up 19.72% to close at N0.85
  3. DANGOTE SUGAR REFINERY PLC up 19.57% to close at N16.50
  4. CAP PLC up 13.02% to close at N23.00
  5. LASACO ASSURANCE PLC up 12.50% to close at N0.36
  6. CORONATION INSURANCE PLC up 10.00% to close at N0.44
  7. PORTLAND PAINTS & PRODUCTS NIGERIA up 9.59% to close at N2.97
  8. REGENCY ASSURANCE PLC up 9.09% to close at N0.24
  9. DANGOTE CEMENT PLC up 9.06% to close at N174.50
  10. CONSOLIDATED HALLMARK INSURANCE PLC up 8.82% to close at N0.37

READ: GTBank, Cadbury, keep Nigerian Stocks fired up, Investors gain N105.76 Billion

Top losers

  1. INTERNATIONAL BREWERIES PLC down 11.80% to close at N6.50
  2. AXAMANSARD INSURANCE PLC down 9.09% to close at N2.00
  3. LINKAGE ASSURANCE PLC down 8.89% to close at N0.41
  4. CUSTODIAN INVESTMENT PLC down 8.26% to close at N5.55
  5. NEM INSURANCE PLC down 8.07% to close at N2.05
  6. BUA CEMENT PLC down 5.49% to close at N43.00
  7. MUTUAL BENEFITS ASSURANCE PLC down 4.76% to close at N0.20
  8. JULIUS BERGER NIG. PLC down 4.48% to close at N17.05
  9. UNION BANK NIG.PLC down 4.46% to close at N5.35
  10. UNION DIAGNOSTIC & CLINICAL SERVICES PLC down 3.85% to close at N0.25

Outlook

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Nigerian bourse ended the week bullish W/W. In spite of the strong volatility seen lately in global financial markets, Nigerian investors increased their buying pressure across the market spectrum, pushing the All Share Index to its highest point this year, as it hovered above N16 trillion.

READ: Nigerian stocks on 6-day gaining streak, investors gain N154.4 billion WoW

  • Significant buying interests in NSE 30 Stocks like Dangote Stocks, GTBank, triggered the All Share Index to record its seventh-consecutive weekly gain.
  • Nairametrics envisages cautious buying amid expected price swings on the basis that the earning window is closing down, hence stock traders and investors would shift their focus on Tier 1 banks, as their earning results would trigger a significant degree of price volatility.

Explore Data on the Nairametrics Research Website

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Message Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.

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    Market Views

    Ethereum breaks $4000 and 5 Big Takes for the week

    The 2nd week of May promises to be a profitable week, spurred on by the activities of last week.

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    What you should know before investing in Cryptocurrency

    The 2nd week of May promises to be a profitable week, spurred on by the activities last week. Here are the key events that affected the economy and markets last week.

    What are the regulators doing?

    CBN made the news in two major ways. Firstly, the apex bank indefinitely extended the Naira4dollar scheme for diaspora remittances. The initiative rewards recipients N5 for every $1 they receive through IMTOs and commercial banks. It was initially supposed to end on May 8th. Many analysts we have spoken to seem to believe this is another form of naira devaluation.

    Another interesting news from the CBN was its plans to reject the continuous importation of maize in Nigeria.

    READ: Why Ethereum is becoming more attractive than Bitcoin

    What fixed income opportunities are available?

    Last week the DMO (Debt Management Office) announced an offer for subscription of the May 2021 Federal Government Savings Bond to investors.

    The Debt Management Office (DMO), on behalf of the Federal Government has announced the offer for subscription of the May 2021 Federal Government Savings Bond to investors.

    This disclosure is contained in a circular issued by the DMO on May 3, 2021, and can be seen on its website noting that there are 2-year and 3-year savings bonds. The breakdown of the bonds shows that the 2-year FGN savings bond will be due on May 12, 2023, at 7.753% per annum and the 3-year FGN Savings Bond which will be due on May 12, 2024, at 8.753% per annum.

    The offer has an opening date of May 3, with a closing date of May 7. Although this window is closed. Portfolio diversification is critical for any investor and bonds are one of the safest asset classes.

    READ: Nigerian stocks that outperformed Bitcoin, Ethereum and Cardano in April

    Should volatility in Crypto shock anybody?

    Over the weekend, another incredible market volatility transpired with the Dogecoin going down about 21.34% for the day on Sunday. Elon Musk´s appearance on SNL seems to have had a negative effect on the crypto asset’s price.

    Ethereum at the time of writing this report is currently trading at an all-time high of $4,053, up by 2.72% in 24 hours. There are many investment opportunities in cryptocurrencies but because of the tremendous market volatility, it is important for investors to invest with caution. The rule of thumb is not to invest more than you are willing to lose.

    READ: Why Ethereum transaction fees are often expensive

    Stock market bounce?

    The Nigerian Stock Exchange made a bullish recovery on Friday. Its year-to-date stands at -2.66%. There is still a lot of upside for Nigerian stocks which remain relatively cheap compared to other emerging markets. In a Twitter Spaces conversation with Ugodre Obi-Chukwu, analysts stated that the true value of the Nigerian economy is not reflected in the NGX. ¨Out of the 166 listed companies, only about 30 are tradeable,¨ according to one analyst.

    In a period where there should be a lot of capital allocation to emerging markets like Nigeria, a major deterrence to this is our FX situation. Investors have issues getting their money out of the Nigerian economy.

    Another Corruption case

    It was reported that the FG will probe the suspended MD of Nigerian Ports Authority, Hadiza Bala-Usman for the alleged non-remittance of over N165 billion operating surplus to the Consolidated Revenue Fund by the NPA management.

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    Billionaire Watch

    Bill Gates’ cash can buy Nigeria’s Stock Market

    Founder of Microsoft, Bill Gates’ cash in the bank can currently buy Nigeria’s stock market.

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    Bill Gates, Bill Gates reveals his superpowers and it is not what you think 

    Founder of Microsoft, Bill Gates’ cash in the bank can currently buy the Nigerian stock market.

    Most recent data postulates that the tech billionaire currently holds about $59.1 billion in the bank, far surpassing Nigeria’s Stock Exchange valuation of $53.7 billion (N20.4 trillion) at the time this report was drafted.

    Bill Gates Net Worth amid Divorce With Melinda

    The American billionaire is currently the fourth richest man in the world and his net worth is at a record high despite transferring nearly $2.4 billion in securities to Melinda Gates via Cascade Investment, Bill Gates investment vehicle, after filing for a divorce.

    The troubled couple however affirmed their plan on remaining co-chairs and trustees of the Bill & Melinda Gates Foundation. Bill Gates’ close confidant, Warren Buffett is the foundation’s third trustee.

    Bill Gates’ wealth is currently valued at $146 billion and he is estimated to have gained 14.1 billion in barely four months.

    READ: Bill Gates holds far more cash than Nigeria’s foreign reserve

    Gates has earned more than $50 billion in stock and dividends, including a $3.3 billion payout from Microsoft in 2004, as he owns about 1% of the world’s biggest software company.

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    He is the biggest shareholder of Canada’s biggest railroad operator, the Canadian National Railway.

    Bill Gates made his wealth when he simplified the computer operating system by creating Microsoft Windows, the leading operating system in personal computers globally.

    The billionaire has also disclosed that he doesn’t have any Bitcoin and spoke on the high price swing of the flagship crypto, often driven by “mania” prevailing in crypto markets making it hard for a normal investor to predict the crypto asset’s trajectory.

    READ: The Gates Divorce: Bill Gates’ Holding Company transfers $1.8bn of equities to Melinda Gates

    The data above shows that Bill Gates holds a significant amount of his wealth in cash, although it is noteworthy that he also has exposures in global equities, real estate, and collectables, which are also significant wealth creators for him.

    Market experts have opined that the rationale behind holding so much cash amid rising inflation is to fund his philanthropic missions as he donates much of his wealth to causes that help better the world.

    Gates’s current wealth valuation can at present, buy 80.2 million troy ounces or 2.14 billion barrels of crude oil.

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