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Stock Market

Nigerian Stocks record highest daily gains in 2020, investors gain N1 trillion

The All Share Index surged beyond the set threshold of 5% triggering a 30-minute trading halt of all stocks.

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Nigerian stocks were all fired up at the fourth trading session of the week. The All Share Index surged beyond the set threshold of 5%, triggering a 30-minute trading halt of all stocks. The benchmark – All Share Index (ASI) surged by 6.23% to close at 35,342.23 points. Investors also gained N1.083 trillion to close market capitalization at N18.46 trillion, while the Year-to-Date (YTD) returns stood at +28.58%.

A total volume of 1.192 billion units of shares valued at N17.39billion exchanged hands in 10,704 deals. ZENITHBANK was the most traded shares by volume and valued at 161.30million units and 4.42billion respectively.

  • The market breadth index was positive with 65 gainers against 8 losers. CADBURY, JBERGER, PRESCO, BUACEMENT, and AIRTELAFRI all gained 10.00% to led the gainer’s chart today, while ETERNA (-9.86%) topped the laggards.
  • Sectors’ performance was significantly bullish – The Industrial and Banking sectors recorded the largest gains as they appreciated by 8.65% and 7.94%. Likewise, the Banking, Consumer, and Industrial sectors also trailed advancing by 5.81%, 4.78%, and 1.98% respectively.

Sector performance

  • NSE Industrial Index: Surge by 8.65% due to the appreciation recorded in BUACEMENT (+10.00%), WAPCO (+9.86%), and DANGCEM (+8.11%)
  • NSE Banking Index: Up by 7.94%, as positive sentiment persists in STERLNBANK (+10.00%), ZENITHBANK (+9.96%), UBN (+9.84%), and WEMABANK (+9.76%).
  • NSE Consumer Goods Index: Increase by 5.81%, as CADBURY (+10.00%), DANGSUGAR (+9.77%), NB, and UNILEVER (+9.76%) closed north.
  • NSE Insurance Index: Advanced by +4.78%, on price appreciation in CUSTODIAN (+9.82%), MANSARD (+9.55%), and AIICO (+6.38%).
  • NSE Oil & Gas Index: Improved by 1.98%, due to gains in OANDO (+9.78%), and ARDOVA (+9.70%).

Top gainers

  1. NESTLE up 3 57% to close at N1450
  2. AIRTELAFRI up 10.00% to close at N451.2
  3. DANGCEM up 8.11% to close at N200
  4. PRESCO up 10.00% to close at N79.75
  5. NB up 9.74% to close at N63.1

Top losers

  1. ETERNA down 9.86% to close at N4.57
  2. GSPECPLC down 9.89% to close at N4.19
  3. MAYBAKER down 9.72% to close at N3.25
  4. NEM down 2.22% to close at N2.2
  5. MORISON down 9.26% to close at N0.49

Outlook
Nigerian Stocks recorded its highest daily gain in 2020, amid soaring crude oil prices.

  • NSE30 Stocks most especially Dangote, Nigerian Breweries, Airtel Africa, increased the bullish trend at unprecedented levels as Nigerian Stocks continues to attract institutional funds at a steady pace and the ultra-low rate environment seen lately in the debt market encouraged investors to invest more in local stocks exhibiting good fundamentals.
  • Nairametrics recommend you seek the advice of a Stockbroker amid price volatility presently prevailing at medium and large capitalized stocks.

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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Markets

Bullish dominance in the NGX Banking Index

The NGX Banking Index made a bullish recovery at the end of yesterday’s trading session with an increase of +1.11%, pushing the index points to 354.25.

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gtbank, stock market, Bulls dominate Nigerian bourse ASI up 0.74%, Investors gain N77 billion., Crude oil bulls lose steam, as COVID-19 cases hit record high

The NGX Banking Index made a bullish recovery at the end of yesterday’s trading session with an increase of +1.11%, pushing the index points to 354.25. There were 5 profits opposing 5 losses, but the magnitude of the gainers pushed the Banking Index into the green.

Union Bank led the gainers with a profit of +0.45, pushing its price upwards from N4.95 to N5.40.

Zenith Bank came second amongst the gainers with a profit of +1.14%, posting N22.20 from the previous day’s close of N21.95.

Guaranty Trust Bank also closed in profits with an increase of +0.86%, leaving its price at N29.40 from its previous price of N29.00. Sterling Bank was also part of the gainers with a profit of +0.63% putting its price at N1.60 from its previous close of N1.58.

Access Bank made profits of 0.62%, pushing its prices to N8.15 from N8.10.

Wema Bank was the biggest loser at the end of yesterday’s trading session as it made losses of -4.92%, leaving its price at N0.58 from N0.61.

Jaiz Bank also made losses of -3.23%, pushing its closing price to N0.63 from N0.62 obtained the previous day.

Ecobank joined the losers, posting a loss of -1.89% which put its price at N5.20 from its previous price of N5.30.

Fidelity Bank followed with a loss of -0.90%, putting its price at N2.24 from N2.22. UBA also posted a loss of -0.69%, pushing its price from N7.25 to N7.20.

Outlook

  • Market sentiment tends bullish as the magnitude of gainers outweighed the losers despite the 5 gainers and 5 losers held at the end of the trading session.
  • Nairametrics advises cautious buying amid growing uncertainties.

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Markets

Union Bank, LINKASSURE push NGX ASI into recovery

The market breadth closed positive with the bulls as LINKASSURE led 25 Gainers, and 16 Losers topped by NEM.

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Nigerian stock exchange market made a bullish recovery on the last day of the week’s trading session. This surge was bolstered by gains made by UBN and LINKASSURE amongst others. The All-Share Index increased by +0.21% to close at 39,198.75 from 39,114.73.

  • Nigerian Stock Exchange market value currently stands at N20.48 trillion. Its Year-to-Date (YTD) returns currently stand at -2.66%.
  • The market breadth closed positive with the bulls as LINKASSURE led 25 Gainers, and 16 Losers topped by NEM, showing a hint of consolation.

Top gainers

  1. LINKASSURE up +9.25% to close at N0.69
  2. JOHNHOLT up +9.26% to close at N59
  3. UBN up +9.09% to close at N5.40
  4. ROYALEX up +8.33% to close at N0.65
  5. CHIPLC up +8.33% to close at N0.39

Top losers

  1. NEM down -9.50% to close at N1.81
  2. COURTVILLE down -9.09% to close at N0.20
  3. SUNUASSUR down -8.47% to close at N0.54
  4. INITSPLC down -6.98% to close at N0.40
  5. ETERNA down -6.89% to close at N5.81

Outlook

The market recovered from a week-long loss as it posts profit at the end of the trading session.

  • Market sentiments tend toward bullish momentum as the NGX ASI closes with 25 Gainers and 16 losers.
  • Nairametrics however, advises cautious buying in this era of growing uncertainties.

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