Fidelity Bank Nigeria Plc has announced that one of its General Manager/Regional Head, Mr. Kenneth Opara, has purchased additional 1 million units of the Bank’s shares worth approximately N2.8 million.

In a disclosure, signed by the Bank’s Secretary, Ezinwa Unuigboje, the transaction occurred in two tranches with an average share price of N2.78 per unit.

What you should know

Further checks by Nairametrics revealed that the shares purchased in two tranches were transacted at different prices.

• In the first tranche, 6,000 units were purchased at the price of N2.78 per unit, totalling N16,680.
• In the second tranche, 994,000 units were bought at N2.79, amounting to N2,773,260
• The transaction occurred on the 25th of November, 2020 and was reported inline with the rules of the Nigerian Stock Exchange.
• Nairametrics earlier reported that another Fidelity Bank Non-Executive Director had purchased additional 1 million units of the Bank’s share.

What this means

The recent purchase by top insiders of the bank could portray an optimistic outlook on the bank’s profit in the near future.

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.

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

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.