Nigerian bourse ended the week on a very impressive note.
The All-Share Index and Market Capitalization appreciated by 12.97% to close the week at 35,037.46 and N18.308 trillion respectively.
It was a historic trading week as the NSE All-Share Index (ASI) posted its largest daily gain in more than five years on Thursday, 12 November 2020.
The ASI rose beyond the set threshold of 5% triggering a 30 minute trading halt of all stocks for the first time since the Circuit Breaker was introduced in 2016.
The Circuit Breaker protocol was triggered at 12:55 p.m. when the NSE ASI increased from33,268.36 to 34,959.39.
The market reopened at exactly 1:25 p.m., with a 10-minute intra-day auction session before resuming continuous trading till the close of the day at 2:30 p.m.
- Meanwhile, a total turnover of 4.509 billion shares worth N58.733 billion in 47,140 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 2.067 billion shares valued at N22.636 billion that exchanged hands last week in 25,187 deals.
- The Financial Services industry (measured by volume) led the activity chart with 3.073 billion shares valued at N35.408 billion traded in 25,894 deals; thus contributing 68.15% and 60.29%to the total equity turnover volume and value respectively.
- The Conglomerates Industry followed with 437.822 million shares worth N771.280 million in 1,864 deals.
- The third place was the Consumer Goods Industry, with a turnover of 373.613 million shares worth N7.816billion in 7,471 deals.
- Trading in the top three equities namely Zenith Bank Plc, FBN Holding Plc, and Transcorp Hotels Plc (measured by volume) accounted for 1.426 billion shares worth N18.083 billion in 9,537 deals, contributing 31.63% and 30.79% to the total equity turnover volume and value respectively
- Sixty-nine (69) equities appreciated at price during the week, higher than Forty (40) equities in the previous week. Twelve (12) equities depreciated in price, lower than Twenty-four (24)equities in the previous week, while eighty (80) equities remained unchanged, lower than ninety-seven (97) recorded in the previous week.
Top 10 gainers W/W
- OANDO PLC up 48.15% to close at N4.00
- JAPAUL OIL & MARITIME SERVICES PLC up 43.48% to close at N0.33
- N NIG. FLOUR MILLS PLC. up 40.00% to close at N7.70
- LIVESTOCK FEEDS PLC. up 36.79% to close at N1.45
- FIDSON HEALTHCARE PLC up 36.53% to close at N5.98
- TRANSNATIONAL CORPORATION OF NIGERIA PLC up 35.29% to close at N1.15
- DANGOTE SUGAR REFINERY PLC up 34.55 % to close at N22.20
- NEIMETH INTERNATIONAL PHARMACEUTICALS PLC up 33.50% to close at N2.67
- WEMA BANK PLC. up 31.25% to close at N0.84
- MUTUAL BENEFITS ASSURANCE PLC. up 30.00% to close at N0.26
- IKEJA HOTEL PLC down 9.91% to close at N1.00
- GLOBAL SPECTRUM ENERGY SERVICES PLC down 9.89% to close at N4.19
- MORISON INDUSTRIES PLC. down 9.26% to close at N0.49
- CONSOLIDATED HALLMARK INSURANCE PLC down 8.11% to close at N0.34
- CAP PLC down 3.70% to close at N22.15
- LASACO ASSURANCE PLC. down 2.78% to close at N0.35
- AIICO INSURANCE PLC. down 2.17% to close at N0.90
- PORTLAND PAINTS & PRODUCTS NIGERIA PLC down 2.02% to close at N2.91
- ETERNA PLC. down 2.00% to close at N4.90
- LEARN AFRICA PLC down 1.74% to close at N1.13
Nigerian Stock traders were obviously with all smiles to the bank, earning over N2 trillion naira W/W
The surge got so high that the circuit breaker, had to be brought in on Thursday to halt such an incredible bullish run, in order not to overheat the market.
- Buying pressure among high and medium capitalized stocks pushed the Sub Saharan Exchange to a market capitalization above the N18 trillion mark, unsurprisingly as the Nigerian debt market becomes more unattractive, with recent 364-day Nigerian treasury Bills going for 0.3%, it’s fair to say more upsides are likely to happen specifically before the end of Q4.
- However, Nairametrics envisage cautious buying amid the prevailing bullish trend, as recent price action shows the Nigerian bourse is predominately in an overbought position, meaning the bulls are already look exhausted, and profit-taking could come into play.
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.
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.
- 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.
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.
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.
- LINKASSURE up +9.25% to close at N0.69
- JOHNHOLT up +9.26% to close at N59
- UBN up +9.09% to close at N5.40
- ROYALEX up +8.33% to close at N0.65
- CHIPLC up +8.33% to close at N0.39
- NEM down -9.50% to close at N1.81
- COURTVILLE down -9.09% to close at N0.20
- SUNUASSUR down -8.47% to close at N0.54
- INITSPLC down -6.98% to close at N0.40
- ETERNA down -6.89% to close at N5.81
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.
Nairametrics | Company Earnings
Access our Live Feed portal for the latest company earnings as they drop.
- Okomu Oil proposes dividend worth N6.7 billion for shareholders.
- Ardova Plc confirms appointment of Oladeinde Nelson-Cole as secretary.
- Cadbury Nigeria Plc set to hold 56th Annual General Meeting (AGM) on June 16.
- FCMB Group Plc appoints Muibat Ijaiya as Director.
- Afromedia Plc reports a loss after tax of N27.3 million in Q1 2021.