Stock Market
GTBank, Nigerian Breweries, CAP drop, investors lose N42 billion
The market breadth closed negative as AIICO led 19 Gainers as against 22 Losers topped by NNFM at the end of today’s session.
Nigerian bourse ended Wednesday’s trading session on a bearish note.
The All Share Index dipped lower by 0.26% to close at 35,056.82 points as against the 0.30% gain recorded yesterday. Its Year-to-Date (YTD) returns currently stands at +30.60%.
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- Nigerian Stock Exchange market capitalization now stands at N18.323 trillion. Investors lost N42 billion in the mid-week trading session.
- Nigerian trading turnover at Wednesday’s trading session, however, printed positive as volume ticked by 19.72%, as against the 25.83% drop recorded on Tuesday.
- ACCESS, FBNH, and ZENITHBANK were the most active to boost market turnover.
- The market breadth closed negative as AIICO led 19 Gainers as against 22 Losers topped by NNFM at the end of today’s session – an unimproved performance when compared with the previous outlook.
- CAP leads the list of active stocks that recorded an impressive volume spike at the end of today’s session.
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Top gainers
- AIICO up 9.90% to close at N1.11
- CUTIX up 7.14% to close at N1.8
- UBA up 5.49% to close at N8.65
- STANBIC up 3.90% to close at N44
- MAYBAKER up 2.94% to close at N3.5
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Top losers
- NNFM down 9.67% to close at N6.26
- NB down 7.05% to close at N56
- CAP down 6.98% to close at N20
- GUARANTY down 2.57% to close at N34.1
- FLOURMILL down 2.17% to close at N27
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Outlook
Nigerian Stocks ended the third trading session for the week on a bearish note.
- Selling pressure was significantly seen in blue-chip stocks like GTBank, Nigerian Breweries, CAP, Flour mills, as investors began a significant amount of profit-taking across the market spectrum.
- Nairametrics envisages cautious buying, as institutional investors reduce some of their long positions amid growing uncertainty playing out in Nigeria’s currency market.
Explore Data on the Nairametrics Research Website
Stock Market
United Capital Plc CEO purchases additional 1.3 million shares worth N7.19 million
United Capital Plc CEO has purchased an additional 1.3 million units of the firm’s shares worth N7.19 million.
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Airtel, WAPCO, MRS rally up, investors gain N46 billion
The All Share Index gained 0.21% to close at 41,088.96 index points. Year to date return and market capitalization settled at 2.03%, and N21.49 trillion respectively
Nigerian Stocks ended the first trading session on a bullish note.
The All Share Index gained 0.21% to close at 41,088.96 index points. Year-to-date return and market capitalization settled at 2.03%, and N21.49 trillion respectively. Investors gain N45.49 billion.
- A total volume of 333 million units of shares, valued at N2.64billion exchanged hands in 5,640 deals. TRANSCORP (-5.26%) finished the most traded shares by volume at 48.9million, while ZENITHBANK (0.00%) topped by value at N418 million.
- Market breadth was however inverse of the broad index with 30 losers against 19 gainers. MRS (+9.82%) led the gainer’s chart today, while CILEASING (-10.00%) was the top loser.
- Performance across sectors was mixed; like Oil & Gas (-0.80%), Consumer Goods (-0.72%) and Insurance (-0.58%) closed in red, while the Industrial and Banking indexes improved by +0.54 and 0.49% respectively.
Top gainers
- MRS up 9.82% to close at N12.3
- JBERGER up 3.17% to close at N19.5
- WAPCO up 1.92% to close at N26.5
- DANGCEM up 0.85% to close at N236
- AIRTELAFRI up 0.38% to close at N855
Top losers
- CILEASING down 10.00% to close at N5.13
- ARDOVA down 9.78% to close at N18.45
- INTBREW down 6.53% to close at N6.16
- NASCON down 5.81% to close at N16.2
- UNILEVER down 2.22% to close at N13.2
Outlook
Nigerian Bourse recorded an impressive winning streak this week as some NSE30 stocks including, AIRTELAFRI, DANGCEM, WAPCO triggered the upward run on Monday’s trading session.
- The Nigerian Stock market advance to close in positive territory as buying interest was seen on stocks across the board.
- Nairametrics however, envisages cautious buying, amid improved market conditions in Nigeria’s financial market.
Spotlight Stories
Champion Breweries shares increase by a whopping 58% in six trading sessions
Champion Breweries stocks are up by more than 58% in just six trading sessions amid expectations of MTO and by Heineken.
Champion Breweries stocks are up by more than 58% in just six trading sessions as buying interests by investors continue to prop the shares of the company upon the expectation of a mandatory takeover by Heineken.
Findings by Nairametrics at the close of trading today, 25th of January 2021, revealed that the share price of Champion Breweries has increased from N1.35 to N2.14 in just six trading sessions on the NSE.
This indicates that the shares of Champion Breweries Plc increased by 58.52% between the close of trade on Friday 15th of January, and Monday 25th January 2021.
It is essential to understand that buyers dominated trading activities on the company’s shares on the floor of the Nigerian Stock Exchange as the market price of the company’s shares went up by 9.74%, less than 20 minutes after the NSE opened, as buying pressure by investors continue to push the shares of the company higher.
The drive behind the increase in Champion Breweries shares
Investors’ buying interests in Champion Breweries Plc shares, was said to have been triggered by the expectation of a mandatory takeover by Heineken through its Special Purpose Entity, Raysun Nigeria Limited, which investors believe would birth a potential merger with the largest Brewer in the country, Nigerian Breweries Plc.
Recall that Nairametrics reported that, Raysun Nigeria Limited, a Special Purpose Entity (SPE) wholly-owned by Heineken Brouwerijen B.V., acquired 1,903,609,538 additional shares of the brewery company, worth N4.95 billion on 7 January 2021, at a price of N2.60 per share.
The acquisition took Heineken’s total stake in Champion Breweries to 6,633,043,538 or 84.72% (indirectly).
What you should know
- Since the news of Heineken’s indirect acquisition of additional shares in Champion Breweries through Raysun Nigeria Limited was disclosed on the 8th of January 2021, shares of the company have appreciated by 110%.
- The YTD gains of the shares of Champion Breweries on NSE, at the close of trading activities today currently stands at 148.84%.
