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Stock Market

Nigerian Stocks end in near stalemate despite gains from Stanbic, Zenith Bank, FCMB

The market breadth index was negative with 21 losers against 13 gainers, as ARDOVA (-8.65%) led the laggards today.

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Value of shares traded by top 10 stockbrokers up 133% despite COVID-19, investors, Raging Bulls lift Brent Crude price by 10%

Nigerian bourse closed relatively flat today, as the All-Share Index fell slightly by 0.04% to print at 35,021.26 points. Hence, year-to-date return and market capitalization settled at 14.48% and N18.3 trillion respectively.

  • A total volume of 283.0 million units of shares, valued at N3.42billion exchanged hands in 3,855 deals. FBNH was the most traded shares by volume at 40.7million units, while GUARANTY topped by value at N1.08billion.
  • The market breadth index was negative with 21 losers against 13 gainers. ARDOVA (-8.65%) led the laggards today, while UNITYBNK (+4.69%) was the top gainer.
  • The sectorial performance was tepid as the Insurance, Oil & Gas, Banking, and Consumer Goods indexes dipped -1.04%, -0.37%, -0.07%, and -0.03%, while the Industrial inched up by +0.10%.

Top gainers

  1. UNITYBNK up 4.69% to close at N0.67
  2. LIVESTOCK up 2.94% to close at N1.4
  3. FCMB up 2.67% to close at N3.08
  4. ZENITHBANK up 0.21% to close at N23.45
  5. STANBIC up 0.11% to close at N44.05

 

Top Losers

  1. ARDOVA down 8.65% to close at N13.2
  2. CHAMPION down 8.16% to close at N0.9
  3. FIDSON down 7.79% to close at N4.5
  4. NEIMETH down 5.14% to close at N2.4
  5. JBERGER down 0.54% to close at N18.4

Outlook

Nigerian Stocks ended the mid-week trading session on a slightly bearish note, amid falling oil prices prevailing at the U.S trading session. At the time of writing this report, Brent crude was trading below $49/barrel.

  • That said, significant gains seen from NSE30 Stocks that include Stanbic IBTC, Zenith Bank, FCMB couldn’t stop Nigerian stocks from closing slightly red, as sell-offs intensified among top pharmaceutical stocks and medium capitalized stocks.
  • Nairametrics envisages cautious buying, on the sentiments that recent price action shows further market correction in the near term, however, stock traders anticipate the bullish run is still in play for the long term.

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.

    Continue Reading

      





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