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Spotlight Stories

GTBank, Nestle, Zenith Bank soar high, investors gain N140 billion

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Nigerian banking stocks remain most liquid stocks, as investors gain N25.1 billion, DANGOTE CEMENT, OKOMUOIL and GUINNESS drag Nigerian Stock market down,  SEPLAT, GUINNESS, Breaks Nigerian Bourse Support Levels, Investors Lose N49 Billion  

Nigerian Stocks witness another positive at the mid-week trading session. Nigerian Stock Exchange capitalization value appreciated by N140.04 billion.

The All-Share Index (ASI) rallied up by 0.76% to close at 35,493.15 points. Similarly, the overall market capitalization size gained N140.04 billion to close at N18.55 trillion.

  • Today’s market upturn was impacted by gains recorded in large and medium capitalized stocks, amongst which includes; NESTLE, FLOURMILL, GUINNESS, GUARANTY, and ZENITHBANK.
  • Also, the total volume traded increased to 650.54 million shares, worth N2.28billion, traded in 3,952 deals.
  • Transactions in the shares of JAIZ Bank topped the activity chart with 414.9 million shares valued at N216 million. MANSARD followed with 22.3 million shares worth N17.1 million.
  • The equities market breadth closed positive as 29 stocks posted gains while 13 stocks posted declines. NESTLE led the gainer’s chart for the day, while OANDO was the top loser.

Top gainers

  1. NESTLE up 7.50% to close at N1505
  2. FLOURMILL up 7.29% to close at N26.5
  3. GUINNESS up 3.33% to close at N18.6
  4. ZENITHBANK up 2.55% to close at N24.1
  5. GUARANTY up 1.19% to close at N33.95

Top losers

  1. OANDO down 3.45% to close at N2.8
  2. UCAP down 3.08% to close at N4.4
  3. WAPCO down 2.22% to close at N22
  4. NNFM down 1.13% to close at N6.13
  5. DANGSUGAR down 0.56% to close at N17.9

Outlook

Nigerian bourse was fired up at all cylinders amid falling oil prices across the market spectrum. NSE30 stocks saw high buying pressures as Nestle, GTBank, Zenith Bank recorded daily gains on Wednesday.

  • Nigerian institutional investors seem to have increased their capital inflows to Nigerian Stocks on the prevailing low returns seen in the Nigerian debt market.
  • Nairametrics, however, envisages cautious buying amid growing uncertainty in Nigeria’s key international market, growing COVID-19 caseloads in Europe, and soft energy demand in play at the world’s largest economy.

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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Funds Management

Best Pension Funds in Nigeria for the month of March 2021

Nigerian Pension Fund administrators in the month of March 2021, recovered from the downturn recorded in February to post marginal growth.

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Pension plan participation among Nigerians increases

Nigerian pension funds asset recorded tepid growth in the month of March, recovering marginally from the negative growth recorded in the previous month, as 81.25% of the total funds recorded positive growth against 22% recorded in February.

This is according to data tracked by Nairalytics Research on the fund performances of Nigerian Pension Funds Administrators.

A cursory look at the data revealed that the RSA Fund IV on average performed the best in March, followed by RSA Fund III, while RSA Fund I remained flat in the review month.

Nairametrics considered the prices of the different RSA funds as of 28th February 2021 and compared them with the prices as of the last day of March (31st March 2021).

Below is a list of the best-performing funds in March


RSA Fund I

This fund has the highest allocation of risky or variable income instruments and participation is strictly upon a formal request from a contributor. The RSA Fund I is suitable for people who want to invest in high-risk instruments with higher rewards. Hence, contributors who are 50 years and above cannot apply to be moved into this fund.

According to available data 9 of the funds recorded positive growth in the month under review, as against 1 recorded in the previous month.

First position: Crusader Sterling Pensions Limited

  • March return: 0.68%

Second position: ARM Pension Managers Limited

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Sigma Pensions
  • March return: 0.52%

Third position: FCMB Pensions Limited

  • March return: 0.44%

Others on the list of gainers include; Premium Pension Limited, Trustfund Pensions Plc, Pensions Alliance Limited, Stanbic IBTC Pension Managers, NPF Pensions Limited, and Sigma Pensions Limited.

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It is noteworthy that Investment One Pension Managers and Veritas Glanvills Pensions were not included in the analysis, as their information could not be obtained, as at the time of writing this article. Considering the aggregate performance of the fund, it stood flat at 0%.


RSA Fund II

This fund is balanced and suitable for middle-aged contributors as well as those with a medium risk appetite. It is designed to be less risky with reduced allocation to variable income instruments compared to Fund I. The age requirement for participation is 49 years and below.

First position: Crusader Sterling Pensions Limited

Stanbic 728 x 90
  • March return: 0.65%

Second position: FCMB Pensions Limited

  • March return: 0.63%

Third position: ARM Pension Managers Limited

  • March return: 0.6%

Others on the list, which recorded positive growth in the month of March include; Leadway Pensure PFA, Nigerian University Pension Management, Trustfund Pensions, Pensions Alliance, Sigma Pensions Limited, Stanbic IBTC, and Radix Pension Fund Managers.

Of the 20 funds considered in the analysis, 16 recorded positive growth in value, representing 80% of the total. Meanwhile, it is noteworthy that as with the case in the RSA fund I category, Investment One Pension Managers and Veritas Glanvills Pensions, were not included.

The aggregate performance of the RSA Fund II, stood at 0.29% in March 2021.


RSA Fund III

This is a conservative fund that is designed for contributors close to retirement and contributors with a low-risk appetite. It is suited for contributors between the ages of 50 and 60 years. However, younger contributors may opt to participate in this fund category.

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First position: APT Pension Fund Managers Limited

  • March return: 1.17%

Second position: Crusader Sterling Pensions Limited

  • March return: 0.73%

Third position: Pensions Alliance Limited

  • March return: 0.66%

In this category of funds, all the pension funds posted positive growth in the month of March, with the exception of Investment One and Veritas Glanvills, which were not included in the analysis. The aggregate RSA Fund III, appreciated by 0.47% in March 2021.

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RSA Fund IV

The RSA Fund IV is exclusively for retirees. In the month of February, of all 22 Pension Fund Administrators, 10 of them recorded positive growth. However, they were all marginal growth of less than 1%.

First position: Pensions Alliance Limited

  • March return: 0.74%

Second position: First Guarantee Pension Limited

  • March return: 0.74%

Third position: Crusader Sterling pensions Limited

  • March return: 0.71%

Similarly, as witnessed in the RSA Fund III category all but AIICO Pension Managers recorded positive growth in March 2021, a recovery compared to the previous month. In terms of the aggregate performance, RSA Fund IV grew by 0.5% in the month under review.

According to the monthly report from the National Pension Commission, the total Pension Fund assets declined in the month of February 2021 from N12.3 trillion recorded as of 31st January 2021 to N12.25 trillion. This could be attributed to the bearish performance of the various funds in February 2021.

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Business

CBN includes sugar, wheat on FX restriction list

The CBN is set to include sugar and wheat in the forex restriction list.

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CBN forex restrictions on food itemsCBN approves new cheque standard for banks

The Central Bank of Nigeria has announced plans to place sugar and wheat on its FX restriction list.

The plan was disclosed by the apex bank via its verified Twitter handle in a statement credited to the CBN governor, Godwin Emefiele.

The tweet stated: “Sugar and Wheat to go into our FX restriction list. We must work together to produce these items in Nigeria rather than import them. #Emefiele.”

It would be recalled that over the years, the CBN has been reviewing its list of restricted food items to include more items, with the most recent being the addition of maize, a widely-consumed staple food in the country.

What you should know

  • The CBN governor, Mr Godwin Emefiele, had earlier (on Thursday) given this hint while on an inspection visit to the proposed $500 million sugar processing facility in Nasarawa state, belonging to Dangote Sugar.
  • In 2015, the CBN listed 41 items that had been placed on its FX restriction list citing that the move was necessary to conserve the nation’s foreign reserve and boost local production of the items on the restriction list.
  • Some of the items which made the 2015 list are margarine, poultry and eggs, rice, and cement.
  • In 2020, the apex bank included maize in its FX restriction list as it directed all authorised dealers to immediately discontinue the processing of Forms M for maize/corn importation into the country.
  • Nairametrics had also earlier explained in its publication following the new policy shift, that the government’s premise for deciding to restrict FOREX on food is faulty, especially since Nigeria has not attained full food security and the agricultural sector is still struggling.

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