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Spotlight Stories

Dangote, Airtel Africa, Ecobank up W/W, investors gain N1.33 Trillion

The All-Share Index and Market Capitalization appreciated by 7.46% to close the week at 36,804.75 and N19.236 trillion respectively.

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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 were fired up at the last trading session of the week cumulatively.

The All-Share Index and Market Capitalization appreciated by 7.46% to close the week at 36,804.75 and N19.236 trillion respectively. Investors gained N1.33 trillion.

  • A total turnover of 1.893 billion shares worth N17.647 billion in 20,660 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 2.265 billion shares valued at N20.990 billion that exchanged hands last week in 23,722 deals.
  • The Financial Services industry (measured by volume) led the activity chart with 1.489 billion shares valued at N8.385 billion traded in 10,834 deals; thus contributing 78.65% and 47.52%to the total equity turnover volume and value respectively.
  • The Consumer Goods Industry followed with 106.986 million shares worth N2.360 billion in 3,447 deals. The third place was the Services Industry, with a turnover of 74.754 million shares worth N191.833 million in 448 deals.
  • Trading in the top three equities namely Jaiz Bank Plc, FBN Holdings Plc, and Niger Insurance Plc (measured by volume) accounted for 761.866 million shares worth N1.468 billion in 1,395 deals, contributing 40.25% and 8.32% to the total equity turnover volume and value respectively.
  • Fifty- three (53) equities appreciated at price during the week, higher than thirteen (13) equities in the previous week. Seventeen (17) equities depreciated in price, lower than forty-six (46) equities in the previous week, while ninety-one (91) equities remained unchanged, lower than one hundred and two (102) recorded in the previous week.

Top gainers

  1. FTN COCOA PROCESSORS PLC up 40.91% to close at N0.62
  2. JAPAUL GOLD & VENTURES PLC up 36.00% to close at N0.34
  3. AIRTEL AFRICA PLC up 21.00% to close at N774.40
  4. AIICO INSURANCE PLC. up 19.05% to close at N1.25
  5. CONSOLIDATED HALLMARK INSURANCE PLC up 15.38% to close at N0.30
  6. DANGOTE CEMENT PLC up 14.48 % to close at N209.50
  7. ROYAL EXCHANGE PLC. up 14.29% to close at N
  8. ECOBANK TRANSNATIONAL INCORPORATED up 13.79% to close at N6.60
  9. MUTUAL BENEFITS ASSURANCE PLC. up 12.50% to close at N0.27
  10. GUINNESS NIG PLC up 11.76% to close at N19.00

Top losers

  1. AXAMANSARD INSURANCE PLC down 60.00% to close at N1.38
  2. NEM INSURANCE PLC down 47.23% to close at N1.11
  3. OMATEK VENTURES PLC down 16.67% to close at N0.20
  4. INTERNATIONAL BREWERIES PLC. down 12.67% to close at N6.27
  5. LINKAGE ASSURANCE PLC down 10.00% to close at N0.45
  6. GREIF NIGERIA PLC down 9.89 %to close at N8.20
  7. C & I LEASING PLC. down 9.83 % to close at N4.31
  8. NASCON ALLIED INDUSTRIES PLC down 9.38% to close at N14.50
  9. JAIZ BANK PLC down 8.82% to close at N0.62
  10. ASSOCIATED BUS COMPANY PLC down 8.33% to close at N0.33

 

Outlook

Nigerian Stocks recorded an impressive trading session at last week’s trading session on the bias that there are fewer investment opportunities for high yields in other asset classes at Africa’s largest economy due to the prevailing surge in COVID-19 caseloads and a high inflation rate era.

  • Buying pressure was significantly seen across leading NSE 30 Stocks that include MTN Nigeria, Dangote Cement rallied close to their 52 weeks high not forgetting Airtel Africa trading at a lifetime high amid the prevailing bullish momentum.
  • Nairametrics, however, envisages cautious buying as the COVID-19 crisis seems to be getting out of hand in Nigeria’s key international markets, which includes Western Europe and the United States amid the rollout of COVID-19 vaccines.

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Follow Olumide on Twitter @tokunboadesina or email [email protected] He is a Member of the Chartered Financial Analyst Society.

2 Comments

2 Comments

  1. Mohammedaadam

    December 20, 2020 at 10:15 am

    Farmers

  2. Simon

    December 21, 2020 at 12:26 am

    Well done Olumide

    A quick observation, is it right to say that Mansard lost 60%? Not sure though if you take cognisance of the pre and post-bonus price trend. Right after the bonus, price adjustment was made, and since then, Mansard has soared.

    Also, I think Mansard closed the week at N0.92 and not N1.38.

    Thanks again baba!

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Coronavirus

COVID-19 Update in Nigeria

On the 24th of February 2021, 655 new confirmed cases and 11 deaths were recorded in Nigeria

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Covid 19 update symptops

The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record significant increases as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 153,842 confirmed cases.

On the 24th of February 2021, 655 new confirmed cases and 11 deaths were recorded in Nigeria.

To date, 153,842 cases have been confirmed, 130,818 cases have been discharged and 1,885 deaths have been recorded in 36 states and the Federal Capital Territory. A total of 1.49 million tests have been carried out as of February 24th, 2021 compared to 1.44 million tests a day earlier.

COVID-19 Case Updates- 24th February 2021,

  • Total Number of Cases – 153,842
  • Total Number Discharged – 130,818
  • Total Deaths – 1,885
  • Total Tests Carried out – 1,489,103

According to the NCDC, the 655 new cases are reported from 21 states- Lagos (240), Ogun (88), Rivers (56), FCT (51), Kaduna (43), Kano (25), Plateau (21), Taraba (19), Edo (17), Abia (15), Delta (13), Nasarawa (11), Akwa Ibom (10), Kwara (10), Oyo (10), Kebbi (9), Borno (5), Bayelsa (4), Gombe (4), Ekiti (2), and Osun (2).

Meanwhile, the latest numbers bring Lagos state total confirmed cases to 55,122, followed by Abuja (19,115), Plateau (8,854), Kaduna (8,422),  Oyo (6,708), Rivers (6,398), Edo (4,491), Ogun (4,277), Kano (3,716), Ondo (2,944), Kwara (2,875), Delta (2,539), Osun (2,326), Nasarawa (2,208), Gombe (2,031), Katsina (2,029), Enugu (1,998), Ebonyi (1,839), Anambra (1,615), and Abia (1,487).

Imo State has recorded 1,440 cases, Akwa Ibom (1,439), Borno (1,247), Bauchi (1,221), Benue (1,188), Niger (912), Ekiti (797), Sokoto (768), Bayelsa (767), Adamawa (762), Taraba (712), Jigawa (496), Kebbi (358), Yobe (268), Cross River (267), Zamfara (219), while Kogi state has recorded 5 cases only.

READ ALSO: COVID-19: Western diplomats warn of disease explosion, poor handling by government

Lock Down and Curfew

In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.

The movement restriction, which was extended by another two weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.

On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020. Also, on Monday 27th July 2020, the federal government extended the second phase of eased lockdown by an additional one week.

On Thursday, 6th August 2020 the federal government through the secretary to the Government of the Federation (SGF) and Chairman of the Presidential Task Force (PTF) on COVID-19 announced the extension of the second phase of eased lockdown by another four (4) weeks.

Governor Babajide Sanwo-Olu of Lagos State announced the closed down of the Eti-Osa Isolation Centre, with effect from Friday, 31st July 2020. He also mentioned that the Agidingbi Isolation Centre would also be closed and the patients relocated to a large capacity centre.

Due to the increased number of covid-19 cases in Nigeria, the Nigerian government ordered the reopening of Isolation and treatment centres in the country on Thursday, 10th December 2020.

bitcoin train

On 26th January 2021, the Federal Government announced the extension of the guidelines of phase 3 of the eased lockdown by one month following the rising cases of the coronavirus disease in the country and the expiration of phase 3 of the eased lockdown.

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READ ALSO: Bill Gates says Trump’s WHO funding suspension is dangerous

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Business

More Nigerians don’t trust government, fear losing jobs more than COVID-19 – Report

The 2021 Edelman Trust Barometer has revealed that Nigerians trust NGOs, businesses more than they trust the government.

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Cross section of Nigerians

A recent survey has revealed that only 24% of Nigerians have trust in the government which is one of the lowest rates in the world. The report also stated that Nigerians have more fear of job losses than Covid-19.

The was revealed in the 21st Edelman Trust Barometer Survey Report on Nigeria unveiled virtually by Edelman and its Exclusive Nigerian Affiliate, Chain Reactions Nigeria, in Lagos on Tuesday, 23 February 2021.

Presenting the 2021 Nigeria findings with the theme: ‘Pandemic’s Ongoing Impact on Trust’, CEO of Edelman Africa, Jordan Rittenberry, noted that Nigerians are looking to civil society organisations and businesses to assist the government in uplifting communities and driving positive change.

The 2021 Edelman Trust Barometer Report revealed that “out of the four institutions of government, business, media and Non-Governmental Organisations (NGOs), Nigerians trust civil society organisations the most, with businesses coming second.” 

Highlights of the survey include:

  • Most Nigerians expressed distrust for the media and returned the lowest trust quotient in the world for government with 24%.
  • Nigerians overwhelmingly placed the highest Trust in their ‘employers’, and in the process revealed their expectations for CEOs and business leaders to be more pro-active in speaking out on societal issues (92%) and driving positive change (79%) rather than wait for government.
  •  Nigerians fear losing their jobs more than they fear coronavirus, with a high degree of vaccine hesitancy revealed, as only 26% expressed readiness to take the COVID-19 vaccine when made available.

Laolu Akande, the Senior Special Assistant on Media to Vice President Yemi Osinbajo said: “Distrust in government is not peculiar to Nigeria. However, the government does have the responsibility to up its game in communication, to demonstrate responsibility and responsiveness.”

Akande cited the acclaimed National Social Intervention Programmes, and the COVID-19 Survival Fund as some evidence of the Muhammadu Buhari administration’s unprecedented responsiveness to Nigerians.

In case you missed it

Nairametrics reported last month that only 68.8% of Nigerians believe Covid-19 is real. While 39.9% of Nigerians say they will take the vaccine, 63.3% are opposed to another lockdown, in a report by SBM Intel

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