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Stock Market

Japaul stocks show no sign of slowing down, increase by 104% in 2021

Japaul stocks have gained 104% so far this year, as investors continue to bid the shares of the company higher.

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Paul Jegede, Japual Gold & Ventures Plc partners with Chinese firm to mine gold

Japaul Gold stocks have continued with its streak of gains today with no sign of slowing down, as the shares of the company gain 9.45% at mid-day on the floor of the Nigerian Stock Exchange, taking its year-till-date gains to 104%.

Japaul gold

Source: Meristem

Checks by Nairametrics at today’s trading session revealed that the company which has become investors’ delight on the exchange, yet again gained an additional 12 kobo, which translates to 9.45%, as the share price of the rebranded company clears at N1.39, with 10 million shares of the company exchanged in 43 deals worth over N14 million.

Japaul gold

Source: Meristem

As of 12:55 WAT, during active trading on the floor of the Nigerian Stock Exchange, the bid books of the company revealed that almost 100 million bids have been placed at today’s price of N1.39 in 70 orders for the shares of the company, without a single offer.

Read Also: U.S. approves New York Stock Exchange listing plan to cut off investment banks

This suggests that the share price of the company will close at N1.39 today, and the momentum of the recent increase in the shares is expected to extend over to tomorrow.

What you should know

  • An industry expert revealed that the key driver behind the recent gains in the shares of the company on NSE remains the recent restructuring process of the former oil servicing company into its new business of mining natural resources.
  • As investors are optimistic about the performance of the company in this new line of business, it is important to note that the Management of Japaul has taken avid steps by rebranding and changing its logo and name from Japaul Oil & Maritime Services to Japaul Gold & Ventures Plc.

Read Also: Dangote Cement market capitalization increased by 28% to cross N3 trillion mark in November

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  • The company has also partnered H&H Mines Limited to mine gold, it is also set to receive approval in principle from representatives of H&H Mines Ltd for Japaul to invest in or acquire some shares of the company.

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Omokolade Ajayi is a graduate of Economics, and a certificate holder of the CFA Institute’s Investment Foundation Program. He is a business analyst, and equity market researcher, with wealth of experience as a retail investor. He is a business owner and a stern advocate of Financial literacy, who believes in the huge economic prospect of the Nigerian Payment channels and Fintech space.

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Markets

Tesla plunges as GameStop posts gains   

Stocks took a drive on Monday with Nasdaq plunging (-0.98%) at the end of the trading session.

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Stocks took a drive on Monday with Nasdaq plunging (-0.98%) at the end of the trading session. The S&P 500 decreased by (-0.53%) and the Dow made a gain of (-0.36%). After a Tesla vehicle suspected to be without a driver crashed into a tree north of Houston on Saturday, killing two passengers, the electric-car maker’s stock fell 3.4%.

The stock had the greatest negative impact on the S&P 500 and Nasdaq Composite Indexes. Tesla’s stock price was weighted down by an 8.4% plunge in bitcoin over the weekend, in which it has a stake.

The yield on 10-year Treasuries was at 1.58%, after falling six base points in the U.S. trading session.

  • The stock of GameStop Corp soared 6.3% after the announcement of its CEO’s resignation.
  • Nvidia’s stock fell 3.5% after the UK government announced it would investigate the national security ramifications of Nvidia’s $40 billion acquisition of British chip designer ARM Holdings, creating doubts about the transaction.

Top gainers  

  1. Harley-Davidson up 9.68% to close at $44.29
  2. Albemarle up 3.60% to close at $157.50
  3. Morgan Stanley up 1.83% to close at $80.03
  4. Charles Schwab up 1.76% to close at $65.88
  5. Bank of NY Mellon up 1.61% to close at $46.81

Top losers

  1. Altria down -6.17% to close at $49.08
  2. Arconic down -6.07% to close at $26.02
  3. Synopsys down -3.88% to close at $250.64
  4. Cadence Design down -3.61% to close at $141.94
  5. Broadcom down -3.51% to close at $462.00

Outlook

  • As bitcoin suffered a beating over the weekend, crypto stocks like Riot Blockchain and Marathon Digital both fell more than 8%. Bitcoin was down 0.7% at the time of writing.
  • Speculators are expecting a recovery as the market opens today.
  • Nairametrics, however, advises cautious buying in this era of growing uncertainties.

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Markets

UACN and FCMB advance as WAPIC drops

Predictions of the dominance of consumer goods and the banking sector were affirmed with the presence of UACN and FCMB in the top 5 gainers.

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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  

The Nigerian Stock Exchange market posted gains at the end of the trading session today. The All-Share Index increased by +0.08% to close at 38,840.31 from 38,808.01 index points. UACN sits atop the Gainers list.

  • The Nigerian Stock Exchange market value currently stands at NGN 20.32Tr. Its Year-to-Date (YTD) returns currently stands at – 3.55%.
  • The market closed in profit as UACN led 15 Gainers, and WAPIC was top among 14 Losers with a noticeable bullish movement by the NSE ASI.

Top gainers

1. UACN up +10.00% to close at N11.00

2. FCMB up +9.77% to close at N2.92

3. UPL up +9.35% to close at N1.17

4. NNFM up +9.35% to close at N5.85

5. HONYFLOUR up +9.24% to close at N1.30

Top losers

1. WAPIC down -8.70% to close at N0.42

2. FTNCOCOA down -8.00% to close at N0.46

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3. UNITYBNK down -7.81% to close at N0.59

4. UAC-PROP down -5.06% to close at N0.75

5. JAPAULGOLD down -4.76% to close at N0.60

Stanbic 728 x 90

Outlook

The NSE ASI saw a bullish move supporting last Friday’s gains. Predictions of the dominance of consumer goods and the banking sector were affirmed with the presence of UACN and FCMB in the top 5 gainers. However, the following stocks are on our watchlist: Zenith Bank Plc, Guaranty, Access bank, STANBIC, HONYFLOUR, GUINNESS and Flourmills.

  • Nairametric, however, advises cautious participation in the stock market in this era of growing uncertainties.

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