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.
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%.
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.
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.
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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.
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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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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.
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
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
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.
