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Stock Market

Bears take a grip on Nigerian stock market, investors lose N132 billion

The market breadth was negative today at 0.33x on 17 advancers and 23 decliners.

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Nigerian Stock Exchange, Nigerian Stocks, Daily market summary, NSE, Bourse bows to bears as ASI dip 0.55% on Friday, NSE: Bears dominant reign continues as ASI shed 4.91% on Tuesday, Bearish trend persists at Nigerian Stock Exchange, as investors lose N456 billion, Bears return, Nigeria’s local bourse drops 0.12%, Bears return Nigeria's ASI index down 3.12% Investors lose N370 billion, Bulls lift Nigerian bourse up 0.10%, as trading volume picks up,  BUACEMENT, CADBURY, WAPCO Bring the Bears to Party, Investors Lose N198.05 Billion

Nigerian stock market dropped further today by 0.63% to 40,465.32 index points. Year-to-date return and market capitalization settled at -0.15% and N21.03 trillion respectively.

  • Activity level improved today compared to yesterday as 426.2 million shares, valued at N4.75 billion exchanged hands in 4,972 deals.
  • Nigerian investors’ losses on Thursday stood at N132.42 billion.
  • Investor sentiment as measured by the market breadth was negative today at 0.33x on 17 advancers and 23 decliners. UPL (-9.09%) led the laggards today, while RTBRISCOE (+10.00%) finished top gainer.

READ: Nigerian stocks ranked world’s best-performing stock market

Top gainers

  1. RTBRISCOE up 10.00% to close at N0.22
  2. CORNERST up 8.47% to close at N0.64
  3. ROYALEX up 8.00% to close at N0.27
  4. NAHCO up 6.51% to close at N2.29
  5. NIGERINS up 4.55% to close at N0.23

READ: Bears stage a big come back, Nigerian stocks investors lose N426 billion

Top losers

  1. UPL down 9.09% to close at N1.2
  2. CHAMS down 8.33% to close at N0.22
  3. UPDCREIT down 7.76% to close at N5.35 –
  4. MULTIVERSE down 7.69% to close at N0.24
  5. JAPAULGOLD down 5.56% to close at N0.68

READ: Bears reverse gains at Nigerian Stock Market, investors lose N62.6 billion

Outlook

Nigerian stocks ended the fourth trading session of the week on a negative note amid soaring oil prices prevailing at the U.S trading session.

  • Across coverage sectors, the performance was mostly negative as all tracked indices closed in the red. The NSE banking, insurance, consumer goods, energy and industrials lagged by 2.60%, 1.54%, 0.51%, 0.20% and 0.13% respectively.
  • Nairametrics expects intending buyers to seek the advice of a certified stockbroker.

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. He is a Member of the Chartered Financial Analyst Society.

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Stock Market

United Capital Executive Director acquires 2 million additional shares worth N12.4 million

An Executive Director of United Capital Plc has purchased additional units of its shares worth N12.4 million.

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Group Executive Director, others acquire over 3.5 million shares of United Capital Plc

United Capital Plc has notified the Nigerian Stock Exchange that one of its Executive Directors, Sunday Anene has acquired 2,000,000 additional units of its shares, worth N12.4 million.

In line with the Nigerian Stock Exchange policy on insider dealing, the formal disclosure was made by the company’s secretary, Leo Okafor.

According to the disclosure, the recent deal which took place on the 24th of February, 2021, saw Mr Anene purchase 2,000,000 additional units of the firm’s shares at N6.20 per unit, totalling N12.4 million.

Meanwhile, United Capital Plc share price currently trades at N6.24 on the floor of the Nigerian Stock Exchange.

Results from its recently released FY 2020 financials showed a 57% increase in Profit After Tax, from N4.97 billion to N7.81 billion.

Other key financial metrics recorded impressive growth, part of which played an underlying role in the declaration of a total dividend of N4.2 billion- a major improvement of about 40% when compared to 2019 figures.

What you should know

  • Mr Anene had in November 2020, spent the sum of N3.75 million on additional 915,574 units of the firm’s shares.
  • United Capital Plc is a Nigeria-based financial and investment services company, offering a wide array of services like investment banking, portfolio management, securities trading and trusteeship etc.

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Spotlight Stories

Sell-offs resume in Nigerian stock market, catalyzed by Ecobank, Fidson

Investor sentiment as measured by market breadth was negative with 24 decliners and 14 advancers.

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Nigerian Breweries brings the Bears to party, Investors down N20.5 billion 

Nigerian bourse ended the fourth trading session on a negative note. Nigeria’s All-share index depreciated by 0.31% today to 40,095.49 index points.

Year-to-date return and market capitalization settled at -0.43% and N20.97 trillion respectively.

  • A total volume of 326.0 million units of shares, valued at N3.7 1billion exchanged hands in 4,567 deals.
  • Across coverage sectors, the performance was mostly negative as most tracked indices finished south. The NSE banking, consumer goods, and oil & gas fell by 1.44%, 0.79%, and 0.15% respectively.
  • On the flip side, the NSE insurance improved by 0.24%, while the industrial index closed flat.
  • Investor sentiment as measured by market breadth was negative with 24 decliners and 14 advancers. LASACO (-9.68%) led the laggards today, while CHAMS (+9.09%) finished top gainer.

Top gainers

  1. CHAMS up 9.09% to close at N0.24
  2. ROYALEX up 8.00% to close at N0.27
  3. WEMABANK up 7.69% to close at N0.7
  4. REDSTAREX up 5.77% to close at N3.3
  5. PRESTIGE up 4.55% to close at N0.46

Top losers

  1. LASACO down 9.68% to close at N1.24
  2. FIDSON down 8.41% to close at N4.9
  3. ETI down 6.31% to close at N5.2
  4. MBENEFIT down 5.13% to close at N0.37
  5. UACN down 5.03% to close at N7.55

Outlook

Nigerian stocks ended the second trading session of the week on a bearish note amid profit-taking across the market spectrum.

  • Downtrend was driven by price depreciation medium and large capitalized stocks amongst which are; ETI, FIDSON, UACN.
  • That being said, Nairametrics envisages cautious buying on the account that certain market indicators reveal investors are taking some of their gains across the market spectrum.

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