Connect with us
SSN
Advertisement
IZIKJON
Advertisement
forex
Advertisement
Stanbic IBTC
Advertisement
Binance
Advertisement
Esetech
Advertisement
Patricia
Advertisement
Fidelity ads
Advertisement
app

Market Views

Strong sell-offs in STANBIC IBTC, top pharmaceuticals weigh slightly on Nigerian stocks

Today’s market performance was mostly driven by a significant dip in bellwether STANBIC by -10.00%.

Published

on

Nigerian stock market ended the week at a near stalemate. The All-share index dropped slightly by 0.06% to 40,186.70 index points following fifteen sessions of losses over the past 3 weeks.

  • Year-to-date return and market capitalization settled at -0.21% and N21.02 trillion, respectively. Investor sentiment as measured by the market breadth was negative today, weaker at 0.71x on 15 advancers and 21 decliners.
  • Today’s market performance was mostly driven by a significant dip in bellwether STANBIC by -10.00%. WAPCO & SEPLAT also fell by -2.15% and -3.46% respectively.
  • A total volume of 307.7 million units of shares, valued at N2.90 billion exchanged hands in 4,393 deals.
  • The most traded stocks by volume were FBNH (85.57 million units), UCAP (53.32 million units), and UBA (23.34 million units), while FBNH (N624 million), ZENITHBANK (N431.95 million), and GUARANTY (N348.55 million) topped the value chart.

READ: GTBank, SEPLAT, NB rally Nigerian Stocks to a hat trick of gains

Top gainers

  1. LIVESTOCK up 9.27% to close at N2.24
  2. PORTPAINT up 8.70% to close at N3.25
  3. FTNCOCOA up 8.16% to close at N0.53
  4. UCAP up 6.19% to close at N6.35
  5. AFRIPRUD up 5.80% to close at N7.3

READ: Record sell-offs persists in medium and low capitalized Nigerian stocks

Top losers

  1. STANBIC down 10.00% to close at N38.7
  2. MAYBAKER down 9.89% to close at N4.19
  3. MULTIVERSE down 8.33% to close at N0.22
  4. NEIMETH down 7.80% to close at N2.01
  5. ROYALEX down 7.41% to close at N0.25

READ: Natural gas prices near 52-week high amid harsh winter season in America

Outlook

Nigerian stocks ended the last trading session of the week on a slightly bearish note, amid falling oil prices prevailing at the U.S trading session. At the time of writing this report, Brent crude was trading around $63/barrel.

  • That being said, significant losses were seen from a few NSE30 stocks that include Stanbic IBTC, SEPLAT, WAPCO, and intensified sell-offs among top pharmaceutical stocks and medium capitalized stocks weighed slightly on the bourse.
  • Nairametrics envisages cautious buying, on the sentiments that recent price action shows further market correction in the near term, however, stock traders anticipate the bullish run is still in play for the long term.

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.

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Market Views

Strong gains from WAPCO, Unity Bank limit Bears grip on Nigerian Stocks

Strong gains from WAPCO couldn’t stop Nigerian stocks from closing slightly red, as sell-offs intensified among medium capitalized stocks.

Published

on

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

Nigerian stocks ended the last trading session on a near-stale mate. the All Share Index dropped by -0.08% to close at 39,331.61 index points as against the -0.40% plunge recorded on Thursday. Its Year-to-Date (YTD) returns currently stand at -2.33%.

  • However, the market trading turnover on Friday printed positive as volume ticked up by +19.18% as against the +101.84% uptick recorded yesterday.
    MANSARD, ZENITHBANK, and FBNH were the most active to boost market turnover.
  • The market breadth closed negative as MORISON led 20 Gainers as against 27 Losers topped by TRIPPLEG at the end of today’s session – an unimproved performance when compared with the previous outlook.

Top gainers

  1. MORISON up 10.00% to close at N0.66
  2. WAPCO up 9.90% to close at N22.2
  3. NEM up 9.88% to close at N1.89
  4. SKYAVN up 9.54% to close at N3.33
  5. UNITYBNK up 8.96% to close at N0.73

Top losers

  • TRIPPLEG down 10.00% to close at N0.72
  • TRANSEXPR down 10.00% to close at N0.81
  • UHOMREIT down 9.96% to close at N36.6
  • CUTIX down 9.95% to close at N1.81
  • SCOA down 9.90% to close at N2.64

Outlook

Nigerian Stocks ended the mid-week trading session on a slightly bearish note, amid soaring oil prices prevailing at the U.S trading session. At the time of writing this report, Brent crude was trading below $68.70/barrel.

  • That being said, strong gains from WAPCO couldn’t stop Nigerian stocks from closing slightly red, as sell-offs intensified among medium capitalized stocks.
  • Nairametrics envisages cautious buying, on the sentiments that recent price action shows further market correction as bargain hunters keep a tab on Nigerian macros.

Continue Reading

Market Views

Bears take Nigerian stocks hostage, investors lose N82.4 billion

Investor sentiment as measured by the market breadth closed negative with 12 advancers and 47 decliners.

Published

on

Bears

Nigeria’s all-share index fell further at the close of trading today, down by -0.40% to 39,364.67 points. Investors losses today stood at N82.35 billion.

  • Year-to-date return and market capitalization settled at -2.26% and N20.5 trillion, respectively.
  • Investor sentiment as measured by the market breadth closed negative with 12 advancers and 47 decliners.
  • Across coverage sectors, the performance was bearish. The NSE insurance, banking, consumer goods, and oil & gas sectors dipped 4.04%, 1.54%, 1.47%, 64 basis points, and 0.65%, respectively.
  • The flip side saw only the industrials improved marginally by 0.19%.

Top gainers

  1. UPL up 9.91% to close at N1.22
  2. MORISON up 9.09% to close at N0.6
  3. CAP up 5.26% to close at N20
  4. WAPCO up 3.59% to close at N20.2
  5. LIVESTOCK up 3.17% to close at N2.28

Top losers

  1. FIDSON down 10.00% to close at N4.41
  2. NNFM down 9.97% to close at N6.32
  3. ENAMELWA down 9.95% to close at N19.9
  4. NEM down 9.95% to close at N1.72
  5. NCR down 9.91% to close at N3.09

Outlook

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

  • Today’s bearish trading session was inclined by sell pressure on consumer ticker, DANGSUGAR which lost -6.25%. JBERGER, ARDOVA, and UBA also declined by -7.88%, 9.85%, and -3.64%, respectively.
  • Nairametrics expects intending buyers to seek the advice of certified stockbrokers.

Continue Reading



Advertisement





Nairametrics | Company Earnings

Access our Live Feed portal for the latest company earnings as they drop.