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Stock Market

Banking Index appreciates by 0.69%, as shares of Zenith, Stanbic gain

The NSE banking index closed the week at 382.76 index points, 2.63 index points higher than a week ago when it closed at 380.13 index points.

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Global stocks sell-off persists as resurgence of COVID-19 frighten investors 

The Nigerian Stock Exchange Banking Index at the close of trading activities for the week ended 26th of February 2021, appreciated by 0.69% to close at 382.76 index points, despite a general decline in the NSE ASI.

According to data obtained from the Nigerian Stock Exchange, the positive performance of the index was driven largely by appreciation in the share price of Zenith and Stanbic IBTC during the period under review.

The NSE banking index closed the week at 382.76 index points, 2.63 index points higher than a week ago when it closed at 380.13 index points.

On the other hand, the recent data also revealed that the financial services industry led the chart by volume with 1.450 billion shares valued at N15.070 billion traded in 14,236 deals; thus contributing 75.11% and 72.96% to the total equity turnover volume and value respectively.

The overall performance of most listed companies was bearish, reflected by a decline in the NSE All Share Index by 0.96% for the week under review. Similarly, all other indices finished lower with the exception of NSE Banking, NSE AFR Bank Value, NSE MERI Growth and NSE Oil/Gas Indices which rose by 0.69%, 1.34%, 0.66% and 0.97% while the NSE ASeM and NSE Growth Indices closed flat.

What you should know

  • The NSE Banking Index is designed to provide an investable benchmark to capture the performance of the banking sector, this index comprises the most capitalized and liquid companies in banking. The index is based on the market capitalization methodology.
  • It comprises of ten banking firms listed on the Nigeria Stock Exchange, e.g. FBN, Zenith, Wema, Access etc.
  • Trading in the top three equities by volume for the week, Wema, Zenith and FBN accounted for 782.167 million shares worth N8.914 billion in 4,624 deals, contributing 40.52% and 43.15% to the total equity turnover volume and value respectively.

The top gainers in the financial services category for the week are;

  • Royal Exchange Plc up by 8% to close at N0.27
  • Sovereign Trust Insurance Plc up by 8% to close at N0.27
  • Stanbic IBTC up by 3.36% to close at N40.0
  • Zenith Bank Plc up by 3.04% to close at N25.45

Chidi Emenike is a graduate of economics, a Young African Leadership Initiative Fellow and an Investment Foundations certificate holder. He worked as a graduate Teaching Assistant in the Federal College of Education Kano and is also a trained National Peer Group Educator on Financial Inclusion

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Markets

JAPAULGOLD, STERLNBANK surge, GUINNESS plunges  

The All-Share Index decreased by -0.29% to close at 38,601.83 from 38,712.55 index points.

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Stocks drop after the S&P 500 sets a new high

The Nigerian Stock Exchange market made another bearish run at the end of the trading session. The All-Share Index decreased by -0.29% to close at 38,601.83 from 38,712.55 index points.

  • The Nigerian Stock Exchange market value currently stands at NGN 20.26Tr. Its Year-to-Date (YTD) returns currently stands at -4.14%.
  • The market closed beneath expectation as JAPAULGOLD led 15 Gainers, and GUINNESS topped the chart of 18 Losers with a noticeable bearish movement by the NSE ASI.

Top gainers

  1. JAPAULGOLD up +8.70% to close at N0.75
  2. NAHCO up +7.39% to close at N 2.18
  3. STERLNBANK up +7.14% to close at N1.80
  4. STANBIC up +5.75% to close at N46.00
  5. CHAMS up +5.00% to close at N0.21

Top losers

  1. GUINNESS down -9.91% to close at N24.10
  2. TRIPPLEG down -9.72% to close at N0.65
  3. NCR down -9.68% to close at N2.52
  4. CHAMPION down -9.09% to close at N2.00
  5. JAIZBANK down -7.69% to close at N0.60

Outlook

Analysts’ predictions of a recovery in the market were halted by another bearish trend at the end of the trading session on Tuesday, though there is strong optimism that a recovery from the financial and consumer sectors will push the NSE-ASI back to profit.

Nairametrics advises cautious participation in the stock market in this era of growing uncertainties.

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Markets

Japaul Gold mines gold for investors, as shares return N751 million for investors in two days

Japaul Gold shares deliver 19.05% gains in two trading sessions on the floor of the NGX.

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ETF, stocks, shares, investment, equity,Gold loses some shine on hopes for COVID-19 vaccines

Japaul Gold continues to excite investors as the shares of the gold exploration company gained an additional 8.7% during today’s session on the Nigerian Stock Exchange (now NGX), to close higher at N0.75 per share.

The 8.7% increase in the company’s share price today extended the total returns to all shareholders from their investments in the company’s shares to N752 million in just two trading sessions.

These gains have seen the market capitalization of the rebranded company with a key focus on exploration increase from N3.95 billion to N4.70 billion in two days.

Data tracked on the NGX website (previously NSE), from the market close last week Friday till the close of trade today revealed that the share price of Japaul Gold and ventures surged by 19.05%, from N0.63 per share to N0.75 per share.

In case you missed it

Nairametrics reported last week that Japaul Gold took the market by surprise in the first active trading week in the month of April, as the shares of the rebranded company surged by a whopping 40%, to lift the company’s capitalization by about N1.38 billion.

  • Prior to the move up to N0.63 per share at the close of trade last week, the shares of Japaul Gold bottomed at N0.41 on the 31st of March 2021.
  • This move presented bargain hunters with the golden opportunity to benefit from the upward price swings in the company’s shares.

What you should know

  • The shares of the rebranded and restructured company with a new focus on Gold exploration as its new name suggests, rallied to a record 52-week high of N1.67 this year, on the 18th of January, 2021.
  • At the current price, shares of Japaul Gold are trading 20.97% higher than what the company’s shares sold for at the close of trading activities on the 31st of December 2021.

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