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GTBank, Zenith Bank stage a strong comeback, investors gain N109 billion

Nigerian stock investors’ sentiment as measured by the market breadth closed positive as 22 stocks advanced, while 12 declined.

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Nigerian stocks ended Thursday’s trading session on an impressive note. The All Share Index rallied by 0.54% to 38,914.84 index points. Year-to-date return and market capitalization settled at -3.35% and N38.91 trillion, respectively. Nigerian investors were up by N109 billion

  • ETERNA (9.96%) led the gainer’s chart today, while WAPIC (-9.09%) was the top loser. A total volume of 368.2 million units of shares, valued at N4.90 billion, exchanged hands in 4,437 deals.
  • Nigerian stock investors’ sentiment as measured by the market breadth closed positive as 22 stocks advanced, while 12 declined.

Top gainers

  1. ETERNA N4.62 N5.08 0.46 9.96%
  2. LASACO N1.2 N1.3 0.1 8.33%
  3. ZENITHBANK N20.5 N22 1.5 7.32%
  4. GUARANTY N28 N29.8 1.8 6.43%
  5. DANGSUGAR N16 N17 1 6.25%

Top losers

  1. LINKASSURE N0.55 N0.5 -0.05 -9.09%
  2. WAPIC N0.55 N0.5 -0.05 -9.09%
  3. ABCTRANS N0.3 N0.28 -0.02 -6.67%
  4. STERLNBANK N1.57 N1.47 -0.1 -6.37%
  5. HONYFLOUR N1.25 N1.18 -0.07 -5.60%

Outlook

Nigerian stocks ended relatively bullish at the fourth trading session of the week, amid buying pressure from a significant number of Nigeria’s leading tier 1 banks.

  • Bargain hunting on bellwether ZENITHBANK (7.32%), GUARANTY (6.43%), & DANGSUGAR (6.25%) had the most influence on the index.
  • Nairametrics, however, envisages cautious buying amid growing uncertainty in Nigeria’s key international market, which includes resurging COVID-19 cases.

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Message Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.

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    Business

    NPA suspends Electronic Call-up for trucks at APM terminal, Apapa

    This follows a fallout of the dispute between members of the Maritime Workers Union and the management of AP Moller Terminals.

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     Onitsha River Port Set To Receive 1000 Containers from Lagos Next Week

    The Nigerian Ports Authority (NPA) has announced the suspension of the Electronic Call-up for trucks (ETO) for cargoes bound for the AP Moller Terminal (APMT) in Apapa.

    This follows the disruption of operations at the terminal which is a fallout of the dispute between members of the Maritime Workers Union and the management of AP Moller Terminals.

    This disclosure is contained in a series of tweet posts by NPA on its official Twitter handle on Thursday, April 15, 2021.

    The NPA said that while it is working towards resolving the dispute between both parties, APMT will not receive or exit cargoes for the next 24 hours.

    The tweet from NPA reads, ”Following a dispute with the management of AP Moller Terminals at the Lagos Ports Complex, Apapa, members of the Maritime Workers Union have today, April 15, disrupted operations at the terminal.

    While the NPA is working toward resolving the dispute between the two parties, APMT will not be able to receive or exit cargoes for the next 24 hours.

    The authority hereby urges stakeholders to please take note, as ETO tickets will not be issued to APMT bound cargoes.’’

    What you should know

    • There were earlier reports that the Maritime Workers’ Union of Nigeria (MWUN) on April 15 shut down AP Moller Terminal (APMT) in Apapa.
    • The President-General of MWUN, Mr Adewale Adeyanju, disclosed that the grounding of activities at the terminal is due to the expiration of the one week plus notice given to the management of the terminal to adhere to the laws of the land.

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    Business

    NCC issues NIN enrollment guideline for foreigners living in Nigeria

    All legally resident foreigners are required to obtain a NIN just like Nigerian citizens.

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    Nigerian Communication Commission (NCC) has issued NIN enrollment guidelines for foreigners living in Nigeria.

    According to NCC, all persons in Nigeria who use mobile networks are required to register their SIM cards and link them with the NIN database.

    This was disclosed by the commission via its Twitter handle on Thursday.

    READ: Here are 6 directives NCC gave MTN, Airtel, others on SIMs without NIN

    It tweeted, “All persons in Nigeria who use mobile networks are required to register their SIM cards and link them with the NIN database.

    All legally resident foreigners (i.e. non-Nigerians living and working in Nigeria) are to obtain a NIN just like Nigerian citizens. They can do this by submitting valid resident/work permits at NIMC enrolment centres.

    However, foreigners on tourist or visiting visa are to tender their international passports to acquire a SIM. But where such a visiting foreigner or tourist’s immigration status changes to residency or work permit, he/she will be required to obtain NIN and link the registered SIM.”

    READ: Beware of fake NIN app, NIMC warns Nigerians

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    It added that the NIN does not confer citizenship on foreigners but only serves to identify a person (citizens and legal residents).

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