Connect with us
iubh
Advertisement
Alpha
Advertisement
Hotflex
Advertisement
british airways
Advertisement
Advertisement
UBA
Advertisement
Patricia
Advertisement
app

Markets

MRS, others dip as FCMB, LINKASSURE and ETERNA record gains

The market closed beneath expectation as ETERNA led 14 Gainers, and MRS topped the list of 21 Losers.

Published

on

SEPLAT, GUINNESS break Nigerian bourse support levels, investors lose N49 billion  , Nigerian Stock market records sixth consecutive loss, Investors lose N15.55 Billion,Nigerian Stock market records sixth consecutive loss, Investors lose N15.55 Billion

The Nigerian Stock Exchange market made another bearish end posting a loss at the end of the trading session. The All-Share Index decreased by -0.39% to close at 38,766.61 from the 38,916.74 index points.

  • The NSE market value currently stands at N20.37 trillion from N20.45 trillion. Its Year-to-Date (YTD) returns currently stand at -3.37%.
  • The market closed beneath expectation as ETERNA led 14 Gainers, and MRS topped the list of 21 Losers, showing a bearish movement by the NSE ASI.

Top gainers

  1. ETERNA up +9.91%to close at N5.99
  2. LINKASSURE up +9.72% to close at N 0.79
  3. ROYALEX up +9.09% to close at N0.36
  4. JAPAULGOLD up +8.89% to close at 0.49
  5. FCMB up +4.59% to close at N2.96

Top losers

  1. MRS down -9.92% to close at N10.90
  2. ALEX down 9.88% to close at N7.30
  3. CHIPLC down 9.38% to close at N0.29
  4. STERLNBANK down 8.65% to close at N1.69
  5. GUINNESS down 8.08% to close at N33.00

Outlook

Nairametrics had a chat with an active participator in the stock market Mr Olatunji Olubode Adegboye, MD/CEO of Edgefield Capital Management Limited. He opines that we should be looking forward to a sell-off tomorrow saying, “Tomorrow, the market outlook is not expected to deviate from today’s performance.”

He also gave his perspective of potentially profitable stocks saying, “As we await the first-quarter results of quoted companies, the following stocks are on our watchlist. They are Zenith Bank Plc, Guaranty, Flourmills Plc, UCAP, and WAPCO.”

Trading turnover on Wednesday’s trading session was boosted by UACN, ACCESS, and FBNH.

Nairametrics advises cautious buying in this era of growing uncertainties.

Sigma Pensions

Ubah,Jeremiah ifeanyi is a PhD candidate of Economics in Covenant university. He has held positions as the financial manager in Opera and is also a research ambassador in M&S research Hub. Ifeanyi is currently the financial market analyst for Nairametrics. Follow Ifeanyi on Twitter @ubahjc

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.

Cryptocurrency

Bitcoin ETF in North America has reached $1 billion in assets

The first North American Bitcoin ETF has already reached $1 billion (C$1.25 billion) in assets less than two months after its launch.

Published

on

According to a statement from its issuer, the first North American Bitcoin ETF has already reached $1 billion (C$1.25 billion) in assets less than two months after its launch. What exchange-traded funds did to the conventional investing market for decades could happen to cryptocurrency players in a fraction of the time.

Investors are clamoring for crypto exposure, particularly in an exchange-traded fund wrapper, and the product from Toronto-based Purpose Investments, ticker BTCC, has seen a lot of interest. Although there are many crypto funds in Europe that work similarly to ETFs, this is the first ETF anywhere.

More than $165 million worth of shares were traded on the fund’s first trading day in February, a big start for a fund in the much smaller Canadian ETF market.

Its rapid cash accumulation reflects the high demand for Bitcoin products in the United States, as issuers compete for approval of the first Bitcoin ETF in the nation. Despite regulator resistance to accept the tactics, at least eight companies, including VanEck Associates Corp. and WisdomTree Investments, now have live applications with the Securities and Exchange Commission.

On Tuesday, Bitcoin surged to an all-time high of about $63,246 ahead of Coinbase Global Inc.’s upcoming IPO later this week.

There is an increasing expectation that a bitcoin ETF will be available in the United States in the not-too-distant future. Gary Gensler, the nominated chairman of the Securities and Exchange Commission, has taught cryptocurrency classes. The bitcoin market has exploded in popularity in recent months, attracting the attention of major financial institutions. Bitcoin ETFs are once again being sought by VanEck, Fidelity, and others.

One advantage of ETFs is that shares can be readily created and redeemed to arbitrage away any discount or premium, which could greatly broaden their appeal. ETFs are also cheaper, which will put pressure on fees across the bitcoin ecosystem. Hence market sentiment may push the ETF higher.

Sigma Pensions
Continue Reading

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.

Published

on

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.

Continue Reading

  





Nairametrics | Company Earnings

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