Connect with us

STOCK MARKET

Bargain hunting: NSE market indices rebound by 0.38%

The key market indicators of the nation’s bourse recorded first week gain on Thursday, rebounding by 0.38 per cent on renewed bargain hunting.

Published

on

Specifically, the All-Share Index improved by 96.06 per cent or 0.38 per cent to close at 25,520.97 against 25,424.91 posted on Wednesday.

Similarly, the market capitalisation rose by N50 billion or 0.38 per cent to close at N13.313 trillion from N13.263 trillion achieved on Wednesday.

The upturn was impacted by gains recorded in large and medium capitalised stocks, amongst which are; Zenith Bank, MTN Nigeria Communications, Guaranty Trust Bank, C&I Leasing and Access Bank.

Capital market analysts noted that the local bourse recorded the first gain this week due to bargain in Zenith Bank, Guaranty Trust Bank and MTNN.

However, analysts at Afrinvest Limited expected the equities market to close the week on a bearish note.

A breakdown of the price movement chart indicates that 22 stocks gained in contrast with 12 laggards.

Eterna led the gainers’ chart in percentage terms, appreciating by 9.69 per cent to close at N2.49 per share.

C&I Leasing followed with 8.45 per cent to close at N3.85, while Wema Bank garnered 7.84 per cent to close at 55k per share.

Japaul Oil increased by five per cent to close at 21k, while Chams appreciated by 4.76 per cent to close at 22k per share.

Conversely, Associated Bus Company led the losers’ chart in percentage terms, dropping 7.69 per cent to close at 36k per share.

Cornerstone Insurance came second with 7.58 per cent to close at 61k while Consolidated Hallmark Insurance shed 5.88 per cent to close at 32k per share.

Unity Bank dipped 5.56 per cent to close at 51k, while FCMB Group lost 4.87 per cent to close at N2.15 per share.

In spite of the growth in market indices, volume of shares transacted declined by 12.29 per cent with an exchange of 236.48 million shares worth N1.65 billion in 3,251 deals.

This was against a turnover of 269.63 million shares valued at N2.87 billion traded in 4,155 deals on Wednesday.

Transactions in the shares of Zenith Bank topped the activity chart with 33.16 million shares worth N546.75 million.

Fidelity Bank followed with 29.97 million shares valued at N52.65 million, while Mutual Benefits Assurance sold 25.04 million shares worth N5.01 million.

Wema Bank traded 20.22 million shares valued at N11.03 million, while FBN Holdings transacted 20.06 million shares worth N100.29 million.

Advertisement
Click to comment

Leave a Reply

STOCK MARKET

Nigeria’s stock market soars amid plunge in CWG and IKEJAHOTEL

Published

on

Nigeria’s stock exchange market ended today’s trading session bullish, posting a profit at the end of the trading session. The All-Share Index increased by +0.18% to close at 38,482.52.

• The Nigerian Stock Exchange market value currently stands at N20.3Trillion. Its Year-to-Date (YTD) returns currently stands at -4.44%.
• The market breadth closed positive today as UPL led 15 Gainers, and 20 Losers were topped by CWG at the end of the session showing a consolidation as movement is not certain.

Top gainers

1. UPL up +9.38% to close at N1.40
2. REGALINS up +8.16% to close at N0.53
3. VERITASKAP up +5.00% to close at N0.21
4. CHIPLC up +4.17% to close at N0.75
5. ROYALEX up +3.90% to close at N0.80

Top losers

1. CWG down -9.66% to close at N1.87
2. IKEJAHOTEL down -9.09% to close at N1.00
3. NASCON down -8.78% to close at N13.50
4. JOHNHOLT down -8.62% to close at N0.53
5. LINKASSURE down -8.33% to close at N0.55

Outlook

• Market sentiments trend towards the bulls as 15 gainers outweighed 20 losers.

Continue Reading

STOCK MARKET

Custodian Investment declares final dividend of N2.65 billion to shareholders

Custodian Investment Plc has announced the payment of a final dividend of 45 kobo for every share of 50 kobo held by shareholders.

Published

on

The Board of Directors of Custodian Investment Plc has announced the payment of a final dividend of 45 kobo for every share of 50 kobo held by shareholders, making a total of N2.65 billion to be paid to shareholders for the year ended 2020.

This is according to a disclosure signed by the company’s secretary, Adeyinka Jafojo, which was sent to the Nigerian Stock Exchange.

According to the notification, the accrued final dividend will be disbursed electronically to qualified shareholders on the 22nd of April, 2021, subject to appropriate withholding tax and approval from the Annual General Meeting scheduled the same day.

It is also worth noting that the company had paid an interim dividend of 10kobo for the half-year period of 2020.

What you should know

The qualifying conditions for payment on the aforementioned date are;

  • Only shareholders, whose names appear in the register of members as at close of business on 9th of April, 2021 will be considered for payment.
  • Shareholders must have completed the E-Dividend registration.
  • Shareholders must have mandated the Registrar (Meristem Registrars and Probate Service Limited) to pay their dividends directly into their bank accounts.
  • Custodian Investment Plc has total shares outstanding of 5,881,864,195 and currently trading at N6.
  • A total dividend of 55 kobo has been thus declared for FY 2020 (45 kobo+10 kobo interim).

In lieu of this, the register of members will be closed from 12th-16th of April 2021 (both dates inclusive).

Drivers

Custodian Investment Plc had recently posted an impressive financial performance, evident by a surge in key financial metrics for the year ended 2020. For example, it recorded the following;

  • Profit after tax of N12.69 billion for the year (+111% YoY).
  • Profit Before Tax of N13.69 billion. (+69.6% YoY)
  • Earnings per share N194 vs N97. (+111.04% YoY)
  • Retained Earnings of N25.38 billion (+9.7% YoY).
Continue Reading

STOCK MARKET

NB Plc to pay N5.52 billion dividend, says shareholders can receive new shares

The board of Nigerian Breweries Plc has proposed N5.52 billion as dividend to shareholders for 2020.

Published

on

Nigerian Breweries Plc is set to reward shareholders of the company with N5.52 billion as dividend for the period ended 31st December 2020.

This is in line with the Board’s recommendation as the dividend is subject to the deduction of the appropriate withholding tax, and approval by shareholders of the company at the Annual General Meeting slated for 22nd of April 2021.

According to the notification issued by the Company Secretary, Uaboi G. Agbebaku, at the close of trading activities, the dividend declared by Nigerian Breweries on a per-share basis was pegged at 69 kobo per share. This puts the total dividend to be paid to shareholders at N5,517,862,415.19.

Shareholders can opt to receive new shares of the company

The Board of the Company however provided shareholders with the option to receive new shares of Nigerian Breweries, as Qualifying Shareholders have the right of election to receive new ordinary shares in the company instead of the final dividend in cash. This election is required to be made on or before the 10th of April, 2021.

In view of this, the Reference Share Price for the purpose of determining the number of shares due to Qualifying Shareholders who elect for the share option will be a ten-day trading average of the Company’s share price on the floor of The Nigerian Stock Exchange, starting on the 11th of March, 2021.

What you should know

  • It is important to note that the dividend declared is subject to appropriate withholding tax and the approval of shareholders at the Brewer’s next Annual General Meeting.
  • Qualifying Shareholders: The dividend will be paid to shareholders whose names appear in the Register of Members as at the close of business on the 10th of March, 2021.
  • Payment Date: On the 23rd of April, 2021, the dividends will be paid electronically to Qualifying Shareholders
  • To qualify for the dividend payment: Shareholders who are yet to complete the e-dividend registration are advised to download the Registrar’s E-Dividend mandate Activation Form, which is available at, complete same and submit to the Registrar of their respective Banks.
Continue Reading
Advertisement
Advertisement
Advertisement
Advertisement unmute the video for sound
Advertisement
Advertisement

Facebook

Follow us on Twitter

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 97 other subscribers

Trending