Connect with us


GTBank, Dangote Cement keep Bulls roaring high

Market breadth closed positive as NASCON led 20 Gainers as against 6 Losers topped by NNFM at the end of today’s session.



Nigerian stock market ended its last trading session on an impressive note. The All Share Index gained 0.47% to close at 28,697.06 points as against +0.40% appreciation recorded on Thursday.

Nigerian Stock Exchange market capitalization now stands at N14.99 Trillion. Its Year-to-Date (YTD) returns currently stands at +6.91%.

  • However, the Nigerian bourse trading turnover fell short of expectation as volume moved dipped by 9.11% as against -4.67% downtick recorded on Thursday. ACCESS, GUARANTY, and UBA were the most active to boost market turnover.
  • AFRINSURE leads the list of active stocks that recorded an impressive volume spike at the end of today’s session.
  • Market breadth closed positive as NASCON led 20 Gainers as against 6 Losers topped by NNFM at the end of today’s session – an improved performance when compared with the previous outlook.

Top gainers

  1. NASCON up 10.00% to close at N14.3
  2. PZ up 7.32% to close at N4.4
  3. ZENITHBANK up 1.69% to close at N21
  4. GUARANTY up 1.50% to close at N30.45
  5. DANGCEM up 0.67% to close at N151

Top losers

  1. NNFM down 9.89% to close at N4.19
  2. NPFMCRFBK down 4.29% to close at N1.34
  3. HONYFLOUR down 4.21% to close at N0.91
  4. UNIONDAC down 3.70% to close at N0.26
  5. VITAFOAM down 3.23% to close at N6


Nigerian bourse continued its bullish run amid a shutdown of economic activities at Nigeria’s economic nerve center Lagos and Rivers amid ongoing curfew put in place in order to calm hostilities prevalent in some areas.

  • Bulls seem to be rallying high amid soaring crude oil prices, and high buying pressure noticed in some Nigerian blue-chip stocks like Dangote Cement and GTBank.
Click to comment

Leave a Reply


Nike stocks post gains, women’s apparel division grow by 200%

Nike has used the COVID-19 pandemic as leverage to expand its digital business as it reported a surge in its in online sales.



Nike, the most valuable fashion brand in the sports business, saw its stock price rising on Tuesday, as the company reported an 82% surge in online sales and offered an impressive outlook that calls for demand to grow through the holidays.

Nike has used the COVID-19 pandemic as leverage to expand its digital business, and its women’s apparel division grew by nearly 200%. Parents stocked up on back-to-school items, and its business picked up in key markets like China.

Highlights of the results 

First-quarter reported revenues were $10.6 billion, down 1 percent on a reported basis, and flat to the prior year on a currency-neutral basis.

Nike’s direct sales were $3.7 billion, up 12 percent on a reported basis, and up 13 percent on a currency-neutral basis, with growth across all geographies.

Brand digital sales increased 82 percent, or 83 percent on a currency-neutral basis, with double-digit increases across North America, Greater China, and APLA and triple-digit growth in EMEA.

Diluted earnings per share for the quarter was $0.95, up 10 percent. Inventory rose 15 percent versus the prior year, but decreased 9 percent versus the prior quarter.

“Our results this quarter continue to demonstrate NIKE’s full competitive advantage, as we strengthen our position in the midst of disruption,” said John Donahoe, President, and CEO, Nike, Inc.

“In this dynamic environment, no one can match our pace of launching innovative products and our Brand’s deep connection to consumers. These strengths, coupled with our digital acceleration, are unlocking NIKE’s long-term market potential.”

COVID-19 pandemic is also helping Nike’s digital potential. The company disclosed that its digital sales now make up at least 30% of its total quarterly sales, a threshold that Nike had previously aimed to hit in three years’ time.

“Nike is recovering faster based on accelerating brand momentum and digital growth,” CFO Matt Friend stated on Tuesday.

Full details of the results can be found here

Continue Reading


Zenith Bank’s Profit After Tax in H1,2020 rises with the aid of using 16.8% to N103.8 billion

Zenith’s gross earnings grew by 4.4 % from N332 billion in H1,2019 to N346 billion in H1,2020.



In a clean demonstration of its robust marketplace percentage in Nigeria’s banking space, Zenith Bank Plc has published a Profit After Tax (PAT) of N103.826 billion in its 1/2 of yr 2020 result, up from N88.882 billion recorded in H1 2019. This confirmed an boom of 16.8%.

This turned into introduced with the aid of using the economic group in a declaration despatched to the Nigerian Stock Exchange on Thursday.

Despite the terrible disruption of financial sports resulting from the COVID-19 pandemic, the Tier-1 financial institution’s gross profits grew with the aid of using 4.4 % from N332 billion in H1,2019 to N346 billion in H1,2020

The financial institution additionally recorded nice boom throughout key economic metrics as follows, Profit Before Tax (PBT) multiplied to N114.124 billion in H1,2020 as towards N111.677 billion said in H1 2019.

As a testomony to its dedication to its shareholders, Zenith financial institution additionally introduced a proposed intervening time dividend 30 kobo according to regular percentage.

About per week ago, Mr. Ebenezer Onyeagwu the Group Managing Director/Chief Executive of Zenith Bank, entreated gamers withinside the non-oil export value-chain which include exporters and economic establishments to play their element withinside the power closer to increasing the nation’s non-oil export base.

Zenith Bank inventory rate recorded a tremendous benefit in its percentage rate after the discharge of this incredible H1,2020 result, gaining 1.47% to shut at N17.20.

Zenith Bank additionally prints a dividend yield of 16.28%, with profits according to percentage currently status at 7.12 and a marketplace capitalization of over N540 billion.

Continue Reading


GTBank sales for H1, 2020 rises to N225.14 billion

Profit After Tax stood at N94.3 billion in H1, 2020.



Guaranty Trust Bank’s sales for the half-yr of 2020 stood at N225.14 billion as in opposition to 221.87 billion recorded withinside the identical corresponding length of 2019.

However, Nigeria’s main lender’s Profit Before Tax for H1,2020 stood at N109.7 billion as in opposition to N115.eight billion recorded withinside the identical corresponding length of 2019, displaying a decline of approximately 5.2%.

Its Profit After Tax stood at N94.three billion in H1, 2020 as in opposition to N99.1billion recorded withinside the identical corresponding length of 2019.

These had been disclosed withinside the announcement issued via way of means of the tier-1 financial institution to the Nigerian Stock Exchange (NSE) on Wednesday.

It need to additionally be mentioned that the Board of Directors of Nigeria’s maximum treasured financial institution via way of means of marketplace price proposed an period in-between dividend charge of 30 kobos in keeping with regular proportion at the issued capital of 29,431,179,224 Ordinary Shares of fifty Kobo every payable to Shareholders at the sign up of shareholding on the closure date.

Just lately the N755 billion marketplace capitalized financial institution indexed at the Nigerian Stock Exchange and additionally at the London Stock Exchange, disclosed in a notice to its GDR holders that the organization which serves as custodian for this stocks similar to those certificates (Citibank Nigeria) is watching for authorization from the Central Bank to switch dividends for the 2019 economic yr in greenback terms.

Shortly after the discharge of  Guaranty Trust Bank incomes end result for H1, 2020, the proportion fee rose barely better via way of means of 0.20% to shut at N25.65

What you need to know; A dividend is a charge made via way of means of a enterprise to its shareholders, normally as a distribution of profits.

When a enterprise earns a earnings or surplus, it reinvests a part of the earnings withinside the business (retained earnings) at the same time as paying a component as dividends to the shareholders.

Continue Reading


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 91 other subscribers