Connect with us

STOCK MARKET

Nigerian Breweries remain Investors delight W/W

Twenty-eight (28) equities depreciated in price, lower than thirty-one (31) equities in the previous week

Published

on

Nigerian Stock Market against headwinds printed bullish this week cumulatively.

The NSE All-Share Index and Market Capitalization appreciated by 2.92% to close the week at 26,319.34 and N13.755 trillion respectively.

A total turnover of 1.567 billion shares worth N20.559 billion in 18,396 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1.139 billion shares valued at N12.692 billion that exchanged hands last week in 17,109 deals.

  • The Financial Services industry (measured by volume) led the activity chart with 1.178 billion shares valued at N9.180 billion traded in 9,900 deals; thus contributing 75.14% and 44.65% to the total equity turnover volume and value respectively.
  • The Consumer Goods Industry followed with 90.002 million shares worth N1.688 billion in 2,715 deals. The third place was the ICT industry, with a turnover of 84.667 million shares worth N5.786 billion in 771 deals.
  • Trading in the top three equities namely Sterling Bank, FBN Holdings Plc, and Zenith Bank Plc.(measured by volume) accounted for 612.805 million shares worth N4.311 billion in 3,739 deals, contributing 39.10% and 20.97% to the total equity turnover volume and value respectively.
  • Thirty-five (35) equities appreciated at price during the week, higher than thirty-two (32) equities in the previous week.
  • Twenty-eight (28) equities depreciated in price, lower than thirty-one (31)equities in the previous week, while one hundred (100) equities remained unchanged, same as one hundred (100) equities recorded in the previous week.

Top gainers

NIGERIAN BREW. PLC. up 25.12% to close at N52.55
CORNERSTONE INSURANCE PLC up16.39% to close at N0.71
LAFARGE AFRICA PLC. up 15.77% to close at N15.05
CONSOLIDATED HALLMARK INSURANCE PLC up 9.68% to close at N0.34
TRANS-NATIONWIDE EXPRESS PLC. up 9.33% to close at N0.82
INTERNATIONAL BREWERIES PLC. up 9.09% to close at N3.60
PRESTIGE ASSURANCE PLC up 9.09% to close at N0.60
FLOUR MILLS NIG. PLC. up 8.59% to close at N21.50
PRESCO PLC up 8.16% to close at N53.00
LASACO ASSURANCE PLC. up 8.00% to close at N0.27

Top Losers

AIICO INSURANCE PLC. down 20.00% to close at N0.72
RED STAR EXPRESS PLC down 16.90% to close at N3.00
OANDO PLC down 11.74% to close at N2.03
N NIG. FLOUR MILLS PLC. down 10.00% to close at N4.05
CHAMPION BREW. PLC. down 10.00% to close at N0.81
UNIVERSITY PRESS PLC. down 9.55% to close at N1.42
DAAR COMMUNICATIONS PLC down 9.09% to close at N0.30
WAPIC INSURANCE PLC down 8.11% to close at N0.34
LINKAGE ASSURANCE PLC down 7.32% to close at N0.38
ROYAL EXCHANGE PLC. down 6.90% to close at N0.27

Outlook

Surprisingly, the Nigerian bourse against all prevailing macros printed impressive gains, as Investors cashed in with over N390 billion WoW. Buying pressures notably from Nigerian Breweries, Flour mills, Lafarge lifted, investors morale across the market spectrum

  • In spite of falling crude oil prices and prevailing dollar scarcity, Nairametrics observed significant Institutional buying in some notable blue-chip stocks, as Investors re-align their stock portfolios ahead of Q4,2020
  • That said, the surprising interest rate reduction of 100 basis points by Nigeria’s central bank this week, could partly be responsible for the lukewarm performance of Nigerian banking stocks this week, as no Nigerian banking stock made the top ten gainers list, on the bias that interest rates play a very important role in their profit margins in the mid-term
Advertisement
Click to comment

Leave a Reply

STOCK MARKET

#EndSARS: Nigerian stocks end neutral amid protests

The market breadth index was positive with 13 gainers against 11 losers.

Published

on

The Nigerian bourse closed flat today as the All Share Index remained at 28,344.33 points for the second consecutive trading.

A total volume of 342.1 million units of shares, valued at N5.03billion exchanged hands in 4,048 deals.

  • UBA was the most traded shares by volume at 92.8million units, while GUARANTY and ZENITHBANK topped the market value list at N1.84billion and N1.34billion respectively.
  • The market breadth index was positive with 13 gainers against 11 losers. ETERNA (+9.98%) led the gainer’s chart today, while GLAXOSMITH (-3.45%) topped the laggards.
  • NSE Banking Index: Down by -0.74%, due to sell-offs in GUARANTY (-1.67%), ACCESS (-1.27%), and ETI (-1.15%).
  • NSE Insurance Index: Depreciated by -0.45%, on price depreciation in AIICO (-3.57%).
  • NSE Oil & Gas Index: Fell by -0.29%.
  • NSE Consumer Goods Index: Up by +0.40% on buy-interests in GUINNESS (+3.23%), INTBREW (+3.19%), and PZ (+2.38%).
  • NSE Industrial Index: Improved by +0.30%, on the back of price appreciation recorded in WAPCO (+4.03%).

Top gainers
ETERNA up 9.98% to close at N5.29
WAPCO up 4.03% to close at N18.05
GUINNESS up 3.23% to close at N16
INTBREW up 3.19% to close at N4.85
VITAFOAM up 1.67% to close at N6.1

Top Losers
GLAXOSMITH down 3.45% to close at N5.6
FIDSON down 3.00% to close at N3.56
AFRIPRUD down 2.81% to close at N5.54
GUARANTY down 1.67% to close at N29.5
ACCESS down 1.27% to close at N7.75

What this means
Nigerian bourse ended the trading session neutral for 2 consecutive days, following oil prices and the U.S dollar rebounding up.

  • Unsurprisingly, trading activities were dampened amid the prevailing macro, showing that the protests for Nigerian police reforms by Nigerian youths have entered a critical phase.
  • The inflation rate surged to 13.71% (year-on-year) in September 2020, indicating a 0.49% point difference when compared to 13.22% recorded in August 2020. This weakened buying pressure in financial-based stocks.
  • Also, some leading western nations are beginning to report higher cases of COVID-19 infections, fueling serious speculations of imminent lockdown. This has dampened the resolve that global investors would increase their buying pressure at the biggest exchange of sub-Saharan Africa and weakened traders’ morale on Thursday.
Continue Reading

STOCK MARKET

NSE emerges world’s best, posts biggest daily gain in 5 years

Published

on

The Nigerian Stock Exchange (NSE) has emerged the best performing stock exchange in the world on Tuesday upon its Market capitalisation, Themoneymetrics reports.

Market capitalisation, which opened at N14.40 trillion, crossed the N15 trillion mark to close at N15.11 trillion as investors gained N949 billion.

The all-share index rose by 1,354.88 or 4.92 percent to close at 28,909.37 against 27,554.49 points on Monday, the biggest gain since April 1, 2015.

The uptrend was impacted by gains recorded in large and medium capitalised stocks, amongst which are; Dangote Cement, MTN Nigeria Communication, Presco, Nigerian Breweries and Stanbic IBTC Holdings.

Consequently, the market breadth closed positive with 45 gainers compared with eight losers.

This is the 12th consecutive day that the market has closed in the green.

Cornerstone Insurance, International Breweries and Presco led the gainers’ chart in percentage terms, with 10 percent each, to close at 66k, N4.29 and N60.50 per share, respectively.

FBN Holdings followed with 9.91 percent to close at N6.10, while Northern Nigeria Flour Mills rose by 9.88 percent to close at N4.45 per share.

Dangote Cement gained 9.86 percent to close at N158.20, while Lafarge Africa appreciated by 9.69 percent to close at N17.55 per share.

Transactions in the shares of Zenith Bank topped the activity chart, accounting 135.69 million shares valued at N2.77 billion.

United Bank for Africa followed with 112.89 million shares worth N768.18 million, while FBN Holdings traded 89.91million shares valued at N544.41 million.

Access Bank sold 56.03 million shares worth N426.27 million, while Guaranty Trust Bank transacted 40.06 million shares valued at N1.22 billion.

Ambrose Omordion, the chief operating officer of InvestData Ltd., said that low interest and undervalued state of the stock market had triggered an inflow of funds to blue-chip and growth stocks in search of better return in a hyperinflation environment.

Omordion said the trend is likely to persist till third-quarter numbers started hitting the market.

The monetary policy committee of the Central Bank of Nigeria (CBN) reduced the monetary policy rate by 100 basis points at its September meeting which has resulted in lower interest rates.

Continue Reading

STOCK MARKET

MTN Nigeria, Dangote Cement stocks fired up, investors gain whopping N708 billion

The aggregate market value of all quoted equities rose from its opening value of N14.202 trillion to settle at N15.110 trillion.

Published

on

Nigerian Stocks continued its bullish run today for the 12th consecutive session, as increased bargain-hunting across the sectors netted N708.14 billion gains in today’s trading session. This brings the net capital gains in the three trading sessions in October to N1.085 trillion.

Consequently, the average year-to-date return improved to a whopping 7.62%.

  • The All Share Index appreciated by a remarkable 4.92% to cross 28,909.37 points from its opening index of 27,554.49 points. Also, the aggregate market value of all quoted equities rose from its opening value of N14.202 trillion to settle at N15.110 trillion.
  • Market turnover soared to 749.46 million shares valued at N9.49 billion in 8,075 deals. Transactions in the shares of Zenith Bank topped the activity chart with 135.69 million shares valued at N2.77 billion.
  • UBA followed with 112.88 million shares worth N768.1 million, while FBN traded 89.9 million shares valued at N544.4 million.
    Bullish sector performance buoyed the ASI as all sectoral indices closed positive.
  • With 45 gainers to 8 losers, all sectoral indices closed positive.
  • The NSE Banking Index led to a massive gain of 7.48%. The NSE Industrial and Consumer Goods Indices trailed appreciating by 5.46 and 2.95% respectively. The NSE Oil & Gas Index appreciated by 1.15% while the NSE Insurance Index finished with a 0.26% increase.
  • NSE Banking Index: Recorded an impressive 7.48% gain, on uptrend in FBNH (+9.91%), ZENITH (+9.47%), UBA (+9.30%), GTB (+6.03%) and STANBIC (+4.94%).
  • NSE Industrial Index: Up by +5.46%, on DANGCEM (+9.86%) and WAPCO (+9.69%) upturn.
  • NSE Consumer Goods Index: Gained 2.95%, on buy interest in NB (7.17%), GUINNESS (+6.00%), and DANGSUGAR (+4.55%)
  • NSE Oil & Gas Index: Appreciated by 1.15%, on the back of the gains in OANDO (+9.57%) and ARDOVA (+8.97%).
  • NSE Insurance Index: Improved by +0.26%, on price appreciation in CORNERSTONE (+10.00%)

Top gainers
PRESCO up 10.00% to close at N60.5
DANGCEM up 9.86% to close at N158.2
NB up 7.17% to close at N52.3
MTNN up 5.70% to close at N142
STANBIC up 4.94% to close at N42.5

Top losers
NPFMCRFBK down 8.76% to close at N1.25
WAPIC down 7.69% to close at N0.36
BERGER down 6.15% to close at N6.1
NEIMETH down 5.13% to close at N1.85
REDSTAREX down 1.52% to close at N3.25

Outlook

It is fair to say institutional investors are back at Sub Sahara’s biggest Exchange, printing impressive gains, as the Nigerian bourse market capitalization tilted above N15 trillion.

  • Unsurprisingly buying pressure was maintained in notable Nigerian Stocks, like MTN Nigeria, Dangote Cement, Nigerian Breweries, and Stanbic Bank
  • Market liquidity had also improved in the last few days as Institutional investors restrategize their portfolio investments for Q4, 2020.
    Its to seem stock traders are not short of positive macros now, as Nigeria’s major export, crude oil printed more than 3% gains to trade near $43/Barrel.
  • Themoneymetrics however envisages caution, among these impressive gains recorded in the past weeks, as Africa’s largest economy remains vulnerable via a report credited to Fitch Ratings buttressed the FX demand backlog and persistence in external vulnerability are adequately captured by the ‘B’ rating.
  • It should also be noted this bullish trend is not broad-based as only a few Nigerian Stocks across the spectrum have benefited from the rally.
Continue Reading
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement

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 89 other subscribers

Trending