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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

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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
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STOCK MARKET

Nigerian stocks slightly bullish as ETERNA and UPL soar

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The stock exchange market made a bullish trend at the end of today’s trading session posting gains that increased the index by +5.47 points. The All-Share Index increased by +0.01% closing at 37,952.65 from 37,947.18 index points.

• The stock exchange market value currently stands at N19.78 trillion. Its Year-to-Date (YTD) returns currently stand at -5.76%.
• The market breadth closed positive as ETERNA led 22 Gainers, and 10 Losers topped by FTNCOCOA at the end of today’s session.
• The stock market has declined -2,318.07 basepoints since the start of the year.

NGX ASI top gainers

1. ETERNA up +10.00% to close at N7.13
2. UPL up +9.93% to close at N1.55
3. CUTIX up +9.92to close at N3.99
4. REGALINS up +8.89% to close at N0.49
5. LEARNAFRCA up +8.76% to close at N1.49

NGX ASI top losers

1. FTNCOCOA down -7.32% to close at N0.38
2. SOVRENINS down -6.06% to close at N0.31
3. ETI down -3.77% to close at N5.10
4. STERLNBANK down -3.21% to close at N1.51
5. UBN down -2.68% to close at N5.45

Outlook
• Market sentiments trend towards the bulls as 22 gainers outweighed 10 losers.

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STOCK MARKET

US stock market dips amid rise in Moderna, BioNTech

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As inflation fears overshadowed solid retail sales statistics and better-than-expected earnings reports, US markets dipped on Friday, sending the Dow Jones Industrial Average into the red for the week.

After Treasury Secretary, Janet Yellen issued an inflation warning, the Dow Jones Industrial Average fell. Meanwhile, Virgin Galactic (SPCE) fell once again, putting it on course for a huge weekly loss. AMC Entertainment (AMC), a meme stock, is also down this week.

Moderna (MRNA) soared on news of its inclusion in the S&P 500, while BioNTech (BNTX) remained on the rise.

Inflation fears kept the market back all week, but the S&P 500 and the Dow did briefly reach fresh all-time highs. The consumer price index rose 5.4 % in June from a year ago, the quickest rate in nearly 13 years, according to data released on Tuesday.

Quick market analysis  

Among the main indices, the Nasdaq fared the best, although it still declined approximately 0.6 %. Cintas (CTAS) was the best performer, gaining more than 4%, while Trip.com (TCOM) was the worst performer, losing just over 4%.

The S&P 500 lost 0.6%, closely matching the Nasdaq. Teleflex (TFX) was a standout performer, rising more than 3%. However, the stock dropped over 10% on Thursday. Norwegian Cruise Line (NCLH) was the worst performer in the S&P 500, falling nearly 5%.

Sectors in the S&P 500 were mixed, with utilities and real estate leading the way. The worst were energy and materials. The Russell 2000 index was down roughly 0.6%, indicating that small caps were sliding again.

The Dow Jones Industrial Average fell by about 8%, Amgen (AMGN) and Procter & Gamble (PG) were the best-performing stocks, with Amgen up 0.7% and Procter & Gamble up 1.1%.

The stock of Virgin Galactic continued to fall, this time by roughly 5%. It has been falling all week as a result of reports of a large share offering, and is on track to suffer a weekly loss of about 40%. SPCE stock began to fall sharply after the company said in a regulatory filing that it wants to sell up to $500 million in stock.
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STOCK MARKET

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

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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.

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