Nigerian Stocks end in near stalemate despite gains from Stanbic, Zenith Bank, FCMB
The market breadth index was negative with 21 losers against 13 gainers, as ARDOVA (-8.65%) led the laggards today.
Nigerian bourse closed relatively flat today, as the All-Share Index fell slightly by 0.04% to print at 35,021.26 points. Hence, year-to-date return and market capitalization settled at 14.48% and N18.3 trillion respectively.
- A total volume of 283.0 million units of shares, valued at N3.42billion exchanged hands in 3,855 deals. FBNH was the most traded shares by volume at 40.7million units, while GUARANTY topped by value at N1.08billion.
- The market breadth index was negative with 21 losers against 13 gainers. ARDOVA (-8.65%) led the laggards today, while UNITYBNK (+4.69%) was the top gainer.
- The sectorial performance was tepid as the Insurance, Oil & Gas, Banking, and Consumer Goods indexes dipped -1.04%, -0.37%, -0.07%, and -0.03%, while the Industrial inched up by +0.10%.
- UNITYBNK up 4.69% to close at N0.67
- LIVESTOCK up 2.94% to close at N1.4
- FCMB up 2.67% to close at N3.08
- ZENITHBANK up 0.21% to close at N23.45
- STANBIC up 0.11% to close at N44.05
- ARDOVA down 8.65% to close at N13.2
- CHAMPION down 8.16% to close at N0.9
- FIDSON down 7.79% to close at N4.5
- NEIMETH down 5.14% to close at N2.4
- JBERGER down 0.54% to close at N18.4
Nigerian Stocks ended the mid-week trading session on a slightly bearish note, amid falling oil prices prevailing at the U.S trading session. At the time of writing this report, Brent crude was trading below $49/barrel.
- That said, significant gains seen from NSE30 Stocks that include Stanbic IBTC, Zenith Bank, FCMB couldn’t stop Nigerian stocks from closing slightly red, as sell-offs intensified among top pharmaceutical stocks and medium capitalized stocks.
Nigerian stocks slightly bullish as ETERNA and UPL soar
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
• Market sentiments trend towards the bulls as 22 gainers outweighed 10 losers.
US stock market dips amid rise in Moderna, BioNTech
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%.
Nigeria’s stock market soars amid plunge in CWG and IKEJAHOTEL
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.
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
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
• Market sentiments trend towards the bulls as 15 gainers outweighed 20 losers.
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