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STOCK MARKET

Nigerian Stocks on 6-day gaining streak, buyers benefit N154.4 billion WoW

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The Nigerian bourse closed the buying and selling consultation for the week cumulatively bullish. The NSE All-Share Index preferred through 0.35% to shut the week at 25,309.37. Stock marketplace capitalization stands at N13.203 trillion, and traders won N154.forty three billion WoW.

A general turnover of 1.072 billion stocks really well worth N7.384 billion in 16,684 offers changed into traded this week through traders at the ground of the Exchange, in assessment to a complete of 950.414 million stocks worth N10.123 billion that exchanged fingers final week in 16,647 offers.

The Financial Services industry (measured through extent) led the pastime chart with 586.761 million stocks worth N4.022 billion traded in 8,483 offers; therefore contributing 54.76% and 54.47% to the whole fairness turnover extent and price respectively.

The Conglomerates Industry observed with 307.744 million stocks really well worth N799.159 million in 1,010 offers. In the 1/3 vicinity changed into the Consumer Goods industry, with a turnover of 50.a hundred and seventy million stocks really well worth N968.272 million in 3,018 offers.

Trading withinside the pinnacle 3 equities, particularly Transnational Corporation of Nigeria Plc, UACN Plc, and United Bank for Africa Plc (measured through extent), accounted for 396.337 million stocks really well worth N1.373 billion in 1,845 offers, contributing 36.99% and 18.59% to the whole fairness turnover extent and price respectively.

29 equities preferred in rate at some stage in the week, decrease than 31 equities withinside the preceding week. 36 equities depreciated in rate, better than 27 equities withinside the preceding week, even as ninety eight equities remained unchanged, decrease than a hundred and five equities recorded withinside the preceding week.

Top 10 gainers for the week

  • UNIVERSITY PRESS PLC up 31.45% to shut at N1.63
  • FTN COCOA PROCESSORS PLC up 20.00% to shut at N 0.24
  • CHAMPION BREW. PLC up 19.23% to shut at N0.93
  • NEM INSURANCE PLC up 14.97% to shut at N2.15
  • P Z CUSSONS NIGERIA PLC up 9.09% to shut at N4.20
  • UNITY BANK PLC up 7.69% to shut at N0.56
  • AXAMANSARD INSURANCE PLC up 7.60% to shut at N1.84
  • UNILEVER NIGERIA PLC up 7.53% to shut at N15.00
  • WAPIC INSURANCE PLC up 6.06% to shut at N0.35
  • FCMB GROUP PLC up 5.91% to shut at N2.15

Top 10 losers for the week

  • BETA GLASS PLC down 9.99%  to shut at N55.40
  • ARBICO PLC down 9.52% to shut at N1.14
  • C & I LEASING PLC down 9.09% to shut at N4.00
  • CONSOLIDATED HALLMARK INSURANCE PLC down 8.11% to shut at N0.34
  • CUTIX PLC down 7.89% to shut at N1.75
  • FIDSON HEALTHCARE PLC down 7.25% to shut at N3.71
  • NEIMETH INTERNATIONAL PHARMACEUTICALS PLC down 7.00% to shut at N1.86
  • GUINNESS NIG PLC down 6.91% to shut at N14.15
  • AFRICA PRUDENTIAL PLC down 6.67% to shut at N4.20
  • TRANSNATIONAL CORPORATION OF NIGERIA PLC down 6.56% to shut at N0.57

Outlook

The Nigerian inventory marketplace completed the buying and selling week on an excellent note. That said, it ought to be stated that the bourse changed into all bullish all through the buying and selling week, as nearby traders extended their shopping for pressures on blue-chip shares which consist of MTN, GTBank, Zenith Bank, Unilever, and now no longer forgetting a few tier 2 banks (Unity Bank and FCMB).

The current balance withinside the forex marketplace additionally supplied the wanted marketplace self assurance in boosting marketplace liquidity relatively.

However, Themoneymetrics envisages careful shopping for of shares amid the gaining streak of Nigerian Stocks, as it’s anticipated that traders will take income in next buying and selling days ahead.

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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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