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STOCK MARKET

Sells-Offs in GTBank, Zenith Bank stocks intensify, investors lose N42.8 billion

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Nigerian bourse continued its second trading session for the week on a bearish note.

The All Share Index gained 0.33% to close at 25,497.32 points as against a 0.09% drop recorded on Monday.
Nigerian Stock Market capitalization presently stands at N13.302 trillion Its Year-to-Date (YTD) returns currently stands at -5.01%. Investors’ losses stood at N42.84 Billion.

Nigerian Stock Exchange trading turnover printed negative as volume dipped by 5.07% as against the 39.24% plunge recorded in the previous session. CUSTODIAN, FBNH, and ZENITHBANK were the most active to boost market turnover.

Market breadth closed negative as CAP led 10 Gainers as against 19 Losers topped by ARBICO at the end of today’s session an unimproved performance when compared with the previous outlook.

Top gainers

  • CAP up 2.65% to close at N17.45
  • NB up 2.50% to close at N41
  • FBNH up 2.02% to close at N5.05
  • NAHCO up 1.91% to close at N2.13
  • MTNN up 0.76% to close at N119.5

Top losers

  • ARBICO down 9.65% to close at N1.03
  • GUARANTY down 6.18% to close at N24.3
  • ZENITHBANKdown 2.31% to close at N16.9
  • UBN down 3.92% to close at N4.9
  • GUINNESS down 2.78% to close at N14

Outlook

Nigerian bourse continued its downward trend at Tuesday’s trading sessions, after the U.S dollar’s upward move in value powered down Nigeria’s major export (crude oil), which saw its pricing losing as much as 4% and traded below $40.

In addition, the upsurge in COVID-19 caseloads in key international markets continued to rattle local investors’ nerves.

It should also be noted that significant losses in Nigeria’s tier-1 banks (GTBank, Zenith Bank) neutralized gains recorded by MTN.

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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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