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Top NGX Banking index stocks that outperformed inflation

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Given Nigeria’s 17.75% inflation rate in June 2021, it would be prudent to look at the NGXBanking index to determine which stocks have outperformed inflation in the last few months.

The exchange all-share index declined -5.77% (YTD) to 37,947.18 index points, according to the latest statistics. Investors lost over N25 billion last week, as the market capitalization fell from N19.79 trillion the week before to N19.77 trillion on July 16th, 2021.

NGX banking index currently stands at 383.30 index points, up +0.99% at the end of the last trading session. Technical analysis shows that the trend is trying to attain the level that was seen towards the end of last year.

Why this matters: Investors can use stock performance to determine if their own financial assets are performing well or poorly especially due to rising inflation. It also gives an investor the necessary information to either change or maintain their tactics.


Zenith Bank

Zenith Bank completed its last trading day at N24.45 per share, up 0.6% from its previous closing price of N24.30. It started the year with a share price of N24.80, but it has since lost 1% of that value. It now has a profit of +51.9% over a one-year period, thereby surpassing inflation.

Zenith Bank is the most traded stock on the NGX over the past three months (Apr 12 – Jul 16, 2021). It has traded a total volume of 1.22 billion shares in 22,049 deals valued at N28.2 billion over the period, with an average of 18.5 million traded shares per session.


Wema Bank

Wema Bank completed its previous trading day at N0.80 per share. It started the year with a share price of N0.69  and has subsequently increased its share price by 16%.

The bank’s shareholders might be encouraged because the stock has gained +45% in the last four weeks, which is the second best on the NGX ASI. It has made a profit of +48.2% during the last year, outperforming inflation.

Wema Bank is the 11th most traded stock on the NGX over the past three months (Apr 12 – Jul 16, 2021). It has traded a total volume of 418 million shares in 3,424 deals valued at N265 million over the period, with an average of 6.33 million traded shares per session.


Access Bank

Access Bank completed the last trading day at N9.20 per share, up 2.2% from its previous closing price of N9.00. It started the year with a share price of N8.45 and has since increased its value by 9%. Shareholders can be enthusiastic about ACCESS because the stock has gained 8% in the last four weeks alone. Over the last year, It has made a profit of +40.5%, outperforming inflation.

Access Bank is the second most traded stock on the NGX over the past three months (Apr 12 – Jul 16, 2021). ACCESS has traded a total volume of 1.21 billion shares in 14,959 deals valued at N9.74 billion over the period, with an average of 18.3 million traded shares per session.

Fidelity Bank

Fidelity Bank completed its last trading day at N2.40 per share. It started the year with a share price of N2.52, but has subsequently dropped 5% from that level. The 6% increase in FIDELITYBK share price since June 18th, which is the 35th best on NGX may assuage shareholders’ anxieties. Fidelity Bank is now profitable, with a one-year profit of +37.9%, outperforming inflation.

Fidelity Bank is the third most traded stock on the NGX over the past three months (Apr 12 – Jul 16, 2021). It has traded a total volume of 1.16 billion shares—in 8,139 deals—valued at N2.63 billion over the period, with an average of 17.5 million traded shares per session.


Sterling Bank

Sterlin Bank completed its last trading day (Friday, July 16, 2021) at N1.56 per share, up 0.6% from its previous closing price of N1.55. STERLNBANK started the year with a share price of N2.04, but it has already lost 24% of that value.

Sterling Bank is the 12th most traded stock on the NGX over the past three months (Apr 12 – Jul 16, 2021). It has traded a total volume of 413 million shares—in 4,469 deals—valued at N652 million over the period, with an average of 6.26 million traded shares per session.


UBA

UBA completed last Friday’s trading day at N7.75 per share, up 2% from its previous closing price of N7.60. UBA started the year with a share price of N8.65 but has since lost 10% of that value, putting it in 129th place on the NGX in terms of year-to-date performance. The 6% improvement in UBA’s share price since June 18th, may assuage investors’ anxieties. UBA presently has a profit of +24% over a one-year period, outperforming inflation.

United Bank for Africa is the seventh most traded stock on the NGX over the past three months (Apr 12 – Jul 16, 2021). UBA has traded a total volume of 646 million shares in 10,599 deals valued at N4.7 billion over the period, with an average of 9.78 million traded shares per session.

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MARKETS

Gains in OANDO, TOTAL bolsters bullish sentiments in Nigerian stocks

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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 +82.38points. The All-Share Index increased by +0.21% closing at 38,667.90 from 38,585.52 index points.

The oil sector dominated with Total and Oando emerging for the second time this week as the top performers, while UPL took the biggest loss for today’s trading session.

  • The stock exchange market value currently stands at N20.2 trillion. Its Year-to-Date (YTD) returns currently stands at –3.98%.
  • The market breadth closed positive as UNIVINSURE led 30 Gainers, and 11 Losers topped by UPL at the end of today’s session.
  • The stock market has declined -1,602.82 basepoints since the start of the year.

NGX ASI top gainers

  1. UNIVINSURE up +10.00% to close at N0.22
  2. OANDO up +9.97% to close at N3.97
  3. TOTAL up +9.96% to close at N203.20
  4. CUTIX up +9.82% to close at N4.81
  5. GUINNESS up +9.14% to close at N31.65

NGX ASI top losers

  1. UPL down -9.03% to close at N1.41
  2. CHAMPION down -8.89% to close at N2.05
  3. REDSTAREX down -3.03% to close at N3.20
  4. INTBREW down -2.80% to close at N5.20
  5. NAHCO down -2.65% to close at N2.20

Outlook

  • Market sentiments trend towards the bulls as 30 gainers outweigh 11 losers.
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MARKETS

Buy-interests in Guinness shares leads to N5 billion increase in market value

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Guinness Nigeria Plc gained 9.14% today following a heavy buy-interest in the shares of the brewery which triggered a gain of N5.80 billion in market value at the close of trading activities on the Nigerian Exchange Group.

At the close of the market today, data revealed that the shares of GUINNESS advanced from N29.00 per share at the start of trading day, to N31.65 per share at the close of the market today, reflecting a gain of 9.14%.

This saw the market capitalization of the leading maker of beer and spirits grow from N63.52 billion to N69.32 billion at the close of trading activities today, putting the total market value gain at N5.80 billion.

At the current price, the shares of Guinness Plc is currently trading 12.08% lower than their 52-week high of N36.00 per share. However, the shares of the company has returned about 143.46% gains for investors who bought them at their 52-week low trading price of N13.00 per share last week.

During today’s trading hours, 830,962 ordinary shares of Guinness Nigeria Plc worth about N25.72 million, were exchanged in 79 executed deals.

In comparison, the shares of Nigerian Breweries Plc closed flat at N58.00 while the shares of International Breweries Plc and Champion Breweries lost 2.80% and 8.89% to close at N5.20 and N2.05 per share, respectively at the end of today’s trading session.

What you should know

  • At the close of trading activities today, the NGX All-Share Index and Market capitalization appreciated by 0.21% to close at 38,667.90 index points and N20.15 trillion respectively.
  • The NGX Consumer Goods Index appreciated by 0.40% to close the day at 597.32 index points.
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MARKETS

US tech stock dominates as Twitter soars in overnight trading

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Despite an unexpected increase in jobless claims that rekindled some concerns about the economy and brought bond yields lower, technology companies led the way higher in U.S. markets on Thursday. Twitter earnings outperformed views, with revenue increasing by 74%, the highest increase in seven years.

Investors re-entered their favourite tech stocks as optimism about the sector grows ahead of huge earnings releases for some of the sector’s biggest brands next week. Salesforce increased by 2.5%, while Amazon and Facebook increased by 1.4%.

Despite soaring sales growth, Snap and Twitter’s results shattered expectations. In overnight trading, the stocks of Snap and TWTR soared, indicating prospective breakouts. This boosted the stock prices of Facebook (FB), Pinterest (PINS), and Google (GOOG) in the futures market.

Twitter launched its first subscription service in the third quarter, which allows users access to an Undo Tweet button and other features. For users with at least 600 followers, the business also made its Spaces audio chat tool available on mobile devices. It also announced the addition of a Tip Jar function, which will allow users to contribute money to other users on the site.

Twitter outperformed predictions in a variety of categories, including; Earnings: 20 cents per share, adjusted, compared to 7 cents predicted by Refinitiv’s poll of analysts. Also, revenue was $1.19 billion, compared to $1.07 billion as projected by Refinitiv’s polled analysts. Moreover, monetizable daily active users (mDAUs): 206 million vs. 206.2 million as projected by Street Account’s poll of analysts. This caused major movement in the price of Twitter shares as it trended bullish.

Quick Market analysis 

Apple (AAPL) and Microsoft (MSFT) were among the top movers, but Virgin Galactic (SPCE) and AMC Entertainment (AMC) plummeted once more.

The Nasdaq performed the best of the major indexes. It finished with a 0.36% gain. Immunoprecise Antibodies increased by +136.49%, while Sentage Holdings fell by -62.38%. 

The S&P 500 was also up, rising 0.2%. FirstEnergry and Rail stock CSX (CSX) performed most, gaining +4.29% and 3.4% respectively. 

Domino’s Pizza (DPZ) was one of the major winners, finishing up 14.6% on its most recent earnings release.

The Dow Jones Industrial Average gained the least of the main indices. It increased by about 0.07%. One of the top components was Apple stock. With a gain of roughly 1%, it moved away from a buying zone.

In overnight trading, Twitter stock rose nearly 6% to 73.50. Because of the good results from Snap and Twitter, PINS shares jumped 4.5% in extended trading, while Facebook rose by 1.13%. 

SPCE has been battling to get out of a downward spiral since its stock price fell by about 39% last week. Virgin Galactic’s stock dropped after the company announced plans to sell up to $500 million in equity in a regulatory filing.

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