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U.S stocks fired up, triggered by COVID-19 vaccine

U.S. stocks recorded impressive gains as global traders bet bullish amid signs of a potentially effective COVID-19 vaccine

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U.S. stocks recorded impressive gains as global traders bet bullish amid signs of a potentially effective COVID-19 vaccine and economic recovery in 2021.

What we know

The S&P 500 gained by 1.4% to 3,585.15 points, as it printed impressive gains. The Dow Jones Industrial Average gained 1.4%, to close at 29,479.81 points. The Nasdaq Composite, the tech-dominated index, advanced 1% to 11,829.29.

  • The Russell 2000, which tracks small-cap stocks, jumped more than 2% to an intraday record and posted its first all-time closing high since August 2018.
    Disney closed 2.1% higher on the back of impressive earnings.
  • Shares of cruise operator Carnival rose more than 7%. United Airlines and Boeing were both up more than 5%. At the sector level, energy and industrials rose 3.8% and 2.2%, respectively, to lead the S&P 500 higher. Financials were up more than 1%.

Stephen Innes, Chief Global Market Strategist at Axi, in an explanatory note to our source, spoke on the macros that could disrupt global stocks in the coming week. He said:

“Policymakers need to bridge between this week’s positive vaccine news and mass rollout. A timetable for immunization in the US, for example, could encourage bipartisan efforts to support consumers and firms through 2021. Meanwhile, monetary policymakers can afford to maintain extreme accommodation until CPI inflation rises materially above target.

Related to ongoing policy support, social mobility restrictions will likely remain in place to varying degrees for months to come. Risk assets require carefully calibrated monetary and fiscal policy support for this period.

They will be increasingly sensitive to insufficient policy support as the virus spreads ahead of a vaccine rollout.”

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STOCK MARKET

Nestle, others, drag NGX market capitalization down by N20.38 billion

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The NGX closed on a negative note to sustain the rally amidst sell-offs and buy-interests as the benchmark All-Share Index (ASI) depreciated by 9 basis points. The NGX ASI closed at 43,859.30 points, to reflect a decline of 0.09% from the previous trading day and a Year-to-Date (YTD) return of 2.68%. Meanwhile, the market capitalization decreased by N20.38 billion.

At the close of market on Tuesday 11th January 2022, the stock exchange market value currently stands at N23.63 trillion from N23.65 trillion in the previous trading day.

The market breadth closed negative as BUAFOODS led 17 gainers, and 26 Losers topped by MBENEFIT at the end of today’s session. The stock market has advanced 1,142.86 base points since the start of the year.

NGX ASI Top gainers

  • BUAFOODS up +10.00% to close at N64.35
  • ETERNA up +5.09% to close at N5.57
  • UBN up +4.63% to close at N5.65
  • WEMABANK up +3.57% to close at N0.87
  • OANDO up +2.83% to close at N4.73

NGX ASI Top losers

  • MBENEFIT down – 10.00% to close at N0.27
  • BERGER down – 9.94% to close at N7.70
  • UPDCREIT down – 8.14% to close at N3.95
  • NESTLE down – 7.81% to close at N1435
  • UNITYBNK down – 6.12% to close at N0.46

NGX ASI Top Traded by Volume

  • TRANSCORP – 58,356,986 units
  • BUAFOODS – 51,526,040 units
  • FBNH – 16,506,883 units
  • GTCO – 14,050,268 units
  • ACCESS – 13,337,434 units

NGX ASI Top Traded by Value

  • BUAFOODS – N3,315,699,168.00
  • SEPLAT – N596,916,173.50
  • STANBIC – N381,532,603.15
  • DANGCEM – N381,456,136.10
  • GTCO – N358,212,819.95

Market sentiments trend towards the bears with the market differential being in favour of the decliners as 17 gainers were surpassed by 26 losers.

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STOCK MARKET

Cement makers, Dangote and BUA Cement, start year on bearish note

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Cement makers, Dangote Cement Plc and BUA Cement Plc have resumed the year on a negative note amid positive market rally.

The decline recorded in the share price of both companies has weighed down the Industrial Index, which tracks the daily and weekly performance of quoted Industrial companies, depreciating by 2.41%, from 2067.58 points the previous day, to 2017.78 points, at the end of the trading session.

Two of the major quoted cement companies, Dangote Cement Plc and BUA Cement Plc, depreciated by 2.72% and 2.71% respectively.

Stock performance summary

Dangote Cement Plc

Dangote Cement Plc share price declined from N257.00 to N250.00, reflecting a decrease of 2.72% at the end of the day’s trading session.

The decrease in share price took the market capitalization down from N4.38 trillion to N4.26 trillion supporting a loss of N119 billion in market capitalization at the close of trading activities on the stock exchange.

The shares of the most capitalized company on The Exchange has declined by 2.72% from year-to-date, starting the year at N257.00 and currently traded at N250.00. However, the shares of the company have returned about 26.20% gains for investors who bought them at their 52-week low trading price of N198.10 per share.

BUA Cement Plc

BUA Cement Plc share price depreciated from N71.95 to N70.00, reflecting a decrease of 2.71% at the end of the day’s trading session.

The decrease in share prices of the cement producer took the market capitalization down from N2.44 trillion to N2.37 trillion bringing the decline to N66.04 billion in market capitalization at the close of trading activities on the Nigerian Stock Exchange.

The shares of BUA Cement Plc have advanced by 4.40% from year-to-date, starting the year at N67.05 and currently traded at N70.00. However, the shares of the company have returned about 14.38% gains for investors who bought them at their 52-week low trading price of N61.20 per share.

At the end of the day’s trading activities, the NGX All-Share Index and market capitalization appreciated by 1.00% from the previous trading day, to close at 43,476.75 index points and N23.43 trillion respectively.

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STOCK MARKET

Equity investors sustain positive rally as the NGX grows by N70.69 billion

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The NGX has continued to sustain the positive rally amidst sell-offs and buy-interests as the benchmark All-Share Index (ASI) appreciated by 30 basis points.

The NGX ASI closed at 43,607.94 points, to reflect a growth of 0.30% from the previous trading day and a Year-to-Date (YTD) return of 2.09%. Meanwhile, the market capitalization increased by N70.69 billion.

At the close of market on Thursday 6th January 2022, the stock exchange market value currently stands at N23.50 trillion from N23.43 trillion in the previous trading day. The market breadth closed positive as BUAFOODS led 24 gainers, and 13 losers topped by SUNUASS at the end of today’s session. The stock market has advanced 891.50 base points since the start of the year.

NGX ASI Top gainers

  • BUAFOODS up +10.00% to close at N48.40
  • ACADEMY up +9.09% to close at N0.60
  • MEYER up +8.70% to close at N0.50
  • REGALINS up +6.67% to close at N0.48
  • LIVESTOCK up +6.22% to close at N2.05

NGX ASI Top losers

  • SUNUASS down –9.76% to close at N0.37
  • NEM down – 7.78% to close at N4.15
  • FTNCOCOA down – 7.69% to close at N0.36
  • OANDO down – 5.15% to close at N4.60
  • UNILEVER down – 3.45% to close at N14.00

NGX ASI Top Traded by Volume

  • FBNH – 27,092,946 units
  • UBA – 22,026,842 units
  • TRANSCORP – 11,996,487 units
  • BUAFOODS – 11,289,437 units
  • ZENITH –10,267,378 units

NGX ASI Top Traded by Value

  • BUAFOODS – N544,692,788.80
  • FBNH – N307,295,893.00
  • ZENITHBANK – N260,603,050.05
  • UBA – N177,521,867.85
  • NGXGROUP – N134,255,689.40

Market sentiments trend towards the bulls with the market differential being in favour of the advancers as 24 gainers surpassed 13 losers.

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