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Stock Investors Gain N720bn in Eight Days

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Egypt Stocks
  • Stock Investors Gain N720bn in Eight Days

Equity investors have counted gains totalling N720bn as the stock market extended its gaining streak to the eighth consecutive day.

The market capitalisation of equities rose to N13.316tn at the end of trading on the floor of the Nigerian Stock Exchange on Tuesday from N12.596tn on December 24, 2019.

In the last trading days in the year 2019, the market gained N362bn and a further N358bn in the first four days of 2020.

At the end of trading on Tuesday, the equities market sustained its bullish trend following price appreciation in Dangote Cement Plc, Zenith Bank Plc and Access Bank Plc, which pulled the All-Share Index up 0.90 per cent to close at 27,586.93 basis points.

Activity level was mixed as volume traded fell by 14.2 per cent to 446.383 million units while value traded increased by 8.8 per cent to N5.820bn.

The top traded stocks by volume were United Bank for Africa Plc (86.8 million units), Zenith Bank (73.2 million units) and FBN Holdings Plc (34.7 million units) while Zenith Bank (N1.5bn), UBA (N709.4m) and Dangote Cement (N697.0m) were the top traded stocks by value.

Performance across sectors was largely bullish as all indices, except the AFR-ICT and oil and gas indices lost due to sell-offs in MTN Nigeria Communications Plc and Forte Oil Plc.

The banking index led gainers with a 1.9 per cent gain consequent on buying interest in Zenith Bank and Access Bank.

Similarly, the industrial goods and insurance indices edged higher on the back of gains in Dangote Cement and Lafarge Africa Plc, as well as Consolidated Hallmark Insurance Plc and AIICO Insurance Plc.

Buying interest in Flour Mills of Nigeria Plc and PZ Cussons Nigeria Plc pushed the consumer goods 0.2 per cent higher.

Investor sentiment weakened as market breadth (advance/decline ratio) waned to 1.4x from the 2.3x recorded on Monday as 26 stocks gained as opposed to 19 losers.

The top five gainers were Fidson Healthcare Plc, PZ Cussons, Unity Bank Plc, Consolidated Hallmark Insurance and Cornerstone Insurance, which gained 9.80 per cent, 9.80 per cent, 9.59 per cent, 9.09 per cent and 8.62 per cent respectively.

The top five losers were NCR Nigeria Plc, Livestock Feeds Plc, Courteville Business Solutions Plc, Forte Oil Plc and Jaiz Bank Plc, whose respective share prices declined by 10 per cent, eight per cent, 7.69 per cent, 6.11 per cent and 4.41 per cent.

Analysts at Afrinvest Securities Limited said following the recent trend in the market, they maintained a bullish outlook on the market this week.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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Banking Sector

Fidelity Bank Doles Out N39 Million to 15 Lucky Customers

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Fidelity Bank Promo - Investors King

In yet another show of its commitment to reward loyal customers for maintaining a savings habit, leading financial institution, Fidelity Bank PLC has presented cash gifts worth N39million to lucky customers at the closing ceremony of the Fidelity Bank’s Get Alert in Millions (GAIM) Promo.

Held at Fidelity Bank’s head office in Lagos on Thursday, 29 July 2021, the well-attended event was conducted in the presence of relevant regulatory bodies including the National Lottery Regulatory Commission (NLRC), Lagos State Lotteries Board (LSLB), and Federal Competition and Consumer Protection Commission (FCCPC).

Speaking at the event, the Managing Director/Chief Executive Officer of Fidelity Bank, Mrs. Nneka Onyeali-Ikpe, ably represented by the bank’s Executive Director -Lagos and SouthWest, Dr. Ken Opara, reiterated the bank’s devotion to supporting initiatives that enrich the lives of its loyal customers even in times of economic uncertainties. She said “Encouraging savings and financially empowering our loyal customers have been a long-standing heritage at Fidelity Bank. We are elated at yet another opportunity to dole out up to N39Million to 15 Nigerians even in this time of economic uncertainty”. She further stressed the bank’s intentional drive towards enhancing CBN’s financial inclusion goal. “As a bank, we continuously position ourselves as key drivers for financial inclusion. Beyond encouraging savings, we believe that our GAIM campaign is a suitable initiative to attract the unbanked to the banking side of life”, Nneka added.

At the event, the duo of Mr. Sunday Okechukwu and Mr. Justine Nwaozor, who won the star prize of N10 million each were credited with their winnings. 13 other winners were credited with N3 million, N2 million, and N1 million accordingly; while 18 lucky customers walked home with consolation prizes including TV sets, refrigerators and generators.

Expressing his delight, a star prize winner, Mr. Sunday Okechukwu said, “I am grateful for this reward and most especially, the initiative. It’s common knowledge that having a healthy savings culture is good for one’s financial wellbeing, however, staying true to savings is sometimes difficult given the times we are in. However, with initiatives like this, savings become easier as we stand a chance to win big. I am glad to have won big, so big enough to turn my life and business around. Truly, Fidelity Bank keeps their word”.

Launched in 2019, Fidelity Bank’s GAIM Season 4 promo is a savings initiative of the bank specifically aimed at promoting a savings culture among Nigerians. Through this campaign, a total of N120 million has been seeded to several Fidelity Bank customers.

As a bank, we are pleased with the outcome of this initiative so far. Having wound up the fourth season of this campaign, it is exciting to see the number of people whose fortunes have changed. Although GAIM Season 4 is over, we will continue to drive initiatives that will, directly and indirectly impact the lives of our customers and Nigerians at large”, disclosed the Head of Savings and Sales, Fidelity Bank Plc, Mr. Ukpai Ibe.

Over the years, the leading tier two Bank has continued to intensify its efforts and innovate ways towards ensuring customer and stakeholder satisfaction. Through this promo, Fidelity Bank has promoted financial inclusion through digital channels and enriched the lives of its customers.

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Finance

NGX Index Sheds 0.79 Percent on Thursday

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Nigerian Exchange Limited - Investors King

The Nigerian Exchange Limited (NGX) Index dipped by 0.79 percent on Thursday to extend its bearish trend to 38484.82 index points.

Investors traded 259.968 million shares worth N1.982 billion in 4,975 transactions during the trading hours of Thursday, against 237,510,446 shares worth N1.882 billion traded in 4,305 transactions during the trading hours of Wednesday. 

Market capitalisation of listed stocks declined by N16 billion from N20.211 trillion recorded on Wednesday to N20.051 trillion on Thursday.

Top Gainers 
Symbols Last Close Current Change %Change
TRIPPLEG N 0.90 N 0.99 0.09 10.00 %
REGALINS N 0.41 N 0.45 0.04 9.76 %
CHIPLC N 0.54 N 0.59 0.05 9.26 %
PRESTIGE N 0.45 N 0.49 0.04 8.89 %
ACADEMY N 0.35 N 0.38 0.03 8.57 %

Top Losers

Symbols Last Close Current Change %Change
OANDO N 5.26 N 4.75 -0.51 -9.70 %
UACN N 11.20 N 10.20 -1.00 -8.93 %
LINKASSURE N 0.65 N 0.60 -0.05 -7.69 %
FTNCOCOA N 0.53 N 0.49 -0.04 -7.55 %
UPDC N 1.26 N 1.19 -0.07 -5.56 %

Top Trades

Symbols Volume Value
OANDO 56252236.00 288491744.30
GTCO 15287119.00 444928298.75
JAIZBANK 14898700.00 9218505.98
FIDELITYBK 14392576.00 34243927.81
WEMABANK 12215080.00 10084097.72

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Banking Sector

FCMB Group Posts 22.1 Percent Decline in Profit in H1 2021

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FCMB - Investors King

FCMB Group Plc, a leading financial institution in Nigeria, recorded a 22.1 percent decline in profit after tax in the first half (H1) of 2021 despite zero COVID-19 restrictions.

The lender gross earnings dipped by 4.02 percent from N98.179 billion achieved in the first half of 2020 to N94.228 billion in the period under review, the bank disclosed in its unaudited financial statements seen by Investors King.

Net interest income also moderated by 5.25 percent from N45.379 billion reported in H1 2020 to N42.998 billion in H1 2021. While net fee and commission income increased to N12.934 billion in the period under review, representing an increase of 33.51 percent from N9.688 billion achieved in the same period of 2020.

Net trading income drop from N3.925 billion in H1 2020 to N2.639 billion in H1 2021, this represents a decline of 32.78 percent.

Other revenue sheds 39.7 percent from N7.555 billion in H1 2020 to N4.552 billion in H1 2021. Profit before minimum tax and income tax decreased by 24.2 percent to N8.911 billion in H1 2021, down from N11.071 billion recorded in H1 2020.

The bank paid N450 million as minimum tax and income tax of N903.797 million to push profit after tax down by 22.1 percent from N9.701 billion in H1 2020 to N7.557 billion in H1 2021.

The lender realised N974.744 million from foreign currency translation differences for foreign operations. This brings the total comprehensive income for the period N8.545 billion.

Earnings per share dipped from N0.49 H1 2020 to N0.38 in H1 2021.

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