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Stock Market Sustains Bullish Run on the Back of PRESCO, MTN Nigeria

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  • Stock Market Sustains Bullish Run on the Back of PRESCO, MTN Nigeria

The Nigerian Stock Exchange sustained bullish run on Wednesday as PRESCO, MTN Nigeria led gainers’ table.

The NSE All-Share Index expanded by 0.10 percent to 25,407.96 basis points, up from 25,338.43 basis points it closed on Tuesday. While the market capitalisation of listed stocks rose slightly to N13.254 trillion from N13.242 trillion it closed on Tuesday.

A total of 353.329 million shares valued at N7.035 billion were exchanged in 4,659 transactions during the trading hours of Wednesday.

FBNH emerged the most traded stock with investors exchanging a total of 50.290 million shares worth N377.355 million on Wednesday.

This was followed by the Nigerian Breweries with 45.931 million unit shares valued at N2,020,820,081.70. Guaranty, Japauloil and Zenith Bank did 42.397 million, 23.101 million and 21.795 million shares worth N1,060,381,996.85, N5,995,504.95 and N373,019,743.50.

Presco led top gainers with 9.04 percent or N3.75 to close at N45.25 per share. MTN Nigeria rose by 1.29 percent from N116.5 per share to close at N118 during the trading hours of Wednesday.

Stanbic, ETI SKYAVN gained 2.15 percent or 70 kobo, 7.77 percent or 40 kobo and 9.66 percent or 0.2 kobo to settle at N33.2, N5.55 and N2.27 per shares.

On the other hand, Guinness led losers’ chart with 5 percent or N1 decline to close at N19 per share, down from N20 on Tuesday.

UACN followed with 8.33 percent or 70 kobo decline to N7.7 per share. Dangote cement also joined the list of losers with 0.35 percent or 50 kobo to N140.5 from N141 per share it traded on Tuesday.

CIleasing and PZ declined by 9.35 percent or 50 kobo and 9.43 percent or 0.5 kobo to close at N4.85 and N4.8, respectively.

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.

Stock Market

Despite Opening in Red, The Nigerian Stock Exchange Closed in Green

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The Nigerian Stock Exchange closed positive on Monday despite opening the day in the red.

The market capitalisation rebounded from the N51 billion decline recorded earlier in the day to close with N21 billion profit at N18.309 trillion market value.

Similarly, the NSE All-Share Index recovered from a 0.29 percent dip to gain 0.45 percent and closed the day at 35,042.14 index points.

Investors traded 415.531 million shares valued at N4.898 billion in 5,267 transactions during the trading hours of Monday.

Airtel Africa led the most traded stocks with a N53.5 gain to close at N588.5 per share. MTN Nigeria came second with a 20 kobo gain to close at N155.2 a single share. See the details below.

Top Trades

Symbols Volume Value
MULTIVERSE 84,009,000 N16,801,800.00
ZENITHBANK 47,021,980 N1,134,491,309.95
TRANSCORP 34,072,114 N34,291,450.53
ACCESS 29,904,160 N256,045,236.40
MBENEFIT 21,566,583 N4,659,761.09

Top Gainers

Symbols Last Close Current Change %Change
AIRTELAFRI N535 N588.5 53.5 10.00%
MTNN N155 N155.2 0.2 0.13%
AIICO N1 N1.1 0.1 10.00%
UBN N5.5 N5.6 0.1 1.82%
FCMB N3.25 N3.33 0.08 2.46%

Top Losers

Symbols Last Close Current Change %Change
GUARANTY N35 N33.2 -1.8 -5.14%
BUACEMENT N56 N55 -1 -1.79%
UNILEVER N13.75 N12.95 -0.8 -5.82%
NNFM N7.7 N6.93 -0.77 -10.00%
FIDSON N5.47 N4.93 -0.54 -9.87%

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Moderna Shares Jumped 20.24 Percent After Announcing Plans to Seek Approval for COVID-19 Vaccine in US and Europe

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COVID-19 Vaccine: Moderna to Seek Emergency Authorisation in US, Europe

The share price of Moderna, an American Biotechnology company, rose by 20.24 percent or $25.71 on Monday after the company announced plans to apply for US and European emergency authorisation for its COVID-19 vaccine that it claimed was 100 percent effective in preventing severe cases and 94.1 percent on the regular.

Tal Zaks, Moderna Chief Medical Officer, said “We believe that we have a vaccine that is very highly efficacious. We now have the data to prove it.”

“We expect to be playing a major part in turning around this pandemic,” Zaks stated.

This is coming two days after the United Kingdom ordered 40 million doses of Pfizer and BioNTech COVID-19 vaccine and announced plans to commence usage as early as December 7th.

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Stock Market Opens in The Red on Monday as Dangote Sugar, Zenith Bank, Others Led Losers

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Nigerian Stock Exchange

Nigerian stock market opened the week in the red following consecutive weeks of strong performance.

In the early hours of the day, investors traded 121.196 million shares valued at N985.177 million in 2,572 transactions.

The Nigerian Stock Exchange market capitalisation dipped by N51 billion from N18.288 trillion to N18.177 trillion. While the NSE All-Share Index declined by 0.29 percent to 34,784.54 index points.

N Nigeria Flour Mills Plc led losers with a 10 percent decline. Followed by Neimeth, Dangote Sugar, Zenith Bank and Guaranty Trust Bank with 9.63 percent, 3 percent, 1.23 percent and 0.86 percent, respectively. See the details below.

Top Trades

Symbols Volume Value
TRANSCORP 19,644,249 N19,905,215.96
MBENEFIT 18,107,400 N3,918,776.00
ZENITHBANK 14,802,655 N356,221,166.85
MANSARD 10,056,283 N25,438,143.39
ACCESS 7,420,108 N63,444,003.35

Top Gainers

Symbols Last Close Current Change %Change
MANSARD N2.34 N2.49 0.15 6.41%
NEM N2.47 N2.55 0.08 3.24%
UPL N1.38 N1.41 0.03 2.17%
CUTIX N1.7 N1.73 0.03 1.76%
LIVESTOCK N1.3 N1.33 0.03 2.31%

Top Losers 

Symbols Last Close Current Change %Change
NNFM N7.7 N6.93 -0.77 -10.00%
DANGSUGAR N20 N19.4 -0.6 -3.00%
ZENITHBANK N24.45 N24.15 -0.3 -1.23%
GUARANTY N35 N34.7 -0.3 -0.86%
NEIMETH N2.7 N2.44 -0.26 -9.63%

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