Nigerian Stocks Exchange Lose N118bn Amid Broad-based Profit Taking
The Nigerian Stocks Exchange (NSE) closed in the red this week as investors continue to take profits following several weeks of bullish runs.
The NSE All-Share Index depreciated by 1 percent or 251.52 basis points to close the week at 25,016.30 basis points, down from 25,267.82 basis points it closed a week ago.
Accordingly, the market capitalisation of listed equities dipped by 0.90 percent from N13.168 trillion last week to N13.050 trillion this week.
Activity level was high as a total turnover of 1.469 billion shares valued at N23.553 billion were exchanged in 22,911 transactions during the week, against the 1.255 billion shares worth N13.501 billion traded in 20,554 deals a week ago.
In terms of volume traded, the financial services sector led with 861.775 million shares valued at N8.545 billion but traded in 11,647 deals. This, according to the NSE report for the week, constitutes 58.66 percent and 36.28 percent of the total equity volume and value traded respectively.
The consumer goods industry followed with 184.644 million shares worth N5.880 billion traded in 3,953 deals while the services sector came third with a turnover of 119.238 million shares valued at N270.084 million exchanged in 1,043 deals.
The most traded stocks during the week were FBN Holdings Plc, Guaranty Trust Bank Place and Zenith Bank plc, the three accounted for 456.576 million shares worth N6.940 billion in 5,921 deals and contributed 31.08 percent and 29.47 percent to the total stock volume and value respectively.
All the indices traded in the week closed lower except NSE AFR Div Yield and NSE Consumer Goods Indices that appreciated by 1.20 percent and 0.26 percent respectively while NSE ASeM closed flat.
The year-to-date decline rose slightly to 6.8 percent this week. While the quarter to date adjusted to 17.44 percent, one the best quarters in the history of the bourse.
So far, the exchange has lost 1 percent this month of June.
Stock Market Opens in The Red on Monday as Dangote Sugar, Zenith Bank, Others Led Losers
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.
Nigerian Stock Exchange Leads Global Stocks, Year-to-date Gain Increased to 30% Last Week
Nigerian Stock Exchange sustained its bullish momentum last week as investors traded a total turnover of 1.816 billion shares valued at N25.791 billion in 31,665 deals.
This was below the 11.400 billion shares worth N35.892 billion transacted in 39,265 deals in the previous week. However, the Exchange managed to sustain its global lead as sentiment remained high despite the economic recession and a series of other uncertainties.
In terms of volume traded, the financial services industry led with 1.274 billion shares estimated at N14.710 billion that exchanged hands in 18,392 deals. Therefore, contributing 70.15 percent and 57.04 percent to the total equity turnover volume and value, respectively.
The conglomerates industry followed with 217.170 million shares valued at N231.809 million and exchanged in 1,226 deals. In third place was the consumer goods industry with a turnover of 113.760 million shares valued at N2.598 billion in 4,568 deals.
Zenith Bank Plc, Transnational Corporation of Nigeria Plc and Access Bank Plc led the most traded stocks in terms of volume. Together, the three accounted for 649.529 million shares valued at N8.104 billion in 6,395 deals and contributed 35.76 percent and 31.42 percent to the total equity turnover volume and value, respectively.
The market capitalisation of listed equities expanded by 2.19 percent to settle at N18.228 trillion while the NSE All-Share Index also gained 2.19 percent or 748.69 index points to 34,885.51 index points, up from 34,136.82 index points recorded in the previous week.
The bourse year to date return rose to 29.97 percent, the highest performer among Bloomberg tracked 93 global stocks. NSE Premium index led with 47.85 percent year-to-date gain while the NSE AFR Div Yield Index trailed with 47.82 percent gain. See the list of top gainers and losers for the week below.
Insider Dealing: Flour Mills MD Invest N91.642 Million in Flour Mills
Following the purchase of 1.95 million shares in Flour Mills of Nigeria a few days ago, the Group Managing Director, Paul Miyonmide Gbededo, has purchased another 1.34 million shares at N27.75k per share.
The company stated in a disclosure form released through the Nigerian Stock Exchange (NSE).
Mr. Gbededo bought an additional 1,336,028 shares valued at N37,074,777 on November 19, 2020 at the Nigerian Stock Exchange (NSE) in Lagos. Meaning, Gbededo invested an additional N37,074,777 into Flour Mills in what could be said as a show of confidence in the company’s future.
This brings the Managing Director’s total purchase in November to 3,284,867 shares at a combined value of N91,642,269. See the details below.
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