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Stock Exchange Loses N183bn as BUA Cement, Dangote Cement, Cadbury Close in Red

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BUA Cement, Dangote Cement, Cadbury Drag Stock Exchange Down

The Nigerian Stock Exchange resumed bearish trend on Tuesday after rebounding for a day on Monday.

Broad-based profit-taking amid weak business sentiment dictates the pace across the nation’s stock market on Tuesday.

The market capitalisation of listed equities declined by N183 billion from N12.952 trillion recorded on Monday to N12.769 trillion on Tuesday.

While the NSE All-Share Index depreciated by 1.53 percent from 24,858.89 basis points on Monday to 24,479.22 bps on Tuesday.

Activity level was positive as investors traded 280.667 million shares valued at N3.138 billion in 4,464 deals during the trading hours of Tuesday.

In terms of volume traded, First Bank of Nigeria Holdings led with 68.210 million shares valued at N365.019 million. This was followed by the Nigerian Breweries with 22.520 million shares worth N805.421 million.

Japaul Oil, ABBEYBDs and FCMB added 17.828 million shares, 14 million shares and 10.216 million shares valued at N3.824 million, N14.700 million and N19.187 million, respectively.

Top Gainers

Neimeth led top gainers with 10 percent gain to close at N1.65 per share. Okomu oil closely trailed Neimeth with 9.94 percent gain to close at N77.4 per share. Law Union, Vital Form and Nigerian Breweries gained 6.19 percent, 5.47 percent and 3.14 percent to settle at N1.03 per share, N5.59 per share and N36.1 per share, respectively.

Top Losers

Bua Cement and Cadbury led top losers’ table with a 10 percent decline each to close at N38.7 per share and N6.75 per share.

Berger paint loses 9.40 percent to settle at N6.75 per share. WAPCO and Dangote Cement declined by 7.41 percent and 0.78 percent to close at N10 per share and N127 per share, 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.

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Insider Dealing: Flour Mills MD Invest N91.642 Million in Flour Mills

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flour mills posts 184% increase in PAT

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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Insider Dealing: Fidelity Bank’s GM Purchases 1 Million Shares in the Bank

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Fidelity Bank

The General Manager and Regional Bank Head, Fidelity Bank Plc, Mr. Kenneth Opara, has purchased 1 million shares of Fidelity Bank Plc.

The bank stated in a disclosure statement forwarded to the Nigerian Stock Exchange (NSE) on Friday.

Opara carried out the purchase in two different transactions on November 25, 2020 at the Nigerian Stock Exchange trading flour in Lagos, Nigeria.

The General Manager bought 6,000 shares at N2.78 per unit and another 994,000 at N2.79 per share. Bringing total purchase to 1 million shares at an average share price of N2.78. See the details below.

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Bank Stocks Top Charts Amid Strong Third Quarter Performance

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Zenith Bank

Bank stocks top both gainers’ and top traded stocks’ charts on Tuesday as investors at the Nigerian Stock Exchange continues to increase their holdings of banks’ stocks amid strong third-quarter financial results.

Zenith Bank led the most traded stocks for a second consecutive day on Tuesday following a declaration of  N509 billion gross earnings and N177 billion profit after tax in the first nine months of the year.

Investors traded 71,933,841 shares of Zenith Bank valued at N1,730,151,404.20 during the trading hours of Tuesday.

Transcorp, the only non-bank stock on the top five trades, followed Zenith Bank with 37,172,526 shares worth N32,853,263.27.

Guaranty Trust Bank Plc, Access Bank and United Bank for Africa (UBA) exchanged 30,003,182 units, 29,549,235 units and 29,332,033 units estimated at N1,022,126,997.60, N243,311,726.70 and N236,303,261.20, respectively.

Investors exchanged a total of 365.414 million shares valued at N4.692 billion in 6,325 deals on Tuesday to return the bourse to the green zone after two days of consecutive declines.

The Nigerian Stock Exchange market capitalisation rose by N114 billion from N17.829 trillion it closed on Monday to N17.943 trillion on Tuesday. While the NSE All-Share Index gained 220.82 index points or 0.06 percent to 34,349.56 index points it settled on Tuesday, up from 34,119.74 index points on Monday.

Stanbic IBTC Bank led gainers with N2.8 or 7.08 percent gain to finish the day at N42.35 per share. See the details below.

Top Trades 

Symbols Volume Value
ZENITHBANK 71,933,841 N1,730,151,404.20
TRANSCORP 37,172,526 N32,853,263.27
GUARANTY 30,003,182 N1,022,126,997.60
ACCESS 29,549,235 N243,311,726.70
UBA 29,332,033 N236,303,261.20

Top Gainers

Symbols Last Close Current Change %Change
STANBIC N39.55 N42.35 2.8 7.08%
UBA N7.7 N8.2 0.5 6.49%
ACCESS N7.9 N8.35 0.45 5.70%
FBNH N6.7 N7.15 0.45 6.72%
UBN N5.5 N5.9 0.4 7.27%

Top Losers

Symbols Last Close Current Change %Change
JBERGER N19 N17.3 -1.7 -8.95%
FIDSON N5.4 N4.87 -0.53 -9.81%
GUINNESS N18 N17.5 -0.5 -2.78%
ETERNA N4.61 N4.15 -0.46 -9.98%
UACN N7.95 N7.65 -0.3 -3.77%

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