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Stock Investors Lose N146 Billion as NSE Extends Decline on Monday

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Investors Lose N162 Billion on Monday as Stock Market Closed in Red Again

Nigerian Stock Exchange (NSE) extended the bearish trend on Monday to close in the red.

The market capitalisation of listed equities depreciated by N146 billion from N12.695 trillion recorded on Friday to N12.549 trillion on Monday.

While NSE All-Share Index declined by 310.07 basis points or 1.27 percent from 24,336.12 bps it closed on Friday to settle at 24,026.05 bps on Monday.

Investors traded a total of 189.69 million shares in 4,216 transactions during the trading hours of Monday as 17 stocks closed negative with just 14 stocks closing in the green.

As usual, the banking subsector dominated in terms of volume traded with a total share of 73.18 million traded in 875 transactions. The renewed interest in the stocks of Guaranty Trust Bank Plc and Fidelity Bank Plc boosted the subsector.

Accordingly, the premium subsector was bolstered by activities of Access and United Bank for Africa as traders exchanged 54,73 million units in 1,580 deals during the hours.

Top Gainers

The Nigerian Aviation Handling Company Plc and Cornerstone Insurance Plc led the gainers’ chart with 10 percent each to close at 55 kobo and N2.20 per share, respectively.

This was followed by Zenith Bank’s 5.25 percent gain to settle at N16.05 per share. Flour Mills added a 5.11 percent gain to close at N18.50 per share.

Top Losers

Beta Glass Plc came first with a decline of 9.95 to settle at N61.55 per share. Julius Berger Plc followed with a loss of 9.81 percent to close at N16.55 per share. While Livestock Feeds Plc depreciated by 9.68 percent to close at 58 kobo a share.

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.

Nigerian Stock Exchange

Stocks on Nigerian Exchange Limited Sustains Gain on Tuesday

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Stock Bull - Investors King

Listed stocks on the Nigerian Exchange Limited gained N36 billion on Tuesday to sustain Monday’s positive momentum.

The bourse All-Share Index rose by 0.18 percent from 39,312.74 index points on Monday to close at 39,382.96 index points on Tuesday. While the market value of listed equities expanded by N36 billion to settle at N20.527 trillion, up from N20.491 trillion recorded on Monday.

Investors traded 296.596 million shares valued at N3.362 billion in 4,265 transactions during the trading hours of Tuesday.

Meyer led gainers with N0.05 or 9.62 percent gain to close at N0.57 per share. This was followed by Presco with N6.90 or 9.58 percent gain as shown below.

Stock Market Snapshot

ASI 39,382.96
DEALS 4,265.00
VOLUME 296,596,623.00
VALUE N 3,361,573,907.37
EQUITY CAP N 20,527,328,320,996.84
BOND CAP N 17,216,586,380,738.50
ETF CAP N 18,261,586,163.62

Top Gainers

Symbols Last Close Current Change %Change
MEYER N0.52 N0.57 0.05 9.62%
PRESCO N72.00 N78.90 6.90 9.58%
UAC-PROP N0.76 N0.83 0.07 9.21%
AFRIPRUD N6.00 N6.55 0.55 9.17%
UNITYBNK N0.55 N0.60 0.05 9.09%

Top Losers

Symbols Last Close Current Change %Change
REGALINS N0.34 N0.31 -0.03 -8.82%
HONYFLOUR N1.20 N1.13 -0.07 -5.83%
CUTIX N2.21 N2.10 -0.11 -4.98%
UCAP N6.00 N5.76 -0.24 -4.00%
WAPIC N0.53 N0.51 -0.02 -3.77%

Top Trades

Symbols Volume Value
ACCESS 58,558,705.00 N494,147,223.85
UACN 38,274,061.00 N394,222,603.70
FIDELITYBK 27,150,533.00 N62,355,969.20
ZENITHBANK 26,421,735.00 N609,738,886.60
TRANSCORP 15,626,067.00 N14,179,618.10

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Stock Market

Global Sell-off Should be a Reality Check for Investors: deVere CEO

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Global Sell off - Investors King

Concerns about inflation that are rattling global stock markets on Tuesday should be used as a reality check for investors, says the CEO of one of the world’s largest financial advisory and fintech organizations.

The observation from Nigel Green, chief executive and founder of deVere Group comes as the pan-European Stoxx 600 index dropped 2.3%, with London’s FTSE 100 falling 2.4%.

Losses in Europe follow those in the Asia Pacific region. Hong Kong’s Hang Seng closed more than 2% lower and Japan’s Nikkei 225 ended the Tokyo trading session having shed more than 3%.

Meanwhile, U.S. futures are down across the board ahead of the opening bell in New York.

Mr Green says: “It is to be expected that there would be a jump in prices and supply shortages, in goods like chips and some commodities, as economies re-open and pent-up demand is unleashed by households, businesses and entire industries.

“We’re at a point of major readjustment following an unprecedented economic shock and this is fuelling concerns that rising inflation will trigger central banks to tighten monetary policy which will hit asset prices.

“It is this scenario that is rattling markets and triggering a global sell-off.”

He continues: “Tech shares are bearing the brunt of the sell-off, but this will also be used as an opportunity.

“With our daily lives becoming ever more digitalized – and at a staggering pace – tech will remain one of the mega-trends for investors for the foreseeable future.

“Savvy investors will be drawn to the massive growth that tech offers and this sell-off will used as a buying opportunity.  Nobody seriously believes the future isn’t online.”

Therefore, says Mr Green, investors would be wise to be “selective” about the sell-off.

“With some of the heat being taken out of the markets, with some stocks way too high, they are likely to – perhaps more judiciously than before – move to capitalize on this dip.”

The deVere CEO concludes: “Of course, I don’t have a crystal ball, but history shows that stock markets typically rise over the longer-term.

“Therefore, in the near future, I predict many investors will be seeking out the buying opportunities that exist.”

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Nigerian Stock Exchange

Investors Jump on Union Bank of Nigeria’s Shares Amid Acquisition Rumour

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Union bank - Investors King

Shares of Union Bank of Nigeria Plc, a leading financial institution in Nigeria, rose by 50 kobo or 9.26 percent on Monday following reports that Atlas Mara Limited, a 49.7 percent owner in the bank has been talking to investors to sell its stake.

Investors King had reported that Bloomberg sources claimed Atlas Mara Limited, a London Stock Exchange-listed pan-African banking group started by Mr. Bob Diamond is in talks with Zenith Bank, Access Bank and other investors across Africa to sell its holding in the bank.

Since the report became public investors have been acquiring shares of Union Bank in case Zenith Bank or Access Bank, one of the leading banks in the country, acquire it. Even the bank’s CEO, Godson Chukwuemeka Okonkwo, purchased an additional 2,431,917 ordinary shares of the bank on Thursday, according to the bank’s latest disclosure filing.

Union Bank of Nigeria was the third-highest gainer on Monday.

The Nigerian Exchange Limited gained N59.4 billion on Monday to close at N20.491 trillion on Monday.

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