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Nigerian Stock Exchange Depreciates Slightly Last Week

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Nigerian Stock Exchange Declines Marginally Last Week

The Nigerian Stock Exchange (NSE) once again closed in the red last week as stocks of Wapic Insurance, Nigerian Breweries, Conoil, 11 Plc (formerly Mobil), Ecobank, etc dragged down The Exchange.

Activities on the trading floor rose during the week as investors traded 1.016 billion shares valued at N7.436 billion in 18,092 transactions, against a total of 901.542 million shares worth N13.453 billion exchanged in 18,676 deals in the previous week.

In terms of volume traded, the financial services sector led with 784.322 million shares worth N3.305 billion that were exchanged in 10,592 deals. Therefore, the sector contributed 77.23 percent and 44.45 percent to the total equity turnover volume and value, respectively.

This was followed by the oil and gas industry with 61.822 million shares worth N418.191 million in 984 transactions.

The consumer goods sector came third with a turnover of 42.999 million shares valued at N1.102 billion in 2,848 deals.

Sterling Bank Plc, FCMB Holdings Plc and FBN Holdings Plc led equities traded as they accounted for a combined 416.989 million shares worth N791.078 million traded in 2,752 deals.

The NSE All-Share Index and Market Capitalisation depreciated by 0.08 percent or 18.70 basis points from 24,306.36 bps it closed in the previous week to 24,287.66 bps last week.

The market capitalisation of listed equities also declined slightly to N12.670 trillion last week. Bringing the year-to-date decline to 9.52 percent.

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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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