Data presented by Buy Shares indicates that an average Return on Investment for technology stock stands at 44.84% over the last one year. The sector currently has the highest returns in the stock market.
Energy and real estate stocks worst-performing
The consumer cyclical sector has the second-highest ROI at 38%. The data also indicates that the healthcare sector has an ROI of 20.23%. On the other hand, energy and real estate stocks are the worst-performing with an ROI of -35.5% and -10.66% respectively.
Apart from the tech stocks performing well, the healthcare sector also witnessed profitability over its role in managing the pandemic. According to Justinas Baltrusaitis, a financial writer:
“The healthcare sector which has been on the forefront to contain the pandemic has enjoyed a good rally. Investors found comfort in several branches such as pharmaceuticals and digital health, where the transition to remote services was quick as a reaction to the crisis. The sector is currently the center of attention over ongoing trials for a possible vaccine. In recent days, the emergence of a potential vaccine has had a positive effect on the entire stock market.”
The Buy Shares research also overviewed the cumulative market capitalization of the ten leading technology companies. As of August 31st, the capitalization stood at about $4.2 trillion.
Microsoft has the highest market cap at $1.6 trillion. Microsoft’s market cap is at least three times more than second-placed Apple which stands at $552.6 billion.
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.
Insider Dealing: Fidelity Bank’s GM Purchases 1 Million Shares in the 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.
Bank Stocks Top Charts Amid Strong Third Quarter Performance
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.
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