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Stock Market Gains as Dangote Cement, Mobil, Others Closed in the Green

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Dangote Cement, Mobil, Others Boost Nigerian Stock Exchange

The Nigerian Stock Exchange closed in the green on Thursday as the stocks of mobil, dangote cement and others closed higher.

Investors traded 359.307 million shares valued at N3.873 billion in 3,576 transactions during the trading hours of Thursday.

The market capitalisation of listed equities grew to N13.581 trillion while the NSE All-Share Index gained 0.79 percent to close at 25,987.14 basis points. See the details below.

Top Trades by Volume

Symbols Volume Value
STERLNBANK 71,887,769 N83,405,971.86
GUARANTY 51,731,768 N1,345,500,739.80
ZENITHBANK 44,543,315 N759,119,098.15
FIDELITYBK 37,046,328 N67,021,470.60
FLOURMILL 29,414,759 N588,344,013.10

Top Gainers

Symbols Last Close Current Change %Change
NB N43.5 N47.85 4.35 10.00%
MOBIL N193.1 N195.1 2 1.04%
DANGCEM N134.7 N135.9 1.2 0.89%
WAPCO N13.2 N14.1 0.9 6.82%
GUARANTY N25.5 N26 0.5 1.96%

Top Losers

Symbols Last Close Current Change %Change
ARDOVA N11.4 N10.3 -1.1 -9.65%
UNILEVER N14.4 N13.6 -0.8 -5.56%
REDSTAREX N3.25 N3 -0.25 -7.69%
CAP N17.1 N17 -0.1 -0.58%
DAARCOMM N0.33 N0.3 -0.03 -9.09%

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.

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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Nigerian Stock Exchange

Nigerian Exchange Limited Gains N59.4 Billion on Monday

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Nigerian Stock Exchange - Investors King

Stocks in Africa’s largest economy, Nigeria, gained N59.4 billion on Monday amid positive first-quarter results.

The Nigerian Exchange Limited All-Share Index rose by 0.29 percent from 39,198.75 index points it closed on Friday to settle at 39312.74 index points on Monday.

During the trading hours of Monday, investors traded 324.187 million shares valued at N3.281 billion in 4,867 deals.

The market value of listed stocks grew by N59.4 billion from N20.431 trillion recorded on Friday to N20.491 trillion on Monday.

Regency Assurance Plc (Regalins) led gainers with N0.03 or 9.68 percent to close the day at N0.31 per share.

Associated Bus Company Plc (ABCTRANS) followed with the same amount of gain, N0.03 or 9.68 percent to settle at N0.31 a share. Union Bank of Nigeria came third with N0.5 or 9.26 percent to close at N5.5 per share. See the details below.

Top Gainers 

Symbols Last Close Current Change %Change
REGALINS N0.31 N0.34 0.03 9.68%
ABCTRANS N0.31 N0.34 0.03 9.68%
UBN N5.40 N5.90 0.50 9.26%
LINKASSURE N0.69 N0.75 0.06 8.70%
MBENEFIT N0.37 N0.40 0.03 8.11%

Top Losers

Symbols Last Close Current Change %Change
UNITYBNK N0.60 N0.55 -0.05 -8.33%
JAPAULGOLD N0.60 N0.56 -0.04 -6.67%
NEIMETH N1.82 N1.71 -0.11 -6.04%
FLOURMILL N31.00 N29.50 -1.50 -4.84%
CHAMS N0.22 N0.21 -0.01 -4.55%

Top Trades

Symbols Volume Value
ETRANZACT 72,175,979.00 N162,395,952.75
ZENITHBANK 44,000,748.00 N1,015,465,286.05
ACCESS 22,978,740.00 N189,173,515.95
UBA 16,585,198.00 N119,352,727.00
MANSARD 16,429,809.00 N14,202,316.49

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