Nigerian Stock Investors Gain N390 Billion Last week
The Nigerian Stock Exchange closed strong last week after the Central Bank of Nigeria led monetary policy lowered the interest rate by 100 basis points to 11.5 percent, down from 12.5 percent.
Investors jumped on undervalued stocks in anticipation that cheap loans would stimulate growth in companies of listed stocks and boost economic productivity.
Last week, investors traded total shares of 1.567 billion valued at N20.559 billion in 18,396 transactions, higher than the 1.139 billion shares worth N12.692 billion that were exchanged in 17,109 deals a week before.
In terms of volume traded, the financial services sector led with 1.178 billion shares valued at N9.180 billion exchanged in 9,900 transactions. The sector contributed 75.14 percent and 44.65 percent to the total equity turnover volume and value, respectively.
This was followed by the consumer goods sector with 90.002 million shares worth N1.688 billion in 2,715 deals. The ICT sector came third with a turnover of 84.667 million shares valued at N5.786 billion in 771 deals.
The top three most traded stocks during the week were Sterling Bank, FBN Holdings Plc and Zenith Bank Plc. Together, the three accounted for 612.805 million shares worth N4.311 billion in 3,739 deals and contributed 39.10 percent and 20.97 percent to the total equity turnover volume and value, respectively.
The market capitalisation of listed equities rose by 2.92 percent or gained N390 billion to close the week at N13.755 trillion. While the NSE All-Share Index gained 2.92 percent or 746.77 basis points from 25,572.57 bps to close the week at 26.319.34 bps.
The Exchange quarter-to-date gain improved to 7.52 percent with September gain accounting for half of the total gain at 3.92 percent.
Similarly, the year-to-date decline moderated to -1.95 percent with the overall improvement in the value of the Nigerian Stock Exchange.
Stock Market Extends Bullish Run in December, Opens the Month With 0.30% Gain
Nigerian stock investors continued to dump more funds on Nigerian equities in December as the Nigerian Stock Exchange opened the month on a positive strong note.
The NSE All-Share Index gained 0.30 percent to settle at 35,147.62 index points while the market capitalisation rose by N56 billion from N18.309 trillion recorded on Monday to settle at N18.365 trillion on Tuesday.
Investors traded 308.181 million shares valued at N3.403 billion in 35,147.62 index points during the trading hours of Tuesday.
Access Bank led the most traded stock 43,368,357 shares worth N376,476,921.75. While First Bank followed with 31,934,748 shares valued at N229,789,381.55. See the details below.
Insider Dealing: MD of Fidelity Bank Acquires 5 Million Shares of Fidelity
Mrs. Nneka Onyeali-Ikpe, the Managing Director and Chief Executive Officer (CEO) Designate, Fidelity Bank Plc, purchased 5,000,000 shares of Fidelity Bank on Monday, November 30, 2020.
The management disclosed this in a statement forwarded to the Nigerian Stock Exchange (NSE).
Onyeali-Ikpe purchased the shares in five different transactions, according to the statement signed by Ezinwa Unuigboje, the Company Secretary, Fidelity Bank Plc.
It said 260,190 shares were acquired at N2.52 per share. While 400,000; 130,000; 2,870,000 and 1,339,810 shares were purchased at N2.55; N2.58; N2.60 and N2.56, respectively.
Aggregate information revealed the 5,000,000 shares were acquired at an average price of N2.56 per share. See the details below.
Despite Opening in Red, The Nigerian Stock Exchange Closed in Green
The Nigerian Stock Exchange closed positive on Monday despite opening the day in the red.
The market capitalisation rebounded from the N51 billion decline recorded earlier in the day to close with N21 billion profit at N18.309 trillion market value.
Similarly, the NSE All-Share Index recovered from a 0.29 percent dip to gain 0.45 percent and closed the day at 35,042.14 index points.
Investors traded 415.531 million shares valued at N4.898 billion in 5,267 transactions during the trading hours of Monday.
Airtel Africa led the most traded stocks with a N53.5 gain to close at N588.5 per share. MTN Nigeria came second with a 20 kobo gain to close at N155.2 a single share. See the details below.
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