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Nigerian Stock Exchange News: Stock Market Expands by N350bn to N14tn Last Week

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Nigerian Stock Exchange

Here is your Nigerian Stock Exchange News for Last Week

The Nigerian Stock Exchange gained N350 billion last week as investors continue to buy stocks following the reduction in interest rate by the Central Bank of Nigeria.

The Nigerian Stock Exchange market capitalisation expanded by 2.55 percent or N350bn to settle at N14.105 trillion last week. While the Nigerian Stock Exchange Index, NSE All-Share Index, appreciated by 2.53 percent to close the week at 26,985.77 basis points.

During the four trading week, investors traded a total turnover of 1.532 billion shares worth N16.901 billion in 17,882 deals, against a total shares of 1.567 billion valued at N20.559 billion that exchanged hands in the previous week.

Sectoral performance showed the financial services industry led in terms of volume traded with 1.292 billion shares worth N10.562 billion transacted in 10,046 deals. Therefore, the sector accounted for 84.29 percent and 62.49 percent of the total equity turnover volume and value, respectively.

The conglomerates’ industry came second with 62.395 million shares worth N89.205 million in 453 deals. In the third place was the industrial goods industry with a total turnover of 55.168 million shares valued at N2.976 billion exchanged in 1,752 deals.

The top three most traded stocks during the week were Zenith Bank Plc, Sterling Bank Plc and United Bank for Africa Plc. The three accounted for a combined 815.646 million shares worth N7.311 billion in 4,461 deals and contributed 53.22 percent and 43.26 percent to the total equity turnover volume and value, respectively.

The Nigerian Stock Exchange Market capitalisation and the Nigerian Stock Exchange Index continues to rise due to the surge in local investors jumping on undervalued stocks with strong fundamentals following the reduction in the nation’s monetary policy rate by 100 basis points to 11.5 percent.

Stock investors are projecting positive outlook in the near-term as they anticipated that an increase in liquidity due to cheap loan will boost stocks of businesses, especially banks and manufacturing companies.

The Central Bank of Nigeria led Monetary Policy Committee had said there is a need to stimulate growth from within following global distruption of supply chain by COVID-19.

Therefore, the apex bank continues to cushion the economy with capital injection in the form of inteventions.

 

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

Stock Market Extends Bullish Run in December, Opens the Month With 0.30% Gain

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stock bull

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.

Top Trades

Symbols Volume Value
ACCESS 43,368,357 N376,476,921.75
FBNH 31,934,748 N229,789,381.55
MBENEFIT 24,434,500 N5,155,841.00
UBA 24,092,641 N200,213,240.15
GUARANTY 24,056,718 N859,153,111.15

Top Gainers

Symbols Last Close Current Change %Change
GUARANTY N33.2 N35 1.8 5.42%
SEPLAT N400.7 N402.3 1.6 0.40%
ZENITHBANK N24 N24.4 0.4 1.67%
CAVERTON N1.72 N1.89 0.17 9.88%
CUTIX N1.53 N1.68 0.15 9.80%

Top Losers

Symbols Last Close Current Change %Change
GUINNESS N18.9 N18.35 -0.55 -2.91%
FLOURMILL N27.85 N27.6 -0.25 -0.90%
MTNN N155.2 N155 -0.2 -0.13%
FCMB N3.33 N3.21 -0.12 -3.60%
UBA N8.3 N8.2 -0.1 -1.20%

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Insider Dealing: MD of Fidelity Bank Acquires 5 Million Shares of Fidelity

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Nneka Onyeali-Ikpe

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.

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Despite Opening in Red, The Nigerian Stock Exchange Closed in Green

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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.

Top Trades

Symbols Volume Value
MULTIVERSE 84,009,000 N16,801,800.00
ZENITHBANK 47,021,980 N1,134,491,309.95
TRANSCORP 34,072,114 N34,291,450.53
ACCESS 29,904,160 N256,045,236.40
MBENEFIT 21,566,583 N4,659,761.09

Top Gainers

Symbols Last Close Current Change %Change
AIRTELAFRI N535 N588.5 53.5 10.00%
MTNN N155 N155.2 0.2 0.13%
AIICO N1 N1.1 0.1 10.00%
UBN N5.5 N5.6 0.1 1.82%
FCMB N3.25 N3.33 0.08 2.46%

Top Losers

Symbols Last Close Current Change %Change
GUARANTY N35 N33.2 -1.8 -5.14%
BUACEMENT N56 N55 -1 -1.79%
UNILEVER N13.75 N12.95 -0.8 -5.82%
NNFM N7.7 N6.93 -0.77 -10.00%
FIDSON N5.47 N4.93 -0.54 -9.87%

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