Stock Market Unchanged on Wednesday
The Nigerian Stock Exchange closed flat on Wednesday after gaining about N5 billion on Tuesday.
Investors traded 218.425 million shares valued at N3.139 billion in 3,896 transactions during the trading hours of Wednesday. Suggesting that investors are holding back to assess the potential of the bourse to sustain the ongoing momentum above the current level.
The Exchange rose above N15.100 trillion last week for the first time in 5 years shortly after the central bank reduced the nation’s monetary policy rate by 100 basis points to stimulate growth. However, economic uncertainties surrounding the projected third-quarter recession and the ongoing youth protest has started impacting business sentiment.
The Nigerian Stock Exchange market capitalisation of listed equities remained unchanged at N14.815 trillion while the Nigerian Stock Exchange index remained flat at 28,344.33 basis points.
Zenith Bank led top traded stocks by volume with 53.046 million shares valued at N1.061 billion. Followed by UBA’s 33.461 million shares worth N223.402 million. See the details below.
Top Traded Nigerian Stocks Today
Top Gainers Today
Nestle S.A. Gradually Taking Over Nestle Nigeria, Increases Stake Yet Again
Nestle S.A. has once again increased stake in Nestle Nigeria in a move that scream absolute takeover or confidence in the future of Nestle Nigeria Plc.
In the latest statement forwarded to the Nigeria’s Stock Exchange, Nestle Nigeria Plc said Nestle S.A. purchased 102,690 shares of Nestle Nigeria Plc.
The shares were acquired at N1,400 per share on November 20, 2020 at Nigerian Stock Exchange (NSE) in Lagos, Nigeria.
This is Nestle S.A.’s second purchase this month following 229,697 shares of Nestle Nigeria Plc acquired on November 9th, 2020 in Lagos, Nigeria.
Nestle S.A. has invested more than N1 billion in Nestle Nigeria Plc this year alone, forcing investors to think a gradual takeover or change of leadership is around the corner.
Zenith Bank Led Most Traded Stocks After Strong Third Quarter Financial Results
Investors traded 79.741 million Zenith Bank’s share valued at N1.913 billion on Monday following a strong positive third-quarter report released on Friday.
The leading financial institution posted N508.979 billion gross earnings in the nine months ended September 30, 2020. The highest among banks that have so far released their unaudited financial statements.
Investors traded 568.037 million shares worth N7.326 billion in 8,928 transactions during the trading hours of Monday.
The Nigerian Stock Exchange Market Capitalisation declined by N9 billion from N17.838 trillion to N17.829 trillion. While NSE All-Share Index depreciated by 0.04 percent to 34,121.78 index points.
Airtel Africa led top gainers with N25 or 5 percent to close at N525 per share. Nestle trailed Airtel with N25 or 1.82 percent to settle at N1400 per share.
Dangote Cement, BUA Cement and NEM followed with N6.6 or 3.42 percent; N2.55 or 4.77 percent and N0.02 or 0.78 percent to finish the day at N199.8 per share; N56 per share and N2.6 per share, respectively. See the details below.
Top Traded Stocks
Nigerian Stock Exchange Dips by N47 Billion Despite Huge Jump Last Week
The Nigerian Stock Exchange market capitalisation dips by 2.57 percent or N47 billion from N18.308 trillion it closed with last week. This was after the bourse differs economic uncertainties to rise above the 5 percent threshold the previous week.
The NSE All-Share Index closed at 34,136.82 index points, resulting in a decline of 2.57 percent or 900.46 index points from 35,037.46 index points it closed last week.
Investors traded 11.400 billion shares worth N35.892 billion in 39,265 deals, this was in contrast to a total of 4.509 billion shares valued at N58.733 billion that exchanged hands in 47,140 deals in the previous week.
Leading by volume, the Construction/Real Estate industry contributed 74.82% and 16.87% to the total equity turnover volume and value of the market respectively, with 8.529 billion shares valued at N6.055 billion traded in 438 deals.
This was followed by the Financial Services industry with 1.991 billion shares worth N19.933 billion in 21,725 deals.
In third place was the Conglomerates Industry, with a turnover of 423.702 million shares worth N526.698 million in 1,962 deals.
UAC- Property Development Company Plc, Transnational Corporation of Nigeria Plc and Jaiz Bank Plc led equities traded by volume with a combined 9.259 billion shares worth N6.639 billion in 1,958 deals, thereby contributing 81.22% and 18.50% to the total equity turnover volume and value, respectively.
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