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#EndSARS Amid Curfews Plunge Stock Market by N113bn on Wednesday



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#EndSARS Plunges The Nigerian Stock Exchange by N113bn

The Nigerian Stock Exchange erased N113 billion in market value as the uncertainty surrounding #EndSARS agitation and government clampdown that reportedly claimed the lives of peaceful protesters at the Lekki Toll Gate weighed on investors sentiment.

Investors traded 326.58 million shares in 4,367 transactions during the trading hours of the day.

The Exchange closed in the red as 34 stocks led by Royal Exchange closed the trading session in the red.

The All-Share Index depreciated by 216.333 basis points or 0.75 percent from 28,665.82 bps recorded on Tuesday to settle at 28,449.49 bps on Wednesday while the market capitalisation of listed stocks dipped by N113 billion to N14.87 trillion, down from N14.98 trillion it closed on Tuesday.

Economic uncertainty ahead of likely third-quarter recession continued to hurt the Nigerian Stock Exchange, especially with the ongoing social unrest that has grounded business activities in the commercial capital of the nation, Lagos State.

The executive governor of the state, Babajide Sanwo-Olu, had imposed a 24-hour curfew on all parts of the state to curb the activities of criminals using peaceful protest to loot and destroy properties in the state.

However, the increase in unrest is expected to negatively impact on the nation’s foreign direct investment and COVID-19 recovery.

Further breakdown of Wednesday’s trading activities revealed that Wapic Insurance Plc led the gainers’ chart with a gain of 10 percent to settle at 44 kobo a unit share while Portland Paints Plc recorded 2.50 per cent gain to close at N2.05 as share.

UAC Property Plc came third with 1.23 percent to close at 82 kobo per share.

On the other hand, Royal Exchange Plc led losers’ table with 8 percent decline to close the day at 23 kobo as share while Neimeth Pharmaceuticals Plc followed with 757 percent to settle at N1.71 per share.

Union Dicon Plc came third at 7.41 per cent to close at 25 kobo per share.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade experience in the global financial markets.

Stock Market

Bank Stocks Top Charts Amid Strong Third Quarter Performance



Zenith Bank

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.

Top Trades 

Symbols Volume Value
ZENITHBANK 71,933,841 N1,730,151,404.20
TRANSCORP 37,172,526 N32,853,263.27
GUARANTY 30,003,182 N1,022,126,997.60
ACCESS 29,549,235 N243,311,726.70
UBA 29,332,033 N236,303,261.20

Top Gainers

Symbols Last Close Current Change %Change
STANBIC N39.55 N42.35 2.8 7.08%
UBA N7.7 N8.2 0.5 6.49%
ACCESS N7.9 N8.35 0.45 5.70%
FBNH N6.7 N7.15 0.45 6.72%
UBN N5.5 N5.9 0.4 7.27%

Top Losers

Symbols Last Close Current Change %Change
JBERGER N19 N17.3 -1.7 -8.95%
FIDSON N5.4 N4.87 -0.53 -9.81%
GUINNESS N18 N17.5 -0.5 -2.78%
ETERNA N4.61 N4.15 -0.46 -9.98%
UACN N7.95 N7.65 -0.3 -3.77%

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Stock Market

Insider Dealing: Paul Miyonmide Gbededo, MD Flour Mills, Purchased 1.95 Million Shares in Flour Mills



flour mills posts 184% increase in PAT

In a disclosure statement filed with the Nigerian Stock Exchange, the management of Flour Mills of Nigeria Plc said Paul Miyonmide Gbededo, the Group Managing Director, purchased 1,949,839 shares in the company.

In a statement signed by Umolu Joseph, the Company Secretary and Director, Flour Mills of Nigeria, Gbededo bought the 1,948,839 shares at N28 per unit on November 17, 2020.

The Managing Director invested N54,567,492 in Flour Mills of Nigeria Plc in a move that suggested confidence in the future of the company.

The disclosure is in line with the Nigerian Security and Exchange Commission’s new policy on insider dealings. See the transaction details below.

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Stock Market

Insider Dealing: Chide Agbapu Buys 1 Million Shares in Fidelity Bank




The management of Fidelity Bank on Friday said Mr. Chidi Agbapu, a non-executive director, bought 1,000,000 shares of Fidelity Bank Plc.

In line with the Nigerian Stock Exchange (NSE) disclosure policy, the lender said Agbapu purchased the shares in two different transactions on November 9, 2020.

According to a statement signed by Ezinwa Unuigboje, Company Secretary, Fidelity Bank, the shares were purchase in two deals of 500,000 units each at N2.75 per share. See the details below.

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