Stock Market Gained N19 Billion this Week Despite Unrest
The Nigerian Stock Exchange appreciated by N19 billion this week despite the #EndSARS protest that grounded business activities in major cities.
Investors traded a total turnover of 1.505 billion shares worth N19.668 billion in 20,552 deals during the week, against a total of 1.955 billion shares valued at N22.978 billion that exchanged hands last week in 22,844 deals.
In terms of volume traded, the Financial Services industry led the activity chart with 1.196 billion shares valued at N14.950 billion traded in 11,318 deals; thus contributing 79.47 percent and 76.01 percent to the total equity turnover volume and value respectively.
The Conglomerates industry followed with 97.167 million shares worth N269.045 million in 516 deals.
In third place was the Consumer Goods, with a turnover of 77.588 million shares worth N1.928 billion in 3,461 deals.
Trading in the top three equities was Guaranty Trust Bank Plc, Access Bank Plc and United Bank for Africa Plc. The three accounted for 633.527 million shares worth N10.006 billion in 3,887 deals, together they contributed 42.08 percent and 50.87 percent to the total equity turnover volume and value, respectively.
The Nigerian Stock Exchange Market Capitalisation expanded by 0.13 percent or N19 billion during the week from N14.980 trillion last week to N14.999 trillion this week.
The NSE All-Share Index also gained 0.13 percent or 37.61 basis points from 28,659.45 bps it closed last week to 28,697.06 bps this week.
The index year-to-date return rose to 6.91 percent when the quarter-to-date has risen by 6.95 percent.
Insider Dealing: Flour Mills MD Invest N91.642 Million in Flour Mills
Following the purchase of 1.95 million shares in Flour Mills of Nigeria a few days ago, the Group Managing Director, Paul Miyonmide Gbededo, has purchased another 1.34 million shares at N27.75k per share.
The company stated in a disclosure form released through the Nigerian Stock Exchange (NSE).
Mr. Gbededo bought an additional 1,336,028 shares valued at N37,074,777 on November 19, 2020 at the Nigerian Stock Exchange (NSE) in Lagos. Meaning, Gbededo invested an additional N37,074,777 into Flour Mills in what could be said as a show of confidence in the company’s future.
This brings the Managing Director’s total purchase in November to 3,284,867 shares at a combined value of N91,642,269. See the details below.
Insider Dealing: Fidelity Bank’s GM Purchases 1 Million Shares in the Bank
The General Manager and Regional Bank Head, Fidelity Bank Plc, Mr. Kenneth Opara, has purchased 1 million shares of Fidelity Bank Plc.
The bank stated in a disclosure statement forwarded to the Nigerian Stock Exchange (NSE) on Friday.
Opara carried out the purchase in two different transactions on November 25, 2020 at the Nigerian Stock Exchange trading flour in Lagos, Nigeria.
The General Manager bought 6,000 shares at N2.78 per unit and another 994,000 at N2.79 per share. Bringing total purchase to 1 million shares at an average share price of N2.78. See the details below.
Bank Stocks Top Charts Amid Strong Third Quarter Performance
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.
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