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Stock Investors Lose N6 billion on Thursday but Stock Market Remains Bullish 

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Nigerian Stock Exchange

Stock Market Remains Bullish Despite Slight Decline on Thursday

The Nigerian Stock Exchange (NSE) maintained its bullish trend above the N16 trillion market value on Thursday despite a slight decline.

The NSE All-Share Index declined by 0.01 percent from 30,741.88 basis points it closed on Wednesday to 30,738.92 bps on Thursday while the market capitalisation of the Nigerian Stock Exchange dipped by N6 billion from N16.068 trillion recorded on Wednesday to N16.062 trillion.

Investors traded total shares of 430.121 million worth N6.619 billion in 4,319 transactions during the trading hours of Thursday, against the 286,446 million shares valued at N3.095 billion exchanged in 2,889 transactions on Wednesday.

First Bank led in terms of volume traded with 61,492,912 shares valued at N390,604,278. This was trailed by Bua Cement’s 50,275,230 shares worth N2,284,311,145.15.

Access Bank, Transcorp and Zenith Bank followed with 46,235,997, 38,542,495 and 35,991,832 shares valued at N373,696,787.95, N29,576,586.47 and N787,370,328.60, respectively.

Leading the top gainers’ chart was Afriprud with 9.35 percent. See the details below.

The Nigerian Stock Exchange remained bullish given the series of strong third-quarter reports and the positive support from the Central Bank of Nigeria’s monetary policy adjustment.

Also, the banks are yet to release their third-quarter report, strong financial reports from the banking sector could further boost the second gaining stock market in the world to almost N16.500 trillion.

Nigerian Stock Exchange Top Gainers for Thursday, November 4, 2020

Symbols Last Close Current Change %Change
AFRIPRUD N5.67 N6.2 0.53 9.35%
UNILEVER N13.7 N14.1 0.4 2.92%
GUARANTY N32.1 N32.3 0.2 0.62%
FBNH N6.3 N6.45 0.15 2.38%
LEARNAFRCA N1.05 N1.15 0.1 9.52%

Nigerian Stock Exchange Top Losers for Thursday, November 4, 2020

Symbols Last Close Current Change %Change
FLOURMILL N28.4 N27.6 -0.8 -2.82%
INTBREW N6.9 N6.5 -0.4 -5.80%
FIDSON N4.4 N4.1 -0.3 -6.82%
UBN N5.5 N5.3 -0.2 -3.64%
GLAXOSMITH N5.9 N5.8 -0.1 -1.69%

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

Insider Dealing: Flour Mills MD Invest N91.642 Million in Flour Mills

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flour mills posts 184% increase in PAT

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.

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Stock Market

Insider Dealing: Fidelity Bank’s GM Purchases 1 Million Shares in the Bank

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Fidelity 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.

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Stock Market

Bank Stocks Top Charts Amid Strong Third Quarter Performance

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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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