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Stock Investors Gained N249 Billion Last Week

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Nigeria’s Stock Market Appreciates by N249 Billion Last Week

Nigeria’s stock investors gained N249 billion last week as the Exchange continues to set a new bullish record despite the nation’s uncertainty and weak macro economic fundamentals.

The Nigerian Stock Exchange (NSE) market capitalisation gained 1.59 percent or N249 billion from N15.958 trillion recorded in the previous week to close at N16.207 trillion last week.

The NSE All-Share Index expanded by 1.56 percent or 485.48 index points to settle at 31,016.17 index points last week, up from 30,530.69 index points posted a week earlier.

This brings Nigerian Stock Exchange’s year-to-date return to 15.55 percent, the second highest in the world.

During the week, investors traded 2.067 billion shares worth N22.636 billion in 25,187 deals, against a total of 1.909 billion shares valued at N23.610 billion that were transacted in 23,578 deals in the previous week.

Breaking down activities for the week, the financial services sector led activity chart with 1.575 billion shares valued at N13.725 billion and exchanged in 14,521 deals. The sector, therefore, contributed 76.21 percent and 60.63 percent to the total equity turnover volume and value, respectively.

This was followed by the consumer goods sector with 178.574 million shares worth N3.609 billion exchanged in 4,669 deals. The conglomerate sector came third with a turnover of 102.697 million shares valued at N155.195 million in 599 deals.

Access Bank Plc, FBN Holding Plc and Zenith Bank Plc were the top three most traded stocks by volume and accounted for a combined 686.338 million shares worth N7.599 billion in 4,557 deals. Therefore, the three contributed 33.21 percent and 33.57 percent to the total equity turnover volume and value, respectively.

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.

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Dr. Gilbert Obiajulu Uzodike Buys Cutix Shares Worth N2.15 Million

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Gilbert Obiajulu Uzodike

Dr. Gilbert Obiajulu Uzodike Buys Cutix Shares Worth N2.15 Million

Dr. Gilbert Obiajulu Uzodike, a substantial shareholder in Cutix Plc, purchased 1 million shares of the company on Monday, according to the latest filing with the Nigerian Stock Exchange (NSE).

This was disclosed in the statement signed by Nwokporo Chinwendu (ACIS), Company Secretary.

Dr. Uzodike purchased the 1 million shares at N2.15 per share on January 18, 2021 at the Nigerian Stock Exchange (NSE) in Lagos, Nigeria. Meaning, Dr. Uzodike invested N2.15 million into Cutix Plc. See the details below.

 

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Nigerian Stock Exchange

Stock Investors Lose for Second Consecutive Day This Week

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Stock Investors Lose for Second Consecutive Day This Week

Nigerian equities market declined on Tuesday to extend its bearish trend by another 0.07 percent this week.

During the trading hours of Tuesday, Transcorp led the most traded stocks with 42,940,581 shares valued at N50,240,479.77 while this was followed by Japaul Gold’s 39,588,880 shares worth N50,871,840.63.

Japaul Gold remained Nigeria’s most traded stock in 2021 so far and closed with a 56.70 percent gain last week with stock investors projecting around N5 per share once the company and H&H Mines Limited closed its ongoing deal.

Stock investors traded a total of 525,006,911 shares valued at N5.337 billion in 5,965 deals on Tuesday.

The market value of listed stocks declined by N16 billion from N21.491 trillion recorded on Monday to N21.475 trillion on Tuesday.

The Nigerian Stock Exchange All Share Index declined by 0.07 percent to 41,051.63 index points, down from 41,082.38 index points on Tuesday.

Top Trades in the Nigerian Stock Exchange Tuesday, January 19, 2021

Symbols Volume Value
TRANSCORP 42,940,581 N50,240,479.77
JAPAULGOLD 39,588,880 N50,871,840.63
ZENITHBANK 28,524,941 N745,993,748.10
BUACEMENT 25,699,145 N2,048,857,020.90
COURTVILLE 21,974,395 N5,327,275.31

Top Gainers in the Nigerian Stock Exchange Tuesday, January 20, 2021

Symbols Last Close Current Change %Change
NB N60 N61 1 1.67%
FLOURMILL N31 N32 1 3.23%
NNFM N7.41 N8 0.59 7.96%
PRESCO N74 N74.5 0.5 0.68%
WAPCO N24 N24.5 0.5 2.08%

Top Losers in the Nigerian Stock Exchange Tuesday, January 20, 2021

Symbols Last Close Current Change %Change
ARDOVA N19.7 N18 -1.7 -8.63%
BUACEMENT N79.9 N79 -0.9 -1.13%
UACN N8.35 N7.9 -0.45 -5.39%
ACCESS N9.6 N9.25 -0.35 -3.65%
UBA N9.1 N8.9 -0.2 -2.20%

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Nigerian Stock Exchange

Low Fixed Income Yields, Improved Economic Conditions and Renewed Optimism Propelled 2020 Bullish Run – Onyema

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CEO of the Nigerian Stock Exchange (NSE), Mr

Low Fixed Income Yields, Improved Economic Conditions and Renewed Optimism Propelled 2020 Bullish Run – Onyema

Mr. Oscar N. Onyema, OON, the Chief Executive Officer, Nigerian Stock Exchange (NSE), on Tuesday, identified some of the factors responsible for 2020 end of the year bullish run during his presentation at the annual 2020 Market Recap and 2021 Outlook.

The CEO explained that while COVID-19 plunged stock prices due to huge sell-off in the first quarter, renewed investor optimism following series of adjustments made by the Federal Government to arrest the situation in the second half of the year bolstered economic conditions and stimulate the 50.3 percent gain recorded for the year 2020 by the Nigerian Stock Exchange.

Mr. Onyema stated, “The year 2020 was indeed a historic one for global capital markets. Facing buffeting headwinds, world markets saw sharp swings and steep losses but largely remained resilient and orderly amid rising uncertainty. For The Exchange, renewed investor optimism coupled with improved economic conditions and low fixed income yields propelled a year-end bull run. Of 93 global equity indices tracked by Bloomberg, the NSE All-Share Index (ASI) emerged as the best-performing index in the world, surpassing the S&P 500 (+16.26%), Dow Jones Industrial Index (+7.25%), and other global and African market indexes, to post a one-year return of +50.03%.”

Explaining the negative impact of the COVID-19 pandemic, he said the global capital market lost USD 18 trillion between February and March 2020 alone. However, global markets rebounded to the pre-pandemic level in June 2020, largely due to stimulus packages, monetary policy actions and public health responses from the world governments and economic actors.

On product performance, he said the Nigerian equities market recovered following the “formal declaration of the U.S president-elect, unattractive fixed income yields, and better-than-expected corporate earnings, the NSE ASI recovered from Q1’20, to close the year at 40,270.72 (+50.03%) and erase losses of -14.90% recorded in 2019. During its remarkable year-end run, the ASI gained 6.23% in a single trading session which triggered a 30-minute halt of trading on all stocks for the first time since the NSE Circuit Breaker was introduced in 2016 to safeguard market integrity in periods of extraordinary volatility.”

“At the close of the year, the NSE’s equity market capitalization was up by 62.42%, from N12.97 trillion in 2019 to N21.06 trillion in 2020 while market turnover saw an uptick of 7.25%, from N0.96Tn in 2019 to N1.03Tn in 2020. Although Initial Public Offering activity was mute, the value of supplementary issues increased dramatically from 2019, rising by 851.37% to N1.42 trillion, from N148.77 billion. Also noteworthy is that for the second consecutive year, equity market transactions were dominated by domestic investors who accounted for 65.28% of market turnover by value (Retail: 44.98%; Institutional: 55.02%) while foreign portfolio investors accounted for 34.72%.

“Capital-raising activities in the fixed income market increased significantly in 2020. The NSE’s bond market capitalization rose by 35.52% from N12.92 trillion in 2019 to N17.50 trillion. Continuing the trend in recent years, the Federal Government of Nigeria dominated issuances, raising over N2.36 trillion which comprised ~92% of total bond issuances. Corporates also leveraged the low yield environment to fund expansion objectives and pursue debt refinancing, raising a total of N192 billion.”

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