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Nigerian Stock Exchange Differs Economic Uncertainty, Rises by N2.1 Trillion Last Week

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Nigerian Stock Exchange

There seems to be no stop in sight for the high flying Nigerian stock market as local investors continue to dump huge amounts on stocks despite rising economic uncertainty and weak macro fundamentals.

The Nigerian Stock Exchange market capitalisation rose by a shocking 12.97 percent or N2.101 trillion from N16.207 trillion it settled a week ago to N18.308 trillion last week. The highest in a single week in over 5 years.

Last week, the bourse rose above the 5 percent threshold to trigger the circuit breaker put in place to force decorum in an unusual trading situation like the Exchange is witnessing in recent weeks.

The NSE All-Share Index also gained 12.97 percent or 4021.29 index points from 31,016.17 index point it closed in the previous week to 35,037.46 index points on Friday. Also, the highest appreciation in over half a decade.

The Nigerian Stock Exchange continues to gain across the board — except oil and insurance sectors — despite falling demands, high unemployment rate and weak consumer buying power that is presently hurting sales, profitability and new job creation.

Despite these obvious reasons, investors traded 4.509 billion shares worth N58.733 billion in 47,140 transactions, against a total of 2.067 billion shares valued at N22.636 billion that exchanged hands in 25,187 deals in the previous week.

In terms of volume traded, the financial services industry led the activity table with 3.073 billion shares worth N35.408 billion traded in 25,894 deals. Therefore, contributing 68.15 percent and 60.29 percent to the total equity turnover volume and value, respectively.

This was followed by the conglomerates industry with 437.822 million shares valued at N771.280 million in 1,864 deals

The consumer goods industry came third with a turnover of 373.613 million shares worth N7.816 billion in 7,471 deals.

Zenith Bank Plc, FBN Holding and Transcorp Hotels led by volume with a combined 1.426 billion shares valued at N18.083 billion in 9,537 deals. The three contributed 31.63 percent and 30.79 percent to the total equity turnover volume and value traded, respectively.

The Nigerian Stock Exchange total gain rose to 30.53 percent year-to-date while the total gain in the final quarter represents around half of the gain at 14.76 percent.

Top gainers for the week were Oando Plc, Japaul Oil & Maritime Services Plc, others as shown below.

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.

Nigerian Stock Exchange

Seplat Gained N25.597 Billion on Thursday to Top Other Stocks

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seplate to announce financial results on July 29, 2020

Seplat Gained N25.597 Billion on Thursday to Top Other Stocks

Seplat Petroleum Development Company Plc (Seplat) on Thursday led top gainers with N43.5 or 8.76 percent gain to settle at N540 per share.

The stock opened the day at N496.5 per share with investors trading 122,487 shares of Seplat during the trading hours of Thursday.

On Thursday, investors traded total shares of 809.362 million valued at N8.906 billion in 6,706 deals.

The market value of listed stocks rose by 1.54 percent to settle at N21.419 trillion while the NSE All-Share Index advanced to 40,963.14 index points.

Transcorp led most traded stocks’ chart with 136,578,001 shares estimated at N130,187,282.08. Mbenefit followed with 70,590,783 shares worth N27,389,418.45. See the details below.

Top Trades

Symbols Volume Value
TRANSCORP 136,578,001 N130,187,282.08
MBENEFIT 70,590,783 N27,389,418.45
GUARANTY 68,993,112 N2,251,734,120.25
WAPCO 61,851,781 N1,423,886,590.65
FBNH 44,533,521 N329,473,070.35

Top Gainers

Symbols Last Close Current Change %Change
SEPLAT N496.5 N540 43.5 8.76%
DANGCEM N230 N237 7 3.04%
MTNN N165 N168 3 1.82%
ARDOVA N20 N21.85 1.85 9.25%
NASCON N15.95 N17.5 1.55 9.72%

Top Losers

Symbols Last Close Current Change %Change
NEIMETH N2.2 N2.06 -0.14 -6.36%
GUINNESS N18.9 N18.85 -0.05 -0.26%
NAHCO N2.29 N2.25 -0.04 -1.75%
JAIZBANK N0.72 N0.7 -0.02 -2.78%
COURTVILLE N0.24 N0.22 -0.02 -8.33%

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Nigerian Stock Exchange (NSE) to Provide 2021 Outlook and Review 2020 Activities on January 19, 2021

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Nigerian Stock Exchange

Nigerian Stock Exchange (NSE) to Provide 2021 Outlook and Review 2020 Activities on January 19, 2021

The Nigerian Stock Exchange (NSE) said it will conduct the 2020 market recap and 2021 outlook on Tuesday, 19 January 2021.

The Exchange, however, said in light of the present COVID-19 pandemic, the event will be held virtually and can be accessed by members of the stockbroking community, analysts, regulators, media, and other stakeholders.

Interested participants can register via the link: http://bit.ly/nse-2021-outlook.

Mr. Oscar N. Onyema OON, the Chief Executive Officer, NSE, and other Executive Committee will give a presentation at the event.

The presentation will covers:

• Global capital market review, particularly the impact of the COVID-19 pandemic
• A review of the performance of The Exchange. This will cover product performance (Equities, Fixed Income and Exchange Traded Products); The NSE’s strategic performance across business development (listings, index launch, strategic projects, etc.); market initiatives (business partnerships, innovation, advocacy, and more); and Corporate Citizenship development (ESG related efforts).

Also, the event will feature a special presentation from Managing Director, Chief Economist, Africa and the Middle East, Global Research, Standard Chartered Bank, Ms. Razia Khan, on the prognosis for 2021 – local and international market postulations, capital market projections, and more.

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Nigerian Stock Exchange

Adim Renwick Jibunoh, Director United Capital, Sells 5000 Shares of United Capital

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United-capital

Adim Renwick Jibunoh, Director United Capital, Sells 5000 Shares of United Capital

Adim Renwick Jibuno, one of the directors of United Capital Plc, sold 5000 shares of the company, according to the latest filing with the Nigerian Stock Exchange.

In a statement signed by Leo Okafor, Company Secretary, United Capital Plc, Jibunoh sells 5,000 units at an average price of N4.50 per share on December 09, 2020.

The transaction took place at the Nigerian Stock Exchange (NSE) trading floor in Lagos, Nigeria. See the details below.

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