The Nigerian Stock Exchange (NSE) extended its bullish run on Wednesday as Zenith Bank led both top gainers’ chat and most traded stocks for the day.
Investors traded 650.549 million shares valued at N2.287 billion exchanged in 3,952 transactions during the trading hours of Wednesday.
The market value of the Exchange rose by 0.76 percent or N140.04 billion to close at N18.551 trillion while the NSE All-Share Index gained the same 0.76 percent or 35,493.15 index points.
Surged in prices of Nestle, Flour Mills, Zenith Bank Guinness and GTBank boosted the Nigerian Stock Exchange on Wednesday.
Jaiz Bank led the most traded equities with 414,976,708 shares worth N216,962,758.06. This was followed by Mansard with 19,335,784 shares estimated at N472,710,228.15.
Japaul Gold and Ventures Extends Gains by 56.70 Percent Last Week Despite Uncertain Mining Deal
Investors don’t seem to be slowing down on Japaul Gold and Ventures Plc after the company announced it was investing in H&H Mines Limited in November 2020 and even changed its name from Japaul Oil and Maritime Services Plc to Japaul Gold & Ventures Plc.
The price of the company’s share gained 55 kobo or 56.70 percent from 97 kobo in the previous week to N1.52 per share last week. The largest gain per single stock on the Nigerian Stock Exchange last week.
Mutual Benefits Assurance Plc followed with 50 percent gain or 14 kobo from 28 kobo per share to 42 kobo per share.
Japaul Gold and Ventures Plc Uncertainties and Risks
Despite a series of complications highlighted by Japaul Gold and Ventures Plc concerning the deal in November, investors seem to be blinded to the level of uncertainties attached to a deal that depends on the success of proposed fundraising to be closed.
The company had announced that it has gotten approval to invest or acquire shares in H&H Mines Limited after its fundraising exercise. Meaning, a failure or suspension of fundraising due to COVID-19 second phase could derail or delay Japaul’s plans to acquire or invest in the company.
Another shocking statement made by Japaul was that the last lap of exploration works will allow the company to know the degree of minerals reserve contained in the mine, meaning it does not know precisely before seeking approval from H&H Mines Limited.
Also, Japaul is not certain it would be carried along, according to an excerpt from the company’s December statement.
“Since Japaul will eventually be part of H&H Mines Limited, it was necessary that Japaul is carried along on the kind of Contract of Drilling to be entered into, and that was why the signing of the Drilling Contract between the Chinese Company and H&H Mines Limited was concluded at Japaul’s Head Office,” the company stated.
Nigerian Stock Investors Gained N552 Billion Last Week
Investors in the Nigerian Stock Exchange (NSE) gained N552 billion last week despite a negative first week of the year.
Investors exchanged 3.447 billion shares worth N32.725 billion in 30,327 deals during the week, against a total of 3.394 billion shares valued at N19.867 billion that exchanged hands in 26,808 transactions in the previous week.
In terms of volume traded, the Financial Services Industry led the activity chart with 1.714 billion shares valued at N13.352 billion exchanged in 15,102 deals and contributed 49.74 percent and 40.80 percent to the total equity turnover volume and value, respectively.
The Construction/Real Estate Industry followed with 768.131 million shares worth N4.203 billion in 430 deals. Conglomerates Industry came third with a turnover of 279.799 million shares estimated at N578.694 million in 1,199 deals.
The three most traded equities during the week were UPDC Real Estate Investment Trust, Mutual Benefits Assurance Plc and Transnational Corporation of Nigeria Plc. Together, the three accounted for 1.224 billion shares worth N4.459 billion in 929 deals and accounted for 35.52 percent and 13.63 percent to the total equity turnover volume and value, respectively.
The NSE All-Share Index gained 2.63 percent or 1,055.92 index points from 40,120.22 index points posted in the previous week to 41,176.14 index points.
While the market value of listed stocks expanded by the same 2.63 percent or N552 billion from N20.978 trillion recorded a week earlier to N21.530 trillion last week.
The Nigerian Stock Exchange has gained 2.25 percent in 2021 so far.
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.
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