Nigerian Investors Gained N1.334 Trillion Following Reopening of Land Borders
The Nigerian Stock Exchange (NSE) extended its bullish run last week after President Muhammadu Buhari approved the reopening of four land borders.
Investors traded 1.893 billion shares valued at N17.647 billion in 20,660 deals during the week, against a total of 2.265 billion shares valued at N20.990 billion that exchanged hands in 23,722 transactions in the previous week.
In terms of volume traded, the financial services industry led the activity chart with 1.489 billion shares worth N8.385 billion traded in 10,834 deals. Therefore, contributed 78.65 percent and 47.52 percent to the total equity turnover volume and value, respectively.
The consumer goods industry came second with 106.986 million shares valued at N2.360 billion and traded in 3,447 deals. The services industry came third with a total turnover of 74.754 million shares estimated at N191.833 million in 448 deals.
Also, read FG Approves Reopening of Seme Border, Others
Jaiz Bank, First Bank and Niger Insurance led the most traded equities by volume, accounting for 761.866 million shares valued at N1.468 billion in 1,395 deals. The three equities contributed a combined 40.25 percent and 8.32 percent to the total equity turnover volume and value, respectively
The market value of listed equities rose by N1.334 trillion or 7.46 percent from N17.902 trillion it closed in the previous week to N19.236 trillion last week. While NSE All-Share Index expanded by the same 7.46 percent or 2,554.01 index points from 34,250.74 index points posted in the previous week to 36,804.75 index points last week.
The Exchange has now gained 20.55 percent in this final quarter, 5.03 percent in December and 37.12 percent from the year-to-date.
Nigerian stock market rebounded from the previous week’s decline after Buhari ordered the immediate reopening of the nation’s land borders to facilitate commerce with neighboring countries.
Local investors are expecting the move to boost stocks of certain sectors, especially the banking and manufacturing sectors. Also, the rebound in crude oil prices after both the United Kingdom and the United States approved Pfizer COVID-19 vaccine and the almost agreed $900 billion COVID-19 aid by US lawmakers bolstered global confidence and sentiment last week.
Presco Plc to Hold Emergency Meeting to Recommend Acquisition of Private Company to Shareholders
Presco Plc, an agro-industrial company, has notified shareholders of the company, the Nigerian Exchange Group and the investing public that the Board of Directors of Presco Plc will hold an emergency meeting on Thursday 24th June, 2021 to recommend for the shareholders to consider the acquisition of an existing private company through shares.
The existing private company, according to a statement signed by Patrick Uwadua Esq., Company Secretary, Presco Plc, is in the same line of business with Presco Plc.
Presco said once considered, a resolution will be passed at the company’s next General Meeting to authorise the acquisition of all the shares of the existing private company.
Meanwhile, the company commenced its closed period on today, Wednesday 16 June 2021 until 24 hours after the decisions taken at the Board Meeting are released to the public.
Cornerstone Insurance, Morison, Others Lead Gainers as Stock Market Gains
Nigerian Exchange Group rebounded from 1.66 percent decline recorded on Tuesday to close with 0.15 percent gain on Wednesday as more stocks closed in the green.
Investors traded 302,722,917 shares valued at N2.809 billion during the trading hours of Wednesday, against the 297.35 million shares worth N3.65 billion that were exchanged in 4,402 deals on Tuesday.
Market value of listed stocks appreciated from N20.07 trillion on Tuesday to settle at N20.099 trillion on Wednesday.
Nigerian Exchange Group All-Share Index gained 0.15 percent from 38,507.29 index points on Tuesday to 38564.70 index points on Wednesday.
Cornerstone Insurance led gainers with 10 percent, while Morison followed with 9.68 percent as shown below. Sterling bank emerged the most traded stocks with 37473362.00 shares valued at N57825053.65.
|CORNERST||N 0.50||N 0.55||0.05||10.00 %|
|MORISON||N 1.24||N 1.36||0.12||9.68 %|
|LEARNAFRCA||N 0.92||N 0.98||0.06||6.52 %|
|AFRIPRUD||N 6.05||N 6.40||0.35||5.79 %|
|COURTVILLE||N 0.20||N 0.21||0.01||5.00 %|
|ABBEYBDS||N 1.05||N 0.95||-0.10||-9.52 %|
|CHIPLC||N 0.74||N 0.67||-0.07||-9.46 %|
|CWG||N 1.24||N 1.15||-0.09||-7.26 %|
|WAPIC||N 0.57||N 0.53||-0.04||-7.02 %|
|REGALINS||N 0.48||N 0.45||-0.03||-6.25 %|
Stock Market Gains N230 Billion Last Week
The Nigerian Exchange Limited gained N230 billion last week as more stocks closed in the green.
The market value of listed stocks and the Nigerian Exchange Limited All-Share Index expanded by 1.11 percent to close the week at N20.41 trillion and 39.156.28 index points, respectively.
Investors traded 1.06 billion shares valued at N12.8 billion in 17,854 transactions during the week, against a total of 1.08 billion shares worth N9.55 billion were traded in 17,933 transactions in the previous week.
In terms of volume traded, the financial services industry led the activity table with 714.677 million shares estimated at N5.95 billion traded in 9,718 transactions. Therefore, contributing 67.53 percent and 46.38 percent to the total equity turnover volume and value traded, respectively.
This was followed by the consumer goods industry with 97.18 million shares estimated at N3.29 billion in 3,006 transactions.
In third place was the ICT industry with a turnover of 75.99 million shares valued at N583.72 million in 679 deals.
The top three most traded stocks (measured by volume) were Zenith Bank Plc, Sterling Bank Plc and Fidelity Bank Plc. The three accounted for 261.34 million shares valued at N2.71 billion and traded in 2,862 deals. The top three most traded equities in the week contributed 24.70 percent and 21.13 percent to the total equity turnover volume and value.
During the week, 35 stocks closed in the green, against 33 posted in the previous week. A total of 36 equities rose as against 33 equities in the previous week, while 89 equities remained unchanged as against 94 in the previous week.
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