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Nigerian Stock Exchange

Dangote Cement Leads Stock Gainers Following Share Buyback Announcement

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Stock Bull - Investors King

Dangote Cement, Eternal Plc, Led Gainers on Tuesday

Dangote Cement led gainers with a N14.6 increase to settle at N245 per share following plans to buy back 1.704 billion shares.

The company’s market value rose by 6.34 percent on Tuesday to N4.175 trillion immediately the details of the first tranche of the buyback plans became public.

Investors traded 442.221 million shares valued at N10.288 billion in 4,948 deals during the trading hours of Tuesday.

Also, read Dangote Cement to Buy Back 1.704 Billion Shares

Market value of listed equities closed at N19.805 trillion on Tuesday, while the NSE All-Share Index gained 1.20 percent to 37,893.6 index points.

The year to date return extended further to 40.7 percent on Tuesday, the highest globally going by Bloomberg tracked 93 indexes.

Nigerian investors jumped on Dangote Cement after the leading cement manufacturer announced it would be buying back a total of 1.704 billion shares in tranches starting from December 30, 2020.

Also, the announcement that a new investor is coming onboard of Eterna Plc following an agreement reached between current substantial shareholders and the intending new investor boosted the price of Eterna Plc by 10 percent or 41 kobo to N4.51 per share as investors interpreted the news as new capital inflow given the rebound in crude oil and reopening of the nation’s land borders. See the details of Tuesday’s transactions below.

Top Trades

Symbols Volume Value
ZENITHBANK 59,024,334 N1,445,449,067.15
MANSARD 39,268,569 N40,120,959.34
GUARANTY 38,218,079 N1,261,227,603.65
JAPAULGOLD 33,050,313 N13,009,882.79
FBNH 29,929,599 N209,453,565.45

Top Gainers

Symbols Last Close Current Change %Change
DANGCEM N230.4 N245 14.6 6.34%
ETERNA N4.1 N4.51 0.41 10.00%
CADBURY N8.65 N9 0.35 4.05%
ZENITHBANK N24.3 N24.5 0.2 0.82%
UBA N8.2 N8.4 0.2 2.44%

Top Losers

Symbols Last Close Current Change %Change
CAP N20 N19.05 -0.95 -4.75%
GUARANTY N33.5 N33 -0.5 -1.49%
WAPCO N22.5 N22 -0.5 -2.22%
REDSTAREX N3.43 N3.1 -0.33 -9.62%
VITAFOAM N7.25 N7 -0.25 -3.45%

Also, read Substantial Shareholders Plan to Divest from Eterna Plc

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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Nigerian Stock Exchange

Presco Plc to Hold Emergency Meeting to Recommend Acquisition of Private Company to Shareholders

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Presco Plc - Investors King

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.

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Nigerian Stock Exchange

Cornerstone Insurance, Morison, Others Lead Gainers as Stock Market Gains

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stock bull - Investors King

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.

Top Gainers 

Symbols Last Close Current Change %Change
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 %

Top Losers 

Symbols Last Close Current Change %Change
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 %

Top Trades

Symbols Volume Value
STERLNBANK 37473362.00 57825053.65
ETI 27396295.00 142467020.85
WEMABANK 27146019.00 15001766.29
GUARANTY 26491561.00 745342100.20
JAPAULGOLD 22136983.00 11040985.74

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Nigerian Stock Exchange

Stock Market Gains N230 Billion Last Week

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Nigerian Exchange Limited - Investors King

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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