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Nigerian Stock Exchange Sheds N39 Billion on Monday

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Nigerian Stock Exchange Sheds N39 Billion on Monday

The Nigerian Stock Exchange opened the week in the red despite strong optimism.

Investors traded 738.525 million shares valued at N4.173 billion in 7,396 deals during the trading hours of Monday.

While market capitalisation of listed equities declined by 0.23 percent or N39 billion from N21.53 trillion recorded on Friday to settle at N21.491 trillion on Monday.

The NSE All-Share Index dipped by 93.76 index points from 41,176.14 it closed on Friday to 41,082.38 index points on Monday.

Japaul Gold led the most traded stocks with 92,361,027 shares worth N145,792,642.99 as investors continued to jump the company ahead of its mine deal with H&H Mines Limited. See the details below.

Top Trades in the Nigerian Stock Exchange

Symbols Volume Value
JAPAULGOLD 92,361,027 N145,792,642.99
UNIVINSURE 51,788,957 N10,406,751.46
TRANSCORP 43,145,307 N46,165,478.49
FBNH 39,767,470 N298,246,718.35
MANSARD 38,198,945 N63,881,964.03

Top Gainers in The Nigerian Stock Exchange

Symbols Last Close Current Change %Change
BOCGAS N12.52 N13.77 1.25 9.98%
CADBURY N9.5 N10.45 0.95 10.00%
GUARANTY N33.05 N33.65 0.6 1.82%
LIVESTOCK N2.11 N2.32 0.21 9.95%
WAPCO N23.8 N24 0.2 0.84%

Top Losers in the Nigerian Stock Exchange

Symbols Last Close Current Change %Change
DANGCEM N237 N234.6 -2.4 -1.01%
FLOURMILL N32.8 N31 -1.8 -5.49%
GUINNESS N19 N18.5 -0.5 -2.63%
FBNH N7.6 N7.3 -0.3 -3.95%
NASCON N17.55 N17.25 -0.3 -1.71%

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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Zoom Shares Plunge Despite Strong Earnings Report

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Zoom’s Share Price Plunge to $341.57 as Investors Dumps Holdings

Zoom Shares plunged on Wednesday despite a strong fourth-quarter earnings report filed on Monday.

The video calling software maker posted earnings per share of $1.22, against 79 cents per share predicted by analysts.

Revenue stood at $882.5 million, more than the $811.8 million expected by analysts, according to Refinitiv.

On a yearly basis, revenue grew by 369 percent in the fourth quarter that ended Jan.31, 2021, slightly more than the 367 percent increase recorded in the previous quarter. Thanks to lockdown that forced many people to adopt Zoom globally following the COVID-19 outbreak in China.

The company expanded its gross margin from 66.7 percent achieved in the third quarter to 69.7 percent in the fourth quarter. The slight increase was as a result of the drop in audio usage due to the holidays, stated Kelly Steckelberg, Finance Chief, Zoom.

Zoom ended the fourth quarter with $4.24 billion in cash, cash equivalents and marketable securities, up from $1.87 billion recorded in the third quarter.

According to Steckelberg, the company is looking to acquire companies with its huge cash, however, she said “We just haven’t quite found the right match yet.”

The company added 467,100 customers with more than 10 employees during the period under review. That represents a 470 percent increase over the same quarter of last year.

1,644 customers contributed $100,000 in trailing 12 months revenue, up approximately 156 percent increase from the same period of last year.

Why Zoom Shares Plunge Despite Strong Performance

Global investors are no longer keen on Zoom shares given the slow down in the COVID-19 crisis and better COVID-19 vaccine distribution. Stock investors are predicting a slow down in growth in 2022 fiscal year, especially with businesses reopening and people expected to resume normal operations later in 2021.

Also, the company’s projection for the 2022 fiscal year revealed that management only sees 42 percent growth in revenue to $3.77 billion and adjusted earnings per share of $3.62, an 8 percent increase, against the 326 percent increase in revenue posted in 2021 fiscal year.

Zoom’s share price plunged from $437.01 on Tuesday to $341.57 on Wednesday as investors continue to whine down on their holdings.

Eric Yuan, the company founder and Chief Executive Officer, remains optimistic ahead of 2022.

He said, “As we enter FY2022, we believe we are well-positioned for strong growth with our innovative video communications platform, on which our customers can build, run, and grow their businesses; our globally recognized brand; and a team ever focused on delivering happiness to our customers.

 

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Nigerian Stock Exchange

Japaul, Champion, Others Weigh on Nigeria’s Stock Exchange

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Japaul, Champion, Others Weigh on Nigeria’s Stock Exchange

The Nigerian Stock Exchange closed in the red again on Wednesday as bearish sentiment persists across the board.

Investors traded 244.342 million shares estimated at N4.128 billion in 4,714 transactions during the trading hours of Wednesday.

The Nigerian Stock Exchange All-Share Index depreciated by 0.44 percent to settle at 39,522.06 index points. While the market value of listed stocks closed lower at N20.678 trillion.

Japaul led the losers’ table with a 10 percent decline. This was followed by NEM Insurance Plc’s 9.91 percent decline. See the details below.

Top Losers

Symbols Last Close Current Change %Change
JAPAULGOLD N0.6 N0.54 -0.06 -10.00%
NEM N2.12 N1.91 -0.21 -9.91%
CHAMPION N2.05 N1.85 -0.2 -9.76%
NPFMCRFBK N1.9 N1.72 -0.18 -9.47%
LINKASSURE N0.56 N0.51 -0.05 -8.93%

Top Gainers

Symbols Last Close Current Change %Change
SEPLAT N530 N583 53 10.00%
AIICO N1.15 N1.21 0.06 5.22%
CORNERST N0.58 N0.61 0.03 5.17%
UAC-PROP N0.8 N0.84 0.04 5.00%
CUTIX N2.14 N2.23 0.09 4.21%

Top Traded Stocks

Symbols Volume Value
ZENITHBANK 41,382,080 N1,060,149,129.45
GUARANTY 28,990,998 N919,822,730.20
UCAP 24,606,285 N145,323,889.68
MANSARD 17,592,232 N18,459,572.61
FBNH 16,540,558 N115,786,636.85

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Nigerian Stock Exchange

11 Plc, Formerly Mobil Oil, Extends One Month Given to Shareholders to Accept Delist Conditions 

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11 Plc Extends the Dissenting Period for Delist

11 Plc on Tuesday said it has extended the one-month period given to shareholders to elect to accept the Exit Consideration by another 10 working days.

The company disclosed in a statement released on the Nigerian Stock Exchange (NSE).

11 Plc formerly known as Mobil Oil Nigeria Plc had highlighted plans to delist from the Nigerian Stock Exchange on 9th February 2021, saying the company’s shareholders have between February 1, 2021 to March 1, 2021 to accept the Exit Consideration of the Company.

According to the company, the extension was to allow shareholders enough time to make their decision and ensure a fair process.

Therefore, shareholders that still wish to dissent were asked to forward their completed election forms to the Registrar- Greenwich Registrars & Data Solutions Limited located at 274 Murtala Muhammed Way, Alagomeji-Yaba on or before Monday, 15th of Match 2021.

11 Plc added that “It is however necessary to reiterate that shareholders that intend to remain members of the company are free to remain and may decide to keep their shares (which will be tradable on the NASD OTC platform).

The company plans to purchase the interest of dissenting shareholders at N213.90 per share, the highest amount the company shares traded in the last six months.

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