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Nigerian Stock Exchange

Emmanuel Nnorom and Family Members Aggressively Mop Up United Capital Shares

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united capital

Emmanuel Nnorom and Family Members Aggressively Mop Up United Capital Shares

Top executives and relatives of United Capital Plc are scooping up the company’s shares aggressively, according to the last eight filings with the Nigerian Stock Exchange (NSE).

Peter Ashade/Artol Investment Company Limited, a related company, bought 1,054,295 units at N 5.29 per share on January 19, 2021. While Shedrack Onakpoma, the Group Chief Finance Officer, added 230,000 units to his existing stake at N 5.35 per share on the same day.

On January 22, 2021, Peter Oladele Ashade/ Artol Investment Company Limited, concluded another purchase of 1,330,613 units at N5.40 per share.

Florence Ihuoma Nnorom, the spouse of the director, Emmanuel Nnorom, bought 250,000 units at N4.52 per share on December 23, 2020.

Also, Miracle Chukwuemeka Nnorom, the son of Director, Emmanuel Nnorom, acquired 32,000 units at N5.42 per share on January 25, 2021.

Emmanuel Nnorom/Vine Foods Limited 2, director and a related company, purchased 1,000,000 units at N5.39 per share on January 25, 2021.

On January 26, 2021, Emmanuel Nnorom/Vine Foods Limited 2 added 500,000 at N5.53 per share to existing stake in the company. On the same day, Adeyemi Damilare Okunubi, operations officer, mopped 70 units at N5.45 per share.

 

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

Transactions on Nigerian Stock Exchange Declined by 13.7 Percent to N232.5 billion in January 2021

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Nigerian stock market

Transactions on Nigerian Stock Exchange Declined by 13.7 Percent to N232.5 billion in January 2021

The total transactions performed by both foreign and local investors at the Nigerian Stock Exchange (NSE) in January 2021 declined by 13.66 percent from N269.24 billion recorded in December 2020 to N232.46 billion.

The bourse stated in its monthly report titled ‘The Nigerian Stock Exchange’s Domestic & Foreign Portfolio Investment Report.’

A breakdown of the report showed foreign investors’ total transactions stood at N47.52 billion or 20.44 percent of the total transactions performed in the month of January, below the N70.32 billion or 29.86 percent recorded in the same month of 2020.

While domestic transactions accounted for N184.94 billion or 79.56 percent, higher than the N165.14 billion or 70.14 percent posted in the corresponding month of 2020.

Foreign inflow stood at N16.73 billion in January 2021, again below the N23.82 billion recorded in January 2020. However, a total of N30.79 billion was withdrawn by foreign investors from the Exchange in the month under review.

Domestic retail investors dumped N67.44 billion on Nigerian assets in January 2021 while domestic institutional investors invested N117.50 billion.

According to the Exchange, the “total domestic transactions accounted for about 74% of the total transactions carried out in 2020, whilst foreign transactions accounted for about 26% of the total transactions in the same period.”

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Nigerian Stock Exchange

Stock Investors Lose N203 Billion Last Week

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Nigerian Stock Exchange

Stock Investors Lose N203 Billion Last Week

Investors in the Nigerian Stock Exchange lost N203 billion last week as the downward trend continues across the board.

Investors traded 1.930 billion shares worth N20.656 billion in 24,687 deals during the week, against a total of 1.541 billion shares valued at N18.235 billion that exchanged hands in the previous week in 22,752 transactions.

In terms of volume traded, the Financial Services Industry led the activity chart with 1.450 billion shares valued at N15.070 billion traded in 14,236 deals, therefore, contributing 75.11 percent and 72.96 percent to the total equity turnover volume and value, respectively.

This was followed by the Conglomerates Industry with 154.906 million shares worth N179.673 million and in 798 transactions.

In the third place was Consumer Goods Industry, with a turnover of 111.782 million shares worth N2.270 billion in 3,865 deals.

During the week, the three most traded equities were the Wema Bank Plc, Zenith Bank Plc and First Bank Holding Plc, the three accounted for a combined 782.167 million shares valued at N8.914 billion and exchanged in 4,624 deals.

The three most traded equities contributed 40.52 percent and 43.15 percent to the total equity turnover volume and value, respectively.

The NSE All-Share Index depreciated by 0.96 percent or 386.81 index points from 40,186.70 index points recorded in the previous week to close at 39,799.89 index points last week.

While market valued of listed equities also dipped by 0.96 percent or N203 billion from N21.026 trillion in the previous week to N20.823 trillion last week.

All indices closed lower with the exception of NSE Banking, NSE AFR Bank Value, NSE MERI Growth and NSE Oil/Gas Indices which rose by 0.69 percent, 1.34 percent, 0.66 percent and 0.97 percent while the NSE ASeM and NSE Growth Indices closed flat.

On a monthly basis, the bourse declined by 6.16 percent and 1.17 percent year-to-date. See top gainers and losers below.

 

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Nigerian Stock Exchange

Dangote Sugar Board of Directors Approves 2020 Audited Financial Statement

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Dangote Sugar Refinery Plc

Board of Directors Has Approved 2020 Audited Financial Statement for Dangote Sugar

The board of directors, Dangote Sugar Refinery Plc, has approved the Financial Statement for the period ended December 31, 2020.

The company disclosed in a statement filed with the Nigerian Stock Exchange on Thursday.

According to the statement signed by Mrs. Temitope Hassan FCIS, Company Secretary/Legal Adviser, Dangote Sugar, the board also recommended the declaration of dividends subject to the approval of shareholders at the Company’s Annual General Meeting to be held in due course.

It stated that “the Closed Period remains in force until 24 hours after the filing of the Financial Statements.

“No insider of the Company, including its Directors, Employees, Advisers and Consultants and their connected persons may deal directly or indirectly in the Shares of the Company during the Closed Period.

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