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Nigerian Stock Exchange

Despite Dividends Declaration, Nigerian Stock Exchange Closes in Red Last Week

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stock bear

The Nigerian Stock Exchange (NSE) resumed its bearish trend last week as stocks closed in the red across the board despite the numerous dividends declaration.

The NSE All-Share Index depreciated by 0.76 percent or 299.46 index points to close at 38,916.74 index points last week, down from 39,216.20 index points recorded in the previous week.

Market value of listed stocks dipped by the same 0.76 percent or N157 billion from N20.518 trillion posted in the previous week to settle at N20.361 trillion last week.

In the four trading days due to the Easter Holidays, investors traded 1.445 billion shares worth N19.039 billion in 17,400 deals, against a total of 1.530 billion shares valued at N21.311 billion that exchanged hands in the previous week in 20,016 deals.

In terms of volume traded, the Financial Services Industry led the activity chart with 1.033 billion shares valued at N13.369 billion traded in 9,179 deals, therefore, contributing 71.51 percent and 70.22 percent to the total equity turnover volume and value, respectively.

The Conglomerates Industry followed with 131.153 million shares worth N578.393 million in 811 deals. The third place was Consumer Goods Industry, with a turnover of 92.937 million shares worth N1.750 billion in
2,892 deals.

The top three most traded stocks were Guaranty Trust Bank Plc, Union Bank Nig. Plc and Wema Bank Plc. The three accounted for 670.354 million shares worth N10.331 billion traded in 1,990 deals, therefore, contributed 46.39 percent and 54.26 percent to the total equity turnover volume and value, respectively.

Linkage Assurance Plc led top gainers with 41.18 percent while Daar Communications Plc led top losers with 16 percent as shown below.

The Exchange year-to-date returns stood at -3.36 percent.

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

Experts Says Yes to Access Bank Shares, Predicts Growth

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Access bank

Analysts at United Capital Plc, an investment banking group, have said Access Bank is a good stock to buy given its recent acquisition and series of adjustments made to its strategies.

The analysts said the bank that recently expanded its operations to Cameroon, Kenya, Zambia and South Africa has the possibility of double-digit capital appreciation of about 14 percent.

We expect Access Bank to sustain top and bottom-line expansion in 2021. While non-interest income growth should taper going forward, as the economy stabilises, we imagine that rebounding asset yields, supported by massive balance sheet size and gains from expansion activities, should spur interest income growth,” United Capital stated.

The experts said the bank’s well-diversified loan book is expected to sustain asset quality and thus keep non-performing loans and cost of risk within prudential limits.

Therefore, the analysts expect pre and post tax profits to remain stable in 2021, a continuation of 13 percent pre tax profit growth filed in 2020.

As such, in addition to the already concluded acquisitions, plans are currently in place to enter Morocco, Algeria, Egypt, Ivory Coast, Senegal, Angola, Namibia and Ethiopia. A sum of $60 million was paid to acquire south Africa’s Grobank, a major milestone in the bank’s foray into the south African market and a critical factor in driving intra-African trade by widening its trade finance operations,” United Capital stated.

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Nigerian Stock Exchange

VFD Group Plc Receives SEC Clearance for its Proposed N4.13Billion Right Issue

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Nonso Okpala - VFD Group - investorsking.com

Lagos-based proprietary investment company, VFD Grouphas received clearance from the Securities & Exchange Commission (SEC) for the proposed right issue of 7,452,054 Ordinary Shares of 50 Kobo each at N556 per share based on 1 share for every 16 shares held.

The proposed right issue was approved by the Board of Directors at its Extraordinary General Meeting (EGM) which held on 23rd November 2020. The capital raise is part of the long-term strategic plan of VFD Group to harness the opportunities in selected companies that meet VFD Group’s Investment criteria.

The Group Managing Director/CEO, Nonso Okpala, has expressed his gratitude to the regulatory body, SEC, for the clearance, while hinting on the next phase of the business.

“Our expansion drive has been a long time coming and with this clearance, one of our immediate first steps is the enhancement of our systems, and the integration of all our subsidiary offerings under a very effective and technological platform. We are focused on expanding further within the local financial services industry as well as on the African continent,” he disclosed.

VFD Group is a proprietary investment company that focuses on building positive and socially conscious ecosystems by aggregating potentially viable business with the objective of creating innovative products and solutions that are accessible to the everyday Nigerian citizen and entrepreneur.

VFD Group Plc was founded on the values of integrity and good governance, and built on the strength of innovation and network, the goal of VFD Group is to establish a firm foothold in various ecosystems on the continent through their subsidiary companies. VFD Group operates through various portfolio to provide innovative financial services – alternative funding and investment channels – that are accessible to individuals and small businesses that provide the following services: Financial Advisory, Currency Exchange, Debt services, Private Funds Management, Asset Management, Real Estate, International Remittance/ Settlement.

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Nigerian Stock Exchange

Listed Companies Gained 0.16 Percent on Friday

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Nigerian Stock Exchange

Companies listed on the Nigerian Stock Exchange (NSE) gained 0.16 percent on Friday to push the All-Share Index from 38,571.89 basis points on Thursday to 38,808.01 index points on Friday.

The Exchange market capitalisation rose to N20.310 trillion with investors trading 262.510 million shares valued at N2.438 billion in 3,525 deals.

Fidelity Bank led the most traded stocks in terms of volume with 46,151,809.00 shares valued at N110,562,441.03.

This was followed by First Bank of Nigeria Holdings’ 33,985,247.00 shares worth N258,398,231.05. See the details below.

Top Trades

Symbols Volume Value
FIDELITYBK 46,151,809.00 N110,562,441.03
FBNH 33,985,247.00 N258,398,231.05
GUARANTY 33,465,217.00 N965,283,002.55
MBENEFIT 20,451,489.00 N7,049,340.54
MANSARD 14,092,168.00 N12,247,827.76

Top Losers

Symbols Last Close Current Change %Change
JAPAULGOLD N0.70 N0.63 -0.07 -10.00%
STERLNBANK N1.64 N1.48 -0.16 -9.76%
FCMB N2.92 N2.66 -0.26 -8.90%
MBENEFIT N0.37 N0.34 -0.03 -8.11%
GLAXOSMITH N6.80 N6.40 -0.40 -5.88%

Top Gainers

Symbols Volume Value
FIDELITYBK 46,151,809.00 N110,562,441.03
FBNH 33,985,247.00 N258,398,231.05
GUARANTY 33,465,217.00 N965,283,002.55
MBENEFIT 20,451,489.00 N7,049,340.54
MANSARD 14,092,168.00 N12,247,827.76

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