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Again, Nigerian Stock Exchange Remains Unchanged as Investors Stay on Sideline

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Nigerian Stock Exchange

The Nigerian Stock Exchange Was Unchanged on Thursday as Investors Stay on Sideline

Social unrest amid economic uncertainty continues to dictate sentiment of the Nigerian Stock Exchange as the bourse remained unchanged for the second straight day on Thursday.

Investors traded 342.193 million shares worth N5.039 billion in 4,048 transactions during the trading hours of Thursday.

The market capitalisation of the Nigerian Stock Exchange settled at N14.815 trillion, the same value it closed on Wednesday.

Similarly, the Nigerian Stock Exchange Index remained unchanged at 28,344.04 index points as investors stay on the sideline to assess the ongoing youth protests in the country.

In terms of the volume traded, UBA led with 92.871 million shares valued at N613.559 million. This was followed by Zenith Bank with 67.233 million shares worth N1.349 billion. See the details below.

Top Traded Stocks on Thursday, October 15, 2020

Symbols Volume Value
UBA 92,871,254 N613,559,753.50
ZENITHBANK 67,233,052 N1,349,342,756.90
GUARANTY 62,190,982 N1,840,234,542.80
TRANSCORP 20,830,214 N13,026,964.94
FBNH 19,630,317 N121,627,232.50

Top Gainers on Thursday, October 15, 2020

Symbols Last Close Current Change %Change
WAPCO N17.35 N18.05 0.7 4.03%
GUINNESS N15.5 N16 0.5 3.23%
ETERNA N4.81 N5.29 0.48 9.98%
INTBREW N4.7 N4.85 0.15 3.19%
NB N49.1 N49.2 0.1 0.20%

Top Losers on Thursday, October 15, 2020

Symbols Last Close Current Change %Change
GUARANTY N30 N29.5 -0.5 -1.67%
GLAXOSMITH N5.8 N5.6 -0.2 -3.45%
AFRIPRUD N5.7 N5.54 -0.16 -2.81%
FIDSON N3.67 N3.56 -0.11 -3.00%
ACCESS N7.85 N7.75 -0.1 -1.27%

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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NSE Refutes Anonymous/Hacker Claims, Says It Website Not Hacked

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Nigerian Stock Exchange Says Not Hacked by Anonymous/Hacker

The Nigerian Stock Exchange (NSE) has refuted the claim by a certain anonymous group that it has hacked the company’s website and illegally accessed the NSE database.

In a statement signed by the bourse management and released by the Exchange, it said “we have noted claims from unknown/anonymous groups that they have illegally accessed the website of the NSE. Please be aware that such claims are completely without foundation.

“There has been no breach of the NSE’s website, which continues to operate normally, maintained by the high levels of cyber-security which we have in place.”

It added that “should you have any further questions or receive any enquiries in this regard, please refer same to contactcentre@nse.com.ng.”

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Global Markets Rise on Stimulus Hopes – but Avoid ‘Buy Everything’ Mindset

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Global stock markets have been cheered on hopes of fresh fiscal stimulus in the U.S. imminently – but investors must avoid the ‘buy everything’ mindset, warns the CEO of one of the world’s largest independent financial advisory and fintech organisations.

The comments from Nigel Green, chief executive and founder of deVere Group, follows House Democrat leader Nancy Pelosi saying over the weekend that she was “optimistic” regarding a stimulus deal before the presidential election on 3 November.

In Asia, Hong Kong’s Hang Seng gained 0.5% and Japan’s Nikkei climbed 1.1%, South Korea’s Kospi advanced 0.22%, Australia rose on the day, with the S&P/ASX 200 up 0.85%.

Meanwhile, London’s FTSE rose 0.6%, Germany’s Dax rose 0.9% and the Europe-wide Stoxx 600 climbed 0.8%.

U.S. futures also pointed higher.

Mr Green notes: “The possibility of a fresh fiscal stimulus shot in the U.S. – the world’s largest economy – is acting as a catalyst in driving global stocks higher.

“Investors are moving now to buy stocks to bolster their portfolios ahead of the announcements in the coming days when prices will jump even higher – so they’re taking advantage of what they see as the current lower entry points.”

He continues: “Once again, we’re seeing that few things can fuel markets like a stimulus injection – or even the possibility of one.

“Clearly, investors are not wanting to miss the boat, but they must also avoid the ‘buy everything’ mindset for two reasons.

“First, the markets are now assuming that the new stimulus is a done deal – it is not. If negotiations collapse, the market correction could be significant.

“Second, not all shares are created equal and stock markets are heavily unbalanced at the moment. A handful of firms in a handful of sectors are bringing up entire indexes.

“An experienced fund manager will help investors seek those most likely to generate and build their wealth over the long-term.”

The deVere CEO concludes: “Investing over the long-term on stock markets remains, as ever, one of the best and proven ways to accumulate wealth.

“However, investors must remember not to be complacent when an upbeat mood takes over the markets.”

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Nigerian Stock Exchange Closed Flat on Wednesday Despite Guinness, GTBank, Others Gaining

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Stock Market Unchanged on Wednesday

The Nigerian Stock Exchange closed flat on Wednesday after gaining about N5 billion on Tuesday.

Investors traded 218.425 million shares valued at N3.139 billion in 3,896 transactions during the trading hours of Wednesday. Suggesting that investors are holding back to assess the potential of the bourse to sustain the ongoing momentum above the current level.

The Exchange rose above N15.100 trillion last week for the first time in 5 years shortly after the central bank reduced the nation’s monetary policy rate by 100 basis points to stimulate growth. However, economic uncertainties surrounding the projected third-quarter recession and the ongoing youth protest has started impacting business sentiment.

The Nigerian Stock Exchange market capitalisation of listed equities remained unchanged at N14.815 trillion while the Nigerian Stock Exchange index remained flat at 28,344.33 basis points.

Zenith Bank led top traded stocks by volume with 53.046 million shares valued at N1.061 billion. Followed by UBA’s 33.461 million shares worth N223.402 million. See the details below.

Top Traded Nigerian Stocks Today

Symbols Volume Value
ZENITHBANK 53,046,483 N1,060,724,604.10
UBA 33,461,059 N223,401,880.95
GUARANTY 25,115,996 N753,177,434.50
FBNH 13,678,927 N84,528,747.15
WEMABANK 9,105,078 N4,960,739.58

Top Gainers Today

Symbols Last Close Current Change %Change
GUINNESS N15 N15.5 0.5 3.33%
GUARANTY N29.55 N30 0.45 1.52%
ETERNA N4.38 N4.81 0.43 9.82%
WAPCO N17 N17.35 0.35 2.06%
AFRIPRUD N5.39 N5.7 0.31 5.75%
Symbols Last Close Current Change %Change
STANBIC N44 N42.5 -1.5 -3.41%
ARDOVA N12.45 N12 -0.45 -3.61%
ETRANZACT N2.12 N1.91 -0.21 -9.91%
FCMB N2.35 N2.26 -0.09 -3.83%
CAVERTON N1.8 N1.75 -0.05 -2.78%

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