- Dangote, GTBank, MTN Sustain Stock Market, Investors Gained N48bn
Dangote Cement, MTN Nigeria and Gtbank led top gainers on Tuesday to bolster the Nigerian Stock Exchange to N48 billion profit.
The market capitalisation of listed equities rose by N48 billion from N13.194 trillion to N13.242 trillion on Tuesday. While the NSE All-Share Index expanded by 0.27 percent or 67.28 basis points to settle at 25,338.43 basis points, up from 25,316.15.
Activity level was mixed as 377.9 million shares valued at N6.1 billion were exchanged in 4,585 deals against 253.3 million shares worth N2.7 billion traded in 4,775 transactions on Monday.
Therefore, while the volume and value of stocks traded grew by 49.18 percent and 128.87 percent, respectively, transactions done declined by 3.98 percent.
Accordingly, 20 stocks recorded gains against 18 equities that closed in the red during the trading session.
Dangote Cement led the gainers’ table with N2 to close at N141 per share, while GTBank followed with 55kobo to settle at N25.10 per unit share.
MTN Nigeria added 50 kobo to close at N116.50 per share, NASCON rose by 20 kobo to settle at N11.30 a share, while SAHCO expanded by 18 kobo to traded at N2.07 per unit.
The sectoral analysis showed the insurance sector gained the most on Tuesday, adding 0.44 percent. This was followed by 20kobo from the industrial goods sector.
Further breakdown showed the most attractive stock during the trading hours was Nigerian Breweries that sold 50.5 million shares valued at N2.2 billion.
GTBank traded 40.5 million shares valued at N1.0 billion. Zenith Bank, AIICO Insurance and FBN Holdings traded 34.9 million shares, 29.5 million shares and 27.7 million shares worth N599.0 million, N31.1 million and N151.1 million, respectively.
Insider Dealings: Fidelity, UBA and Cutix Executives Stock Transactions
Insider Trades of Executives of Fidelity, UBA and Cutix
As always, Investors King Ltd documents all insider trades within the Nigerian Stock Exchange to allow stock investors and the public have an insight into what is going on in each of the listed companies.
In filings to the Nigerian Stock Exchange, Fidelity Bank Plc said Mr. Gbolahan Joshua, an Executive Director of the bank, purchased 2,323,529 shares at 1.80 per unit share on September 23, 2020.
Similarly, the lender said another Executive Director, Mr. Obaro Odeghe, acquired 2,000,000 shares in two transactions. The bank said Odeghe purchased 1,978,500 shares at N1.79 per share and another 21,500 shares at N1.80 per share on September 23, 2020 in Lagos.
Also, Cutix Plc announced that Dr. Gilbert Obiajulu Uzodike added to his stake in the company, the substantial shareholder bought additional 300,000 shares at N1.70 per share on September 18, 2020.
He acquired another 45,321 shares at N1.70 per share on September 21, 2020.
Meanwhile, Tony Elumelu, the Board Chairman of UBA, added 116 shares at N6.0 per share to its holding in UBA, according to the latest filing released on the Nigerian Stock Exchange.
The entrepreneur cum philanthropist and his family have been on buying spray this week. As reported by Investors King on Thursday, the acquired around 5 million shares of UBA earlier in the week to up their stake in the bank.
Stock Market Gains as Dangote Cement, Mobil, Others Closed in the Green
Dangote Cement, Mobil, Others Boost Nigerian Stock Exchange
The Nigerian Stock Exchange closed in the green on Thursday as the stocks of mobil, dangote cement and others closed higher.
Investors traded 359.307 million shares valued at N3.873 billion in 3,576 transactions during the trading hours of Thursday.
The market capitalisation of listed equities grew to N13.581 trillion while the NSE All-Share Index gained 0.79 percent to close at 25,987.14 basis points. See the details below.
Top Trades by Volume
Insider Dealings: Tony Elumelu and Family Move to Completely Takeover UBA
Tony Elumelu, Relatives Increase Stake in UBA
In eight different filings with the Nigerian Stock Exchange (NSE), the Board Chairman, UBA, Tony Elumelu and relatives increased stake in United Bank for Africa (UBA) in a move that suggested confidence in the lender’s future and an opportunity to increase Elumelu family’s stake in one of Africa’s largest banks.
In one of the filings, Awele Elumelu, one of the relatives purchased 156,097 shares at N5.9999 per share on Tuesday, September 22, 2020 in Lagos.
This was followed by Nneka Elumelu and Ogechukwu Elumelu, relatives of the Chairman that acquires 106,464 shares and 127,673 shares at N6.0 per share per unit on the same day in Lagos.
Ogechukwu Elumelu added 127,219 shares and another 106,428 shares at N6.0 per share to take her total purchases to 361,323 shares.
Onyinye Elumelu bought 107,250 shares at N6.0 per share while Toby Onyemaechi Elumelu purchased UBA shares in two transactions, 7,460 shares and 7,452 shares at N6.0 per share.
Tony O. Elumelu, CON, the Board Chairman of UBA, purchased 4,817,855 shares at N5.9999 per share.
Likely scenario for an all out purchases, the family may want to capitalise on the low stock price given the current weak stock market outlook or there is an underground deal or detail they are privy to as witnessed during access bank Zambian acquisition a few months back.
The move may also be a gift to relatives from one of Africa’s richest men.
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