Stock Investors Gained N186bn as Dangote Cement, GTbank, Zenith Closed in Red
Stock investors at the Nigerian Stock Exchange (NSE) recorded N186 billion profit on Monday as stocks of Dangote Cement, Guaranty Trust Bank, and others closed in the green.
The market capitalisation of listed equities increased by N186 billion to N12.929 trillion on Monday, up from N12.743 trillion recorded on Friday.
Accordingly, NSE All-Share Index gained 1.46 percent from 24,427.73 basis points recorded on Friday to 24,783.61 bps.
Investors traded 169.998 million shares valued at N2.385 billion in 4,336 transactions during the trading hours of Monday. See the details below.
Flour Mill, Conoil, Guinness, Others Gain as Nigerian Stock Exchange Hit N15.147 Trillion
Nigerian Stock Exchange Hit N15.147 Trillion Market Value as Flour Mill, Conoil, Guinness Led Gainers
Buying pressure continues to fuel stock appreciation in the Nigerian Stock Exchange despite the economic uncertainties expected to hurt the Exchange outlook and drag on the nation’s productivity.
The Nigerian Stock Exchange market capitalisation gained N106 billion to close at N15.148 trillion on Tuesday, up from N15.042 trillion it settled on Monday.
While the NSE All-Share Index expanded by 0.70 percent to finish the day at 28,980.29.
Investors traded a total share of 385.599 million worth N2.914 billion in 5,283 transactions during the trading hours Tuesday.
First Bank led the most traded stocks with 81.781 million shares valued at N505.527 million. This was followed by Access Bank’s 50.721 million shares estimated at N391.235 million.
Fidelity, ETI and UBA came third, fourth and fifth with 35.187 million shares, 24.146 million shares and 20.490 million shares valued at N75.105 million, N121.172 million and N147.116 million, respectively.
Flour Mill led the top gainers’ chart after reporting an impressive 68 percent profit after tax in the first half of 2020/21.
The leading integrated food business and agro-allied Group gained N2.3 or 9.50 percent to settle at N26.5 per unit. Conoil trailed with N1.55 or 9.81 percent to N17.35 a share.
Guinness, Cadbury and GTBank appreciated by 90 kobo or 5.63 percent, 70 kobo or 9.21 percent and 60 kobo or 1.96 percent to close the day at N16.9, N8.3 and N31.25, respectively. See the details below.
Nigerian Stock Exchange Opens the Week Positive as Investors Gain N42 Billion
Stock Investors Gained N42 Billion as Market Capitalisation Rose Above N15 Trillion
The Nigerian Stock Exchange opened the week strong as investors on the bourse gained N42 billion on Monday despite the curfews and looting that trailed the #EndSARS protest.
Investors traded a total of 340.8 million shares valued at N5.6 billion in 4,235 transactions on Monday, against the 238 million shares worth N4.4 billion that exchanged hands in 2,942 transactions on Friday.
The strong buying pressure bolstered the Nigerian Stock Exchange market capitalisation by N42 billion from N15.000 trillion it closed on Friday to settle at N15.042 trillion on Monday.
GTbank led in terms of the most traded stocks by volume with 56.8 million shares valued at N1.7 billion. Zenith Bank came second with 47.8 million shares worth N1 billion.
Wapic Insurance, FBN Holdings and UBA recorded 40.1 million shares, 26.1 million shares and 21.8 million shares valued at N14.8 million, N160.1 million and N155.4 million, respectively.
On highest gainers, Flour Mills led with a profit of N1.20 to close at N24.20 per share. This was followed by Dangote Cement, which appreciated by N1 to close the day at N152 per share.
Custodian Investment came third with a gain of 50 kobo to end the day at N5.50 per unit. Ecobank and GlaxoSmithKline came fourth and fifth with 35 kobo profit and 25 kobo profit to settle at N4.90 per share and N5.65 per share, respectively.
On the losers’ top chart was NASCON that depreciated by N1.20 to finished at N13.10 per unit. While the International Breweries lost 29 kobo to close the day at N6.01 per share.
Dangote Sugar declined by 10 kobo to sell at N13.70 per share; Morison Industries dropped 6 kobo to 54 kobo a unit share and NAHCO dipped by 5 kobo to N2.05 per share.
Conoil Declares N1.39 Billion Dividend for 2019 Financial Year
Conoil to Pay Shareholders N1.39 Billion Dividend for 2019 Financial Year
Conoil Plc has approved N1.39 billion dividend payment for its shareholders for the 2019 financial year.
In a statement released by the company on Sunday, shareholders of the company would get a dividend of 200 kobo per 50 kobo ordinary share.
At the virtual 50th Annual General Meeting held on Friday in Lagos, the shareholders agreed unanimously in the commendation for the board and management for the company’s performance and consistency in the payment of dividends.
Conoil grew profit before tax by 10.4 percent to N2.83 billion in the 2019 financial year while profit for the expanded by 9.8 percent to N1.97 billion during the same period.
The oil marketer also grew total assets by 4.4 percent to N63.6 billion while interest expense declined by 26 percent to N1.1 billion during the 2019 financial year.
Addressing shareholders of the company, Mike Adenuga Jr., the Chairman, Conoil Plc, said the strong performance was in line with the promise made to shareholders regarding better execution of value-added products and services.
The chairman said the oil company has set an ambitious growth strategy, driven by broad market penetration and innovation, for the next five years.
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