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Stock Investors Lose N118 Billion This Week Amid Broad-based Profit Taking

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  • Nigerian Stocks Exchange Lose N118bn Amid Broad-based Profit Taking

The Nigerian Stocks Exchange (NSE) closed in the red this week as investors continue to take profits following several weeks of bullish runs.

The NSE All-Share Index depreciated by 1 percent or 251.52 basis points to close the week at 25,016.30 basis points, down from 25,267.82 basis points it closed a week ago.

Accordingly, the market capitalisation of listed equities dipped by 0.90 percent from N13.168 trillion last week to N13.050 trillion this week.

Activity level was high as a total turnover of 1.469 billion shares valued at N23.553 billion were exchanged in 22,911 transactions during the week, against the 1.255 billion shares worth N13.501 billion traded in 20,554 deals a week ago.

In terms of volume traded, the financial services sector led with 861.775 million shares valued at N8.545 billion but traded in 11,647 deals. This, according to the NSE report for the week, constitutes 58.66 percent and 36.28 percent of the total equity volume and value traded respectively.

The consumer goods industry followed with 184.644 million shares worth N5.880 billion traded in 3,953 deals while the services sector came third with a turnover of 119.238 million shares valued at N270.084 million exchanged in 1,043 deals.

The most traded stocks during the week were FBN Holdings Plc, Guaranty Trust Bank Place and Zenith Bank plc, the three accounted for 456.576 million shares worth N6.940 billion in 5,921 deals and contributed 31.08 percent and 29.47 percent to the total stock volume and value respectively.

All the indices traded in the week closed lower except NSE AFR Div Yield and NSE Consumer Goods Indices that appreciated by 1.20 percent and 0.26 percent respectively while NSE ASeM closed flat.

The year-to-date decline rose slightly to 6.8 percent this week. While the quarter to date adjusted to 17.44 percent, one the best quarters in the history of the bourse.

So far, the exchange has lost 1 percent this month of June.

nse

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.

Stock Market

Stock Investors Gain N174 Billion on Friday Following Rate Cut

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Stock Market Sustained Bullish Trend as Investors Jumped on Undervalued Stocks to Take Advantage of Rate Cut

The Nigerian Stock Exchange (NSE) sustained bullish trend on Friday following the Central Bank of Nigeria led-monetary committee decision to lower the interest rate by 100 basis points to 11.5 percent.

The bourse closed in the green to extend Thursday’s gain by 1.28 percent.

The market capitalisation of listed equities rose by N174 billion from N13.581 trillion recorded on Thursday to N13.755 trillion on Friday.

While the NSE All-Share Index gained 1.28 percent from 25,987.13 basis points it closed on Thursday to 26,319.34 basis points on Friday.

Investors traded 335.749 million shares worth N4.277 billion in 4.231 transactions on Friday, up from 359.307 million shares worth N3.873 billion traded in 3,576 transactions on Thursday.

The bourse rose following the reduction in the monetary policy rate to stimulate growth from within. The stocks of businesses responded positively as investors expected cheap loans to bolster activities of businesses and enhance productivity in the near-term.

This, coupled with the substantial dropped in prices of stocks due to COVID-19 and general weak macro fundamental increased the attractiveness of Nigerian stocks to local investors as seen in the past few days with executives from Banks and other listed companies buying stocks to take advantage of the expected increase in value when the result of rate cut start crystalising.

Sterling Bank led the most traded stocks on Friday with 79.578 million valued at N92.314 million. Followed by Zenith Bank with 50.748 million shares worth N878.624 million. See the details below.

Top Traded Stocks

Symbols Volume Value
STERLNBANK 79,577,954 N92,314,376.54
ZENITHBANK 50,747,803 N878,623,923.70
FBNH 34,216,127 N176,204,579.95
UBA 26,689,897 N163,149,250.95
ACCESS 22,222,171 N147,938,941.50

Top Gainers

Symbols Last Close Current Change %Change
NB N47.85 N52.55 4.7 9.82%
PRESCO N49.5 N53 3.5 7.07%
DANGCEM N135.9 N139 3.1 2.28%
STANBIC N39.1 N40.5 1.4 3.58%
FLOURMILL N20.15 N21.5 1.35 6.70%

Top Losers

Symbols Last Close Current Change %Change
NNFM N4.5 N4.05 -0.45 -10.00%
CADBURY N7.4 N7 -0.4 -5.41%
OANDO N2.25 N2.03 -0.22 -9.78%
DANGSUGAR N12.5 N12.3 -0.2 -1.60%
UACN N6.3 N6.1 -0.2 -3.17%

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Insider Dealings: Fidelity, UBA and Cutix Executives Stock Transactions

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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.

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Stock Market Gains as Dangote Cement, Mobil, Others Closed in the Green

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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

Symbols Volume Value
STERLNBANK 71,887,769 N83,405,971.86
GUARANTY 51,731,768 N1,345,500,739.80
ZENITHBANK 44,543,315 N759,119,098.15
FIDELITYBK 37,046,328 N67,021,470.60
FLOURMILL 29,414,759 N588,344,013.10

Top Gainers

Symbols Last Close Current Change %Change
NB N43.5 N47.85 4.35 10.00%
MOBIL N193.1 N195.1 2 1.04%
DANGCEM N134.7 N135.9 1.2 0.89%
WAPCO N13.2 N14.1 0.9 6.82%
GUARANTY N25.5 N26 0.5 1.96%

Top Losers

Symbols Last Close Current Change %Change
ARDOVA N11.4 N10.3 -1.1 -9.65%
UNILEVER N14.4 N13.6 -0.8 -5.56%
REDSTAREX N3.25 N3 -0.25 -7.69%
CAP N17.1 N17 -0.1 -0.58%
DAARCOMM N0.33 N0.3 -0.03 -9.09%

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