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Stock Market Resumes Bearish Trend on Friday as Seplat, BUA, Others Decline



Nigerian Stock Exchange

NSE Resumes Downward Trend as Seplat, BUA, Others Decline

Seplat led losers on Friday to force the Nigerian Stock Exchange to resume its bearish trend started in June.

The market capitalisation of listed equities declined by N44 billion from N12.787 trillion it closed on Thursday to N12.743 trillion on Friday.

While the NSE All-Share Index declined by 0.34 percent from 24,512.27 basis points to 24,427.73 bps on Friday.

However, activity level was positive as investors traded 174.199 million shares valued at N2.385 billion in 3,723 transactions, against 164.289 million shares valued at N164.289 million in 2,986 transactions on Thursday. See the details below.

Top Trades by Volume

Symbols Volume Value
ZENITHBANK 34,572,651 N537,548,153.05
FBNH 28,129,228 N140,124,045.50
UBA 14,495,062 N87,932,053.55
ACCESS 9,761,665 N60,345,387.15
NB 9,718,219 N301,305,104.80

Top Gainers

Symbols Last Close Current Change %Change
JBERGER N15.5 N17.05 1.55 10.00%
STANBIC N29 N30 1 3.45%
CUSTODIAN N5 N5.5 0.5 10.00%
DANGSUGAR N11.7 N11.9 0.2 1.71%
NAHCO N2.03 N2.2 0.17 8.37%

Top Losers

Symbols Last Close Current Change %Change
SEPLAT N386 N347.4 -38.6 -10.00%
BUACEMENT N40 N39 -1 -2.50%
UNILEVER N12.85 N12.25 -0.6 -4.67%
UBA N6.1 N6 -0.1 -1.64%
WAPCO N11 N10.95 -0.05 -0.45%


CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade experience in the global financial markets.

Stock Market

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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Stock Market

Zimbabwe Government Introduces US Dollar Stock Exchange to Lure Investors



Zimbabwe Introduces US Dollar Based Stock Exchange Market to Lure Foreign Investors

The Government of Zimbabwe has introduced US dollar based Stock Exchange market to lure global investors to the embattled economy.

The new stock exchange known as Victoria Falls Stock Exchange is a subsidiary of the Harare-based Zimbabwe Stock Exchange (ZSE) and will commence trading on Monday, according to the state-run Herald newspaper.

According to the Minister of Finance, Zimbabwe, Mthuli Ncube, The new Exchange based in northwestern Victoria Falls, the country’s premier tourism destination – marked “the foundation stone” for building the town into an “offshore financial hub”.

He said “We saw an opportunity to work with the ZSE in creating a global platform for the trading of stocks in foreign currency, and to do it in a way that promotes foreign investment into Zimbabwe.

The finance minister said the new bourse will cater mainly for mining conglomerates and giant international corporates such as insurance giant Old Mutual.

Zimbabwe continues to struggle with low foreign exchange amid worst economic crisis in more than a decade.

President Emmerson Mnangagwa, who came into power through military coup in 2017, blames the current economic crisis on unnamed “detractors” and Western-imposed sanctions.

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Stock Market

Nigerian Stock Exchange Gains Slightly this Week Despite Unrest



Stock Investors

Stock Market Gained N19 Billion this Week Despite Unrest

The Nigerian Stock Exchange appreciated by N19 billion this week despite the #EndSARS protest that grounded business activities in major cities.

Investors traded a total turnover of 1.505 billion shares worth N19.668 billion in 20,552 deals during the week, against a total of 1.955 billion shares valued at N22.978 billion that exchanged hands last week in 22,844 deals.

In terms of volume traded, the Financial Services industry led the activity chart with 1.196 billion shares valued at N14.950 billion traded in 11,318 deals; thus contributing 79.47 percent and 76.01 percent to the total equity turnover volume and value respectively.

The Conglomerates industry followed with 97.167 million shares worth N269.045 million in 516 deals.

In third place was the Consumer Goods, with a turnover of 77.588 million shares worth N1.928 billion in 3,461 deals.

Trading in the top three equities was Guaranty Trust Bank Plc, Access Bank Plc and United Bank for Africa Plc. The three accounted for 633.527 million shares worth N10.006 billion in 3,887 deals, together they contributed 42.08 percent and 50.87 percent to the total equity turnover volume and value, respectively.

The Nigerian Stock Exchange Market Capitalisation expanded by 0.13 percent or N19 billion during the week from N14.980 trillion last week to N14.999 trillion this week.

The NSE All-Share Index also gained 0.13 percent or 37.61 basis points from 28,659.45 bps it closed last week to 28,697.06 bps this week.

The index year-to-date return rose to 6.91 percent when the quarter-to-date has risen by 6.95 percent.

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