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Stock Market Sustains Bullish Run on the Back of PRESCO, MTN Nigeria



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  • Stock Market Sustains Bullish Run on the Back of PRESCO, MTN Nigeria

The Nigerian Stock Exchange sustained bullish run on Wednesday as PRESCO, MTN Nigeria led gainers’ table.

The NSE All-Share Index expanded by 0.10 percent to 25,407.96 basis points, up from 25,338.43 basis points it closed on Tuesday. While the market capitalisation of listed stocks rose slightly to N13.254 trillion from N13.242 trillion it closed on Tuesday.

A total of 353.329 million shares valued at N7.035 billion were exchanged in 4,659 transactions during the trading hours of Wednesday.

FBNH emerged the most traded stock with investors exchanging a total of 50.290 million shares worth N377.355 million on Wednesday.

This was followed by the Nigerian Breweries with 45.931 million unit shares valued at N2,020,820,081.70. Guaranty, Japauloil and Zenith Bank did 42.397 million, 23.101 million and 21.795 million shares worth N1,060,381,996.85, N5,995,504.95 and N373,019,743.50.

Presco led top gainers with 9.04 percent or N3.75 to close at N45.25 per share. MTN Nigeria rose by 1.29 percent from N116.5 per share to close at N118 during the trading hours of Wednesday.

Stanbic, ETI SKYAVN gained 2.15 percent or 70 kobo, 7.77 percent or 40 kobo and 9.66 percent or 0.2 kobo to settle at N33.2, N5.55 and N2.27 per shares.

On the other hand, Guinness led losers’ chart with 5 percent or N1 decline to close at N19 per share, down from N20 on Tuesday.

UACN followed with 8.33 percent or 70 kobo decline to N7.7 per share. Dangote cement also joined the list of losers with 0.35 percent or 50 kobo to N140.5 from N141 per share it traded on Tuesday.

CIleasing and PZ declined by 9.35 percent or 50 kobo and 9.43 percent or 0.5 kobo to close at N4.85 and N4.8, respectively.

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.

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Nestlé S.A. Up Stake in Nestle Nigeria Plc to 66.3%




Nestlé S.A. Switzerland Increased Stake in Nestle Nigeria Plc to 66.3%

Despite growing economic uncertainties amid a decline in economic productivity, Nestlé S.A, Switzerland, the parent company of Nestlé Nigeria Plc, has continued to up its ownership percentage in Nestle Nigeria.

Nestlé S.A, Switzerland now owned 66.3 percent of the Nigerian subsidiary.

This was after the company purchased additional shares of 229,697 units in Nestle Nigeria to bring the company’s total purchase from August 20 to date to 977,744 units.

Nestlé S.A has now spent a total sum of N1.17 billion to buy shares in three transactions in its Nigerian subsidiary in 22 days.

A break down of the transactions revealed that the purchase consideration for the 229,697 additional units of Nestlé Nigeria shares at an average price of N1,249.65 per unit is put at N287 million.

Experts said Nigerian shareholders were willing to sell because of the ongoing economic hardships being witnessed in the country.

The National Coordinator, PSAN, Boniface Okezie, said, “It is expected for the foreigners to take the holdings since Nigerian shareholders are offering to sell and no domestic investor has the ability to purchase.

“I don’t see it as a mission to take over the company; I believe it is a morale booster to the Nigerian company. The regulators are watching and they will react if they are crossing the threshold.”

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Nigerian Stock Exchange to Benefit From Low Valuations – Experts



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Stock Market to Benefit From Low Valuations – Experts

Investment experts have said the Nigerian Stock Exchange would benefit from low stock valuations despite the present mixed performance following sell pressure in banking stocks.

The experts hinged their analysis on the usual investors’ search for undervalued yields with strong fundamentals.

The NSE market capitalisation expanded by N14 billion last week but the All Share Index declined by 0.08 percent 25,572.57 basis points, highlighting the mixed performance of the Exchange amid growing economic uncertainties.

The analysts at Cordros Capital, in the review of the week performance, said the bourse could see a positive performance in the long run over compelling valuations while advising investors to exercise cautions when buying given current uncertainties.

They stated: “In the absence of a positive catalyst, and given the still uninspiring macro story, we guide investors to trade cautiously in the short term.

“However, we expect the market might benefit over the longer term on compelling valuations and as investors seek alpha-yielding opportunities in the face of negative real returns in the fixed income market.”

Experts at Afrinvest Securities, another Lagos-based investment banking company, said the new week would see investors taking profit, a situation they said could weigh on the Exchange and plunge stock value.

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Stock Market Cap Appreciates by N14 Billion this week as NSE All-Share Index Dips



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Stock Market Gained by N14 Billion this week Amid Economic Uncertainties

The market value of the Nigerian Stock Exchange expanded by N14 billion this week despite weak market sentiment amid growing economic uncertainties.

Investors traded a total turnover of 1.139 billion shares worth N12.692 billion in 17,109 deals during the week, against a total of 1.226 billion shares valued at N10.842 billion that exchanged hands in 19,529 deals in the previous week.

The sectoral performance showed the Financial Services industry led activity chart in terms of volume traded with 870.300 million shares valued at N7.863 billion traded in 9,427 deals, therefore, contributing 76.43 percent and 61.95 percent to the total equity turnover volume and value, respectively.

The Industrial Goods industry followed with 62.689 million shares worth N1.162 billion in 1,557 deals. The third place was the ICT industry, with a turnover of 50.859 million shares worth N2.552 billion in 619 deals.

Trading in the top three equities namely FBN Holdings Plc, Guaranty Trust Bank Plc and Access Bank Plc. (measured by volume) accounted for 353.048 million shares worth N4.018 billion in 3,095 deals, contributing 31.00% and 31.66% to the total equity turnover volume and value respectively.

A break down of the week activities showed investors traded 257,027,926 shares valued at N3,320,061,770 in 3,567 deals on Monday, September 14, 2020. While 245,139,497 shares worth N3,013,027,933 exchanged hands in 3,597 transactions on Tuesday of the same week.

Investors traded 211,816,446 shares valued at N2,417,710,834; 231,201,739 shares worth N2,095,227,478 and 193,495,274 shares valued at N1,845,658,982 in 3,651, 3,360 and 2,934 deals on Wednesday, Thursday and Friday, respectively.

The market capitalisation of listed equities appreciated by 0.10 percent or N14 billion from N13.351 trillion last week to N13.365 trillion this week.

While NSE All-Share Index depreciated by 0.08 percent or 19.38 basis points from 25,591.95bps last week to 25,572.57bps this week.

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