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    Billionaire businessman Aminu Alhassan Dantata dies at 94

    Billionaire businessman Aminu Alhassan Dantata dies at 94

    Israel and Iran agree on ceasefire – Trump

    Israel and Iran agree on ceasefire – Trump

    Breaking: Iran launches missiles at US bases in the Middle East

    Breaking: Iran launches missiles at US bases in the Middle East

    US military strikes Iran

    US military strikes Iran

    EFCC seeks transfer of Orji Uzor Kalu’s trial to Lagos

    Yahoo boys launder money for ‘politically exposed persons’ – EFCC boss

    Gombe receives N60 billion from FG to establish Agro-Livestock Industrial Zone

    Gombe receives N60 billion from FG to establish Agro-Livestock Industrial Zone

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    The increased prices of driver’s licenses, number plates set to take effect

    Trump congratulates Nigeria for Banning Twitter, says more countries should do same

    Trump bans citizens of 12 countries from entering the U.S, full list

    France launches mandatory online visa appointments for travelers

    France launches mandatory online visa appointments for travelers

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

    Air Sierra Leone commences flight operations to Lagos

    Air Sierra Leone commences flight operations to Lagos

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

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    • Economic Data
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    • Companies
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    Ellah Lakes Plc announces EGM to approve N250 billion capital raise, debt to equity conversion

    Ellah Lakes Plc announces EGM to approve N250 billion capital raise, debt to equity conversion

    AGM suspension: Oando’s shareholder wins court case against SEC

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    Zenith Bank to exit CBN forbearance restriction end of June, confident in dividend payments

    FY 2020: FCMB Group Plc gross earnings, profit, assets see double-digit growth rates

    FCMB Group Plc addresses CBN’s forbearance loans directive, details capital management plans

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    United Capital Group expands into Francophone West Africa

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    NGX suspends trading in the shares of four listed companies

    Banking stocks plunge after CBN suspends banks under regulatory forbearance from paying dividends

    ELECTION: Cutix Plc reschedules Board Meeting

    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

    Again DMO offers N360 billion FGN bond for February

    DMO offers N300 billion FGN bond for auction in May

    NGX Daily Equities Market Report: Market gains for third consecutive days

    CSCS Plc explores listing on the Nigerian Exchange (NGX)

    NGX Daily Equities Market Report: Market gains for third consecutive days

    NGX delists Flour Mills shares, lists additional NB and Jaiz Bank shares

    Bitcoin soars above $21,000 as U.S. dollar sags

    BITCOIN hits $103,000 for the first time

    Bitcoin (BTC) rises above US$90,000 records a new all time high

    Bitcoin (BTC) rises above US$90,000 records a new all time high

    Bitcoin crosses US$60K, approaches All-Time High

    Bitcoin (BTC) rises above US$80,000

    Alhaji Dahiru Mangal sold his 1.96bn Oando Shares for N11.81bn

    NGX RegCo suspends Trading of Oando Plc shares

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    How Donald Trump won the 2024 U.S Presidential Election

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

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    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

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Nigeria daily stock market report: December starts with 0.30% gain, Penny Insurance Stocks endure loses

Tuesday, 1 December 2020, 5:51 pm
in Markets, Stocks/Equities
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Nigeria daily stock market report: December starts with 0.30% gain, Penny Insurance Stocks endure loses
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The month of December opened on a positive note, as the benchmark NSE All-Share Index (NSE ASI) advanced by 105.48 points to close at 35,147.92 points. Investors’ saw their wealth increase by N55.166 billion, with a 0.30% rise in Market Capitalization to settle at N18.364 trillion.

Penny Insurance stocks suffered heavy loses, as sell pressures pushed many of them to the maximum possible lose on a single day’s trading session. All 5 out of the 5 biggest losers by percentage were Insurance stocks.

  • Read also; NSE Migrates Four Companies from ASeM to Growth Board
  • Recipients of International Money Transfer can now receive such inflows in US Dollars – CBN

In the preceding week, the National Insurance Commission (NAICOM) had issued operational licenses to 7 Insurance companies (1 Re-insurance, 2 Takaful, 3 life and 1 general insurance company), many of whom are backed by strong banking groups.

Activity Level

The activity level waned as both the volume and value of traded stocks decreased. While the volume of stock traded decreased by 25.83% to 308.180 million units, the value of stocks traded decreased by 30.53% to N3.402 billion.

ACCESS was the most traded stock by volume, with 43.368 million shares exchanging hands. It was followed by FBNH with 31.934 million shares and MBENEFIT with 24.434 million shares in second and third positions respectively.

GUARANTY, SEPLAT, and ACCESS were the top three most traded stocks by value. N859.153 million worth of GUARANTY stocks were traded, N431.863 million worth of SEPLAT stocks were traded while ACCESS has stocks worth N376.476 million exchanging hands.

Performance of Indices

The performance of the indices under our watch was mixed; 2 advanced, 2 declined and 1 closed flat.

  1. Banking index advanced by 2.27%, with GUARANTY (+5.42%) and ZENITH (+1.67%) pushing the index forward.
  2. Oil & Gas index advanced by 0.19% on the back of marginal gain by SEPLAT (+0.40%)
  3. Industrial Goods Index closed flat
  4. Consumer Goods Index declined by 0.06%, dragged down by GUINNESS (-2.91%)
  5. Insurance Index declined by 1.16%, dragged down by multiple stocks

Investor Sentiment

Investor sentiment as measured by market breadth (advance/decline ratio) strengthened to 0.8x from the 0.6x recorded in the previous session as 16 stocks gained against the 21 that declined.

Top five gainers by percentage are;

  1. CAVERTON gained 9.88% to close at N1.89
  2. CUTIX gained 9.80% to close at N1.68
  3. AIICO gained 9.78% to close at N1.01
  4. CHAMS gained 8.70% to close at N0.25
  5. MCNICHOLS gained 8.51% to close at N0.51

Top five loser by percentage are;

  1. CORNERST lost 10.00% to close at N0.54
  2. CHIPLC lost 9.68% to close at N0.28
  3. PRESTIGE lost 9.09% to close N0.50
  4. LASACO lost 8.82% to close at N0.31
  5. MBENEFIT lost 8.70% to close at N0.21

Corporate actions

  • Eterna Plc released its earning forecast for the first quarter of 2021, the company expects to make a Profit After Taxation of N106.355 million.
  • Tantalizer Plc released its financial statement for the third quarter ended September 30, 2020. Losses for the period was N245.002 million, with revenue dropping by 50%.
  • Royal Exchange Plc and Abbey Mortgage Bank Plc both gave notice of their board meetings.
  • Ecobank Transnational Incorporated released an extension of its audited Q3 2020 financial statements.

Outlook

We expect the mild gains to be punctuated with equally mild loses as the week progresses.

By; Nnamdi M.

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