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    FX Restrictions: Nigerian banks resume international transactions on naira cards

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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

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

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    US military strikes Iran

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

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

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    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

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    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

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

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    Stanbic IBTC Holdings Plc announces N1.50 interim dividend for half-year 2023

    Jaiz Bank announces final dividend

    Over 5 billion additional ordinary shares of Jaiz Bank Plc listed on NGX

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    ELECTION: Cutix Plc reschedules Board Meeting

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

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    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

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

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    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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Nigeria Stock Market surges 7.19% this week, as Oil Price crisis continue

Investors gain NGN801.30bn, as FG see Oil price go below budget benchmark

Saturday, 18 April 2020, 1:35 pm
in Stocks/Equities
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Nigeria Stock Market surges 7.19% this week, as Oil Price crisis continue
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It was a four day trading week as the Federal Government of Nigeria declared Monday 13th April (Easter Monday) as public holiday in commemoration of the Easter celebrations, a gain of NGN801.30bn was just the perfect gift Investors on the Nigeria Stock Market needed, having endured steep loses in preceding weeks.

Activity level waned in the week, as volume of shares traded declined from 2.440 billion last week to 1.495 billion this week, while the value of shares traded increased from NGN19.93 billion to NGN12.89 billion, in 20,982 deals against 18,918 deals last week. As usual, the Financial Services industry (measured by volume) led the activity chart with 1.238 billion shares valued at NGN8.424 billion traded in 12,835 deals; thus contributing 82.82% and 65.33% to the total equity turnover volume and value respectively.

Investor Sentiment which is a ratio of gainers over losers remained strong at 1.8, as 37 equities appreciated in price during the week against 35 equities in the previous week, while 21 equities depreciated in price against 18 in the previous week.

 

Equity Turnover for the week ended 17th April 2020

Date Volume of Shares Traded Value of Shares Traded (NGN) No of Deals No of Stocks Traded No of Gainers No of Losers
14.04.2020 557,819,628 2,617,362,536 5,310 91 29 12
15.04.2020 326,444,379 3,338,708,297 5,166 89 28 11
16.04.2020 379,110,193 4,327,067,090 5,985 91 18 20
17.04.2020 231,605,076 2,610,412,469 4,521 87 19 9

In the week in review, the Nigerian Stock Exchange All-Share Index and Market Capitalization both appreciated by 7.19% to close the week at 22,921.59 points and NGN11.946 trillion respectively. All the major Indices we monitor closed positively.

 

Index Movement

Week close 09.04.2020 Week close 17.04.2020 WTD Change% MTD Change % QTD Change % YTD Change%
The NSE All-Share Index 21,384.03 22,921.59 7.19 7.61 7.61 -14.61
NSE Banking Index 263.53 275.99 4.73 17.01 17.01 -22.66
NSE Insurance Index 117.98 118.96 0.83 -0.37 -0.37 -5.45
NSE Consumer Goods Index 334.59 386.68 15.57 18.80 18.80 -34.78
NSE Industrial Goods Index 960.57 1,010.17 5.16 -2.90 -2.90 -6.08

 

The top three price gainers in the week are Nigerian Breweries Plc, Conoil Plc, and Champion Breweries Plc, with gains of 45.74%, 32.32 % and 20.00% respectively. The top three price decliners were Nigerian Aviation Handling Company Plc, Ardova Plc, and Arbico Plc, with loses of 11.25%, 10.22%, and 9.82% respectively.

 

Views of analysts @investogist

The market valuations of several fundamentally sound stocks on the stock exchange has been at very attractive prices since last month, and therefore present attractive entry positions for investors; both long term Investors and bargain hunting speculators. That notwithstanding, We maintain our negative outlook for the market given the prevailing problems of the Covid-19 Pandemic and the low oil prices despite the record production cuts seen at the beginning of the week. Prudent evaluation of individual stocks is advised, to ensure that the company being invested in has the capacity to weather the recession predicted in many quarters, while maintaining it’s profitability and return value as well as dividend to it’s shareholders.

 

Written by:

Basil Maduakor

Analyst/Writer @Investogist

Disclaimer: Any person accessing this information and considering potential investment opportunities featured here should make their own commercial assessment of an investment opportunity after seeking the advice of an appropriately authorized or regulated financial advisor. This information should not be construed as advice or a personal recommendation to any prospective investor.

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