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    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

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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 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

    Federal Government declares June 6 and 9 public holidays

    Federal Government declares June 6 and 9 public holidays

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    • 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

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

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    List of Dividends announced in 2025, qualification and payment dates

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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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    CSCS Plc explores listing on the Nigerian Exchange (NGX)

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

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    BITCOIN hits $103,000 for the first time

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

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

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    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

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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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Nigerian Stock Market daily report: DANGCEM and AIRTELAFRI lead as market index rise by 1.25%

Wednesday, 25 November 2020, 10:05 pm
in Markets, Stocks/Equities
0
Nigerian Stock Market daily report: DANGCEM and AIRTELAFRI lead as market index rise by 1.25%
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The Nigerian Stock Exchange benchmark index; NSE All-Share Index (NSE ASI) rose by 1.25% on Wednesday with  bellwether stocks leading the gainers table by value. AIRTELAFRI, DANGCEM, FLOURMILL, JBERGER and DANGSUGAR were the top gainers by value.

Investors’ gained N223.861 billion, and the market capitalization rose to N18.166 trillion.

  • Read also; Axa Mansard Insurance Plc holds EGM, sets to meet NAICOM requirement, issues bonus shares to shareholder
  • Tesla CEO Elon Musk is the 2nd richest person, surpassing Bill Gates, as Tesla surged over 7% on Tuesday

Today was the third trading session on the Nigerian Stock Exchange after the country officially went into recession, and the market has enjoyed gains in two sessions and endured a loss in one, emphasizing the fact that the market may have priced-in the recession before the announcement.

Activity level

The activity level improved as the volume and value of shares traded increased with double digits. 434.92 million shares were traded, an increase of 19.02% from the 365.41 million shares traded on Tuesday, while the value of shares traded increased by 47.35% to N6.913 billion.

TRANSCORP was the most traded stock by volume with 84.496 million shares, followed by ZENITHBANK and ACCESS with 59.220 millions and 29.893 millions respectively.

DANGCEM was the most traded stocks by value with shares worth N2.164 billion exchanging hands, while ZENITHBANK with N1.480 billion and GUARANTY with N768.519 million were the second and third most traded stocks by value.

The most traded stock was STERLNBANK as it saw 870 trades being made on the day, followed by ZENITHBANK with 738 trades and GUARANTY with 438 trades.

Performance of Indices

4 out of the 5 indices under over watch closed in green;

  1. Banking Index: +1.59%
  2. Industrial Goods Index: +1.58%
  3. Insurance Index: +1.38%
  4. Consumer Goods Index: +0.74%
  5. Oil & Gas Index: -0.56%

Investor Sentiment

Investor sentiment as measured by market breadth (advance/decline ratio) rose to 3.4x from the 1.6x recorded previously as 37 stocks gained against the 11 that declined.

Top five gainers by percentage are;

  1. MAYBAKER rose by 10.00% to close at N3.52
  2. UPDCREIT rose by 9.89% to close at N5.00
  3. ETERNA rose by 9.88% to close at N4.56
  4. FLOURMILL rose by 9.84% to close at N27.90
  5. MANSARD rose by 9.83% to close at N2.57

To five losers by percentage are;

  1. TRANSEXPR lost 9.38% to close at N0.87
  2. ABCTRANS lost 8.57% to close at N8.57%
  3. CORNERST lost 7.94% to close at N0.58
  4. UAC-PROP lost 6.82% to close at N0.82
  5. OANDO lost 6.55% to close at N2.71

Corporate disclosures

  • PZ Cussons announced the retirement of its board chairman
  • Valualliance value fund gave notice of annual general meeting
  • Skyway Aviation Handling Company Plc gave notice of board meeting
  • FCMB Group Plc released it third quarter financial statement for 2020

Outlook

We expect market performance in the medium to long term to be driven by government and Central Bank policies to get the economy moving forward again and out of recession.

Opportunities still abound for bargain hunters, and their activities may propel the market forward in the short term.

By; Nnamdi M.

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