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    FCT Minister orders closure of Dei-Dei Market

    FCT Minister orders closure of Dei-Dei Market

    MTN Nigeria Communications Plc announces Board Meeting and close period for Q1 2021

    MTN Nigeria’s MoMo PSB Limited commences operation

    COVID-19: FG issues revised protocol for international travel into Nigeria

    Lagos airport international wing shut temporarily

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    N80bn fraud: Nigerian government suspends Accountant-General

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    Italy’s Eni starts process to open rubble account with Russia’s Gazprom

    Banks begin to charge taxes on bonds, T-bills as exemption expires

    Banks begin to charge taxes on bonds, T-bills as exemption expires

    Secession: Presidency slams Northern Elders Forum, NEF says allegations untrue

    Secession: Presidency slams Northern Elders Forum, NEF says allegations untrue

    Access Holdings Plc dissociates itself from Access Capital Daily Investment and others

    Access Holdings Plc dissociates itself from Access Capital Daily Investment and others

    We will join NATO but host no NATO bases says Sweden, We will only respond to NATO infrastructure threat says Russia

    We will join NATO but host no NATO bases says Sweden, We will only respond to NATO infrastructure threat says Russia

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    Nigeria’s Inflation rate hits16.47%, the highest since May 2017

    Inflation rate rises in April 2022 compared to March 2022 – NBS report

    “Unfriendly” countries will have to pay for Russian gas in rubles – Putin

    10 EU countries quietly buying Russian gas with rubles

    The United Kingdom to approve first new coal mine in 30 years

    The United Kingdom to approve first new coal mine in 30 years

    US Treasury Secretary warns about a complete European ban on Russian gas

    US Treasury Secretary warns about a complete European ban on Russian gas

    Israel to add Chinese yuan, Canadian and Australian dollars to its reserves

    Israel to add Chinese yuan, Canadian and Australian dollars to its reserves

    Ukraine has officially banned all Trades with Russia

    Ukraine has officially banned all Trades with Russia

    Total VAT generated rises by 53% Year-on-Year

    VAT collection rises 12.65% quarter-on-quarter in Q4 2021

    Five African central banks set to hike rates to rein in inflation

    Five African central banks set to hike rates to rein in inflation

    Nigeria’s Inflation rate in April at 18.12%, lower than 18.17% recorded in March

    Nigerian Inflation rises to 15.63%, after months of steady decline

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    List of Dividends announced in 2021, qualification and payment dates

    Presco Plc announces N6.6 final dividend for 2021 FY, shareholders set to dump shares

    Access Holdings Plc dissociates itself from Access Capital Daily Investment and others

    Access Holdings Plc dissociates itself from Access Capital Daily Investment and others

    List of Dividends announced in 2021, qualification and payment dates

    Mcnichols Plc announces 3k final dividend and 6 to 5 share bonus

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    Caverton Offshore aircraft reported “missing” in Cameroon with 11 people on board

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    Cryptocurrencies continue to crash as Terra loses over 98%

    DMO offers 16.3% rate FGN bond

    DMO offers 2-year and 3-year FGN Savings Bond for subscription

    “Unfriendly” countries will have to pay for Russian gas in rubles – Putin

    10 EU countries quietly buying Russian gas with rubles

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    Nigerian Stock Exchange Group’s Investment in subsidiaries

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    Nigerian Exchange Group Plc reports N148.3 million profit for Q1 2022

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    Seplat’s IJV ANOH Gas Processing Company raises $260m to complete ANOH project

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    All diaspora remittances must be received by beneficiaries in foreign currency only – CBN

    Airtel Africa’s SmartCash PSB commences operation

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    Access Holdings Plc dissociates itself from Access Capital Daily Investment and others

    Seplat’s IJV ANOH Gas Processing Company raises $260m to complete ANOH project

    Seplat Energy Plc confirms the retirement of Dr. A.B.C Orjiako from its board

    Caverton Offshore aircraft reported “missing” in Cameroon with 11 people on board

    Caverton Offshore aircraft reported “missing” in Cameroon with 11 people on board

    FG lists 4 border points in Ukraine Nigerians can cross to safety

    Presco Plc announces delay in filing 2021 FY and Q1 2022 financial statements

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    Wema Bank Plc issues notice of AGM, share capital reconstruction among agenda

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Nigerian Stock Market Review and Stock pick for the week ahead 10th Aug. – 14th Aug. 2020

Sunday, 9 August 2020, 10:18 pm
in Markets, Stocks/Equities
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Nigerian Stock Market Review and Stock pick for the week ahead 10th Aug. – 14th Aug. 2020
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A week of gains on the Nigerian Stock Exchange got Investors smiling as they saw N181.622 billion added to the Market Capitalization. Every single day of trading closed in positive.

A total turnover of 1.065 billion shares, worth N10.798 billion in 20,482 deals were traded in the preceding week by investors on the floor of the Exchange, in contrast to a total of 421.984 million shares valued at N5.337 billion that exchanged hands last week in 11,801 deals.

The Financial Services industry (measured by volume) led the activity chart with 677.301 million shares valued at N5.070 billion traded in 10,386 deals; thus contributing 63.59% and 46.95% to the total equity turnover volume and value respectively.

The Conglomerates industry followed with 153.384 million shares worth N580.216 million in 894 deals. The third place was the Industrial Goods industry, with a turnover of 57.404 million shares worth N861.263 million in 1,671 deals.

  • Read also; CBN devalues the Official Rate of Naira for the second time in 2020
  • Core Investor Blakeney sells over 90% stake in UAC of Nigeria Plc
  • New shipyard to be built in Bayelsa’s Brass Island

Trading in the top three equities namely FBN Holdings Plc, UACN Plc and Access Bank Plc. (measured by volume) accounted for 320.196 million shares worth N1.802 billion in 2,639 deals, contributing 30.06% and 16.69% to the total equity turnover volume and value respectively.

A chart of the activity vs the All Share Index shows that while the Index has started ticking up in recent weeks, the activity level remained subdued with volumes and value of shares traded remain low.

At the end of trading on Friday, 7th August, the NSE ASI loss moderated to -6.71% YTD. Below is the YTD performance of the 5 indices under our watch;

  • NSE Insurance Index: -3.04%
  • NSE Oil and Gas Index: -32.00%
  • NSE Banking Index: -18.07%
  • NSE Consumer Goods Index: -31.63%
  • NSE Industrial Goods Index: +6.72%

4 of the 5 indices closed the week in positive, while only one closed in negative; Insurance Index -0.28%, Oil & Gas Index +4.81%, Banking Index +4.94%, Consumer Goods Index +0.72%, Industrial Goods Index +0.10%.

Forty-one (41) equities appreciated in price during the week, higher than twenty-four (24) equities in the previous week. Eighteen (18) equities depreciated in price, lower than twenty-eight (28) equities in the previous week, while one hundred and four (104) equities remained unchanged, lower than one hundred and eleven (111) equities recorded in the previous week.

Source: Nigerian Stock Exchange Weekly Market Report

Heading into the new week, we keep a cautious outlook on the market. Investors will be better served buying into fundamentally strong stocks currently trading at bargain prices.

Stock Pick for the next week of trading

ACCESS, GUARANTY, ZENITH and UBA are yet to release the financial statements for the half year period ended 30 June 2020, all four banks have indicated that they will be paying interim dividends to shareholders in line with their tradition.

CUSTODIAN and UACN announced that CUSTODIAN will be buying UACN’s stake in UACN Properties Development Co. Limited (UPDC), thus making both stocks to be of interest to us.

TOTAL and CAVERTON are at very low prices as the crisis in the oil industry has affected both their performances in the half year period, and as the oil prices pick up and the general market conditions improve, the stocks are likely to return to pre-crisis price levels.

Written by;

Nnamdi M.

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