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    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

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    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

    Federal Government declares June 6 and 9 public holidays

    Federal Government declares June 6 and 9 public holidays

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    • All
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    • Economic Data
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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

    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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    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2025, qualification and payment dates

    Sovereign Trust Insurance Plc grows Profit after tax by 43%  in Q1 2021

    Sovereign Trust Insurance Plc appoints Abimbola Oguntunde as New Board Chairman

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

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    Renaissance Capital names banks affected by CBN’s dividend payout suspension

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    Dangote Petroleum Refinery to begin distribution of PMS and Diesel nationwide

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    United Capital Group expands into Francophone West Africa

    List of Dividends announced in 2024, qualification and payment dates

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    Legend Internet Plc reports N32.9 million profit for Q1 2025

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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

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

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    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

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

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    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

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Nigerian Stock Market Review and Stock pick for the week ahead 13th July – 18th July 2020

Sunday, 12 July 2020, 9:41 pm
in Markets, Stocks/Equities
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Nigerian Stock Market Review and Stock pick for the week ahead 13th July – 18th July 2020
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It was relatively quiet on the Nigerian Stock Exchange in last weeks’ trading sessions, as the market index shed only 0.12% to close at 24,306.36 on Friday 10th July 2020. Investors lost N15.522 billion, with the market capitalization settling at N12.679 trillion.

A total turnover of 901.542 million shares worth N13.453 billion in 18,676 deals were traded this week by investors on the floor of the Exchange, in contrast to a total of 961.833 million shares valued at N9.181 billion that exchanged hands last week in 20,058 deals.

The Financial Services industry (measured by volume) led the activity chart with 629.368 million shares valued at N5.186 billion traded in 9,887 deals; thus contributing 69.81% and 38.55% to the total equity turnover volume and value respectively. The ICT industry followed with 59.506 million shares worth N5.161 billion in 684 deals. The third place was the Consumer Goods industry, with a turnover of 57.136 million shares worth N1.385 billion in 2,993 deals.

Trading in the top three equities namely Guaranty Trust Bank Plc, Fidelity Bank Plc and Zenith Bank Plc. (measured by volume) accounted for 293.678 million shares worth N4.042 billion in 4,334 deals, contributing 32.58% and 30.05% to the total equity turnover volume and value respectively.

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The downward trend in the activity level continued ahead of the earnings season. In the week, although the value of stocks traded appreciated by 46.53% owing to heavy trading in high cap. stocks, the volume of stocks traded in the week depreciated by 6.26%.

At the end of trading on Friday, the NSE ASI losses increased to -9.45% YTD. Below is the YTD performance of the 5 indices under our watch;

  • NSE Insurance Index: -0.10%
  • NSE Oil & Gas Index: -25.77%
  • NSE Banking Index: -20.64%
  • NSE Consumer Goods Index: -30.21%
  • NSE Industrial Good Index: +1.74%

There was a mixed performance of the 5 indices during the week in review; Insurance Index -0.73%, Oil & Gas Index -0.67%, Banking Index +5.85%, Consumer Goods Index -3.96% and Industrial Goods Index -2.13%.

Twenty-five (25) equities appreciated in price during the week, higher than thirteen (13) equities in the previous week. Thirty-three (33) equities depreciated in price, lower than fifty-nine (59) equities in the previous week, while one hundred and five (105) equities remained unchanged, higher than ninety-one (91) equities recorded in the previous week.

The top gainers and lowers were;

Source: Nigerian Stock Exchange Weekly Market Report

We remain cautious about the market, as we head into the earnings season, and expect the subdued activity level to continue in the week ahead.

Stock Pick for the next week of trading

CONOIL: Conoil Plc declared a dividend of N2.00 for the financial year ended 31st December 2019, with a qualification date on Monday 13th 2020. This is a consistent dividend stock, and although the combined effect of the COVID-19 lock down and the slump in oil prices will take a toll on the company, we expect them to recover from these set-backs and continue to return value to shareholders.

BERGER: A relatively unknown paint manufacturer on the market, consistent dividend payment history, strong fundamentals, a BUY within the fair value range is recommended.

UPL: A consistent dividend stock, and a steady performer. The company’s unaudited financial report show a growth in PAT over that of the last financial year, our best bet is that the company will pay nothing less than 15 kobo dividend to shareholders, which will return a dividend yield of 14.85% at current market price. A BUY within the fair value range is therefore recommended.

CILEASING and ETI: Both companies have very high Book Values, and hence will return a high valuation, however CILEASING have a very poor dividend when compared to its share price, while ETI have not been paying any dividend at all. We do could not form an opinion of these two stocks.

Written by;

Nnamdi M.

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