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    Nigeria’s public debt rises by over N2 trillion in 3 months

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    President Biden declare energy emergency with respect to electricity generation

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    “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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    Russian ruble hits 7-Year high, threatening export competitiveness

    Russian ruble hits 7-Year high, threatening export competitiveness

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    Bullish Sentiment Resumes as NGX-ASI records 0.66% in Profit

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    Nestle Nigeria Plc publishes over 16,000 names of shareholders with unclaimed dividend

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    Resolutions approved at PZ Cussons Nigeria Plc’s 72nd AGM

    PZ reports 277% growth in profit for the year ended May 2022

    Board of Directors of Cutix Plc to consider recommendation of dividend

    Cutix Plc Board of Directors recommends 10 kobo dividend per ordinary share

    DMO offers 16.3% rate FGN bond

    Dangote Industries Funding PLC – Series 1 Bond issue opens for subscription

    Chams Plc completes Balance Sheet Restructuring

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    President Putin says that BRICS are developing global reserve currency

    President Putin says that BRICS are developing global reserve currency

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

    OANDO Plc reports N132.57 billion loss after tax in FY 2020

    Dangote Cement and Airtel Africa Plc push Nigerian Stock Market to 0.21% gain

    Airtel Africa Plc announces final dividend currency exchange rates

    Northern Nigeria Flour Mills Plc announces 25 kobo dividend

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    Game of nominal money is over, it is now “our product, our rules” – Russia’s Gazprom

    Game of nominal money is over, it is now “our product, our rules” – Russia’s Gazprom

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    Ariwoola sworn in as acting Chief Justice of Nigeria

    Ariwoola sworn in as acting Chief Justice of Nigeria

    Breaking: CJN Tanko Muhammad resigns

    Breaking: CJN Tanko Muhammad resigns

    We will support Ukraine in all forms “as long as it takes” – G7 Nations

    We will support Ukraine in all forms “as long as it takes” – G7 Nations

    Peaceful resolution of Russia-Ukraine conflict will cause more harm than good – UK Prime Minister

    Peaceful resolution of Russia-Ukraine conflict will cause more harm than good – UK Prime Minister

    Breaking: Facebook, WhatsApp, Instagram back online

    Breaking News: US Supreme Court overturns abortion rights

    Organ harvesting: Peter Obi prays for healing of Ekweremadu’s daughter, calls for justice

    Organ harvesting: Peter Obi prays for healing of Ekweremadu’s daughter, calls for justice

    US Senate passes bipartisan gun control bill, Supreme court expands gun rights

    US Senate passes bipartisan gun control bill, Supreme court expands gun rights

    Just in: INEC agrees to extend voter registration by 60 days

    INEC calls for PVC revalidation

    Ike Ekweremadu and wife arrested in London, charged with child organ-harvesting plot

    Ike Ekweremadu and wife arrested in London, charged with child organ-harvesting plot

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    Russian ruble hits 7-Year high, threatening export competitiveness

    Russian ruble hits 7-Year high, threatening export competitiveness

    Inflation rate falls for 3 consecutive month

    Nigeria’s inflation rate rises to 11-month high

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s public debt rises by over N2 trillion in 3 months

    President Biden declare energy emergency with respect to electricity generation

    President Biden declare energy emergency with respect to electricity generation

    Supply of Russian gas to Poland and Bulgaria halted by Gazprom

    Russia’s Gazprom halts gas deliveries to Finland

    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

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    NSE Completes Demutualisation, SEC and CAC give final approval

    Equity Market Records Gains….. as NGX-ASI increases by 0.50%.

    Board of Directors of Cutix Plc to consider recommendation of dividend

    Cutix Plc Board of Directors recommends 10 kobo dividend per ordinary share

    NSE Completes Demutualisation, SEC and CAC give final approval

    Equity market inches higher as NGX-ASI Increases by 0.56%

    Dangote Cement and Airtel Africa Plc push Nigerian Stock Market to 0.21% gain

    Airtel Africa Plc announces final dividend currency exchange rates

    Russian ruble hits 7-Year high, threatening export competitiveness

    Russian ruble hits 7-Year high, threatening export competitiveness

    Nigeria’s GDP grows 5.01% YoY in real terms in Q2 2021

    Bullish Sentiment Resumes as NGX-ASI records 0.66% in Profit

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    Huge losses in the Industrial Sector drove the NGX-ASI down by 1.97%.

    Nestle Nigeria Plc publishes over 16,000 names of shareholders with unclaimed dividend

    Current Cryptocurrencies are destined to fail long term – Bank of England Governor

    Bitcoin falls below $20,000, Ethereum less than $1,000 as selloff continues

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    Resolutions approved at PZ Cussons Nigeria Plc’s 72nd AGM

    PZ reports 277% growth in profit for the year ended May 2022

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    Cutix Plc Board of Directors recommends 10 kobo dividend per ordinary share

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    Chams Plc announces change in the Board

    President Putin says that BRICS are developing global reserve currency

    President Putin says that BRICS are developing global reserve currency

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

    OANDO Plc reports N132.57 billion loss after tax in FY 2020

    Dangote Cement and Airtel Africa Plc push Nigerian Stock Market to 0.21% gain

    Airtel Africa Plc announces final dividend currency exchange rates

    Northern Nigeria Flour Mills Plc announces 25 kobo dividend

    Northern Nigeria Flour Mills Plc announces 25 kobo dividend

    Game of nominal money is over, it is now “our product, our rules” – Russia’s Gazprom

    Game of nominal money is over, it is now “our product, our rules” – Russia’s Gazprom

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    Study reveals what triggers lung damage during COVID-19

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    Exposure to tobacco smoke in early life is associated with accelerated biological ageing, study finds

    Young athletes with history of concussions may have more changes to their brains

    Young athletes with history of concussions may have more changes to their brains

    Study reveals what triggers lung damage during COVID-19

    Important clue to rare inflammatory disease in children following COVID-19 infection

    New blood test improves prostate cancer screening

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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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