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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

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

    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

    • Nigeria
    • 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

    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

    FY 2020: Zenith Bank Plc rakes in N230.6 billion profit after tax

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

    FY 2020: FCMB Group Plc gross earnings, profit, assets see double-digit growth rates

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

    Dangote Refinery further reduces Diesel and Aviation fuel prices

    Dangote Petroleum Refinery to begin distribution of PMS and Diesel nationwide

    United Capital Plc receives FMDQ approval to increase size of Commercial Paper programme

    United Capital Group expands into Francophone West Africa

    List of Dividends announced in 2024, qualification and payment dates

    Cornerstone Insurance Plc to pay 27 kobo final dividend for 2024 FY

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

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

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    NGX suspends trading in the shares of four listed companies

    Banking stocks plunge after CBN suspends banks under regulatory forbearance from paying dividends

    ELECTION: Cutix Plc reschedules Board Meeting

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

    Again DMO offers N360 billion FGN bond for February

    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

    NGX delists Flour Mills shares, lists additional NB and Jaiz Bank shares

    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

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

    Bitcoin crosses US$60K, approaches All-Time High

    Bitcoin (BTC) rises above US$80,000

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

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    How Donald Trump won the 2024 U.S Presidential Election

    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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    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

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Nigerian Stock Market Review and Stock pick for the week ahead 20th July – 24th July 2020

Sunday, 19 July 2020, 10:48 pm
in Markets, Stocks/Equities
84
Nigerian Stock Market Review and Stock pick for the week ahead 20th July – 24th July 2020
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The subdued activity level on the Nigerian Stock Exchange (NSE) continued in the week ended 17th July, 2020. The benchmark market index; NSE All-Share Index (NSE ASI), declined by -0.08%, shading 18.70 points to close the week at 24,287.66 points.

In the week in review, Investors’ lost N9.757 billion as the market capitalization settled at N12.669 trillion.

A total turnover of 1.016 billion shares worth N7.436 billion in 18,092 deals were traded this week by investors on the floor of the Exchange, in contrast to a total of 901.542 million shares valued at N13.453 billion that exchanged hands last week in 18,676 deals.

The Financial Services industry (measured by volume) led the activity chart with 784.322 million shares valued at N3.305 billion traded in 10,592 deals; thus contributing 77.23% and 44.45% to the total equity turnover by volume and value respectively.

The Oil and Gas industry followed with 61.822 million shares worth N418.191 million traded in 984 deals. The third place was the Consumer Goods industry, with a turnover of 42.999 million shares worth N1.102 billion in 2,848 deals.

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Trading in the top three equities namely Sterling Bank Plc, FCMB Holdings Plc and FBN Holdings Plc. (measured by volume) accounted for 416.989 million shares worth N791.078 million in 2,752 deals, contributing 41.06% and 10.64% of the total equity turnover volume and value respectively.

A chart of the activity level since the beginning of the year, shows the continuation of the downward trend of the volume of shares traded, the value of shares traded, and in recent weeks the no of deals executed.

At the end of trading on Friday, 17th July, the NSE ASI loss increased to -9.52% YTD. Below is the YTD performance of the 5 indices under our watch;

  • NSE Insurance Index: -1.98%
  • NSE Oil and Gas Index: -27.20%
  • NSE Banking Index: -23.75%
  • NSE Consumer Goods Index: -31.55%
  • NSE Industrial Goods Index: +2.27%

All the 5 indices closed the week in negative territory; Insurance Index -1.88%, Oil & Gas Index -1.93%, Banking Index -3.92%, Consumer Goods Index -1.93%, Industrial Goods Index +0.52%.

Twenty-six (26) equities appreciated in price during the week, higher than twenty-five (25) equities in the previous week. Thirty-six (36) equities depreciated in price, higher than thirty-three (33) equities in the previous week, while one hundred and one (101) equities remained unchanged, lower than one hundred and five (105) equities recorded in the previous week.

The top gainers and losers in the week were;

Source: Nigeria Stock Exchange Weekly Market Report

We maintain our cautious outlook on the market, heading into the Half Year earnings season.

Stock Pick for the next week of trading

United Capital Plc on Thursday 16th July, 2020 released its unaudited financial results for the half year period ended 30th June, 2020. The result showed a double digit (16%) growth in Profit after Tax for the period despite the lockdown instituted over the COVID-19 Pandemic.

All the other companies will be holding their board meetings in the week, to review and approve their respective half year financial results, and subsequently release the financial statements for the NSE and the investing public.

Written by;

Nnamdi M.

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