In the last hour of trading on the floor of the Nigerian Stock Exchange on Wednesday, shares of Airtel Africa Plc and BUA Cement Plc both jumped to maximum growth possible, closing with 9.99% and 9.09% gains respectively. The maximum gains by the market’s third (Airtel Africa Plc) and fourth (BUA Cement Plc) most capitalized stocks propelled the market to a 2.40% advancement at the end of trading.
While the benchmark Index, the NSE All-Share Index settled at 38,803.74 points, Investor’s wealth was increased by N475.689 billion, with the market capitalization surpassing N20 trillion for the first time in the history of the Nigerian Stock Exchange.
Elsewhere, penny stocks Japaul Gold & Ventures Plc (NSE: JAPAULGOLD) and FTN Cocoa Processors Plc (NSE: FTNCOCOA) continued their impressive run, both gaining by the maximum percentage points allowable in a day’s trading on Wednesday.
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JAPAULGOLD shares has increased by over 100% from N0.24 on November 24, 2020 to N0.44 at the end of trading today, 23rd December 2020, an impressive 83.33% growth.
On the other hand, FTNCOCOA has even achieved better growth, the share price on the company which by its own financial statements is insolvent, has risen from N0.23 on December 1st, 2020, to N0.81 at the end of trading on Wednesday, a mind boggling growth of 252.17% in less than a month.
High cap. stock Airtel Africa Plc (AIRTELAFR) has been on the same rally, it’s share price has moved from N525.00 on November 23, 2020 to N852.80 at the end of trading on Wednesday, a growth of 62.25%.
Activity level
The activity level received a massive boost, as the volume of traded shares increased by 238.56% while the value of traded shares increased by 82.24%. 1.497 billion units of shares worth N18.748 billion was traded in 4,316 deals.
The massive increment in both volume and value was recorded despite a 12.77% decline in the number of deals done on the day.
Access Bank Plc shares was the most traded, with 1.036 billion units exchanging hands. This was followed by 121.160 million units of VERITASKAP and 51.187 million units of FLOURMILL in second and third places respectively.
BUA Cement Plc recorded the most traded shares by value, with 50.658 million shares worth N2.787 billion exchanging hands in just 49 deals. AIRTELAFR recorded the second most traded shares by value with N2.017 billion, and FLOURMILL was third with N1.361 billion.
Performance of Indices
Three of the five indices under our watch advanced, one declined and one closed flat.
- Industrial Goods Index advanced by 3.10% pushed forward by BUACEMENT (+9.09%)
- Consumer Goods Index advanced by 0.40% on the backs of NB (+1.82%) and GUINNESS (+1.56%)
- Banking Index advanced by 0.18%, thanks to UBA (+1.19%) and STERLINGBANK (+0.50%)
- Oil and Gas Index closed at 0.00%
- Insurance Index declined by 0.81% as Investors sold off MANSARD (-3.00%) and LASACO (-3.12%)
Investor Sentiment
Investor Sentiment as measured by market breadth (advance/decline ratio) advanced to 3.4x from 0.7x recorded previously as 24 stocks gained against7 decliners.
The top 5 gainers by percentage are;
- ABCTRANS gained 10.00% to close at N0.33
- JAPAULGOLD gained 10.00% to close at N0.44
- AIRTELAFRI gained 9.99% to close at N851.80
- ETERNA gained 9.98% to close at N4.96
- BOCGAS gained 9.85% to close at N8.70
The top 5 losers by percentage are;
- FCMB lost 3.97% to close at N2.90
- PZ lost 3.64% to close at N5.30
- LASACO lost 3.12% to close at N0.31
- MANSARD lost 3.00% to close at N0.97
- MAYBAKER lost 0.79% to close at N3.75
Outlook
We expect the positive performance to continue tomorrow, the last day of trading before Christmas.
By; Nnamdi M.
