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    United States scraps visa dropbox service for Nigerian applicants

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    Buhari says Nigeria security and economy improved during his tenure

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    Honeywell Flour Mills Plc reports N14.6 billion profit for FY ended March 2025

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    Dangote Group announces major investment in rice production

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    The Frontier Fund unit holders to get N17 per unit distribution

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    Federal Government declares June 6 and 9 public holidays

    Federal Government declares June 6 and 9 public holidays

    Prosecutors demand six-year prison sentence for Simon Ekpa

    Prosecutors demand six-year prison sentence for Simon Ekpa

    SEC alerts Nigerians of illegal operator Silverkuun Investment Cooperative Society/Silverkuun Limited

    SEC alerts Nigerians of illegal operator Silverkuun Investment Cooperative Society/Silverkuun Limited

    Legal Expert says only Rivers State can collect VAT as at today following Appeal Court’s order to “maintain status quo”

    Wike describes Seyi Makinde as chief architect of PDP problems

    ELECTION: Cutix Plc reschedules Board Meeting

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

    Breaking: President Tinubu dissolves Boards of Parastatals, Agencies, Institutions

    President Bola Tinubu Approves New Heads of Federal Agencies & Commissions

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

    UH Real Estate Investment Trust to distribute N5.05 per unit to unit holders

    Canceling Keystone XL pipeline cost thousands of jobs, billions of dollars – Biden Administration

    Breaking: President Joe Biden diagnosed with “aggressive” cancer

    Mexican Navy Ship crashes into New York Bridge

    Mexican Navy Ship crashes into New York Bridge

    • 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

    • Policies
    • Budgets
    • Economic Data
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
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    Court sanctions transfer of Access Bank Plc Shares to Holding Company

    Access Bank completes the acquisition of National Bank of Kenya

    ELECTION: Cutix Plc reschedules Board Meeting

    CUTIX PLC reports N1.1 billion profit for the FY ended April 2025

    Honeywell Flour Mills Plc reports N14.6 billion profit for FY ended March 2025

    Honeywell Flour Mills Plc reports N14.6 billion profit for FY ended March 2025

    List of Stockbrokers in Nigeria

    Weekly Market Report: NGX market capitalization settles at N70.46 trillion

    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2025, qualification and payment dates

    Dangote Group announces major investment in rice production

    Dangote Group announces major investment in rice production

    Vacancy at Port Harcourt Refinery

    NNPC Ltd Announces Maintenance Shutdown of Port Harcourt Refinery

    Security features of the new naira notes revealed by the CBN

    The Frontier Fund unit holders to get N17 per unit distribution

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

    Skyway Aviation Handling Company Plc announces N0.6 final dividend for 2024 FY

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    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

    NGX RegCo suspends Trading of Oando Plc shares

    NGX RegCo approves Livingtrust Mortgage Bank’s free float compliance plan

    SEC approves Busha and Quidax as crypto exchanges in Nigeria

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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

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    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?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    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

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

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NSE daily report: ASI drops 0.23%, as Insurance Stocks continue to soar (Insurance Index up 5.98%)

Monday, 18 January 2021, 6:58 pm
in Markets, Stocks/Equities
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NSE daily report: ASI drops 0.23%, as Insurance Stocks continue to soar (Insurance Index up 5.98%)
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The Nigerian Stock Exchange equities market began the week on a negative footing, losing by 0.23% to close trading on Monday at 41.082 points, even as Insurance stocks continued to soar. The market capitalization witnessed an erosion of N39.535 billion to settle at N21.490 trillion.

Insurance Stocks continued their unrelenting advancement, to the extent that even the long forgotten Insurance Stocks like African Alliance Insurance Plc (NSE Ticker: AFRINSURE) and Universal Insurance Company Plc (UNIVINSURE) enjoyed maximum gains of 10.00%.

Our highflyers continued to fly even higher, except ARDOVA, which ran out of steam on Thursday, 14th 2020, and have not moved since then. We will be removing the stock from our highflyer list, and replace it with Transnational Corporation of Nigeria Plc (NSE Ticker: TRANSCORP).

  • Read also; Why Biden’s $1.9 trillion stimulus plan could do more harm than good – top Wall Street strategist

TRANSCORP shares drew the biggest buy pressure, as Investors’ flocked to acquire the stock following the news over the weekend that Heirs Holdings in partnership with TRANSCORP will be significantly expanding its oil and gas portfolio. TRANSCORP shares gained 9.18% on Monday, adding N0.09 to close at N1.07.

JAPAULGOLD finally retreated by the end of the day’s trading, after an incredible run that saw it’s share price surge from N0.25 to over N1.42. The stock lost 6.58% to close at N1.42.

MBENEFIT continued rising, gaining 9.52% to close at N0.46, it has now 55.56% in the month, and 110.00% over the past 3 months.

REGALINS and ROYALEX also continued their ascent, gaining 9.09% and 8.82% respectively, to close at N0.36 and N0.37.

13 Insurance stocks recorded maximum gains on the day, buttressing the surge in prices Insurance Stocks are experiencing.

CHAMPION share price did not change, as no-one was willing the sell the stock that has been in high demand since the news of a potential take-over by Heineken.

Activity level

738.524 million units of shares valued at N4.172 billion was exchanged in 7,396 deals. The activity level was mixed, as the volume of shares traded increased by 10.79% while the value of shares traded decreased by 34.76%.

JAPAULGOLD shares was the most traded by volume with 92.361 million units, followed by UNIVINSURE with 51.788 million units and TRANSCORP with 43.145 million units.

ZENITHBANK shares were the most traded by value, with shares valued at N820.122 million exchanging hands in 508 deals.

GUARANTY and ACCESS were the second and third most traded shares by value with shares worth N422.024 million and N302.967 million respectively traded in a combined total of 670 deals.

Performance of Indices

3 of the 5 indices under our watch closed positively, while 2 declined;

  1. Insurance Index advanced by 5.98% as BUY pressures persisted across board.
  2. Oil & Gas Index advanced marginally by 0.02% following an uptick in OANDO (+0.3%)
  3. Banking Index also advanced marginally by +0.01% as GUARANTY (+1.8%) and ETI (+0.08%) countered loses in other banking stocks
  4. Industrial Goods Index declined by 0.43% weighed down by loses in DANGCEM (-1.0%)
  5. Consumer Goods Index declined by 0.62% following loses in FLOURMILL (-5.5%) and INTBREW (-2.2%)

Investor Sentiment

Investor Sentiment as measured by market breadth weakened to 1.7x from the 3.4x recorded previously as 35 stocks advanced against 21 decliners.

Top 5 gainers by percentage are;

  1. AFRINSURE gained 10.00% to close at N0.22
  2. AIICO gained 10.00% to close at N1.32
  3. CADBURY gained 10.00% to close at N10.45
  4. RTBRISCOE gained 10.00% to close at N0.22
  5. TRANSEXPR gained 10.00% to close at N0.88

Top 5 losers by percentage are;

  1. JAPAULGOLD lost 6.58% to close at N1.42
  2. FLOURMILL lost 5.49% to close at N31.00
  3. WEMABANK lost 5.33% to close at N0.71
  4. NEIMETH lost 4.78% to close at N2.00
  5. GLAXOSMITH lost 4.29% to close at N6.70

Outlook

We expect the market performance to swing in the positive direction in the course of the week.

By; Nnamdi M.

Nnamdi Maduakor
Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur

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