The NSE All-Share Index and Market Capitalization both depreciated by 0.12%.
The Nigerian All-Share Index and Market Capitalization both dropped by 0.12% to close the week at 24,306.36 and N12.680 trillion respectively.
Nigeria’s bourse closed the week with a total turnover of 901.542 million shares worth N13.453 billion in 18,676 deals traded this week by investors on the floor of The Exchange. This is 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 NSE All-Share Index and Market Capitalization both depreciated by 0.12% to close the week at 24,306.36 and N12.680 trillion respectively.
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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 went to 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.
25 equities appreciated in price during the week, higher than 13 equities in the previous week. 33 equities depreciated in price, lower than 59 equities in the previous week, while 105 equities remained unchanged, higher than 91 equities recorded in the previous week.
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RED STAR EXPRESS PLC up 18.52% to close at N3.52.
P Z CUSSONS NIGERIA PLC up 15.38% to close at N4.50.
STERLING BANK PLC. up 13.04% to close at N1.30.
CORNERSTONE INSURANCE PLC up 10.00% to close at N0.55.
ZENITH BANK PLC up 9.51% to close at N16.70.
CHAMS PLC up 9.09% to close at N0.24.
NIGERIAN AVIATION HANDLING COMPANY PLC up 9.00% to close at N2.18.
GUARANTY TRUST BANK PLC. up 7.93% to close at N22.45.
FIDELITY BANK PLC up 7.19% to close at N1.79.
LAW UNION AND ROCK INS. PLC. up 7.00% to close at N1.07.
CUSTODIAN INVESTMENT PLC down 10.91 to close at N4.90.
CONOIL PLC down 10.00 to close at N18.90.
BETA GLASS PLC. down 9.95 to close at N61.55.
MRS OIL NIGERIA PLC. down 9.78 to close at N12.45.
UNILEVER NIGERIA PLC. down 9.78 to close at N12.45.
LIVESTOCK FEEDS PLC. down 9.68 to close at N0.56.
AXAMANSARD INSURANCE PLC down 9.66% to close at N1.59.
BERGER PAINTS PLC down 9.63% to close at N6.10.
ARBICO PLC down 9.52% to close at N1.71.
UACN PROPERTY DEVELOPMENT COMPANY PLC down 9.09% to close at N0.90.
The Nigerian bourse struggled on most reference levels all week, with the exception of most tier-1 banks, that put up a good show in terms of turnover and gains recorded for the week.
However, with daily case surges in COVID-19 caseloads in major cities around Nigeria, and the high volatility ongoing on Nigeria’s black gold (Brent Crude), Nairametrics envisages cautious buying as geopolitical and economic uncertainty strengthens across the spectrum.
Olumide Adesina is a French-born Nigerian.
He is a Certified Investment Trader, with more than 15 years of working expertise in Investment Trading.
Member of the Chartered Financial Analyst Society.
Behavioral Finance, Duke University.
You can follow Olumide on twitter @tokunboadesina or email [email protected]
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FIDSON led 7 Gainers as against 28 Losers topped by CILEASING at the end of today’s session.
Nigerian continued its decline for three consecutive trading sessions. The All Share Index dropped by 0.28% to close at 25,424.91 points as against 0.33% plunge recorded on Tuesday. Its Year-to-Date (YTD) returns currently stands at -5.28%.
Nigerian Stock Exchange capitalization presently stands at N13.264 billion as Investors’ losses stood at N39.23 billion.
Nigerian bourse trading turnover was however impressive as its volume moved up by 11.40% as against a 5.07% drop recorded in the previous trading session. ZENITH BANK, FBNH, and UBA were the most active to boost market turnover.
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OKOMUOIL leads the list of active stocks that recorded an impressive volume spike at the end of today’s trading session as market breadth closed bearish.
FIDSON led 7 Gainers as against 28 Losers topped by CILEASING at the end of today’s session an unimproved performance when compared with the previous outlook.
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FIDSON up 7.28% to close at N3.98
PZ up 6.25% to close at N4.25
CUSTODIAN up 3.13% to close at N4.95
FCMB up 2.73% to close at N2.26
WAPCO up 0.83% to close at N12.15
Nigerian bourse recorded a hat trick of losses this trading week, in spite of the gains recorded in the crude oil market at the latter part of London’s trading session.
Selling pressure at Unilever, Zenith bank Stocks added more bearish sentiments at Wednesday’s trading session.
Nairametrics envisage cautious buying, as profit-taking by investors strengthens.
Apple, which hit a $2 trillion market cap on August 19, lost about $325 billion in that time period.
The six largest tech stocks by market capitalization lost more than $1 trillion over the last 3-day trading sessions
Apple, which hit a $2 trillion market cap on August 19, has lost about $325 billion in that time period. Microsoft plunged by $219 billion in value, Amazon also dropped ?$191 billion, Alphabet fell by $135 billion, and Tesla, lost more than 20% on Tuesday to mark the worst single-day loss in its history, down by $109 billion in the last three days.
Not forgetting Facebook, down by $89 billion.
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Stephen Innes, Chief Global Market Strategist at AxiCorp in a note to Nairametrics gave insights on the high sell-offs recorded in the NASDAQ Index by saying;
“The US dollar strength is likely the major macro disrupting equity markets. Weaker US equities have been helpful to the USD of late, suggesting the greenback still had a safe haven appeal among global investors despite the political tensions rising from U.S congress of late.
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“I think many folks were pinning hopes that the US dollar rally and NASDAQ correction was probably done.? Obviously, that was wrong.
“The slump in the British Pound and crude oil got the US dollar rolling again. These days the stronger US dollar has been acting like a wrecking ball across many assets, leaving a swath of carnage in its wake.
“In Asia, stocks look set to slide after ponderous losses on Wall Street sparked another wave of tech sector declines. Simultaneously, energy stocks tracked a sharp drop in crude prices amid signs of faltering demand.
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“Indeed, we are bearing witness to the most unvirtuous circle of events in some time as everyone seems to be running for cover, but sadly for the weaker Tech longs, most shelters are full after last weeks’ beat down.”
Market breadth closed negative as CAP led 10 Gainers as against 19 Losers topped by ARBICO.
Nigerian bourse continued its second trading session for the week on a bearish note.
The All Share Index gained 0.33% to close at 25,497.32 points as against a 0.09% drop recorded on Monday.
Nigerian Stock Market capitalization presently stands at N13.302 trillion Its Year-to-Date (YTD) returns currently stands at -5.01%. Investors’ losses stood at N42.84 Billion.
Nigerian Stock Exchange trading turnover printed negative as volume dipped by 5.07% as against the 39.24% plunge recorded in the previous session. CUSTODIAN, FBNH, and ZENITHBANK were the most active to boost market turnover.
Market breadth closed negative as CAP led 10 Gainers as against 19 Losers topped by ARBICO at the end of today’s session an unimproved performance when compared with the previous outlook.
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