DANGOTE CEMENT, ZENITH, LAFARGE AFRICA rally higher, with ASI up 1.09% WoW

It was a short trading week on the Nigerian Stock Exchange as it opened for just three days. The shortness is due to the observance of the public holidays (Thursday 30th and Friday 31st July 2020) declared by the Federal Government of Nigeria to mark the Eid-El-Kabir celebrations.

The NSE All-Share Index and Market Capitalization both appreciated by 1.09% to close the week at 24,693.73 and N12.882 trillion respectively.

A total turnover of 421.984 million shares valued at N5.337 billion in 11,801 deals were traded this week by investors on the floor of the Exchange, a contrast to a total of 1.350 billion shares valued at N14.433 billion that exchanged hands last week in 16,723 deals.

The Financial Services industry (measured by volume) led the activity chart with 249.588 million shares valued at N1.563 billion traded in 5,899 deals; thus contributing 59.15% and 29.29% to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 51.760 million shares worth N1.072 billion in 1,877 deals. In the third place was the Industrial Goods industry, with a turnover of 46.197 million shares worth N833.473 million in 1,489 deals.

Trading in the top three equities namely WAPCO Plc., FBN Holdings Plc. and Mutual Benefit Assurance Plc. (measured by volume) accounted for 110.114 million shares worth N685.942 million in 1,587 deals, contributing 26.09% and 12.85% to the total equity turnover volume and value respectively.

Other indices finished higher, with the exception of NSE ASeM, NSE Consumer Goods and NSE Oil/Gas Indices which depreciated by 0.06%, 0.44%, and 6.51% respectively

Twenty-four (24) equities appreciated in price during the week, lower than twenty-eight (28) equities in the previous week. Twenty-eight (28) equities depreciated in price, higher than twenty-five (25) equities in the previous week, while one hundred and eleven (111) equities remained unchanged, higher than one hundred and ten (110) equities recorded in the previous week.

Top gainers

  • UNITY BANK PLC up 17.31% to close at N0.61
  • MUTUAL BENEFITS ASSURANCE PLC up 15.00% to close at N0.23
  • CORNERSTONE INSURANCE PLC up 10.00% to close at N0.55
  • PRESTIGE ASSURANCE PLC up 8.70% to close at N0.50
  • LAFARGE AFRICA PLC. up 7.31% to close at N11.75
  • NEIMETH INTERNATIONAL PHARMACEUTICALS PLC up 7.14% to close at N1.50
  • OKOMU OIL PALM PLC. up 6.31% to close at N74.95
  • DANGOTE CEMENT PLC up 5.66% to close at N141.80
  • ZENITH BANK PLC up 5.16% to close at N16.30
  • AIICO INSURANCE PLC. up 4.44% to close at N0.94

Top Losers

  • SMART PRODUCTS NIGERIA PLC down 31.03% to close at N0.20
  • NPF MICROFINANCE BANK PLC down 16.90% to close at N1.18
  • JULIUS BERGER NIG. PLC. down 12.02% to close at 15.00
  • SEPLAT PETROLEUM DEVELOPMENT COMPANY PLC down 10.71% to close at N310.20
  • AXAMANSARD INSURANCE PLC down 10.00% to close at N1.44
  • UACN PROPERTY DEVELOPMENT COMPANY PLC down 10.00% to close at N0.81
  • TOTAL NIGERIA PLC. down 9.95% to close at N87.80
  • CAP PLC down 9.76% to close at N17.10
  • ARBICO PLC. down 9.74% to close at N1.39
  • STUDIO PRESS (NIG) PLC.  down 9.55% to close at N1.80

Outlook

The Nigerian bourse ended the week cumulatively on the high, as institutional investors increased their buying pressures on some notable heavyweights like DANGCEM, and ZENITH. Also, Nigeria’s major export (Brent crude) maintaining its strong support levels at $44 helped investors’ morale relatively.

However, Nairametrics envisages cautious buying, upon heightened geopolitical concerns, the resurgence of COVID-19 pandemic, and growing security instability around some of  Nigeria’s economic hubs in the north.

Happy Holidays.



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