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21 Sep

Daily Financial Markets Report for September 21, 2021

Equities market closes on a Negative note… ASI loses 8 Basis Point

The Nigerian Exchange Limited (NGX) closed Negative. The benchmark All Share
Index (ASI) depreciated by 0.08% to close at 38,873.85. Market Capitalization
decreased by 16.97 Billion to close at N20.25 trillion while the Year-to-Date (YtD)
returns settled at –3.47%.
What shaped today’s market direction?
Today’s market direction can be largely attributed to losses recorded in large and
mid-cap stocks in Banking, Industrial and Consumer goods sector. Some of today’s
market losers include: NEIMETH (-7.89%), SOVRENINS (-4.00%), WEMABANK (-
3.80%), ZENITHBANK (-2.34%), NEM (-1.55%), ACCESS (-1.11%), GLAXOSMITH (-
0.83%), GTCO (-0.73%) and FLOURMILL (-0.34%) amongst others.

NASD Market
The NASD market closed Positive after today’s trading activities as the Unlisted
Securities Index (USI) increased by 0.72% to close at 737.34. Consequently, Market
Capitalization closed at 640.88 billion. Market activity measured by aggregate
volume decreased 39.69% while value increased by 11.86%. Investors traded a total
of 2,210,577 units of shares valued at N55.99 million in 36 deals

please find here our Daily Financial Market update for today, September 21, 2021

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20 Sep

Daily Financial Markets Report for September 20, 2021

Equities market closes on a Negative note… ASI loses 10 Basis Point

The Nigerian Exchange Limited (NGX) closed Negative. The benchmark All Share
Index (ASI) depreciated by 0.10% to close at 38,906.42. Market Capitalization
decreased by 19.51 Billion to close at N20.27 trillion while the Year-to-Date (YtD)
returns settled at –3.39%.
What shaped today’s market direction?
Today’s market direction can be largely attributed to losses recorded in large and
mid-cap stocks in Banking, Industrial and Consumer goods sector. Some of today’s
market losers include: SCOA (-9.43%), PZ (-5.98%), WAPIC (-4.00%), SOVRENINS (-
3.85%), UNITYBNK (-3.64%), GTCO (-2.50%), HONYFLOUR (-2.50%), UNILEVER (-
2.22%), FIDELITYBK (-2.06%), JAIZBANK (-1.72%) and ZENITHBANK (-1.26%)
amongst others.

NASD Market
The NASD market closed Negative after today’s trading activities as the Unlisted
Securities Index (USI) decreased by 0.49% to close at 732.10. Consequently, Market
Capitalization closed at 636.32 billion. Market activity measured by aggregate
volume increased 2.03% while value increased by 8.38%. Investors traded a total of
3,665,263 units of shares valued at N50.06 million in 41 deals.

please find here our Daily Financial Market update for today, September 20, 2021

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20 Sep

Weekly Market Review & Stock Recommendations -September 20, 2021

Dear Client/Reader,

Global Economic Roundup

Oil Prices Rise Further On Large Crude Inventory Draw

Crude oil prices went up on bullish news from the U.S. Energy Information Administration, which reported a 6.4-million-barrel draw in crude oil inventories and another draw in fuel inventories. A week earlier, the EIA had estimated a modest 1.3-million-barrel decline in crude oil inventories but a sizable draw in gasoline pushed prices higher, signaling that strong demand has not wavered amid the latest surge in Covid-19 infections. In its latest monthly oil report, the International Energy Agency forecast a 1.6-million-bpd rebound in global oil demand next month as the Delta variant of the coronavirus releases its grip on economies.

Biden Team Weighs China Trade Probe in Bid to Press Beijing

President Joe Biden is fighting his own trade war with China. The White House is weighing a new investigation into Chinese subsidies and their damage to the U.S. economy as a way to pressure Beijing. The news comes after a phone call Thursday between Biden and China President Xi Jinping after months of increasingly frosty relations between the two nations. The US also signed a security agreement with the UK and Australia in what is seen as an effort to counter China. China’s embassy in Washington accused the countries of a “Cold War mentality and ideological prejudice”.

Nigeria’s oil production drops to 1.2m b/d in August — lowest in 2021

Nigeria’s oil production dropped to an average 1.23 million barrels per day in August, representing the lowest figure recorded yet in 2021. According to the report, Nigeria’s crude fell from an average 1.36 million barrels per day in January to 1.23 million b/d in August, representing a 9 percent decline. By implication, the development would affect the nation’s crude exports and foreign earnings. Checks showed that difficulties in some oil terminals caused the decline in Nigeria’s oil output.

Some of our recommended stocks are mentioned below;

FIDELITY BANK PLC:

Fidelity Bank Q2 2021 results showed that interest income declined by 2.89% from N87.62 bn in Q2 2020 to N85.09 bn in the current period. Net interest income increased by 4.09% to N50.30 bn in Q2 2021 from N48.32bn in Q2 2020. Profit before tax increased by 72.43% from N11.96 bn recorded in Q2 2020 to N20.63 bn in the current period. Profit after tax increased by 70.80% from N11.30 bn in Q2 2020 to N19.31 bn in Q2 2021, despite a 100% surge in income tax expense. EPS increased by 71.79% from N0.39 in Q2 2020 to N0.67 in the current period. Fidelity Bank has a BVPS of N9.43, P/BV of 0.26x and P/E ratio of 1.80x.

WAPCO PLC:

Wapco is projected to have a Q3 2021 revenue of N209.12bn from N179.88bn in Q3 2020. Likewise, PAT is estimated to grow by 16.26% from N28.20bn in Q3 2020 to N32.78bn in Q3 2021 taking the EPS up to N2.04. Wapco Plc Q2 2021 results showed that revenue grew by 20.3% from N120bn in Q2’2020 to N145bn in Q2’2021. Profit before tax grew by 27% to N36.75 bn in Q2’2021 from N26.75bn in Q2’2020, on the back of a 40% decline in finance cost. Profit after tax rose by 21.4% from N23.3bn in Q2’2020 to N28.3bn in Q2’2021, despite a 55% surge in taxes. Consequently, EPS increased by 21%, from N1.45 in Q2’2020 to N1.76 in Q2’2021. Wapco has a BVPS of N23.09, P/BV of 0.95x and P/E ratio of 6.25x.

Please find here our Weekly Market Review & Stock Recommendations for this week.

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17 Sep

Daily Financial Markets Report for September 17, 2021

Equities market closes on a Positive note… ASI gains 8 Basis Point

The Nigerian Exchange Limited (NGX) closed Positive. The benchmark All Share
Index (ASI) appreciated by 0.08% to close at 38,943.87. Market Capitalization
increased by 16.60 Billion to close at N20.29 trillion while the Year-to-Date (YtD)
returns settled at –3.29%.
What shaped today’s market direction?
Today’s market direction can be largely attributed to gains recorded in large and
mid-cap stocks in Banking, Industrial and Consumer goods sector. Some of today’s
market gainers include: CHIPLC (8.33%), UCAP (6.59%), SOVRENINS (4.00%), GTCO
(3.51%), HONYFLOUR (2.30%), UACN (2.04%), OANDO (1.76%), NAHCO (1.33%), PZ
(0.86%), FIDELITYBK (0.83%), AFRIPRUD (0.81%), ZENITHBANK (0.63%), STANBIC
(0.26%) and FLOURMILL (0.17%) amongst others.

NASD Market
The NASD market closed Positive after today’s trading activities as the Unlisted
Securities Index (USI) decreased by 0.01% to close at 735.72. Consequently, Market
Capitalization closed at 639.47 billion. Market activity measured by aggregate
volume increased 21.52% while value increased by 33.68%. Investors traded a total
of 3,592,379 units of shares valued at N46.19 million in 35 deals.

please find here our Daily Financial Market update for today, September 17, 2021

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16 Sep

Daily Financial Markets Report for September 16, 2021

Equities market closes on a Negative note… ASI loses 15 Basis Point

The Nigerian Exchange Limited (NGX) closed Negative. The benchmark All Share
Index (ASI) depreciated by 0.15% to close at 38,911.31. Market Capitalization
decreased by 29.71 Billion to close at N20.27 trillion while the Year-to-Date (YtD)
returns settled at –3.38%.
What shaped today’s market direction?
Today’s market direction can be largely attributed to losses recorded in large and
mid-cap stocks in Banking, Industrial and Consumer goods sector. Some of today’s
market losers include: ETERNA (-9.44%), HONYFLOUR (-3.93%), UBN (-3.00%),
WAPCO (-2.22%), OANDO (-1.52%), FBNH (-1.32%), PZ (-0.85%), MAYBAKER (-
0.67%), UBA (-0.65%), DANGSUGAR (-0.58%) and GTCO (-0.55%) amongst others.

NASD Market
The NASD market closed Positive after today’s trading activities as the Unlisted
Securities Index (USI) increased by 0.04% to close at 735.82. Consequently, Market
Capitalization closed at 639.55 billion. Market activity measured by aggregate
volume decreased 24.66% while value decreased by 11.70%. Investors traded a total
of 2,956,213 units of shares valued at N34.56 million in 34 deals.

please find here our Daily Financial Market update for today, September 16, 2021

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