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25 Feb

Daily Financial Market Report for February 24, 2021

Equities market closes Bullish…ASI Gains 14 Basis Point

The Nigerian Stock Exchange (NSE) closed positive as bulls dominated proceedings in the market today. The benchmark All Share Index (ASI) appreciated by 0.14% to close at 40,221.30. Similarly, Market Capitalization increased by N29 billion to close at N21.04 trillion while the Year-to-Date (YtD) returns settled at -0.12%.

Sectors performance was Significantly Bullish

Performance across sectors was significantly bullish as 3 out of the 5 sectors closed in the green zone. Banking, Oil and gas and Industrial indices advanced by 0.77%,  0.79% and 0.22% respectively, on the back of buy interests recorded in the shares of OANDO (10.00%), WAPCO (4.13%), AFRIPRUD (2.52%), ACCESS (1.80%), UBA (1.18%), DANGSUGAR (1.11%), TRANSCORP (1.09%), GUARANTY (0.98%), ZENITH (0.77%) and FBNH (0.68%) among others. However, Insurance and Consumer goods declined on the back of sell pressure recorded in the shares of LASACO (-9.49%), CHIPLC (-8.33%), CORNERST (-7.81%), FLOURMILL (-6.94%), WAPIC (-6.90%), MBENEFIT (-2.50%), MANSARD (-1.77%) and AIICO (1.67%). 

NASD Market

The NASD market closed positive after today’s trading activities as the Unlisted Securities Index (USI) increased by 0.94% to close at 713.91. Consequently, Market Capitalization also closed positive at N512.24 billion. Market activity measured by aggregate volume decreased by 82.45% while value decreased by 46.94%. Investors traded a total of 41,100 units of shares valued at N4.29mn in 4 deals. 

Please find here our Daily Financial Market update for today, February 24th, 2021.

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23 Feb

ZENITH BANK Plc. Posts 10.40% PAT Growth in Q4’2020

The Q4’2020 result of Zenith Plc showed that Interest income advanced by 1.26% from N415.56 bn in Q4’2019 to N420.81 bn in the current period. Net interest income increased by 12.23% to N299.68 bn in Q4’2020 from N267.03 bn in Q4’2019. The increase in net interest income was driven by a 18.45% decline in interest expense. Likewise, profit before tax advanced by 5.17% from N243.29 bn recorded in Q4’2019 to N255.86 bn in the current period. The growth in profit was driven by a 256.89% and 3.29% increase in other operating income and trading income, respectively, but subdued by a 64.51% hike in impairment charge and a 20.75% fall in net fees and commission income. Profit after tax grew by 10.40% from N208.84 bn in Q4’2019 to N230.57 bn in Q4’2020, due to a 26.57% decline in income tax expense. Consequently, earnings per share went up by 10.38% from N6.65 in Q4’2019 to N7.34 in Q4’2020. Zenith currently trades at N26.00.

Please find here the Zenith Q4 2020 Earnings Flash snapshot

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23 Feb

GDP FLASH: A Welcomed Exit from Recession as Q4′ 2020 GDP grows by 0.11%

Nigeria’s Gross Domestic Product (GDP) grew by 0.11%(year-on-year) in real terms in the fourth quarter of 2020, representing the first positive quarterly growth in the last three quarters. Though weak, the positive growth reflects the gradual return of economic activities following the easing of restricted movements and limited local and international commercial activities in the preceding quarters.In the fourth quarter of 2020, an average daily oil production of 1.56 million barrels per day (mbpd) was recorded. This was lower than the daily average production of 2.00mbpd recorded in the same quarter of 2019 by -0.44mbpd and the third quarter of 2020 by –0.11mbpd. The non-oil sector grew by 1.69% in real terms in Q4 2020, slower than the 2.26% recorded in the corresponding quarter of 2019, but better than the –2.51% growth rate recorded in the preceding quarter. For the full year of 2020 however, the non-oil sector grew –1.25% compared to 2.06% in 2019. Growth in the sector was driven by Information and Communication (Telecommunications & Broadcasting). Other driver were Agriculture (Crop Production), Real Estate, Manufacturing (Food, Beverage & Tobacco), Mining and Quarrying (Quarrying and other Minerals), and Construction, accounting for positive GDP.
Please find here the GDP Q4 2020 report.

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23 Feb

Daily Financial Market Report for February 23, 2021

Equities market closes flat…ASI Gains 3 Basis Point

The Nigerian Stock Exchange (NSE) closed flat as bulls dominated proceedings in the market today. The benchmark All Share Index (ASI) appreciated marginally by 0.03% to close at 40,164.86. Similarly, Market Capitalization increased by N5 billion to close at N21.01 trillion while the Year-to-Date (YtD) returns settled at -0.26%.

Sectors performance was Broadly Bearish

Performance across sectors was broadly bearish as 2 out of the 5 sectors closed in the red zone. Insurance and Consumer goods indices declined by 0.92% and 1.61% respectively, on the back of sell pressure recorded in the shares of AFRIPRUD (-9.87%), MAYBAKER (-8.79%), NB (-8.47%), MBENEFIT (-4.76%), TRANSCORP (-4.26%), FIDELITY (-3.75%), DANGSUGAR (-2.70%), MANSARD (-1.71%), PZ (-0.93%) and ACCESS (-0.60%) among others. However, Banking advanced on the back of buy interests recorded in the shares of ZENITH (4.03%), UNITY (1.52%), UBA (1.19%) and GUARANTY (0.16%). Industrial and Oil and gas sectors remained unchanged.

NASD Market

The NASD market closed negative after today’s trading activities as the Unlisted Securities Index (USI) decreased by 0.94% to close at 710.72. Consequently, Market Capitalization also closed negative at N509.95 billion. Market activity measured by aggregate volume decreased by 92.28% while value decreased by 37.99%. Investors traded a total of 85,800 units of shares valued at N18.26 mn in 11 deals.

Please find here our Daily Financial Market update for today, February 23rd, 2021.

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23 Feb

Daily Financial Market Report for February 22, 2021

Equities market resumes new trading week on a Negative Note…ASI Loses 8 Basis Point

The Nigerian Stock Exchange (NSE) closed negative as bears dominated proceedings in the market today. The benchmark All Share Index (ASI) depreciated by 0.08% to close at 40,154.09. Similarly, Market Capitalization decreased by N17 billion to close at N21.01 trillion while the Year-to-Date (YtD) returns settled at -0.29%.

Sectors performance was Broadly Bearish

Performance across sectors was broadly bearish as 3 out of the 5 sectors closed in the red zone. Insurance, Consumer goods and Industrial indices declined by 0.13%, 0.08% and 0.55% respectively, on the back of sell pressure recorded in the shares of AFRIPRUD (-9.59%), WAPCO (-8.00%), LIVESTOCK (-6.25%), UCAP (-5.51%), MAYBAKER (-5.01%), FIDELITY (-3.23%), UNILEVER (-2.51%), STERLING (-1.67%), UACN (-0.62%) and ACCESS (-0.60%) among others. However, Banking and Oil and gas advanced on the back of buy interests recorded in the shares of STANBIC (3.36%), FCMB (2.58%), JAIZ (1.54%), WEMA (1.49%), UBA (1.20%), OANDO (0.98%), ZENITH (0.40%) and GUARANTY (0.33%).

NASD Market

The NASD market closed negative after today’s trading activities as the Unlisted Securities Index (USI) decreased by 0.93% to close at 717.43. Consequently, Market Capitalization also closed negative at N514.76 billion. Market activity measured by aggregate volume increased by 67.58% while value increased by 15.64%. Investors traded a total of 1,110,750 units of shares valued at N29.44 mn in 10 deals. 

Please find here our Daily Financial Market update for today, February 22nd, 2021.

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18 Feb

Daily Financial Market Report for February 18, 2021

Equities market continues Trading week on a Negative Note…ASI Loses 63 Basis Point

The Nigerian Stock Exchange (NSE) closed negative as bears dominated proceedings in the market today. The benchmark All Share Index (ASI) depreciated by 0.63% to close at 40,212.19. Similarly, Market Capitalization decreased by N132 billion to close at N21.04 trillion while the Year-to-Date (YtD) returns settled at -0.15%.

Sectors performance was Broadly Bearish

Performance across sectors was significantly bearish as all 5 sectors closed in the red zone. Insurance, Banking, Consumer goods, Oil and gas and Industrial indices declined by 1.54%, 2.60%, 0.51%, 0.20 and 0.13% respectively, on the back of sell pressure recorded in the shares of FCMB (-5.00%), UBA (-4.76%), FLOURMILL (-4.67%), ZENITH (-4.00%), DANGSUGAR (-3.41%), TRANSCORP (-3.19%), ACCESS (-2.41%), GUARANTY (-1.94%), MTNN (-0.94%) and UCAP (-0.50%) among others. 

NASD Market

The NASD market closed negative after today’s trading activities as the Unlisted Securities Index (USI) decreased by 0.40% to close at 724.17. Consequently, Market Capitalization also closed negative at N519.61 billion. Market activity measured by aggregate volume increased by 2,368.59% while value increased by 909.78%. Investors traded a total of 662,817 units of shares valued at N34.90 mn in 19 deals. 

Please find here our Daily Financial Market update for today, February 18th, 2021.

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