All Research

Daily Financial Market Report for September 04, 2020

Dear Client/Reader,

Equity Market Closes Week Bullish…ASI Gains 37 Basis Points

The Nigerian Stock Exchange (NSE) sustained its uptrend as bulls dominated proceedings in the market today. The benchmark All Share Index (ASI) appreciated by 0.37% to close at 25,605.64. Market Capitalization gained N49.36 billion to close at N13.36 trillion while the Year-to-Date (YtD) returns settled at -4.61%.

Sectors performance significantly bullish

Performance across sectors was significantly bullish as all sectors closed in the green zone. Insurance, Oil and Gas and Banking indices advanced by 2.37%, 1.83% and 1.60% respectively, on the back of buy interest recorded in the shares of Lawunion (9.71%) and Mansard (9.58%); Seplat (3.90%); Guaranty (3.31%) and Zenithbank (1.16%). Similarly, Consumer Goods and Industrial indices advanced by 0.06% and 0.01% respectively, on the back of bargain hunting recorded in the shares of Guinness (3.21%); Vitafoam (3.29%).

Market synopsis for the week

The stock market closed positive this week. The nation’s bourse had bullish performance as it closed positive in all five trading sessions. The market recorded gains all trading days of the week (0.07%, 0.34%, 0.18%, 0.20% and 0.37% respectively), due to buy interest in large and mid-cap stocks across Insurance, Oil and Gas and Banking sectors. Overall, ASI advanced by 1.17% week-on-week, while the year-to-date returns settled at -4.61%.

Please find attached our Daily Financial Market update for today, September 04, 2020.

Thank you.

Click here for the daily financial market report.

Read more...

Daily Financial Market Report for September 03, 2020

Dear Client/Reader,

Equity Market Extends Gains…ASI Inches Up By 20 Basis Points

The Nigerian Stock Exchange (NSE) sustained its uptrend as bulls dominated proceedings in the market today. The benchmark All Share Index (ASI) appreciated by 0.20% to close at 25,511.02. Market Capitalization gained N26.62 billion to close at N13.31 trillion while the Year-to-Date (YtD) returns settled at -4.96%.

Sectors performance broadly bullish

Performance across sectors was broadly bullish as three sectors closed in the green zone. Insurance, Banking and Consumer Goods indices advanced by 0.50%, 0.46% and 0.02% respectively, on the back of buy interest recorded in the shares of Linkassure (7.69%) and Wapic (6.06%); Zenithbank (1.47%) and UBA (0.78%). However, Oil and Gas and Industrial indices closed flat.

NASD Market

The NASD market closed bullish after today’s trading activities as the Unlisted Securities Index (USI) advanced by 67 basis points to close at 714.21. Consequently, Market Capitalization also increased by 0.67% to close at N524.64 billion. Market activity measured by aggregate volume increased by 626.77% while value advanced by 5.63%. Investors traded a total of 11,890 units of shares valued at N518,447.50 in 3 deals. Two securities traded on the NASD platform today and they are: CSCS Plc and WAMCO Plc.

Please find attached our Daily Financial Market update for today, September 03, 2020.

Thank you.

Click here for the daily financial market report.

Read more...

GTB Plc. HY’2020- Profit after tax dips by 4.90% to N94.27 billion

Dear Client/Reader,

Stanbic Plc HY’2020 showed an increase in bottom-line result as profit for the period grew by 24.72%. Interest income declined by 9.30% from N60.78 bn in HY’2019 to N55.13 bn in the current period. Net interest income went down by 4.48% from N39.31 bn in HY’2019 to N37.55 bn in HY’2020. Profit before tax advanced by 17.37% from N44.65 bn in HY’2019 to N52.41 bn in the current period. The increase in profit before tax is attributable to a 94.63% increase in trading income, and supported by declines in key expenditure line items, such as; the fees and commission expense and operating expense, which both went down by 5.41% and 3.06%, respectively. Profit after tax went up by 24.72% from N36.25 bn in HY’2019 to N45.20 bn in the current period, due to a 14.31% decline in income tax expense. Consequently, Stanbic recorded a 22.51% increase in earnings per share from N3.42 in HY’2019 to N4.19 in HY’2020. The company proposed an interim dividend of N0.40. Stanbic currently trades at N37.50.

Please find attached GTB Plc HY-2020 result analysis.  

Regards,

Click here for the full result analysis.

Read more...

UBA Plc. Posts 21.69% PAT Decline in HY’2020

Dear Client/Reader, 

The HY’2020 result of UBA Plc showed that Interest income advanced by 0.34% from N204.89 bn in HY’2019 to N205.59 bn in the current period. Net interest income increased by 8.36% to N119.32 bn in HY’2020 from N110.12 bn in HY’2019. The increase in net interest income was driven by the rise in interest income and an 8.97% drop in the interest expense. In a similar tune, operating income increased by 7.70% from N182.64 bn in HY’2019 to N196.71 bn in the current period, on the back of a 6.73% and 7.52% increase in fees and commission income and net trading and foreign exchange income, respectively. However, profit before tax declined by 18.71% from N70.27 bn recorded in HY’2019 to N57.13 bn in the current period. The decline in profit was due to a 150.22% and 20.57% increase in net impairment loss and operating expenses, respectively. Likewise, profit after tax declined by 21.69% from N56.74 bn in HY’2019 to N44.43 bn in HY’2020. Consequently, earnings per share went down by 23.46% from N1.62 in HY’2019 to N1.24 in HY’2020. The company proposed an interim dividend of N0.17. UBA currently trades at N6.45.

Please find attached UBA Plc HY-2020 result analysis.  

Regards,

Click here for the full result analysis.

Read more...

STANBIC Plc. HY’2020- Profit after tax grew by 24.72% to N45.20 billion

Dear Client/Reader, 

Stanbic Plc HY’2020 showed an increase in bottom-line result as profit for the period grew by 24.72%. Interest income declined by 9.30% from N60.78 bn in HY’2019 to N55.13 bn in the current period. Net interest income went down by 4.48% from N39.31 bn in HY’2019 to N37.55 bn in HY’2020. Profit before tax advanced by 17.37% from N44.65 bn in HY’2019 to N52.41 bn in the current period. The increase in profit before tax is attributable to a 94.63% increase in trading income, and supported by declines in key expenditure line items, such as; the fees and commission expense and operating expense, which both went down by 5.41% and 3.06%, respectively. Profit after tax went up by 24.72% from N36.25 bn in HY’2019 to N45.20 bn in the current period, due to a 14.31% decline in income tax expense. Consequently, Stanbic recorded a 22.51% increase in earnings per share from N3.42 in HY’2019 to N4.19 in HY’2020. The company proposed an interim dividend of N0.40. Stanbic currently trades at N37.50.

Please find attached STANBIC Plc HY-2020 result analysis.        

Regards,

Click here for the full result analysis.

Read more...

Daily Financial Market Report for September 02, 2020

Dear Client/Reader,

Equity Market Closes Positive…ASI Gains 18 Basis Points

The Nigerian Stock Exchange (NSE) sustained its uptrend as bulls dominated proceedings in the market today. The benchmark All Share Index (ASI) appreciated by 0.18% to close at 25,460.00. Market Capitalization gained N23.89 billion to close at N13.28 trillion while the Year-to-Date (YtD) returns settled at -5.15%.

Sectors performance broadly bullish

Performance across sectors was mixed as two sectors closed in the red and green zones. Industrial and Oil and Gas indices declined by 0.93% and 0.19% respectively, on the back of selloffs recorded in the shares of Vitafoam (-3.68%) and Wapco (-1.64%); Oando (-2.13%). Conversely, Consumer Goods and Banking indices advanced by 0.55% and 0.36% respectively, on the back of buy interest recorded in the shares of NB (2.56%) and Flourmill (1.06%); UBA (2.00%) and Zenithbank (0.59%). However, Industrial Index closed flat.

NASD Market

The NASD market closed flat after today’s trading activities as the Unlisted Securities Index (USI) settled at 709.45. Consequently, Market Capitalization also decreased by 0.24% to close at N521.14 billion. Market activity measured by aggregate volume decreased by 96.71% while value declined by 79.40%. Investors traded a total of 1,636 units of shares valued at N490,800 in 1 deal. One security traded on the NASD platform today and it was: NDEP Plc.

Please find attached our Daily Financial Market update for today, September 02, 2020.

Thank you.

Click here for the daily financial market report.

Read more...

Daily Financial Market Report for September 01, 2020

Dear Client/Reader,

Equity Market Sustains Bullish Momentum…ASI Gains 34 Basis Points

The Nigerian Stock Exchange (NSE) saw mixed sentiment with the bulls marginally edging the bears today. The benchmark All Share Index (ASI) appreciated by 0.34% to close at 25,413.95. Market Capitalization gained N9.26 billion to close at N13.21 trillion while the Year-to-Date (YtD) returns settled at -5.64%.

Sectors performance broadly bullish

Performance across sectors was broadly bullish as one sector closed in the red zone. Banking, Consumer Goods and Insurance indices advanced by 1.07%, 0.88% and 0.65% respectively, on the back of buy interest recorded in the shares of UBA (4.40%) and Access (3.23%); NB (5.41%); Cornerst (7.14%) and Aiico (5.56%). Conversely, Industrial index declined by 0.12% on the back of selloffs recorded in the shares of Dangcem (-0.67%). However, Oil and Gas index closed flat.

NASD Market

The NASD market closed bearish after today’s trading activities as the Unlisted Securities Index (USI) declined by 24 basis points to close at 709.45. Consequently, Market Capitalization also decreased by 0.24% to close at N521.14 billion. Market activity measured by aggregate volume increased by 558.11% while value advanced by 159.95%. Investors traded a total of 49,753 units of shares valued at N2.38 million in 7 deals. Three securities traded on the NASD platform today and they are: WAMCO Plc, Afriland Properties Plc and CSCS Plc.

Please find attached our Daily Financial Market update for today, September 01, 2020.

Thank you.

Click here for the daily financial market report.

Read more...
Scroll Up