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Daily Market Report for June 08, 2022

  • The Nigerian Exchange Limited Bourse closed Negative. The benchmark All Share Index (ASI) depreciated by 0.14% to close at 53,193.98 pts. Market Capitalization decreased by 41.46 billion to close at N28.68 trillion and the Year-to-Date (YtD) returns settled at 24.53%.
  • Performance across sectors was broadly bearish as 2 out of 5 sectors closed in the red zone. Banking and Insurance Indices declined by 0.86% and 1.76% respectively. Consumer Goods and Industrial Indices advanced by 0.13% and 0.03% respectively. While Oil/Gas index remained unchanged.
  • Market activity measured by aggregate volume increased by 6.11% while value decreased by 32.19%. Investors traded a total of 248 million units of shares valued at N1.86 billion in 4,265 deals.

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Daily Market Report for June 07, 2022

  • The Nigerian Exchange Limited Bourse closed Positive. The benchmark All Share Index (ASI) appreciated by 0.35% to close at 53,270.88 pts. Market Capitalization increased by 99.42 billion to close at N28.72 trillion and the Year-to-Date (YtD) returns settled at 24.71%.
  • Performance across sectors was broadly bullish as 3 out of 5 sectors closed in the green zone. Banking, Consumer Goods, and Industrial Indices advanced by 0.29%, 0.34%, and 0.04% respectively. Insurance Index declined by 0.37%. While Oil/Gas index remained unchanged.
  • Market activity measured by aggregate volume decreased by 68.95% and value decreased by 69.16%. Investors traded a total of 234 million units of shares valued at N2.75 billion in 4,232 deals.

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Weekly Market Review & Stock Recommendations – May 30, 2022

Some of our recommended stocks are mentioned below; 
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 Stanbic IBTC Plc Q1 2022 result showed that gross earnings advanced by 47.72% from N45.52bn in Q1 2021 to N67.23bn in the current period. Net interest income increased by 47.75% to N23.43bn in Q1 2022 from N15.86bn in Q1 2021. In a similar tune, trading income increased by 226% from N3.22bn in Q1 2021 to N10.5bn in the current period. Profit before tax advanced by 61.41% from N12.14bn recorded in Q1 2021 to N19.6bn in the current period. Likewise, profit after tax grew by 33.87% from N11.26bn in Q1 2021 to N15.07bn in Q1 2022 despite an increase in income tax expense by 411.4%. Consequently, earnings per share went up by 35.37% from N0.82 in Q1 2021 to N1.11 in Q1 2022. Stanbic IBTC Plc has a BVPS of N30.56, P/BV of 1.13x and P/E ratio of 7.77x. 
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 MTNN Plc Q1 2022 results showed an increase in revenue by 22.23% from ₦385.32bn in Q1 2021 to ₦470.98bn in Q1 2022. Operating profit advanced from ₦133.11bn in Q1 2021 to ₦179.33bn in Q1 2022, reflecting an increase of 34.72%. Profit before tax grew by 39.42% from ₦102.99bn in Q1 2021 to ₦143.59bn in the current period, despite a 28.65% increase in finance costs. Profit after tax rose by 31.28% from ₦73.75bn in Q1 2021 to ₦96.82bn in Q1 2022. EPS increased by 31.49% to ₦4.76 in Q1 2022 from ₦3.62 in Q1 2021. MTNN has a BVPS of ₦17.54, P/BV of 13.51x, and P/E ratio of 12.45x.
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