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11 Nov

Daily Financial Markets Report for November 11, 2021

Equities market closes on a Negative note… ASI loses 36 Basis Point

The Nigerian Exchange Limited (NGX) closed Negative. The benchmark All Share
Index (ASI) depreciated by 0.36% to close at 43,549.28. Market Capitalization
decreased by 82.46 Billion to close at N22.73trillion while the Year-to-Date (YtD)
returns settled at 8.14%.
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, Consumer Goods and Oil & Gas. Some of
today’s market losers include: ETRANZACT (-7.32%), STERLNBANK (-3.23%), UBA (-
2.40%), ETI (-2.31%), NGXGROUP (-2.16%), WEMABANK (-1.15%), FIDELITYBK (-
1.11%), UCAP (-1.02%), GTCO (-0.90%), ACCESS (-0.53%), MTNN (-0.50%) and
ZENITHBANK (-0.41%) amongst others.

NASD Market
The NASD market closed Positive after today’s trading activities as the Unlisted
Securities Index (USI) increased by 0.59% to close at 757.16. Consequently, Market
Capitalization closed at 625.55 billion. Market activity measured by aggregate
volume increased by 292.50% while value increased by 485.36%. Investors traded a
total of 222,154 units of shares valued at N5.69 million in 15 deals

please find here our Daily Financial Market update for today, November 11, 2021

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09 Nov

Daily Financial Markets Report for November 9, 2021

Equities market closes on a Positive note… ASI gains 112 Basis Point

The Nigerian Exchange Limited (NGX) closed Positive. The benchmark All Share
Index (ASI) appreciated by 1.12% to close at 43,730.55. Market Capitalization
increased by 252 Billion to close at N22.82trillion while the Year-to-Date (YtD)
returns settled at 8.59%.
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, Consumer Goods and Oil & Gas. Some of
today’s market gainers include: FTNCOCOA (10.00%), ARDOVA (7.38%), UACN
(7.14%), NGXGROUP (4.63%), MTNN (3.90%), WAPCO (3.46%), STERLNBANK
(3.33%), UCAP (2.62%), AIRTELAFRI (2.56%), DANGSUGAR (2.40%), FIDELITYBK
(1.85%), AIICO (1.56%), FLOURMILL (1.40%), NAHCO (1.16%), ACCESS (0.53%) and
FIDSON (0.32%) amongst others.

NASD Market
The NASD market closed Positive after today’s trading activities as the Unlisted
Securities Index (USI) increased by 0.17% to close at 752.67. Consequently, Market
Capitalization closed at 621.84 billion. Market activity measured by aggregate
volume increased by 1,493.68% while value increased by 817.80%. Investors traded
a total of 725,984 units of shares valued at 15.03 million in 17 deals

please find here our Daily Financial Market update for today, November 09, 2021

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08 Nov

Daily Financial Markets Report for November 8, 2021

Equities market closes on a Positive note… ASI gains 293 Basis Point

The Nigerian Exchange Limited (NGX) closed Positive. The benchmark All Share
Index (ASI) appreciated by 2.93% to close at 43,246.87. Market Capitalization
increased by 643 Billion to close at N22.57trillion while the Year-to-Date (YtD)
returns settled at 7.39%.
What shaped today’s market direction?
Today’s market direction can be largely attributed to gains recorded in large and
mid-cap stocks in Industrial and Consumer Goods. Some of today’s market gainers
include: AIRTELAFRI (10.00%), REDSTARX (9.94%), MTNN (9.62%), UNILEVER
(9.36%), UCAP (3.80%), NGXGROUP (3.38%), ETI (2.96%), FBNH (2.25%), WAPCO
(1.96%), GUINNESS (1.63%), OANDO (0.83%) and NAHCO (0.58%) amongst others.

NASD Market
The NASD market closed Positive after today’s trading activities as the Unlisted
Securities Index (USI) increased by 0.79% to close at 751.40. Consequently, Market
Capitalization closed at 620.79 billion. Market activity measured by aggregate
volume decreased by 97.84% while value decreased by 54.76%. Investors traded a
total of 45,554 units of shares valued at 1.63 million in 7 deals

please find here our Daily Financial Market update for today, November 08, 2021

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08 Nov

Weekly Market Review & Stock Recommendations – November 8, 2021

Dear Client/Reader,

Global Economic Roundup

US Federal Reserve winding down Covid stimulus

The US Federal Reserve has announced it is winding down the massive stimulus programme it put in place at the onset of the Covid-19 pandemic amid fears that the central bank may have to raise rates soon to control rising inflation. Fed officials have been debating for months over whether and when to taper the stimulus programmes that it set up to head off the economic headwinds caused by the pandemic. They announced on Wednesday that they would begin cutting that stimulus by $15bn a month but left interest rates unchanged.

Oil gains as supply concerns re-emerge after OPEC+ output plan

Brent crude was up $2.14, or 2.7%, at $82.68 per barrel. West Texas Intermediate crude (WTI) gained $2.47, or 3% to $81.28. The Organization of the Petroleum Exporting Countries and allies including Russia, collectively known as OPEC+, agreed on Thursday to stick to their plan to raise oil output by 400,000 barrels per day (bpd) from December. U.S. President Joe Biden had called for extra output to cool rising prices. OPEC’s decision to stay the course and the Biden administration’s lack of a substantial response has the oil rally continuing.  Only a coordinated effort, with China and others involved, would address the lack of barrels in the market. After the OPEC+ meeting, the White House said it would consider all tools at its disposal to guarantee affordable energy, including the possibility of releasing oil from strategic petroleum reserves (SPR).Pension funds invested in banks rise to N2.05tn

Nigeria owes China $3 billion as of 2020

The World Bank says Nigeria has so far borrowed $3.121 billion from China as at March 2020, an amount which represents only 3.94 per cent of Nigeria’s total public debt of $79.21 billion as of September 2021.Similarly, in terms of external sources of funds, loans from China accounted for 11.28 per cent of the External Debt Stock of USD27.67 billion as of the same date. According to the World Bank, the total borrowing from China of USD 3.121 billion as of March 31, 2020, are concessional loans with interest rates of 2.50 per cent per annum with a tenor of 20 years and a grace period (moratorium) of seven years.

Some of our recommended stocks are mentioned below;

ZENITH PLC:

Zenith Plc Q3’2021 results showed that gross earnings advanced by 1.91% to N518.67bn from N508.97bn in Q3’2020. Interest income declined by 3.13% from N318.82bn in Q3’2020 to N308.84bn. Profit before tax advanced by 1.43% from N177.28bn recorded in Q3’2020 to N179.81bn in the current period. Profit after tax went up by 0.80% from N159.31bn in Q2’2020 to N160.59bn in Q3’2021 after a 6.95% increase in income tax expenses. Earnings per share advanced by 0.79% from N5.07 in Q3’2020 to N5.11 in the current period. Zenith Bank has a BVPS of N37.81, P/BV of 0.66x and P/E ratio of 2.45x.

AFRIPRUD PLC:

Afriprud Plc’s result for Q3’2021 showed that Gross Earnings declined from N2.63bn in Q3 2020 to N2.44bn in Q3 2021 by 7.03%. Interest income dropped by 9.16% from N1.77 bn in Q3’2020 to N1.60bn in Q3’2021. Profit before tax went down by 14.25% from N1.56 bn in Q3’2020 to N1.34 bn in the current period. Profit after tax declined by 18.27% to N1.15 bn in the current period from N1.40 bn in Q3’2020. Consequently, Earnings per share went down by 18.31% from N0.71 in Q3’2020 to N0..58 in the current period. Afriprud has a BVPS of N4.25, P/BV of 1.49x and P/E ratio of 5.47x.

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

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