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24 Aug

Daily Financial Markets Report for August 24, 2021

Equities market closes on a Positive note… ASI gains 7 Basis Point

The Nigerian Exchange Limited (NGX) closed Positive. The benchmark All Share
Index (ASI) appreciated by 0.07% to close at 39,460.68. Market Capitalization
increased by 13.54 Billion to close at N20.559 trillion while the Year-to-Date (YtD)
returns settled at –2.01%.
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: MORISON (10.00%), TRIPPLEG (9.09%), JAIZBANK (6.90%),
HONYFLOUR (4.93%), CHAMPION (4.27%), ETI (2.83%), WAPCO (2.33%),
DANGSUGAR (0.84%), ZENITHBANK (0.82%), FBNH (0.68%), UCAP (0.57%) and
GTCO (0.36%) amongst others.

NASD Market
The NASD market closed Negative after today’s trading activities as the Unlisted
Securities Index (USI) declined by 0.02% to close at 736.28. Consequently, Market
Capitalization closed at 639.95 billion. Market activity measured by aggregate
volume increased by 313.88% while value increased by 296.12%. Investors traded a
total of 5,734,531 units of shares valued at N98.012 million in 23 deals.

Please find here our Daily Financial Market update for today, August 24, 2021

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23 Aug

Daily Financial Markets Report for August 23, 2021

Equities market closes on a Negative note… ASI loses 12 Basis Point

The Nigerian Exchange Limited (NGX) closed Negative. The benchmark All Share
Index (ASI) depreciated by 0.12% to close at 39,434.69. Market Capitalization
decreased by 25.21 Billion to close at N20.546 trillion while the Year-to-Date (YtD)
returns settled at –2.08%.
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: WAPCO (-5.29%), PZ (-4.17%), ETERNA (-2.36%), FCMB (-
2.27%), TRANSCORP (-1.03%), GTCO (-0.71%), OANDO (-0.41%) and FLOURMILL (-
0.34%) amongst others.

NASD Market
The NASD market closed Positive after today’s trading activities as the Unlisted
Securities Index (USI) advanced by 0.05 % to close at 736.43. Consequently, Market
Capitalization closed at 640.08 billion. Market activity measured by aggregate
volume decreased by 25.15% while value decreased by 21.99%. Investors traded a
total of 1,385,551 units of shares valued at N24.74 million in 20 deals.

Please find here our Daily Financial Market update for today, August 23, 2021

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23 Aug

Weekly Market Review & Stock Recommendations – August 23, 2021

Dear Client/Reader,

Global Economic Roundup

OPEC+ sees no need to meet U.S. call for more supply.

OPEC and its allies, including Russia, believe oil markets do not need more oil than they plan to release in the coming months, despite U.S. pressure to add supplies to check an oil price rise. The price of international benchmark Brent crude has risen 35% this year towards $70 a barrel, driven by economic recovery from the pandemic and supply restraint by the Organization of the Petroleum Exporting Countries and its partners in the alliance known as OPEC+. The latest data from OPEC and from the West’s energy watchdog – the International Energy Agency (IEA) – also indicated there was no need for extra oil.

Stocks Suffer Worst Drop in a Month; Dollar Climbs: Markets Wrap

Stocks posted their biggest decline in a month amid concern that the global economic recovery will lose momentum with further shutdowns to contain coronavirus resurgence. Traders watched closely Federal Reserve Chair Jerome Powell’s remarks during a town hall with educators and students, where he noted the central bank’s “powerful tools” have limitations. Powell also said that Covid-19 will likely stay “for a while,” and we’re not going back to a pre-pandemic economy. Policy makers will gather next week for the Jackson Hole symposium, the Fed’s most-prominent annual conference.

President Muhammadu Buhari has signed the Petroleum Industry Bill 2021 into law.

The Petroleum Industry Act aims to improve transparency in the petroleum sector, calls for 30% of the Nigerian National Petroleum Corporation’s (NNPC) profit from petroleum sharing contracts to be spent on frontier exploration and proposes a 3% share of oil revenues to be distributed to oil-producing communities. The Senate had passed the bill on July 15, 2021, while the House of Representatives did the same on July 16, thus ending a long wait since the early 2000s. Some activists from civil society organisations have condemned the bill for failing to address critical issues in the oil and gas sector, especially as they concern oil-rich communities.

Some of our recommended stocks are mentioned below;

DANGSUGAR PLC:

Dangsugar Plc’s result for Q2’2021 showed that revenue increased from N103.23bn in Q2  2020 to N131.95bn in Q2 2021 by 28%. Operating profit also increased by 35% from N17.39bn in Q2’2020 to N23.48bn in Q2 2021. Profit before tax rose by 10% from N17 bn in Q2’2020 to N18.75bn in the current period. Profit after tax increased by 9% to N12.6bn in Q2 2021 from N11.5bn in Q2 2020. EPS increased by 7% from N0.97 in Q2’2020 to N1.04 in the current period. Dangsugar Plc has a BVPS of N9.80, P/BV of 1.82x and P/E ratio of 8.58x.

MTNN PLC:

MTNN’s Q2 2021 results showed an increase in revenue by 24% from N638bn in Q2’2020 to N791.26bn in Q2’2021. Operating profit advanced from N204bn in Q2’2020 to N273.7bn in Q2’2021, reflecting an increase of 34%. Profit before tax went up by 54% from N139.57bn in Q2’2020 to N215bn in the current period, due to an 11.41% decrease in finance cost. Profit after tax grew by 49% from N95bn in Q2’2020 to N141.83 bn in Q2’2021, despite a 64% surge in taxes. EPS grew by 49% to N6.97 in Q2’2021 from N4.66 in Q2’2020. MTNN has a BVPS of N9.83, P/BV of 17.50x and P/E ratio of 12.34x.

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

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20 Aug

Daily Financial Markets Report for August 20, 2021

Equities market closes on a Negative note… ASI loses 47 Basis Point

The Nigerian Exchange Limited (NGX) closed Negative. The benchmark All Share
Index (ASI) depreciated by 0.47% to close at 39,483.08. Market Capitalization
decreased by 97.54 Billion to close at N20.57 trillion while the Year-to-Date (YtD)
returns settled at –1.96%.
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: FTNCOCOA (-6.98%), UPL (-6.20%), CADBURY (-5.03%),
INTBREW (-4.00%), SOVRENINS (-3.85%), JAIZBANK (-3.33%), WAPCO (-1.30%),
OANDO (-1.21%), ACCESS (-1.10%), CAVERTON (-1.10%), TRANSCORP (-1.02%) and
UBA (-0.66%) amongst others.

NASD Market
The NASD market closed Negative after today’s trading activities as the Unlisted
Securities Index (USI) declined by 0.11 % to close at 736.07. Consequently, Market
Capitalization closed at 639.77 billion. Market activity measured by aggregate
volume increased by 56.67% while value increased by 166.26%. Investors traded a
total of 1,851,170 units of shares valued at N31.72 million in 26 deals.

Please find here our Daily Financial Market update for today, August 20, 2021

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19 Aug

Daily Financial Markets Report for August 19, 2021

Equities market closes on a Positive note… ASI gains 32 Basis Point

The Nigerian Exchange Limited (NGX) closed Positive. The benchmark All Share
Index (ASI) appreciated by 0.32% to close at 39,670.29. Market Capitalization
increased by 64.93 Billion to close at N20.668 trillion while the Year-to-Date (YtD)
returns settled at –1.49%.
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: NAHCO (10.00%), NEIMETH (10.00%), HONYFLOUR (9.96%),
BOCGAS (9.90%), WAPCO (3.84%), AIICO (3.16%), MTNN (2.56%), TRANSCORP
(2.08%), WAPIC (2.08%), WEMABANK (1.16%), ACCESS (1.11%), FBNH (0.68%) and ZENITHBANK (0.21%) amongst others.

NASD Market
The NASD market closed Negative after today’s trading activities as the Unlisted
Securities Index (USI) declined by 0.11 % to close at 736.89. Consequently, Market
Capitalization closed at 640.48 billion. Market activity measured by aggregate
volume decreased by 79.22% while value increased by 88.09%. Investors traded a
total of 1,181,550 units of shares valued at N11.9 million in 13 deals.

Please find here our Daily Financial Market update for today, August 19, 2021

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