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29 Jul

Daily Financial Markets Report for July 29, 2021

Equities market closes on a Negative note… ASI loses 79 Basis Point

The Nigerian Exchange Limited (NGX) closed Negative. The benchmark All Share
Index (ASI) depreciated by 0.79% to close at 38,484.82. Market Capitalization
decreased by 159 Billion to close at N20.05 trillion while the Year-to-Date (YtD)
returns settled at –4.43%.
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, Agriculture and Consumer goods sector. Some of today’s
market losers include: OANDO (-9.70%), UACN (-8.93%), UPDC (-5.56%),
BUACEMENT (-5.21%), HONYFLOUR (-4.76%), UBN (-3.70%), NASCON (-3.67%),
FLOURMILLS (-2.44%), GTCO (-1.69%), DANGSUGAR (-1.62%), ACCESS (-1.61%),
UCAP (-1.45%), UBA (-1.30%), FCMB (-0.99%) and FBNH (-0.67%) amongst others.

NASD Market
The NASD market closed Flat after today’s trading activities as the Unlisted
Securities Index (USI) remained unchanged to close at 753.24. Consequently, Market
Capitalization closed at 654.69 billion. Market activity measured by aggregate
volume decreased by 20.58% while value decreased by 41.96%. Investors traded a
total of 3,749,192 units of shares valued at N65 million in 34 deals.

Please find here our Daily Financial Market update for today, July 29, 2021

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28 Jul

Daily Financial Markets Report for July 28, 2021

Equities market closes on a Flat note… ASI loses 3 Basis Point

The Nigerian Exchange Limited (NGX) closed Negative. The benchmark All Share
Index (ASI) depreciated by 0.03% to close at 38,791.03. Market Capitalization
V
decreased
by 5.79 Billion to close at N20.21 trillion while the Year-to-Date (YtD)
returns settled at –3.67%.

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, Agriculture and Consumer goods sector. Some of today’s
market losers include: TRIPPLEG (-10.00%), ETERNA (-6.58%), FIDELITYBK (-3.60%),
CHAMPION (-2.17%), FCMB (-1.95%), ZENITHBANK (-1.61%), VITAFOAM (-1.57%),
UBA (-1.28%), ACCESS (-1.06%), TRANSCORP (-1.06%), AIICO (-0.93%), UCAP (-
0.72%) and FBNH (-0.67%) amongst others.

NASD Market

The NASD market closed Negative after today’s trading activities as the Unlisted Securities Index (USI) decreased by 0.08% to close at 754.21. Consequently, Market Capitalization closed at 655.54 billion. Market activity measured by aggregate volume decreased by 98.37% while value decreased by 73.08%. Investors traded a total of 4,720,674 units of shares valued at N112 million in 32 deals.

Please find here our Daily Financial Market update for today, July 28, 2021

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27 Jul

Daily Financial Markets Report for July 27, 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 38,802.15. Market Capitalization
decreased by 24 Billion to close at N20.21 trillion while the Year-to-Date (YtD)
returns settled at –3.65%.
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, Agriculture and Consumer goods sector. Some of today’s
market losers include: UPDCREIT (-6.67%), UNITYBNK (-6.45%), UPDC (-5.19%),
CHAMS (-4.76%), AFRIPRUD (-3.10%), WEMABANK (-2.27%), INTBREW (-1.92%),
UCAP (-1.28%), MTNN (-1.15%), UNILEVER (-1.05%), ETI (-0.94%), UACN (-0.88%),
UBA (-0.64%) and GTCO (-0.34%) amongst others

NASD Market
The NASD market closed Positive after today’s trading activities as the Unlisted
Securities Index (USI) increased by 0.18% to close at 754.85. Consequently, Market
Capitalization closed at 656.09 billion. Market activity measured by aggregate
volume increased by 5,321.43% while value increased by 341.92%. Investors traded
a total of 290,314,273 units of shares valued at N416 million in 36 deals.

Please find here our Daily Financial Market update for today, July 27, 2021

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27 Jul

Daily Financial Markets Report for July 26, 2021

Equities market closes on a Positive note… ASI gains 47 Basis Point

The Nigerian Exchange Limited (NGX) closed Positive. The benchmark All Share
Index (ASI) appreciated by 0.47% to close at 38,849.08. Market Capitalization
increased by 94 Billion to close at N20.24 trillion while the Year-to-Date (YtD)
returns settled at –3.53%.
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, Agriculture and Consumer goods sector. Some of today’s
market gainers include: OANDO (9.82%), ARDOVA (9.75%), UACN (8.57%), JBERGER
(7.88%), WAPCO (5.29%), ETI (3.92%), PZ (3.45%), FLOURMILLS (3.02%),
AIRTELAFRI (2.33%), ACCESS (2.19%), DANGSUGAR (1.13%), UBA (0.64%) and GTCO
(0.17%) amongst others.

NASD Market
The NASD market closed Negative after today’s trading activities as the Unlisted
Securities Index (USI) decreased by 0.12% to close at 753.52. Consequently, Market
Capitalization closed at 654.93 billion. Market activity measured by aggregate
volume increased by 104.71% while value increased by 31.47%. Investors traded a
total of 5,354,938 units of shares valued at N94 million in 45 deals

Please find here our Daily Financial Market update for today, July 26, 2021

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26 Jul

Weekly Market Review & Stock Recommendations – July 26, 2021

Dear Client/Reader,

Global Economic Roundup

Oil edges up in weekly rebound on forecasts for tight supplies

Oil prices edged higher on Friday and for the week after a strong recovery from Monday’s steep slide, underpinned by expectations that supply will remain tight through the year. The price of oil and other riskier assets tumbled at the start of the week on concern over the impact on the economy and crude demand from surging cases of the COVID-19 Delta variant in the United States, Britain, Japan and elsewhere. Brent crude ended the session up 31 cents, or 0.4%, at $74.10 a barrel after jumping 2.2% on Thursday. U.S. West Texas Intermediate (WTI) crude settled up 16 cents, or 0.2%, at $72.07, after gaining 2.3% on Thursday.

Beijing tutoring crackdown slams U.S.-listed Chinese stocks

Fears of increased of regulation from Beijing crushed U.S.-listed Chinese stocks on Friday following a Chinese government crackdown on private educators. U.S. shares of TAL Education Group (TAL.N) and New Oriental Education & Technology Group Inc, which provide tutoring and test preparation services in China, each dropped more than 50% after news that the government is barring tutoring for profit in core school subjects to ease financial pressures on families that have contributed to low birth rates. 

Nigeria, others to benefit as UK considers new trade scheme for growth

The UK Government has launched a consultation on new trading rules that will help countries like Nigeria grow its trade and and help British businesses and consumers at the same time. The UK Developing Countries Trading Scheme (DCTS) is a major opportunity to grow free and fair trade with developing nations. The proposed scheme will apply. 

Some of our recommended stocks are mentioned below;

AFRIPRUD PLC:

Afriprud Plc’s result for Q2’2021 showed that revenue contract from N0.59b in Q2  2020 to N0.52b in Q2 2021 by 12%. Gross earnings also  decreased by 11% from N1.87 bn in Q2’2020 to N1.67bn in Q2 2021. Interest  income dropped by 10% from N1.28 bn in Q2’2020 to N1.15bn in Q2’2021. Profit before tax went down  by 20% from N1.22 bn in Q2’2020 to N0.97 bn in the current period. Profit after tax contracted by 24% to N0.83 bn in the current period from N1.08 bn in Q2’2020. Consequently, Earnings per share went down by 24% from N0.54 in Q2’2020 to N0.41 in the current period. Afriprud has a BVPS of N4.08, P/BV of 1.69x and P/E ratio of 8.41x. 

UCAP PLC:

United Capital’s result for Q2’2021 showed that gross earnings increased by 54% from N4.45 bn in Q2’2020 to N6.85bn in Q2 2021. Net operating income rose by 57% from N4.35 bn in Q2’2020 to N6.81bn in Q2’2021. Profit before tax rose by 65% from N2.27 bn in Q2’2020 to N3.74 bn in the current period. Profit after tax increased by 64% to N3.14 bn in the current period from N1.91 bn in Q2’2020. Consequently, Earnings per share went up by 64% from N0.64 in Q2’2020 to N1.05 in the current period. UCAP has a BVPS of N3.61, P/BV of 1.58x and P/E ratio of 5.92x. Please find attached.

Thank you.

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

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