With the unforeseen situation, financial market analysts have expressed their concerns over the week as investors position ahead of Q3 earning releases.

For the analysts, the recorded losses didn’t come as a surprise, as investors are usually skeptical about insecurities in any economy and due to that, their investments are often influenced as it is in the case of the #EndSARS protest.

An analyst at Invest Data Limited, said: “We expect this volatility to continue even as high dividend yields attract inflow to equity assets, ahead of the peak of the Q3 reporting season and momentum associated with earnings season in the midst of crude oil price oscillation.”

A look into the losses

Market capitalisation on the Nigerian Stock Exchange (NSE), represents the total value of stock traded on the Exchange, and it fell to N14.9 trillion as a year to Date return, weakened to 6.0 percent.

The most traded stocks by volume were UBA (40.3million units) Zenith Bank (39.6million units) and Guaranty Trust Bank (38.3million) while GTB (N1.1biilion), Zenith bank (N800.9million) and Nestle (479.9million) led by value.

Activities across sectors was lacking as all indices were lost except insurance index (0.6%) which was buoyed by price appreciation in WAPIC (10.0%). THE BANKING index lost the most, down 1.7% following losses in GTB (-1.3%) and Zenith Bank (-1.2%).

Sell pressures dominated today’s trading session as  investors booked gains from MTN NG which dropped -1.4% followed by Guinness Nigeria -5.9% and ARDOVA -6.3 percent.

To this effect, the NSE All-Share Index, ASI declined 75 bases points, bps or 0.7% to 28,449.49 points. Activity level improved as volume and value traded rose by 9.8% and 44.3 percent to 326.6million units and N4.2 billion respectively.

What You Should Know

There are many factors that contribute to investors’ losses in the financial market. Amongst the factors, is event.

In stock exchange market, some investors pay little or no attention to economic and investment cycles. Realistically, business and economic cycles aren’t always stable; they expand and decline variably.

However, as witnessed since the start of the month,(October 2020), the Nigeria economy  has experienced some setback due to what looked like a just conclude nationwide protest against police brutality, dubbed #ENDSARS.

The #EndSARS agitators, during their demonstration, disrupted the country’s activities, by impeding people from travelling and restricting access to workplaces for individuals. Disappointedly, these restrictive activities have negatively impacted the economy, thereby leading to major losses for different sectors of the economy.

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The value of trades recorded on Monday was NGN7,424 billion, higher than the NGN4,304 billion of Friday.

Meanwhile, on Monday, the All-Share Index reached 27,554.49 index points, higher than the 26,985.77 index points it ended trading with on Friday. The stock market also ended with NGN14,402 trillion equity capitalisation on Monday, higher than the NGN14,105 trillion of Friday.

Top Five Gainers

Airtel Africa led the top gainers’ chart after its stock price gained NGN20.2 kobo to close trading at NGN400.2 per share after opening today’s trading with NGN380 per share, this is according to the Nigerian Stock Exchange (NSE) market data seen by UNMASK NG.

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Seplat was second on the table, as its stock price gained NGN10 to close the market with NGN410 per share, having started trading today with NGN400 per share.

MTN Nigeria was the third top gainer as its stock price closed the market with NGN5 gain to move from the opening price of NGN130 per share to NGN135 per share. Presco follows, closing the market with a gain of NGN2 to end trading with NGN55 per share from the opening share price of NGN53 per share. Guinness was last on the top five gainers’ table after its share price rose from NGN14 per share to close trading at NGN15 per share, after gaining NGN1.

Top Five Losers

On the top of the losers list is Oando, which had begun trading earlier today at NGN2,29 kobo per share, only to drop in price by NGN-0.2 kobo to close at NGN2.09 per share at the end of trading today.

Nigerian Breweries was second on the chart after closing at NGN48.8 kobo per share from its opening trade price of NGN49 per share; this represents a drop of NGN-0.2 kobo. UBN also recorded a drop in its share price as it declined by NGN-0.1 kobo to close trading at NGN5 per share, below the NGN4.9 kobo per share it opened with.

UAC Property also recorded a drop in its share price as it declined by -6.52% to close trading at NGN0.86 kobo per share, below the NGN0.92 kobo per share it opened with. UAC Nigeria completed the top five losers chart after it closed trading with NGN6.45 kobo per share, declining by -0.77% from the NGN6.5 kobo per share it opened trading with.

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Top Five Trades

UNMASK NG learnt that the top trades in the stock market for today were Zenith Bank, which traded a volume of over 204.6 million units worth NGN3.8 billion. Sterling Bank was the second most traded stock today with over 55 million units worth over NGN71.2 million. UBA was next on the list, trading 51.2 million units worth NGN328.8 million.

GTBank was the fourth on the most traded stock list, closing the market with over 36.3 million units traded at a cost of over NGN1.07 billion, while Transcorp completed the top five list with over 35.1 million units traded today, worth NGN20.9 million.

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