Weekly Money Flow In & Out of Stocks Trading At Glance For The First Week of July 6, 2019

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EQUITIES

Management of The Nigerian Stock Exchange (The NSE) at weekend of July 5, 2019 closed the trading activities with equities and others market performance within the week period shown a total turnover of 1.025 billion shares worth N9.911 billion in 19,375 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.771 billion shares valued at N28.036 billion that exchanged hands last week in 18,660 deals.

The Financial Services industry measure by volume led the activity with 660.844 million shares valued at N5.735 billion traded in 11,296 deals; thus contributing 64.49% and 57.87% to the total equity turnover volume and value respectively. While the Healthcare Industry recorded 95.150 million shares worth N61.699 million in 174 deals. The Industrial Goods Industry traded figures stood at a turnover of 89.419 million shares worth N1.416 billion in 1,723 deals.

 

The top three equities in volume are, United Bank For Africa Plc, Zenith Bank Plc and FBN Holdings Plc (measured by volume) accounted for 297.889 million shares worth N3.095 billion in 3,998 deals, contributing 29.07% and 31.23% to the total equity turnover volume and value respectively.

 

The market recorded also a total of 12,375 units of Exchange Traded Fund valued at N6.223 million were traded this week in 8 deals compared with a total of 505,460 units valued at N39.278 million that was transacted last week in 27 deals while Federal Government Bonds recorded a total of 1.007 million units valued at N1.024 billion were traded this week in 14 deals compared with a total of 47,212 units valued at N49.976 million transacted last week in 34 deals.

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The NSE All-Share Index and Market Capitalization depreciated by 2.32% and 2.30% respectively to close the week at 29,270.95 and N12.902 trillion respectively. Similarly, all other indices finished lower with the exception of the NSE Industrial Goods which appreciated by 3.28%

 

Twenty-one (21) equities appreciated in price during the week, lower than Thirty-six (36) in the previous week. Forty-four (44) equities depreciated in price, higher than Thirty-two (32) equities in the previous week, while one hundred and three (103) equities remained unchanged, higher than one hundred (100) equities recorded in the preceding week.

The ten richest stocks of the week are: Academy Press Plc share price opened price with N0.27 and closed the market with a price of N0.40, given an increase of N0.13 representing 48.15 percent change, Consolidated Hallmark Insurance Plc opened market with price of N0.26 and closed with N0.33 which showed an appreciated value of N0.07 representing 26.92percent change, Cement Co. of  North Nig. Plc opened market with price of N13.20 while closed at N15.25, an increased value of N2.05 representing 15.53% change, Lafarge Africa Plc recorded N12.00 as an opened market price and closed at N13.70 with weak value increase of N1.70 to represents 14.17percent change and Cutix Plc’s open market price stood at N1.40 and closed on N1.54 which represents N0.14 appreciation value and account for 10.00percent change.

Others includes Conoil Plc which opened the market with N21.65price and closed on N23.80 with value appreciation of N2.15 representing 9.93% change, B.O.C. Gases Plc recorded 4.13opening price while closed at N4.54 with N0.41increase over the previous record to represent 9.93percent, while Flour Mills Nig. Plc started the market with N14.00 and closed on N15.00 with N1.00different representing 7.14percent followed by Cadbury Nigeria Plc with price of N10.50 at morning and closed at the end with N11.00price leaving with N0.50growth over the previous represents 4.76percent and Sterling Bank Plc came last among ten most profitable of the week with opening price of N2.20 and end withN2.30 a different of N0.10 appreciated value representing 4.55% Change.

 

The worst stocks for the week are stated below:

Company                                                                   Open Price   Close price    Loss (N)    % Change

Smart Products Nigeria Plc                                                   0.44                0.29              -0.15         -34.09

Mutual Benefits Assurance Plc.                                             0.23                 0.20             -0.03         -13.04

Guaranty Trust Bank Plc.                                                      32.90                29.00           -3.90          -11.85

Presco Plc                                                                               52.00                46.80           -5.20         -10.00

Red Star Express Plc                                                                5.50                   4.95           -0.55         -10.00

Fidson Healthcare Plc                                                               5.05                   4.55            -0.50          -9.90

Livestock Feeds Plc.                                                                 0.53                    0.48            -0.05          -9.43

Julius Berger Nig. Plc.                                                            21.90                  19.95            -1.95          -8.90

Sovereign Trust Insurance Plc                                                  0.23                     0.21            -0.02          -8.70

Eterna Plc.                                                                                 3.95                     3.65            -0.30          -7.59

In the vein, in the week under review the management of the Nigerian Stock Exchange notified the investing public the suspension orders of eleven (11) listed Companies. According to the management in Pursuant to Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, Rulebook of The Exchange (Issuers’ Rules) (“Default Filing Rules”), which provides that; “If an Issuer fails to file the relevant accounts by the expiration of the Cure Period, The Exchange will: (a) Send to the Issuer a “Second Filing Deficiency Notification” within two (2) business days after the end of the Cure Period; (b) Suspend trading in the Issuer’s securities; and (c) Notify the Securities and Exchange Commission (SEC) and the Market within twenty- four (24) hours of the suspension”, the shares of the eleven (11) under listed companies have been suspended from trading via the facilities of The Exchange, effective Tuesday, 2nd July 2019: 1,Conoil Plc  2, FTN Cocoa Processors Plc 3, Goldlink Insurance Plc 4, Guinea Insurance Plc 5, Lasaco Assurance Plc 6, Niger Insurance Plc 7, R.T. Briscoe (Nigeria) Plc

Others reports published during the week are 8, Resort Savings & Loans Plc 9, Royal Exchange Plc 10, Standard Alliance Insurance Plc and 11, Universal Insurance Plc

Further looking at the above lists revealed that majority of them are from insurance sector which seem to be more dormant in performing sector.

The NSE said in accordance with the rules set forth above, the suspension of the above listed companies will only be lifted upon the submission of the relevant accounts and provided The Exchange is satisfied that the accounts comply with all applicable rules of The Exchange.

 

The Exchange notified the market that it has lifted the suspension placed on the Trading in the Shares of Conoil Plc with Reference Number: NSE/RD/LRD/MB34/19/07/02 wherein we notified Dealing Members of the suspension of eleven (11) listed companies for non-compliance with Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, Rulebook of The Exchange (Issuers’ Rules) (Default Filing Rules”), which provides that: “If an Issuer fails to file the relevant accounts by the expiration of the Cure Period, The Exchange will: (a) send to the Issuer a “Second Filing Deficiency Notification” within two (2) business days after the end of the Cure Period; (b) suspend trading in the Issuer’s securities; and (c) notify the Securities and Exchange Commission (SEC) and the Market within twenty- four (24) hours of the suspension.”

Also the NSE informed the investing public that Conoil Plc, which was one of the eleven (11) companies that were suspended initially, has now filed its Audited Financial Statement for the year ended 31 December 2018 to The Exchange. In view of the Company’s submission of its Audited Financial Statements, and pursuant to Rule 3.3 of the Default Filing Rules, which provides that: “The suspension of trading in the Issuer’s securities shall be lifted upon submission of the relevant accounts provided The Exchange is satisfied that the accounts comply with all applicable rules of The Exchange? The Exchange shall thereafter also announce through the medium by which the public and the SEC was initially notified of the suspension”, Dealing members are hereby notified that the suspension placed in the trading of the shares of Conoil Plc was lifted today, Friday, 5 July 2019.

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“A total of 586,360,250 ordinary shares of 50 kobo each at N4.00 per share on the basis of 1 new ordinary share for every 2 held as at 28 December 2018 arising from Fidson Healthcare Plc’s Rights Issue was listed on Tuesday 2nd of July 2019. By this action, the total outstanding shares of Fidson Healthcare Plc now stand at 2,086,360,250 units.”


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