Equity Market surge as Covid-19 Lockdown eases

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The Nigerian equity market sustained last week’s positive sentiment as the Covid-19 lockdown ease begin today (Monday), following the Federal government directive to open the economy partly, after 34 days of total lockdown in Lagos and Ogun state, including the FCT. However, the market breadth closed negatively, recording 15 gainers as against 19 losers.

In summary, the All-Share Index (ASI) increased by 68.85 absolute points, representing a growth of 0.30% to close at 23,089.86 points. Similarly, the overall Market Capitalization size increased by N35.88 billion, representing a growth of 0.30% to close at N12.03 trillion.

PRESTIGE emerged as the top gainer while NEM & NEIMETH emerged as the top losers.

The uptrend was impacted by gains recorded in large and medium capitalized stocks, amongst which are; ARDOVA (+9.96%), UACN (+4.39%), VITAFOAM (+3.83%), MTNN (+3.57%), TRANSCORP (+3.03%), DANGSUGAR (+2.81%), OANDO (+1.21%) and ZENITHBANK (+0.35%).

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FOREIGN EXCHANGE

The Naira at the official window on Thursday closed unchanged at 361.00/$1, against last Thursday’s position.

The Investors and Exporters (I&E) FX window opened at N385.33, traded high at N390.00, and eventually closed at N384.00representing a 0.85% appreciation against last Thursday’s closing position. A total of $83.41 million was transacted through the I&E window today.

MONEY MARKET

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Overnight(O/N) rate closed at 4.67%, representing a 1.92% appreciation against last Thursday’s closing position, while Open Buy-Back (OBB) rate closed at 4.00%, representing a 1.75% appreciation against yesterday’s position.

FIXED INCOME
Securities P. Close Close Change
Bond 479.80 476.58 -3.22bps
T.Bills 405.72 407.93 +2.21 bps
Note: BPS=> Basis Points

Source: FMDQGTI Research

NASD OTC MARKET

The NASD OTC market on Monday closed negatively as the Unlisted Securities Index (USI) closed at 700.35, representing a 0.05% decline as against last Thursday’s closing position. Similarly, Market Capitalization lost N280 million to closed at N514.46 billion. Also, the aggregate volume and value decreased by 97.82% and 99.03%, as investors traded a total of 2,750 shares, worth N322,000 in 3 deal.

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Click here for more on NASD Daily Price List

Sector Performance

Top 7 Gainers

Company Pclose Open Close Change % Change
PRESTIGE [BLS] 0.50 0.50 0.55 0.05 10.00
ARDOVA 11.55 11.55 12.70 1.15 9.96
WAPIC 0.26 0.26 0.28 0.02 7.69
LEARNAFRCA 1.03 1.03 1.10 0.07 6.80
MBENEFIT 0.20 0.20 0.21 0.01 5.00
UACN 6.90 6.90 7.20 0.30 4.35
VITAFOAM 4.96 4.96 5.15 0.19 3.83

 

Top 7 Losers

Company Pclose Open Close Change % Change
NEIMETH 0.60 0.60 0.54 -0.06 -10.00
NEM 2.20 2.20 1.98 -0.22 -10.00
CHAMS 0.23 0.23 0.21 -0.02 -8.70
ACCESS 6.60 6.60 6.10 -0.50 -7.58
UPL 1.06 1.06 0.98 -0.08 -7.55
CAVERTON [BLS] 2.47 2.47 2.30 -0.17 -6.88
FIDSON 2.45 2.45 2.30 -0.15 -6.12

 

Top 7 Traders By Volume

Company Volume Value(₦) Current Price
GUARANTY                             44,533,559                       935,210,413 21.00
FBNH                             40,713,687                       187,413,957 4.60
UBA                             24,753,358                       144,554,440 5.80
ZENITHBANK                             22,850,851                       328,505,804 14.35
ACCESS                             14,508,254                         89,399,488 6.10
STERLNBANK                             13,882,234                         17,715,391 1.28
UCAP                             11,607,353                         28,125,232 2.40

 

Top 7 Traders By Value

Company Volume Value(₦) Current Price
GUARANTY                             44,533,559                  935,210,412.60 21.00
ZENITHBANK                             22,850,851                  328,505,804.05 14.35
FBNH                             40,713,687                  187,413,956.70 4.60
MTNN                               1,613,168                  187,372,944.50 116.00
UBA                             24,753,358                  144,554,439.90 5.80
DANGCEM                                  962,950                  129,057,172.50 130.00
ACCESS                             14,508,254                    89,399,487.70 6.10
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Latest News

Asia Pacific Rayon Raises US$300m from National and International Affiliated Banks to Expand Production Capacity

  • Continued capital expenditure aims to boost production and support the recovery of Indonesian economy
  • Loan agreements aligned with Indonesian Government's strategy to drive investment growth in 2021
  • APR is a member of the RGE group of companies


JAKARTA, INDONESIA - Media OutReach - 12 April 2021 - Asia Pacific Rayon (APR), the largest integrated rayon fiber producer in Indonesia, today announced that it has secured a syndicated loan facility of Rp 4.5 trillion (US$300 million) with national and international affiliated banks. The funding will be used to support continued capital investment in the company's production facilities at Pangkalan Kerinci, Riau Province, Sumatra.

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APR is vertically integrated through its supply chain, from renewable fiber plantations to high-value textile development. It commenced operations in 2019 and was formally inaugurated by President Jokowi Widodo in February 2020. APR plans to increase its production capacity over the coming year to capture the strong growth potential of viscose staple fiber (VSF), strengthening its market position in Indonesia and in export markets across the region. APR is a member of the RGE group of companies. Founded by Sukanto Tanoto, RGE manages a group of resource-based manufacturing companies with global operations.

The syndicated loan participating banks are PT Bank Rakyat Indonesia (Persero) Tbk, PT Bank Central Asia Tbk, PT Bank Pan Indonesia Tbk, PT Bank Pembangunan Daerah Jawa Barat, PT Bank Woori Saudara Indonesia 1906 Tbk and PT Bank KEB Hana Indonesia

The joint mandated lead arrangers and bookrunners for the syndicated loan are PT Bank Rakyat Indonesia (Persero) Tbk, PT Bank Central Asia Tbk, and PT BANK Pan Indonesia Tbk.

Basrie Kamba, Director, Asia Pacific Rayon, said: "This funding will be used to support continued investment in our operations in Kerinci. Rayon fiber, or viscose, is a textile raw material derived from sustainably managed plantations. As rayon is both renewable and biodegradable, it supports the trend towards sustainable fashion in Indonesia and in other markets around the world."

APR's planned expansion is aligned with the Indonesian Government's strategy to increase investment and boost employment to support the recovery of the country's economy and address the continued impact of the COVID-19 pandemic. Following the passing into law of the Omnibus Bill in October last year to streamline investment and stimulate job creation, President Widodo said last month that investment would be the key factor in achieving 5% economic growth in 2021.

"This loan facility and our continued investment in our operations are evidence of the growth potential of the viscose rayon sector in Indonesia and around the world. We are committed to supporting the Indonesian Government's efforts to improve the investment climate in export-oriented manufacturing industries, and its efforts to create upstream jobs in plantations and the processing of raw materials, and downstream opportunities in textile factories and related businesses," said Basrie.

Hari Setiawan, Executive Vice President of PT Bank Rakyat Indonesia (Persero) Tbk said : "As Representative of JMLAB and all lenders, I hope this collaboration will be useful to support the growth and development of PT Asia Pacific Rayon in increasing production and operations and also supporting the recovery of Indonesia's export growth."

"Support from BCA and other Banks reflect our confidence in APR, and as our contribution to promote a sustainable and environment friendly industry. We hope this cooperation will tighten our relationship as well," said Susiana Santoso, Executive Vice President of PT Bank Central Asia Tbk.


About Asia Pacific Rayon

Asia Pacific Rayon is the first fully integrated viscose rayon producer in Asia. Located in Pangkalan Kerinci, Riau, the company uses the latest production technology to produce high-quality rayon to meet textile needs. APR is committed to becoming a leading viscose rayon producer with the principles of sustainability, transparency and operational efficiency, serves the interests of the community and the country, and provides value to customers. APR is part of the RGE (Royal Golden Eagle) group of resource-based manufacturing companies. Sustainability is fundamental to APR. The APR Sustainability Policy, updated in September 2020, include additional commitments on pulp sourcing and clean manufacturing.


About RGE

RGE Pte Ltd manages a group of resource-based manufacturing companies with global operations. Our work ranges from the upstream, comprising sustainable resource development and harvesting, to downstream, where our companies create diverse value-added products for the global market. Our commitment to sustainable development underpins our operations, as we strive towards what is good for the community, good for the country, good for climate, good for customer, and good for company. RGE was founded in 1973. The assets held by RGE companies today exceed US$20 billion. With more than 60,000 employees, we have operations in Indonesia, China, Brazil, Spain and Canada and continue to expand to engage newer markets and communities. www.rgei.com

Equity Market surge as Covid-19 Lockdown eases - Brand Spur
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