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Transactions on the Nigerian equity market sustained last week uptrend to six consecutive trading session, as the market indices grew by 0.07%, following gains in Banking and Consumer goods sectors. Consequently, the market breadth closed positively, recording 32 gainers as against 11 losers.

In summary, the All-Share Index (ASI) increased by 16.48 absolute points, representing a growth of 0.07% to close at 25,221.23 points. Similarly, the overall Market Capitalization size gained N8.59 million, representing an increase of 0.07% to close at N13.14 trillion.

NB emerged as the top gainer while ARDOVA emerged as the top loser.

The uptrend was impacted by gains recorded in large and medium capitalized stocks, amongst which are; NB (+10.00%), STANBIC (+9.98%), ACCESS (+9.70%), FBNH (+9.62%), DANGSUGAR (+9.38%), GUINNESS (+8.17%), UACN (+7.78%), UBA (+5.88%), ZENITHBANK (+5.60%), GUARANTY (+4.63%), WAPCO (+3.11%), DANGCEM (+2.46%), and WEMABANK (+1.69%).

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MARKET STATISTICS

CAP N13,144,119,164,300.35 One Day (ASI CHG) +0.07%
Index 25,221.23 One Week (ASI CHG) +3.14%
Volume 581,606,575 One Month (ASI CHG) +11.52%
Value N5,590,619,232.87 Six Months (ASI CHG) -5.86%
Deals 7,759 52 Weeks (ASI CHG) -16.47%
Gainers 32 Losers 11
Unchanged 56 Total 99
-6.04%

Source: NSEGTI Research

FOREIGN EXCHANGE

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

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The Investors and Exporters (I&E) FX window opened at N386.52, traded high at N390.00 and eventually closed at N385.94to remain unchanged as against last Friday’s closing position. A total of $29.38 million was transacted through the I&E window today.

MONEY MARKET

Overnight(O/N) rate closed at 15.60%, representing a 0.03% depreciation against last Friday’s closing position, while Open Buy-Back (OBB) rate closed at 15.00%, to remain unchanged as against last Friday’s position.

FIXED INCOME
Securities P. Close Close Change
Bond 490.24 478.24 -12.00 bps
T.Bills 243.45 243.63 +0.19 bps
Note: BPS=> Basis Points
Read Also:  Selloff in Banking and Industrial Stocks Leads Equity Index to 0.78% Loss

Source: FMDQGTI Research

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NASD OTC MARKET

The NASD OTC market on Wednesday closed negatively as the Unlisted Securities Index (USI) declined by 1.31% closed at 679.46,  as against last Friday’s closing position. Similarly, Market Capitalization lost N6.65 billion closed at N499.11 billion. The aggregate volume dipped by 85.54%, while the aggregate value grew by 88.34%, as investors traded a total of 47,750 shares, worth N13.67 in 6 deal.

Sector Performance

Sector %    Change
NSE30 0.09
BANKING 5.36
CONSUMER GOODS 3.09
INDUSTRIAL -1.98
INSURANCE -0.56
LOTUS ISLAMIC -1.80
OIL/GAS -0.34

Top 7 Gainers

Company Pclose Open Close Change % Change
NB 39.50 39.50 43.45 3.95 10.00
STANBIC 32.55 32.55 35.80 3.25 9.98
MAYBAKER 2.81 2.81 3.09 0.28 9.96
GLAXOSMITH 7.15 7.15 7.85 0.70 9.79
ACCESS 6.70 6.70 7.35 0.65 9.70
SKYAVN 1.45 1.45 1.59 0.14 9.66
FBNH 5.20 5.20 5.70 0.50 9.62

Top 7 Losers

Company Pclose Open Close Change % Change
ARDOVA 16.00 16.00 14.40 -1.60 -10.00
REGALINS 0.23 0.23 0.21 -0.02 -8.70
AFROMEDIA 0.28 0.28 0.26 -0.02 -7.14
TRANSCORP 0.77 0.77 0.72 -0.05 -6.49
WAPIC 0.33 0.33 0.31 -0.02 -6.06
CAVERTON 2.61 2.35 2.47 -0.14 -5.36
NAHCO 2.40 2.40 2.32 -0.08 -3.33

Top 7 Traders By Volume

Company Volume Value(₦) Current Price
FBNH                           120,862,227                       681,865,462 5.70
ZENITHBANK                             67,266,796                    1,192,369,261 17.90
GUARANTY                             62,688,244                    1,542,059,290 24.85
UBA                             45,789,532                       328,617,532 7.20
TRANSCORP                             36,542,307                         26,993,045 0.72
WAPCO                             29,723,280                       347,325,791 11.60
ACCESS                             23,781,234                       170,083,576 7.35

Top 7 Traders By Value

Company Volume Value(₦) Current Price
GUARANTY                             62,688,244               1,542,059,289.90 24.85
ZENITHBANK                             67,266,796               1,192,369,261.25 17.90
FBNH                           120,862,227                  681,865,461.50 5.70
MTNN                               3,776,272                  435,828,609.80 115.00
WAPCO                             29,723,280                  347,325,791.35 11.60
UBA                             45,789,532                  328,617,531.60 7.20
ACCESS                             23,781,234                  170,083,575.70 7.35
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Gains in banking and consumer goods sectors sustains equity market uptrend - Brand SpurGains in banking and consumer goods sectors sustains equity market uptrend - Brand Spur

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Gains in banking and consumer goods sectors sustains equity market uptrend - Brand SpurGains in banking and consumer goods sectors sustains equity market uptrend - Brand Spur

Latest News

Singapore Employees Lack Retirement Support From Companies While Financial Wellbeing Becomes a Top Priority: Aon Survey

SINGAPORE - Media OutReach - 14 April 2021 - Aon plc (NYSE: AON), a leading global professional services firm providing a broad range of risk, retirement and health solutions, has released the findings of the 2021 Trends in Retirement & Financial Wellbeing survey for Singapore.


Working adults in Singapore ranked retirement planning as their top priority but an alarming 80% underestimate how much they really need to retire. While retirement support from employers is also lacking, further challenges remain around transparency in group retirement plans' investment offerings and employees foregoing long-term perspectives to seek short-term gains.

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Ashley Palmer, Regional Managing Partner, Retirement & Investments, Asia for Aon, said, ""Employers can have a significant impact on how much their employees save by instilling smart habits and healthy money behaviours. The right long-term savings vehicles, effective communications and financial tools will help Singapore's workforce be more financially resilient in the wake of the COVID-19 pandemic."


The survey identifies three main themes in financial wellbeing and retirement support for Singapore employees.


Financial wellbeing support is the new employee expectation. As a result, close to 40% of employers rank an employee financial wellbeing strategy as their highest priority, followed by emotional and mental wellbeing support. The survey shows that 70% of Singapore employers will formulate or execute financial wellbeing programmes throughout 2021, in line with employee expectations. Companies also view offering a financial wellbeing programme critical in increasing employee engagement and remaining competitive in the talent market.


There is an increasing trend of employer-led supplementary savings plans. Currently, 22% of companies surveyed offer Central Provident Fund (CPF) top-up contributions to citizens and Permanent Residents. But, close to 40% of the working population in Singapore are foreigners who do not have access to CPF and are likely to have foregone their retirement benefits in their home countries. To bridge this gap, and to provide equitable retirement benefits to all employee groups, close to 50% of the organisations surveyed offer supplementary retirement benefits to their foreign staff. Financial services firms are leading in this practice, followed by the technology and the healthcare sectors.


Promisingly, a third of organisations in Singapore are prioritising a thorough review of their supplementary retirement arrangements in 2021.


Alicia Brittain, Senior Consultant & Actuary, Retirement & Investments, Singapore for Aon, said, "Forward-looking companies first need to understand the financial worries of their employees and identify the gaps in their benefits offering. The most effective approaches are aimed at changing individual behaviours towards money and savings and providing accessible programmes and vehicles to deliver sustainable change. For example, when organisations provide retirement benefits as cash-in-lieu, it is most likely immediately spent and so does not form part of an emergency fund or long-term savings for the employees' retirement years. Supplementary retirement plans solve this issue and are more flexible and cost effective - and can also offer contributions above the monthly CPF wage cap to increase employee savings."


Employees in Singapore lack a well-defined default investment strategy. Less than 30% of the surveyed companies in Singapore currently offer their employees an investment choice in their retirement plans, and only 15% of retirement plans have a default investment fund. This leads to employees selecting their own optimal investment funds. They may lack experience in understanding investments, which can lead to misallocating their money and result in inadequate retirement savings or excessive risk taking.


Brittain added, "The key to protecting employees and adding value to savings in any defined contribution retirement plan is a well-defined default investment strategy. This includes frequent performance monitoring, actively managing investment risks and dynamically reducing investment risk as employees move towards retirement."


Notes to Editors

The Aon 2021 Trends in Retirement & Financial Wellbeing for Singapore survey was designed to help organisations understand the unique retirement and financial needs of their Singapore workforce. This tri-annual survey was completed by organisations with employee populations ranging from five to over 4,000 and are based in Singapore. Responding Rewards and Benefits Leaders, HR and Finance Professionals provided feedback and insight on their organisations' financial wellbeing and retirement programmes, interests and concerns. Click here for the full report.

About Aon

Aon plc (NYSE: AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.

Follow Aon on Twitter and LinkedIn


Stay up to date by visiting the Aon Newsroom and hear from Aon's expert advisors in The One Brief.


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Gains in banking and consumer goods sectors sustains equity market uptrend - Brand Spur
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