Nigerian Equity Market: Stock Recommendations for the Week (06/04/2021 – 09/04/2021)

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Last week, trading activities on the Nigerian equity market closed on a negative sentiment despite gains from a large number of stocks. However, the negative sentiment was impacted by the most largely capitalized stock (DANGCEM), and the banking stocks.

Consequently, the NSE-ASI and NSE Market Capitalization declined by 0.76%w/w to close for the week at 38,916.74 absolute points and N20.36 trillion compared to 39,216.20 absolute points and N20.52 trillion in the prior week. This nominally translates to a week-on-week loss of N156.67 billion in Market Capitalization value.

The downturn was impacted by losses recorded in few medium and large capitalized stocks, amongst which are; GUARANTY (-5.07%), FCMB (5.03%), WEMABANK (-5.00%), HONYFLOUR (-4.84%), UBN (4.72%), DANGCEM (-4.44%), ACCESS (-2.99%), UNILEVER (-2.55%), STANBIC (-2.02%), and FBNH (-0.68%).

Outlook for the week

We expect the relatively low priced stocks, as well as some high dividend yield stocks to spur long term investors to the market. However, we expect to see reactions from investors in the new trading week as yields in the fixed income market continue to rise.

Corporate Actions Update

Stanbic IBTC Holdings Plc (₦3.60 and 1 for 6 bonus)
– Qualification Date – 7th April 2021
– Closure Date – 8th April 2021
– Payment Date – 28th May 2021

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FCMB Group Plc (₦0.15)

  • Qualification Date – 8th April 2021
  • Closure Date – 9th April 2021
  • Payment Date – 21st May 2021

Custodian Investment Plc (₦0.45)

– Qualification Date – 9th April 2021
– Closure Date – 16th April 2021
– Payment Date – 22nd April 2021

Access Bank Plc (₦0.55)

  • Qualification Date – 15th April 2021
  • Closure Date – 16th April 2021
  • Payment Date – 30th April 2021
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Fidelity Bank Plc (₦0.22)

  • Qualification Date – 16th April 2021
  • Closure Date – 19th April 2021
  • Payment Date – 30th April 2021

FBN Holdings Plc (₦0.45)

  • Qualification Date – 20th April 2021
  • Closure Date – 21st April 2021
  • Payment Date – 28th April 2021
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GTI WEEKLY STOCK PICKS FOR THE PERIOD 06/04/2021 – 09/04/2021

Nigerian Equity Market Brandspurng Stock Recommendations for the Week
NOTE: (*) Indicates the company that is yet to release its Full-Year 2020 Earnings’ Result

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