The Nigerian Stock Exchange (NSE) reopened trading on Tuesday after the Easter holidays with a growth of 2.32 per cent in spite of the lockdown extension in some parts of the country. The federal government on April 13 extended lockdowns in Lagos, Abuja and Ogun State for an additional 14 days to contain the coronavirus transmission.
The Bull stands firm in the month of April: Naira devaluation, Low price attraction and Dividend news have attracted investors back to the Stock Market in the midst of the ongoing Coronavirus Pandemic.
Specifically, the All-Share Index improved by 659.99 points or 3.02% to close at 22,539.94 in contrast to 21,879.95. Similarly, the Market Capitalization also increased by 3.02% to close at N11.747 trillion from N11.402 trillion, while the ASI Year-to-Date return stood at -16.03%.
FBNH, ZENITHBANK, GUARANTY, UBA and FCMB were the most active stocks by volume. NEIMETH, CHAMPION, DANGCEM, OANDO and NB emerged the highest price gainers on the chart, while ARBICO, WEMABANK, CUTIX, AIICO and UBN topped the losers chart.
List of Dividends announced so far in 2020
One thing shareholders of listed companies always look out for is the payment of dividends. There is virtually nothing that excites them more than this announcement because it is a form of reward from the company for their support and investment. Like it was rightly said in the Bible (King James Version 1 Timothy 5:18) ‘a labourer is worthy of his reward’.
The Nigerian Stock Exchange (NSE) is presently at the earnings season, it is also important to track these announcements to know who is eligible to collect the dividend, when it will be approved and when it will be paid. Dividend payment also affects share prices.
Bonds and Treasury Bills
As traders seek less risky investments, they are turning to government bonds, sending prices higher.
The bond market – which is many times larger than the stock market – includes tradable loans to governments and businesses. Yields – how much investors will recoup in interest from the loans – drop as the price of the loan rises.
The secondary market for FGN Bonds remained bullish this week as average yield declined by 46 bps to close at 11.31% from 11.77% recorded in the previous week.
African Stock Markets Performance
Coronavirus (COVID-19) is spreading rapidly and has found its way into the stock exchange(s) in Africa. African currencies are taking a hit, economies are being shaken and businesses can only remain hopeful.
The ongoing lockdown over COVID-19 is taking a huge toll on unemployed people in Africa leading to cyber-criminals as they take advantage of COVID-19 pandemic to defraud citizens, steal sensitive information, or gain unauthorized access to computers or mobile devices using different techniques and also there are a lot of boys on the streets with the same mindset to steal because most of them can’t bear the hunger.
Such outcome put fear on businesses and especially investor who wants to trade online. Below is the snapshot of the African stock market.
Global Stock Markets Performance
Bearish stood strong as gold hits high in the global financial market. The S&P 500 index lost about -2.2% to close at 2,783.36 while the Dow Jones industrial average surged by -1.86% to end its trading day at 23,504.35. The NASDAQ 100 also closed -1.15% declined at 8,591.96.
- Guaranty Trust Bank (GT Bank) grants 90-day moratorium on loan repayment for Small and Medium Enterprises (SMEs) that have obtained credit facility from the bank.
- Primero BRT Securitization SPV Plc. – the N16,500,000,000 Series 1; 17% Fixed Rate Bonds due 2026 under the N100,000,000,000 Medium Term Bond Program.
- Flour Mills of Nigeria Plc. – the N12,499,600.000.00 3-Years 10% Series 3 (Tranche A) Fixed Rate Senior Unsecured Bond due 2023; and the N7,500,400,000 5-Year 11.10% Series 3 (Tranche B) Fixed Rate Senior Unsecured Bond due 2025.
Source: NSE, CBP Research, Bloomberg, Business insider and African-markets