Nigerian Markets Last Week: Historic Trading Day on Nigerian Bourse, Pfizer Vaccine Success Lifts Oil

The Nigerian Markets Last Week for the week ended November 13, 2020.

Stock Market

The Nigerian Stock Exchange All-Share Index and Market Capitalization both appreciated by 12.97% to close the week at 35,037.46 and ₦18.308 trillion respectively. Similarly, all other indices finished higher while the NSE ASeM Index closed flat.

It was a historic trading week as the benchmark index posted its largest daily gain in more than five years on Thursday, November 12, 2020. The ASI rose beyond the set threshold of 5%, triggering a 30-minute trading halt of all stocks for the first time since the Circuit Breaker was introduced in 2016.

Top price gainers and decliners in the week under review:

Top price gainers

CompaniesGain (₦)% Change
Oando Plc1.3048.15
Japaul Oil & Maritime Services Plc0.1043.48
N Nig. Flour Mills Plc.2.2040.00
Livestock Feeds Plc.0.3936.79
Fidson Healthcare Plc1.60 36.53
Transnational Corporation Of Nigeria Plc0.3035.29
Dangote Sugar Refinery Plc5.70 34.55
Neimeth Int’l Pharmaceuticals Plc0.67 33.50
Wema Bank Plc.0.2031.25
Mutual Benefits Assurance Plc.0.0630.00 

Top price decliners

CompaniesLoss (₦)% Change
Ikeja Hotel Plc-0.11-9.91
Global Spectrum Energy Services Plc-0.46-9.89
Morison Industries Plc.-0.05-9.26
Consolidated Hallmark Insurance Plc-0.03-8.11
Cap Plc-0.85-3.70 
Lasaco Assurance Plc.-0.01-2.78
Aiico Insurance Plc-0.02-2.17
Portland Paints & Products Nigeria Plc-0.06 -2.02 
Eterna Plc.-0.10 -2.00
Learn Africa Plc-0.02 -1.74

Exchange Rate(s)

Crude oil prices

With information from OilPrice Intel.

Inflation

Nigeria’s annual inflation rate is currently estimated to be at 13.71% (for September 2020) according to data from the National Bureau of Statistics. It was the highest inflation rate since February of 2018 and was due to widespread increases in prices driven by the border closure, the Covid crisis as well as lower interest rates.

Manufacturing

The Central Bank of Nigeria composite Purchasing Managers’ Index for the manufacturing sector rose to 49.4% in October from 46.9% in September, still below the 50% benchmark, indicating a 6th straight month of contraction in factory activity.

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