Economy
Qfac Pick of the Week: United Bank for Africa (UBA) Plc
By Quantitative Financial Analytics Ltd
Though UBA Plc price fell from N11.24 to N11 during the last trading day, this week’s Qfac pick is United Bank for Africa, (UBA) Plc and our analysis is pointing to a buy signal.
United Bank for Africa Plc is a financial institution in Nigeria engaged in corporate, commercial and retail banking as well as trade services, cash management, treasury and custodial services with branches African countries. Our buy signal derives from the following:
Moving Average Analysis: The latest price of N11.00 beats its 5-Day, 5 5-Day, 50-Day, and 100-Day moving average prices. Most technical analysts use the moving average rule that recommends a buy when a market close crosses above x day moving average, while a sell is signalled when a market close crosses below x day moving average (where x could be any number of days)
Commodity Channel Index: Though most chartists use the CCI as an overbought/oversold oscillator, it could be used to signal buys or sells. CCI compares current price with average price over a period of time CCI readings of above 100 indicate a buy while those below -100 indicate a sell. Our CCI index for UBA based on a 14- week period is 200.45
Relative Strength Index (RSI): According to Welles Wilder, who introduced RSI in 1978, market tops are often completed when the RSI rises above 70 while bottoms are formed during periods when the RSI falls below 30. Most analysts prepare to buy as prices dip below 30 using a rise back to 30 as a buy signal and prepare to sell when the RSI moves above 70. This is premised on the notion that RSI of 70 and above indicate that a stock is becoming overbought or overvalued and could be getting ready for a reversal while an RSI value of 30 and below indicate an oversell or an upcoming reversal. Our chart shows that UBA has an RSI of 66.143 which is below the overbought mark, we call it a buy especially for the day traders but could be a hold for longer tern traders.
Moving Average Convergence Divergence (MACD): The MACD uses two lines to signal a buy or a sell, the faster line (MACD) and the slower line (signal). The actual buy or sell signals are given when the two lines cross, such that a crossing by the faster MACD line above the slower signal line indicates a buy while a crossing of the MACD line below the signal line indicates a sell. For UBA, the MACD line just crossed the signal line indicating a buy
Stochastic Oscillator: The Stochastic indicator also uses two lines to signal buys or sells, the %K and %D lines. Buy signals are indicated when the fast %K line rises above 30 accompanied by a cross above the fast %D line while sell signals are indicated when the fast %K stochastic line falls below 80 and accompanied by a cross below the fast %D stochastic line.
As indicated above, the fast %K rose above 30 and crossed above the fast %D on December 27 indicating a buy.
Summary: Based on the above technical charts, we believe that the technical analysis is pointing to a buy signal for UBA.
For complete list of picks or for analysis of any stock of interest, contact Analytics@mutualfundsnigeria.com
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange fell by 0.24 per cent on Friday, April 25 after the duo of FrieslandCampina Wamco Nigeria Plc and Afriland Properties Plc landed on the losers’ table.
FrieslandCampina Wamco Nigeria Plc depreciated by N2.58 to sell at N35.37 per unit compared with the previous day’s N37.95 per unit, and Afriland Properties Plc lost 2 Kobo to close at N17.78 per share versus Thursday’s closing value of N17.80 per share.
However, Geo-Fluids Plc appreciated by 10 Kobo during the trading day to sell for N1.80 per unit, in contrast to the preceding session’s N1.70 per unit. The rise in the price of the stock could not prevent the fall of the bourse yesterday.
Consequently, the market capitalisation of the trading platform went down by N4.64 billion to N1.914 trillion from N1.918 trillion and the NASD Unlisted Security Index (NSI) declined by 7.92 points to 3,269.06 points from 3,276.98 points.
The final trading session of the week ended with a surge of 1,695.8 per cent in the volume of securities transacted to 3.7 billion units from the 206.2 milion units transacted in the previous trading day.
Equally, the value of transactions jumped by 2,592.6 per cent to N9.5 billion from N354.1 million on Thursday, and the number of deals decreased by 47.4 per cent to 20 deals from the 38 deals recorded a day earlier.
Impresit Bakolori Plc remained the most active stock by volume on a year-to-date basis with 533.9 million units sold for N520.9 million, followed by Geo-Fluids Plc with 259.3 million units worth N456.1 million, and Okitipupa Plc with 153.6 million units valued at N4.9 billion.
Also, Okitipupa Plc remained the most active stock by value on a year-to-date basis with 153.6 million units valued at N4.9 billion, trailed by FrieslandCampina Wamco Nigeria Plc with 15.6 million units worth N598.5 million, and Impresit Bakolori Plc with 533.9 million units sold for N520.9 million.
By Dipo Olowookere
A 0.30 per cent fall was recorded by the Nigerian Exchange (NGX) Limited on Friday as a result of profit-taking in the industrial goods sector.
This was mainly caused by sell-offs in Dangote Cement Plc, which released its financial statements for the first quarter of 2025 yesterday.
The cement maker lost 10.00 per cent during the session to trade at N432.00, Regency Alliance lost 8.06 per cent to close at 57 Kobo, VFD Group depreciated by 7.57 per cent to N17.10, Chams declined by 7.27 per cent to N2.04, and Sovereign Trust Insurance crashed by 6.12 per cent to 92 Kobo.
Conversely, International Breweries, Legend Internet, and Ikeja Hotel gained 10.00 per cent each to sell for N7.70, N6.82, and N12.10 apiece, Vitafoam Nigeria surged by 9.93 per cent to N44.85, and Eterna rose by 9.92 per cent to N39.90.
The industrial goods index was down by 4.73 per cent on Friday, as the others finished in green territory.
The consumer goods space rose by 2.21 per cent, the banking sector appreciated by 1.55 per cent, the insurance counter expanded by 1.50 per cent, the energy sector increased by 0.07 per cent, and the commodity industry went up by 0.04 per cent.
At the close of transactions, the All-Share Index (ASI) went down by 321.21 points to 105,753.05 points from 106,074.26 points and the market capitalisation shrank by N202 billion to N66.465 trillion from N66.667 trillion.
The level of activity increased yesterday as the trading volume, value, and number of deals grew by 30.40 per cent, 94.23 per cent, and 17.64 per cent, respectively.
This was because investors transacted 428.1 million shares worth N20.2 billion in 14,284 deals compared with the 328.3 million shares valued at N10.4 billion in traded in 12,142 deals a day earlier.
GTCO led the activity chart with 60.7 million equities sold for N3.8 billion, Fidelity Bank traded 41.4 million stocks worth N829.3 million, Access Holdings exchanged 40.6 million shares valued at N968.3 million, MTN Nigeria sold 33.0 million equities for N8.2 billion, and Zenith Bank transacted 22.9 million stocks worth N1.1 billion.
By Adedapo Adesanya
The Naira extended its gains against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Friday, April 25 by 0.22 per cent or N3.59 to sell for N1,599.42/$1 compared with the N1,603.01/$1 it was traded in the previous session.
The Nigerian currency also improved its value against the Euro in the official market by N1.36 to close at N1,818.53/€1 compared with Thursday’s closing price of N1,819.89/€1.
However, the domestic currency depreciated against the Pound Sterling in the same market segment yesterday by N1.90 to wrap the session at N2,130.44/£1 versus the preceding session’s rate of N2,128.50/£1.
At the black market segment, the Naira appreciated against the greenback on Friday by N2 to quote at N1,605/$1, in contrast to the previous day’s value of N1,607/$1.
In the cryptocurrency market, a possible regulatory progress about digital assets in the US spurred buying interest among investors during the trading session.
The chairman of the US Securities and Exchange Commission, Mr Paul Atkins, was at a crypto roundtable on Friday and he devoted his inaugural speech to assuring the industry that he will continue to remake securities policy to favor digital assets innovation.
Litecoin (LTC) rose by 3.0 per cent to $87.24, Dogecoin (DOGE) grew by 2.7 per cent to $0.1862, Bitcoin (BTC) increased by 1.3 per cent to $94,687.84, Ethereum (ETH) jumped by 1.2 per cent to $1,797.51, Cardano (ADA) improved by 0.9 per cent to $0.7235, and Ripple (XRP) gained 0.6 per cent to close at $2.20.
On the flip side, Solana (SOL) depreciated by 0.9 per cent to $151.64, and Binance Coin (BNB) lost 0.8 per cent to sell for $602.89, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.
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