June 2, 2020
By Paschal IJEH InvestAdvocate
Lagos (INVESTADVOCATE)- The Nigerian equities market on Tuesday closed positive as the NSEASI gained +0.27 percent to close at 25,383.43 basis points; boosted by activities in Nigeria’s most capitalised listed company and cement producer, Dangote Cement Plc.
InvestmentOne reports at the end of the trading session on the Nigerian Stock Exchange (NSE) market breadth index was slightly positive with 20 gainers compared to 18 losers.
Pharmaceutical firm, Neimeth International Pharmaceuticals Plc with a gain of +9.84 percent led the gainer’s chart while, insurer, Prestige Assurance Plc with a loss of -10.00 percent emerged the worst loser.
According to the report, beer producer, Nigerian Breweries Plc was the most actively traded stock with about 50million units of shares worth about N2.22billion.
In terms of sector performance, InvestmentOne reports the NSE Industrial index gained 0.20 percent due to the buy-interest in the shares of Dangote Cement Plc which gained +1.44 percent.
On the contrary, the NSE Consumer Goods index fell by 0.13 percent, due to the negative sentiments in the shares of brewer, Champion Breweries Plc and soap and detergent manufacturer, PZ Cussons Nigeria Plc; both declined -9.09 percent and -3.64 percent each, while sugar refiner, Dangote Sugar Refinery Plc and Honeywell Flour Mills Plc; both dipped -0.71 percent and -1.00 percent respectively.
In the same vein, the NSE Banking index decreased by 0.09 percent, as a result of the sell-offs in the shares of Union Bank of Nigeria Plc and Jaiz Bank Plc; both depreciated –8.21 percent and -4.41 percent apiece, while Sterling Bank Plc and First City Monument Bank dropped by –3.62 percent and -3.33 percent each, and Access Bank Plc lost -1.39 percent. The NSE Oil & Gas index closed Flat.
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 7.10 | -1.39% | 0.00% |
2 | DANGCEM | 141.00 | 1.44% | 1.44% |
3 | FBNH | 5.45 | 0.00% | 1.87% |
4 | FIDELITYBK | 1.88 | -1.05% | 0.00% |
5 | GUARANTY | 25.10 | 2.24% | 4.58% |
6 | MTNN | 116.50 | 0.43% | 0.43% |
7 | UBA | 6.80 | 0.74% | 2.26% |
8 | SEPLAT | 476.40 | 0.00% | 0.00% |
9 | ZENITHBANK | 17.10 | 0.29% | 1.18% |
10 | OKOMUOIL | 64.00 | 0.00% | 0.00% |
Source: InvestmentOne Research
“The equities market closed up due to the positive sentiment in DANGCEM. While we believe the risk-off sentiment on the back of weak oil price as well as the impact of Coronavirus could continue to weigh in on equities market, we opine that this may be one of the best periods to start picking some of the quality names with a medium to long term investment horizon,” the InvestmentOne report added.
