June 11, 2020
By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian equities market on Thursday inched down by -0.13 percent to close at 25,182.67 basis points, following negative sentiments across all sectors, according to InvestmentOne Reports
However, the market gained 0.67 percent week-to-date (WTD) and the close of today’s session, market breadth index was slightly negative with 17 losers compared to 16 gainers.
According to InvestmentOne, indigenous marine, aviation and logistics services firm, Caverton Offshore Support Group Plc with a loss of -10.00 percent emerged the worst loser, while Drug producer, Neimeth International Pharmaceutical Plc surged +9.83 percent to record the highest gain.
Nigeria’s tier one lender, Guaranty Trust Bank Plc which lost 0.82 percent was the most actively traded stock with about 81 million units of shares worth about N2.02 billion.
In terms of sector performance, the Nigerian Stock Exchange (NSE) Oil & Gas Index was down by 0.81 percent, due to the loss in the shares of oil marketing major, oando Plc by -8.33 percent.
In the same vein, the NSE Banking index fell by 0.28 percent, as a result of the sell-offs in the shares of Jaiz Bank Plc and Fidelity Bank Plc; both declined -3.03 percent and -1.07 percent apiece, while pan-African lender. Ecobank Transnational Incorporated and GTBank dropped -0.91 percent and -0.83 percent respectively.
The NSE Consumer Goods index dipped by 0.24 percent, due to the negative sentiments recorded in the shares of Honeywell Flour Mills Plc and beer producer, Nigerian Breweries Plc; both plunged -5.15 percent and -1.18 percent each.
While, the NSE Industrial index decreased by 0.19 percent, on the back of losses reported by cement manufacturer, Lafarge Cement Wapco Nigeria Plc by -2.16 percent.
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 6.80 | 0.74% | 2.26% |
2 | DANGCEM | 139.00 | 0.00% | 0.00% |
3 | FBNH | 5.35 | 0.00% | -0.93% |
4 | FIDELITYBK | 1.85 | -1.07% | 2.21% |
5 | GUARANTY | 24.00 | -0.83% | 0.42% |
6 | MTNN | 118.00 | 0.00% | 1.72% |
7 | UBA | 6.75 | -0.74% | 1.50% |
8 | SEPLAT | 476.40 | 0.00% | 0.00% |
9 | ZENITHBANK | 16.65 | 0.30% | -0.60% |
10 | OKOMUOIL | 67.00 | 0.00% | 4.69% |
Source: InvestmentOne Research
“The equities market closed down due to the negative sentiments in all sectors. 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.
