June 16, 2020
By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian equities market on Tuesday lost by -0.09 percent to close at 24,930.88 basis points, according to InvestmentOne report.
The update says in the session’s trade, market breadth index was negative with 22 losers compared to 13 gainers.
Pharmaceutical firm, Neimeth International Pharmaceuticals Plc with a loss of -9.91 percent recorded the worst decline; while its peer, Fidson Healthcare Plc emerged the topmost gainer with a gain of +10.00 percent.
FBN Holdings Plc with a loss of -1.90 percent was the most actively traded stock with about 27 million units of shares worth about N140 million.
In terms of sector performance, the Nigerian Stock Exchange (NSE) Oil & Gas index was down by -0.57 percent due to the losses in ARDOVA Plc (foremrly Forte Oil Plc) which plunged -4.51 percent and Oando Plc asls dropped by -2.78 percent.
The NSE Consumer Goods index declined by -0.24 percent, due to the negative sentiments in the shares of Flour Mills of Nigeria Plc and Guinness Nigeria Plc; both depreciated -6.68 percent and -0.28 percent apiece.
In the same vein, the NSE Banking index fell by 0.11 percent, as a result of the sell-offs in the shares of lenders Unity Bank Plc and FBN Holdings; both dipped -8.06 percent and -1.90 percent respectively, while Jaiz Bank Plc and Fidelity Bank Plc dropped -1.45 percent and -1.11 percent each, Zenith Bank Plc lost by -0.62 percent.
On the positive side, the NSE Industrial index increased by +1.03 percent, on the back of gains in the shares of cement producer, Bua Cement Plc which appreciated by +1.60 percent.
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 6.75 | 0.00% | -0.74% |
2 | DANGCEM | 139.00 | 0.00% | 0.00% |
3 | FBNH | 5.15 | -1.90% | -3.74% |
4 | FIDELITYBK | 1.78 | -1.11% | -3.78% |
5 | GUARANTY | 23.60 | 0.00% | -1.67% |
6 | MTNN | 115.00 | -0.86% | -2.54% |
7 | UBA | 6.45 | 0.78% | -4.44% |
8 | SEPLAT | 476.40 | 0.00% | 0.00% |
9 | ZENITHBANK | 16.10 | -0.62% | -3.30% |
10 | OKOMUOIL | 67.00 | 0.00% | 0.00% |
Source: InvestmentOne Research
“The equities market closed down due to the negative sentiments in most 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 report affirmed.
