June 17, 2020
By Paschal IJEH InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian equities market on Wednesday closed positive as benchmark index gained by 0.17 percent to close at 24,972.89 basis, boosted by the Consumer Goods sector.
InvestmentOne reports at end of the session’s trading, market breadth index was negative with 24 losers compared to 10 gainers.
Food and beverage giant, Nestle Nigeria Plc (NESTLE) with a gain of +10.00 percent led the gainer’s chart while first dual listed Nigerian oil and gas upstream firm, Seplat Petroleum Development Company (SEPLAT) with a loss of -9.99 percent emerged the worst loser.
According to the report, Nigeria’s tier one lender, Guaranty Trust Bank Plc (GUARANTY) with a loss of -2.54 percent was the most actively traded stock with about 44 million units of shares worth about N1.03 million.
In terms of sector performance, the Nigerian Stock Exchange (NSE) Oil & Gas index was down by 4.37 percent, due to the losses in the shares of SEPLAT and Japaul Oil & Maritime Plc; both declined -9.99 percent and -8.00 percent respectively.
In the same vein, NSE Banking index fell by 0.79 percent, as a result of sell-offs in the shares of Unity Bank Plc and GUARANTY; both plunged -3.51 percent and -2.54 percent apiece, FBN Holdings Plc and Fidelity Bank Plc lost by -1.94 percent and -1.69 percent each.
On the positive side, the NSE Consumer Goods index rose by 4.19 percent, due to the positive sentiments in NESTLE and peer, Cadbury Nigeria Plc; the duo gained +10.00 percent and +6.67 percent respectively, while Flour Mills of Nigeria Plc appreciated +4.35 percent. “NSE Industrial index closed Flat,” the report affirmed.
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 6.85 | 1.48% | 0.74% |
2 | DANGCEM | 139.00 | 0.00% | 0.00% |
3 | FBNH | 5.05 | -1.94% | -5.61% |
4 | FIDELITYBK | 1.75 | -1.69% | -5.41% |
5 | GUARANTY | 23.00 | -2.54% | -4.17% |
6 | MTNN | 115.00 | 0.00% | -2.54% |
7 | UBA | 6.40 | -0.78% | -5.19% |
8 | SEPLAT | 428.80 | -9.99% | -9.99% |
9 | ZENITHBANK | 16.15 | 0.31% | -3.00% |
10 | OKOMUOIL | 67.00 | 0.00% | 0.00% |
Source: InvestmentOne Report
“The equities market closed up due to the positive sentiments in Consumer names. 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 added.
