July 2, 2020
By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian equities market on Thursday closed down, as all-share index (ASI) lost 0.90 percent to close at 24,374.40 basis points; following negative sentiments in all sectors.
InvestmentOne reports that at the close of trade on the floor of the Nigerian Stock Exchange (NSE), market breadth index was broadly negative with 26 losers compared to 7 gainers.
According to the report, Capital Hotel Plc with a loss of -10.00 percent emerged the worst losers, while Drugmaker, Neimeth International Pharmaceutical topped the gainers chart with a gain of +9.40 percent.
Africa’s global lender, United Bank for Africa Plc with a loss of -0.81 was the most actively traded stock with about 24 million units of shares worth about N153 million.
In terms of sector performance, the NSE Banking index fell by 4.58 percent, as a result of the sell-offs in Sterling Bank Plc and First City Monument Bank; both depreciated -9.49 percent and -6.88 percent apiece, while Zenith Bank Plc and Guaranty Trust Bank Plc plunged -5.73 percent and -5.26 percent respectively, Ecobank Transnational Incorporated lost by -3.03 percent.
The NSE Consumer Goods index declined by 0.93 percent, due to the negative sentiments recorded in the shares of soap and detergent producer, Unilever Nigeria Plc which dipped -9.80 percent, food and beverage giant, Cadbury Nigeria Plc also lost by -8.78 percent, Flour Mills Nigeria Plc and PZ Cussons Nigeria Plc dropped -5.36 percent and -2.44 percent each; while brewer, International Breweries Plc dipped by -1.25 percent.
In the same vein, InvestmentOne reports the NSE Oil & Gas index shed 0.30 percent, as a result of the decline in the shares of oil marketing major, Oando Plc which lost by -3.36 percent. “NSE Industrial index was down by 0.02 percent, due to the losses recorded in the shares of cement manufacturer, Lafarge Cement Wapco Nigeria Plc by -0.80 percent,” the report said.
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 6.50 | -1.52% | -1.52% |
2 | DANGCEM | 127.00 | 0.00% | -0.78% |
3 | FBNH | 5.10 | -1.92% | -1.92% |
4 | FIDELITYBK | 1.65 | -2.94% | -7.30% |
5 | GUARANTY | 20.70 | -5.26% | -8.81% |
6 | MTNN | 116.00 | 0.00% | -1.28% |
7 | UBA | 6.15 | -0.81% | -3.91% |
8 | SEPLAT | 386.00 | 0.00% | 0.00% |
9 | ZENITHBANK | 14.80 | -5.73% | -8.64% |
10 | OKOMUOIL | 77.40 | 0.00% | 20.94% |
Source: InvestmentOne Research
“The equities market closed down due to the negative sentiments across all major 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 added.
