October 19, 2020
By Paschal IJEH InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian equities market on Monday opened the week flat as Benchmark index remained at 28,658.31 basis points, according to InvestmentOne report.
The report says at the close of the trading session on the floor of the Nigerian Stock Exchange (NSE), market breadth index was slightly positive with 19 gainers compared to 18 losers.
According to InvestmentOne, beer producer, International Breweries Plc with a gain of +9.94 percent led the gainer’s chart, while oil services firm, Eterna Plc with a loss -8.98 percent emerged the worst loser.
The report says top tier lender, Zenith Bank Plc with a loss of -2.55 percent was the most actively traded stock with about 43 million units of shares worth about N905 million.
In terms of sector performance, the NSE Oil & Gas index rose by 0.54 percent, due to the uptrend in the shares of oil marketing majors Conoil Plc, Ardova Plc and Japaul Oil & Maritime Services Plc all appreciated +9.72 percent, +5.83 percent and +5.00 percent respectively.
Similarly, the NSE Consumer Goods index advanced by 0.38 percent, as a result of the buy-interests in the shares of brewers International Breweries Plc and Guinness Nigeria Plc; gained +9.94 percent and +4.75 percent apiece, while Flour Mills of Nigeria Plc and manufacturer of foam furniture and furnishings, Vitafoam Nigeria Plc; rose +1.62 percent and +0.82 percent each.
On the flip-side, the NSE Banking index was down by 0.34 percent, as a result of sell-offs in the shares of Zenith Bank Plc, Sterling Bank Plc and Werma Bank Plc; the trio depreciated, -2.55 percent, -2.17 percent and -1.69 percent respectively, also FBN Holdings Plc and Africa’s global lender, the United Bank for Africa Plc dipped -1.56 percent and-1.39 percent apiece.
“NSE Industrial index decreased by 0.14 percent, on the back of losses in the shares of cement producer, Lafarge Cement WAPCO Nigeria Plc which dropped by -1.86 percent,” the InvestmentOne report said.
Performance of key stocks
S/N
| Stock
| Current Price (N)
| 1-day change (%)
| Week to date change (%)
|
1
| ACCESS
| 7.95
| 0.00%
| 0.00%
|
2
| DANGCEM
| 150.00
| 0.00%
| 0.00%
|
3
| FBNH
| 6.30
| -1.56%
| -1.56%
|
4
| FIDELITYBK
| 2.06
| -0.96%
| -0.96%
|
5
| GUARANTY
| 30.80
| 1.48%
| 1.48%
|
6
| MTNN
| 140.00
| 0.00%
| 0.00%
|
7
| UBA
| 7.10
| -1.39%
| -1.39%
|
8
| SEPLAT
| 420.00
| 0.00%
| 0.00%
|
9
| ZENITHBANK
| 21.00
| -2.55%
| -2.55%
|
10
| OKOMUOIL
| 80.00
| 0.00%
| 0.00%
|
Source: InvestmentOne Research
“The equities market closed flat today. While we believe the risk-off sentiment on the back of weak oil price as well as the impact of the Coronavirus could continue to weigh in on the equities market, we opine that equities market still presents decent opportunities for investors chasing positive real return on investments,” the report added.
