Nigeria Stock Exchange (NSE) All Share Index (ASI) started the week in red on Monday, largely due to the loses in the share prices of Stanbic IBTC Holdings Plc, Nigeria Brewery Plc, Bua Cement Plc, Ardova Plc among others..
Equity investors lost N38.02 billion with the ASI declining by 0.29% to close at 24,753.92 from 24,826.75 on Friday. The Market Capitalization dropped to N12.913 trillion from N12.951 on Friday.
124,688,442 units of shares worth N1,318,622,425.63 were traded in 3,843 deals on Monday.
Japaul Oil & Maritime Services Plc was the most traded stock by volume. 13,610,282 units of shares worth N3,303,505.88 exchanged hands in 55 deals.
Whereas the shares of Guaranty Trust Bank Plc was the most traded stock by value. 11,347,747 units of shares worth N260,464,933.45 was traded in 316 deals
All the Indices under our watch declined except for the Consumer Goods Index which appreciated by 2.13% to close at 441.96 largely due to the 7.72%% rise in the share price of Nestle Nigeria Plc.
Industrial Goods Index dipped by 1.50%, dragged by 9.09% and 2.27% losses in the share prices of Cutix Plc and Bua Cement Plc respectively.
Insurance Index, declined by 0.87% to close at 130.40 largely due to the loses recorded in the share prices of AIICO Insurance Plc, Law Union and rock Ins. Plc among others.
Banking Index declined by 0.60% to close at 289.07 mainly due to the 8.33% plunge in the share price of Stanbic IBTC holdings Plc.
Oil and Gas Index dropped by 0.53% to close at 207.54 mainly due to the 5.09% decline in the share price of Ardova Plc.
- Read also; Stock stories – AIICO Insurance Plc
- Nigerian Stock Market Review and Stock pick for the week ahead 22nd–26th June 2020
Investor sentiment was weak as only 11 equities advanced in prices while 26 declined in prices.
Top five gainers by percentage are: Japaul Oil & Maritime services Plc – N0.25 (8.70%), Nestle Nigeria Plc – N1,179.00 (7.72%), Fidson Healthcare Plc – N3.30 (7.49%), Sterling Bank Plc – N1.28 (6.67%), and Unity Bank Plc – N0.60 (5.26%)
Top five decliners by percentage are: Neimeth Int. Pharm. Plc – N1.39 (-9.74%), Cutix Plc – N1.60 (-9.09%), Stanbic IBTC Holdings Plc – N30.25 (-8.33%), Honeywell Flour Mill Plc – N0.99 (-8.33%) and Chams Plc – N0.23 (-8.00%)
Neimeth Int. Pharm. Plc has been on steady decline after reaching a peak of N2.57 on 11 June 2020. This is the sixth consecutive decline in the share price of the company. The current share price is N1.39 per share.
This implies that it has lost 45.91% of its value in 6 trading days.
Analysts’ view at Investogist; the impact of Covid-19 on the listed companies is expected to be reflected on the half year result. It is our view that Investors will continue to trade with caution as the second quarter of the year gradually draws to an end. We expect the depressed mood in the market to continue in the short and medium term.
Written by
Ifunanya Ikueze
