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    Israel and Iran agree on ceasefire – Trump

    Israel and Iran agree on ceasefire – Trump

    Breaking: Iran launches missiles at US bases in the Middle East

    Breaking: Iran launches missiles at US bases in the Middle East

    US military strikes Iran

    US military strikes Iran

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    Yahoo boys launder money for ‘politically exposed persons’ – EFCC boss

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    Gombe receives N60 billion from FG to establish Agro-Livestock Industrial Zone

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    Trump bans citizens of 12 countries from entering the U.S, full list

    France launches mandatory online visa appointments for travelers

    France launches mandatory online visa appointments for travelers

    Federal Government declares June 6 and 9 public holidays

    Federal Government declares June 6 and 9 public holidays

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    • Africa
    • World
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    • All
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    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

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    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

    Air Sierra Leone commences flight operations to Lagos

    Air Sierra Leone commences flight operations to Lagos

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    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

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    List of Dividends announced in 2025, qualification and payment dates

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    Legend Internet Plc reports N32.9 million profit for Q1 2025

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    ELECTION: Cutix Plc reschedules Board Meeting

    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

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    Bitcoin (BTC) rises above US$90,000 records a new all time high

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    Alhaji Dahiru Mangal sold his 1.96bn Oando Shares for N11.81bn

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    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

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Equity Investors lost N44.87 as sell off persist on Banking stocks

Wednesday, 15 July 2020, 1:35 am
in Markets, Stocks/Equities
0
Nigerian Stock Market Review and Stock pick for the week ahead 28th June – 3rd July 2020
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The loss investors suffered at the equity market on Monday extended into Tuesday, with Nigerian Stock Exchange (NSE) All Share Index (ASI) declining further by 0.36% to close at 24,114.59 from 24,200.60 on Monday.

Investors’ portfolios were negatively impacted to the tune of minus N44.87 billion due to sell offs in the shares of FUGAZ, Glaxosmith, among others.

The Market Capitalization decreased to N12.58 trillion on Tuesday from N12.624 on Monday.

The shares of Sterling Bank Plc was the most traded by volume for the second day in a row. 78,917,069 units of shares valued at N98,648,210.70 exchanged hands in 439 deals.

In terms of value, the most traded was shares of Guaranty. 10,403,330 units worth N222,916,163.75 were traded in 379 deals.

  • Have you read?
  • Nigerian Stock Market Review and Stock pick for the week ahead 13th July – 18th July 2020

Three of the indices under our watch advanced. The Industrial Goods Index recorded second consecutive rise as a result of slight increase in the share price Bua Cement. The Index rose by 0.25% to close at 1,099.89, while the Consumer Goods Index grew by 0.44% to close at 415.56, due to 9.64% rise in the share price of Unilever.

Insurance Index reversed its downward trend by 0.14% rise to close 125.43 after two consecutive days of decline due gains in the share prices of NEM and Regalins.

The Banking Index recorded its third day of loss. The Index dropped by 2.80% to close at 270.59 due to sell offs in the FUGAZ among others

Oil and Gas Index maintained its trend on the declining path for the second day. The Index dropped by 0.42% to close at 190.36 mainly due to the ex-dividend price adjustment of the share price of Conoil.

Investor sentiment weakened further on Tuesday to 0.53x from 0.82x recorded on Monday, as only 8 stocks advanced with 15 declining compared to 14 stocks which advanced on Monday while 17 declined.

Top five gainers by percentage with the closing prices are; Unilever (9.64%; N13.65), Chams (4.55%; N0.23), Regalins (4.55%; N0.23), Japauloil (4.17%; N0.25), and Jaizbank (3.70%; N0.56).

Top five decliners by percentage are; Arbico (-9.94%; N1.54), Glaxosmith (-9.38%; N4.35), ABCtrans (-9.09%; N0.50), Sterlnbnk (-4.72%; N1.21), and Afriprud (-4.24%; N4.07)

  • Read more; UK bans Huawei from its 5G Networks

Analysts’ view at Investogist; We still maintain our negative outlook to the market in the short and medium term. The impact of Covid-19 on the listed companies is expected to reflect on the first half financial reports.

Several companies have announced closed period for H1 financial statements. including Nestle, Mansard, Nahco, Caverton, Flourmills, Stanbic, Bua Cement, Mobil (11 Plc), Dangote, Lafarge, Seplat, Guaranty, Zenith among others.

Written by;

Ifunanya Ikueze

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