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.
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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)
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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.