The Nigeria Stock Exchange (NSE) All Share Index (ASI) was forced to close in green territory on Monday despite sell pressure in the Unilever Nigeria Plc and Ardova Plc, thus extending Friday’s gain.
The ASI closed 0.12% up largely due to the gain in the share prices of Nestle Nigeria Plc and Okomu Oil Palm Plc. The ASI rose to 24,858.89 on Monday up from 24,829.02 on Friday.
Equity investors gained N15.579 billion on Monday as the market capitalization grew to N12.968 trillion from N12.952 trillion on Friday.
The share price of Nestle Nigeria Plc advanced by 4.73% (N56.80) to close at N1,256.8 on Monday from N1,200 on Friday whereas Okomuoil increased by 10% to close at N70.40 per share.
158,719,415.00 units of shares worth N1,635,598,021.63 were traded in 3,940 deals on Wednesday.
The shares of Guaranty Trust Bank Plc, was the most traded by volume and value. 17,831,822 units of shares worth N401,072,670.00 were traded in 244 deals.
Three Indices under our watch declined while two appreciated. Consumer Goods Index grew by 1.86% to close at 440.93 thanks to 4.73% rise in the share price of Nestle Nigeria Plc.
Insurance Index, rose by 0.23% to close at 129.77 due to increase in the share prices of Regalins (10.00%), Prestige (8.51%), NEM (3.00%), Mbenefit (4.55%).
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Oil and Gas Index suffered a 0.62% decline to close at 197.32, courtesy of 9.96% slump in Ardova share price and 9.68% drop in the share price of Eterna.
Banking Index dipped by 1.24% to close at 285.73 due to combined losses in UBA, ETI, Guaranty, among others, while Industrial Goods Index declined by 0.14% to close at 1,193.37.
Investor sentiment was low at 0.62X as only 18 equities advanced in prices while 29 declined.
Top five gainers by percentage with the closing prices are Okomuoil (10.00%; N70.40), Cutix (10.00%; N1.76), Regalins (10.00%; N0.22), Neimeth (9.49%; N1.50), and Wapic (9.38%; N0.35).
Top five decliners are by percentage are; Unilever (-10.00%; N15,30), Ardova (-9.96%; N11.75), Chellaram (-9.71%; N2.51), Eterna (-9.68%; N2.24), and Deapcap (-9.09%; N0.30).
Analysts’ view at Investogist; the impact of Covid-19 on the listed companies is expected to reflect on the half year financial reports. It is our view that Investors will continue to trade with caution as the first half of the year draws to an end while waiting for the release of companies financial statements.