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

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    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

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    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

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    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

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

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    NGX suspends trading in the shares of four listed companies

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    NGX RegCo suspends Trading of Oando Plc shares

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    How Donald Trump won the 2024 U.S Presidential Election

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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

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Equity Market maintains upward trend as Investors gained N94.205 billion

Thursday, 9 July 2020, 1:46 am
in Markets, Stocks/Equities
0
Lafarge Africa Plc announces closed period for H1 Financial statements
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Equity market maintained upward trend on Wednesday as investors gained N94.205 billion on the Floor of the Nigerian Stock Exchange, due to the gains in the share prices of Lafarge (+10.00%), JBerger(+9.90%), Guaranty, (+6.89%) among others.

The All Share Index (ASI) rose by 0.75% to close at 24,278.07 from 24,097.48 on Tuesday, with the Market Capitalization rising to N12.665 trillion on Wednesday from N12.571 trillion the previous day.

The volume and value of shares traded increased significantly on Wednesday by 49.56% and 80.65% respectively, whereas the number deals declined by 13.23% compared to Tuesday values.

232,609,049 units of shares valued at N4,698,272,125.17 exchanged hands in 3,523 deals on Wednesday, compared to 155,529,293 units of shares worth N2,600,805,915.79 traded in 4,060 deals on Tuesday.

The shares of Fidelity was the most traded by volume, with 37,950,489 units of shares valued at N67,224,999.79 exchanging hands in 96 deals.

In terms of value, the shares of MTNN took the lead again, with 27,969,987 units of shares worth N3,217,773,697.20 traded in 146 deals.

  • Have you read?
  • NSE Lists 13 defaulting companies, warns Investors to trade with caution
  • AFRIPRUD and Ikeja Hotel Plc give notice of Board Meeting for H1 Financial Result

Three of the indices under our watch advanced. The Banking Index rose by 3.41% to close at 283.44 due to combined gains in the FUGAZ, FCMB, Fidelity among others. This is fourth consecutive rise in the Index.

Insurance Index, grew by 1.10% to close at 125.68 mainly due to 9.30% rise in the share price of Linkassure, 9.09% increase in Regallins and 8.51% growth in share price of Prestige among others.

The Industrial Goods Index grew for the second consecutive day. The Index rose by 0.12% to close at 1,094.11, while the Consumer Goods Index recorded its third consecutive decline. It dropped by 0.21% to close at 414.11.

Oil and Gas Index recorded its fourth consecutive decline. The Index dropped by 0.18% to close at 195.75, dragged by 4.40% and 2.17% loss in the share prices of Caverton and Oando respectively.

Investor sentiment was strong at 3.14x compared to 0.94x on Tuesday. 25 equities advanced in prices while 8 declined on Wednesday compared to 17 equities which advanced on Tuesday with 18 declining.

Top five gainers by percentage with the closing prices are; Lafarge/Wapco (10.00%; N11.00), JBerger (9.90%; N17.20), Linkassure (9.30%; N0.47), Regalins (9.09%; N0.24) and Redstarex (8.90%;N3.55)

Top five decliners by percentage are; Berger (-9.63%; N6.10), Caverton (-4.40%;N1.74), ETI (-4.17%; N4.60), Flourmill (-2.70%; N18.00) and Oando (-2.17%; N2.25)

  • Read more;
  • Federal Schools will not Reopen even for WAEC – FG
  • Lafarge Africa Plc announces closed period for H1 Financial statements

Analysts’ view at Investogist; Despite the upward movement on Wednesday, 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 including Bua Cement, Mobil (11 Plc), Dangote, Lafarge, Seplat, Guaranty, Zenith among others has announced closed period for H1 financial statements.

Written by;

Ifunanya Ikueze

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