Equity Market opened the week on the negative note, as the Nigeria stock Exchange (NSE) All Share Index (ASI) declined by 0.44% to 24,200.60 from 24,306.36 on Friday.
Investors’ portfolio depleted in value largely due to the loss in the share prices of Mobil (-9.97%), Zenith Bank (-2.99%) and Guaranty (-2.00%) among others.
Equity Investors lost N55.170 billion as the Market Capitalization decreased to N12.624 trillion from N12.680 trillion recorded on Friday.
The volume and value of shares traded increased on Monday by 75.67% and 139.55% respectively. The number of deals grew by 29.76% compared to Friday values.
899,490,969.04 units of shares valued at N2,154,759,061.89 exchanged hands in 3,950 deals, compared to 131,630,651 units of shares worth N899,490,969.04 traded in 3,044 deals on Friday.
The shares of Sterling Bank Plc was the most traded by volume. 77,546,295 units of shares valued at N96,765,368.56 exchanged hands in 420 deals.
In terms of value, the most traded was shares of MTNN. 9,732,133 units of the company shares worth N1,124,643,228.20 were traded in 84 deals.
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Two of the indices under our watch advanced. The Industrial Goods Index returned to its upward trend after closing flat on Friday to break its 3 days of gain in a row. The Index rose by 0.26% to close at 1,097.11 on Monday, while the Consumer Goods Index grew by 0.08% to close at 413.75. The Index broke its seven consecutive days of loses on Friday.
The Banking Index recorded its second day of loss after breaking the five days gaining streak on Friday. The Index declined by 1.70% to close at 278.38 due to loses in Zenith, Guaranty, ETI among others.
Insurance Index, declined by 0.35% for the second consecutive day to close at 125.25 due to loses in the share prices of Wapic, Lawunion and Custodian.
Oil and Gas Index returned to loss on Monday, after closing flat on Friday to break its five straight days of decline. The Index dipped by 1.91% to close at 191.17, dragged mainly by 9.97%% loss in the share price of Mobil.
Investor sentiment was weak on Monday at 0.82x down from 1.4x recorded on Friday, as only 14 stocks advanced while 17 declined whereas 13 stocks advanced while 9 declined on Friday
Top five gainers by percentage with the closing prices are; NPFMCRFBK (10.00%; N1.32), Neimeth (9.35%; N1.52%), Linkassure (8.51%; N0.51), ABCTrans (7.84%; N0.55), and Caverton (7.73%; N1.95).
Top five decliners by percentage are; Mobil (-9.97%; N173.40), Chams (-8.33%; N0.22), Eterna (-6.70%; N2.09), Wapic (-5.71%; N0.33) and Transcorp (-4.62%; N0.62).
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
