Nigeria Stock Exchange (NSE) All Share Index (ASI) returned to negative zone on Thursday after the forced gain on Wednesday.
Equity investors lost N20.56 billion with the ASI declining by 0.16% to close at 24,933.41 from 24,972.89 on Wednesday. The Market Capitalization dropped to N13.007 trillion from N13.027 Wednesday.
The activity level was low on Thursday compared to the previous trading day. 171,208,471 units of shares worth N2,210,693,302.89 exchanged in 3,315 deals.
The volume and value traded were significantly low as both decline by 35.63% and 18.39% respectively compared to 265,964,169 units of shares worth N2,708,736,566.85 were traded in 3,564 deals on Wednesday.
The shares of FCMB Group was the most traded by volume as 32,360,523 units of shares worth N55,664,928.64 were traded in 265 deals 41 deals while the of Guaranty Trust Bank Plc was the most traded by value with 29,396,809 unit of share valued at N707,906,610.05 exchanged hands in 272 deals.
Two of the Indices under our watch declined while two appreciated. Consumer Goods Index dipped by 1.83% to close at 433.78 largely due to the 9.52% decline in the share price of Nigeria Brew. Plc
Banking Index declined by 0.05% as the losses suffered by Jaiz Bank Plc, Unity Bank Plc, and Access Bank Plc share prices outweighed the gain in FBNH and Guaranty Trust Bank Plc share prices.
Oil and Gas Index rose slightly by 0.43% to close at 208.75 due to the 4.08% gain in the share price of OANDO Plc.
Insurance Index, rose by 1.21% to close at 131.72, largely due to the upward reversal of AIICO share price after 3 consecutive days of decline, while Industrial Goods Index remained unchanged at 1,188.01 for the second consecutive day
Read more; Stock stories – AIICO Insurance Plc
Only 9 equities advanced in prices while 10 declined in prices.
Top five gainers by percentage are C&I Leasing Plc (9.52%), AIICO Insurance Plc (8.99%), Mutual Benefit Assurance Plc, (4.76%) Oando Plc (4.08%) and May & Baker Nigeria Plc (1.35%).
Top five decliners by percentage are; Fidson Healthcare Plc (9.71%), Neimeth Int. Pharm. Plc (9.52%), Nigeria Brew. Plc (9.52%), Jaiz Bank Plc (8.96%) and NPF Microfinance Bank Plc (7.28%).
Neimeth Int. Pharm. Plc has been on steady decline after reaching a peak of N2.57 on 11 June 2020. The current share price is N1.71 per share.
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Analysts’ view at Investogist; the impact of Covid-19 on the listed companies is expected to be reflected on the half year result. It is our view that Investors will continue to trade with caution as the second quarter of the year gradually draws to an end. We expect the depressed mood in the market to continue in the short and medium term.
Written by
Ifunanya Ikueze
