Nigerian Stocks Dip -0.17%, Dragged by MTNN, Industrial Sector

L – R shows Mr. Dave Uduanu, Chief Executive Officer, Sigma Pension Limited; Mrs. Hilda Nkor, Chief Executive Officer, Society for Corporate Governance, Nigeria; Mr. Bode Ayeku, Company Secretary/Legal Adviser, Nestlė Nigeria Plc; Ms. Tinuade Awe, Executive Director, Regulation, The Nigerian Stock Exchange (NSE); Mr. Nornah Awoh, Chief Equity Analyst/CEO, Palesa Capital Markets Associates Limited; Mr. Godstime Iwenekhai, Head of Department, Listings Regulation, NSE and Olugbenga Bello, Partner, Folashade Alli and Associates during Issuers Engagement Forum at the Exchange today in Lagos.

December 3, 2019/InvestmentOne Report

The Nigerian equities market closed negative today as NSE-ASI fell by 0.17% to close at 26,944.32pts.

Similarly, in today’s trade, market breadth index was negative with 19 losers against 13 gainers.

IKEJAHOTEL (-9.73%) led the losers’ chat while OKOMUOIL (+9.87%) was the top gainer today.                                                                                                 

ACCESS (+1.09%)  was the most actively traded stock with about 35million units of shares worth about 326million. 

Sector Performance 

·         NSE Industrial Index: Lost 0.25%, as a result of the sell-off in WAPCO (-1.07%).

·         NSE Banking Index: Rose  by 0.38%, due to the gains in JAIZBANK (+4.55%), ACCESS (+1.09%), ZENITHBANK (+1.08%) and UBA (+0.71%).

·         NSE Consumer Goods Index: Closed up by 0.05%, on the back of the surges in UNILEVER (+4.24%) and FLOURMILL (+4.11%).

·         NSE Oil & Gas Index: Closed flat. 

Performance of key stocks 

S/N

Stock

Current Price (N)

1-day change (%)

Week to date change (%)

1

ACCESS

9.30

1.09%

0.54%

2

DANGCEM

143.00

0.00%

0.14%

3

FBNH

6.70

0.00%

0.00%

4

FIDELITYBK

2.01

-3.83%

-1.95%

5

GUARANTY

30.30

0.00%

-0.49%

6

MTNN

119.00

-0.83%

-0.83%

7

UBA

7.05

0.71%

0.00%

8

SEPLAT

549.70

0.00%

0.00%

9

ZENITHBANK

18.80

1.08%

1.08%

10

OKOMUOIL

54.55

9.87%

9.87%

 The equities market closed down today as result of the loss recorded in Industrial sector and MTNN. We still maintain our view that investors should take positions in quality names with a medium to long time investment horizon as prices remain attractive at current levels.

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