Bulls Reappear as Nigerian Bourse Gains +0.02% Driven by Consumer Goods Counters

April 7, 2021

By Evans Charles InvestAdvocate

Image Credit: oilprice.com

Lagos (INVESTADVOCATE)-The Nigerian equities market on Wednesday inched up  +0.02 percent to close at 38,774.03 basis points; boosted by the Consumer Goods sector.

Conversely, market breadth index was negative with 27 losers compared to 12 gainers., according to InvestmentOne market wrap for the review period.

InvestmentOne reports that Jaiz Bank Plc with a gain of +10 percent  emerged the topmost gainer, while Sterling Bank Plc with a loss of -9.47 percent led the losers chart.

Top tier lender, Zenith Bank Plc with a loss of -4.11 percent was the most actively traded stock with about 55.03 million units of shares worth about 1.16 billion.

In terms of sector performance, InvestmentOne reports the Nigerian Stock Exchange (NSE) Consumer Goods index increased by +1.88 percent on the back of positive sentiment in the shares of brewers, Guinness Nigeria Plc and International Breweries Plc; both appreciated +8.08 percent and +1.72 percent apiece, while soap and detergent producer, Unilever Nigeria Plc grew by +0.75 percent.

On the contrary, the report says the NSE Banking index plunged by 3.12 percent, on account of sell-offs in the shares of Sterling Bank Plc and Zenith Bank Plc; both declined -9.47 percent and -4.11 percent respectively, while Fidelity Bank Plc and Guaranty Trust Bank Plc plunged -3.47 percent and -3.28 percent each.

In the same vein, Union Bank of Nigeria Plc and Access Bank Plc both lost -2.97 percent and -2.47 percent respectively, while Africa’s global lender, the United Bank for Africa Plc and Wema Bank Plc both depreciated 2.00 percent and -0.71 percent each.

Also, the NSE Oil and Gas index lost 0.28 percent as a result of downtrend in the shares of Ardova Plc which dipped by -6.91 percent. the NSE Industrial index shed 0.14 percent, due to the loss recorded in the shares of cement manufacturer, Lafarge Cement Wapco Nigeria Plc which went down by -2.33 percent.

Performance of key stocks

S/N

 

Stock

 

Current Price (N)

 

1-day change (%)

 

Week to date change (%)

 

Year to date change (%)

 

1

 

ACCESS

 

7.90

 

-2.47%

 

-2.47%

 

-6.51%

 

2

 

DANGCEM

 

215.00

 

0.00%

 

0.00%

 

-12.21%

 

3

 

FBNH

 

7.25

 

-0.68%

 

0.00%

 

1.40%

 

4

 

FIDELITYBK

 

2.50

 

-3.47%

 

-3.10%

 

-0.79%

 

5

 

GUARANTY

 

28.00

 

-3.28%

 

-6.51%

 

-13.45%

 

6

 

MTNN

 

162.00

 

1.12%

 

1.12%

 

-4.65%

 

7

 

UBA

 

6.95

 

-0.71%

 

-1.42%

 

-19.65%

 

8

 

SEPLAT

 

550.00

 

0.00%

 

0.00%

 

36.71%

 

9

 

ZENITHBANK

 

21.00

 

-4.11%

 

-4.98%

 

-15.32%

 

10

 

OKOMUOIL

 

90.00

 

0.00%

 

0.00%

 

-1.10%

 

11

 

BUACEMENT

 

72.70

 

0.00%

 

-1.09%

 

-6.01%

 

12

 

AIRTELAFRI

 

930.00

 

0.00%

 

0.00%

 

9.18%

 

“The equities market closed up today due to the gains recorded in Consumer Goods sector. While we believe the risk-off sentiment on the back of uncertainty around oil price, as well as the impact of the Coronavirus, could continue to weigh in on the equities market, we opine that the equities market still presents decent opportunities for investors chasing positive real return on investments.” the InvestmentOne report added.

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