Nigerian Stocks Shed -0.10% Dragged by MTNN, Sectoral Losses

May 4, 2021

By Evans CHARLES InvestAdvocate

Nigerian Stock Exchange Trading Floor. Image credit: NSE

Lagos (INVESTADVOCATE)-The Nigerian equities market on Tuesday closed negative  as NGX-ASI shed 0.10 percent to close at 39,879.87 basis points dragged by telecom giant MTN Nigeria Communications Plc and losses in most sectors.

InvestmentOne reports that conversely, market breadth index was positive with 24 gainers compared to 17 losers.

Insurer, Regency Alliance Insurance Company Plc  (REGALINS) with a loss of -9.09 percent emerged the worst loser, while  its peer LASACO Assurance Plc with a gain of +9.86 percent  was the topmost gainer.

Financial HoldCo, FBN Holdings Plc with a gain of +7.25 was the most actively traded stock with about 79.60 million units of shares worth about N574.98 million.

In terms of sector performances, the Nigerian Exchange Group (NGX) Oil and Gas Goods index lost by 0.74 percent due to the sell-offs in the shares of oil marketing major, Oando Plc which depreciated by -2.55 percent.  

In the same vein, the NGX Industrial index declined by 0.57 percent due to negative sentiment in the shares of cement producer, Lafarge Cement Wapco Nigeria Plc which lost by  -5.20 percent.

According to InvestmentOne, the NGX Banking index shed 0.32 percent on the back of downtrends in the shares of lenders, Unity Bank Plc and Strerling Bank Plc; both dipped  -8.82 percent and -7.50 percent respectively, while Africa’s global bank, the Unted Bank for Africa Plc and Zenith International Bank Plc depreciated -1.37 percent and -1.12 percent apiece. 

On the positive side, the NGX Consumer index gained 0.76 percent as a result of buy-interest in the shares of beer producer, International Breweries Plc which gained by +9.62 percent, while soap and detergent manufacturers, PZ Cussons Nigeria Plcand Unilever Nigeria Plc which appreciated +6.00 percent and +4.28 percent each. 

 

Performance of key stocks 

 

S/N

 

Stock

 

Current Price (N)

 

1-day change (%)

 

Week to date change (%)

 

Year to date change (%)

 

1

 

ACCESS

 

7.45

 

2.05%

 

2.05%

 

-11.83%

 

2

 

DANGCEM

 

217.00

 

0.00%

 

0.00%

 

-11.39%

 

3

 

FBNH

 

7.40

 

7.25%

 

7.25%

 

3.50%

 

4

 

FIDELITYBK

 

2.25

 

0.00%

 

0.00%

 

-10.71%

 

5

 

GUARANTY

 

30.10

 

0.00%

 

0.00%

 

-6.96%

 

6

 

MTNN

 

174.00

 

-0.51%

 

-0.51%

 

2.41%

 

7

 

UBA

 

7.20

 

-1.37%

 

-1.37%

 

-16.76%

 

8

 

SEPLAT

 

570.00

 

0.00%

 

0.00%

 

41.69%

 

9

 

ZENITHBANK

 

22.00

 

-1.12%

 

-1.12%

 

-11.29%

 

10

 

OKOMUOIL

 

103.00

 

3.00%

 

3.00%

 

13.19%

 

11

 

BUACEMENT

 

77.90

 

0.00%

 

0.00%

 

0.71%

 

12

 

AIRTELAFRI

 

930.00

 

0.00%

 

0.00%

 

9.18%

 

Source: InvestmentOne Research

“The equities market closed down today due to losses in most sectors and MTNN. 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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