Sell-Off on DANGCEM Drags Nigerian Bourse Down -2.26%

Nigerian Stock Exchange Trading Floor. Image Credit: NGX

August 9, 2022/InvestmentOne Report

The Nigerian equities market closed negative by 2.26% as the NGX-ASI settled at 49,350.71pts.

In today’s trade, market breadth index was negative with 16 losers against 12 gainers. 

PRESTIGE (+10.00%) was the top gainer, while CORNERST (-9.33%) led the losers today.

JAPAULGOLD (-8.11%) was the most actively traded stock with about 23million units of shares worth about N9million. 

Sector Performances

·         NGX Industrial Index: Fell by 4.83%, on the back of the sell-off seen in DANGCEM (-9.06%).

·         NGX Consumer Goods Index: Decreased by 0.29%, due to the losses recorded in CHAMPION (-6.25%), INTBREW (-4.76%) and HONYFLOUR (-4.75%).

·         NGX Oil and Gas Index: Declined by 0.27%, as a result of the loss printed in OANDO (-1.80%).

·         NGX Banking Index: Increased by 0.60%, due to the gain seen in ETI (+7.07%).

Performance of key stocks

S/N

Stock

Current Price (N)

1-day change (%)

Week to date change (%)

Year to date change (%)

1

ACCESSCORP

9.00

0.00%

0.00%

-3.23%

2

FBNH

10.80

0.00%

-1.37%

-5.26%

3

FIDELITYBK

3.00

0.00%

0.00%

17.65%

4

GTCO

20.55

0.24%

-0.24%

-20.96%

5

UBA

7.20

-0.69%

-0.69%

-10.56%

6

ZENITHBANK

21.25

0.00%

-2.97%

-15.51%

7

AIRTELAFRI

1905.40

0.00%

0.00%

99.52%

8

BUACEMENT

58.80

0.00%

0.00%

-12.30%

9

DANGCEM

241.00

-9.06%

-9.06%

-6.23%

10

MTNN

201.00

-4.29%

-6.47%

2.03%

11

OKOMUOIL

216.90

0.00%

0.00%

52.75%

12

SEPLAT

1430.50

0.00%

0.00%

120.08%

The equities market closed southwards due to the losses recorded in the Industrial, Consumer Goods and Oil and Gas sectors. Going forward, we expect investor’s sentiments to be swayed by the search for real positive returns and developments in the interest rate space. We reiterate that this may be a great period to pick up some quality names with a medium to long-term investment horizon.

 

Please click here to download today’s price list.

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