NSE LIVE! Equities remain negative as sell-off persists

Quoted equities reopened on Monday in the negative as the sell-off in the stock market persisted. Most price changes ended in the negative with sectoral indices showing widespread selling sentiments across the sectors.

With 30 losers to 16 gainers, total market value of all quoted equities on the Nigerian Stock Exchange (NSE) dropped from N9.910 trillion to close at N9.896 trillion, representing a loss of N14 billion. The All Share Index (ASI), the main index that tracks prices of quoted equities, also dropped by 0.14 per cent from 28,854.98 points to close at 28,813.51 points.  The sustained decline further pared the average year-to-date return to 0.60 per cent.

Sectoral indices showed widespread selling sentiments. The NSE Industrial Goods Index dropped by 2.1 per cent. The NSE Insurance Index and NSE Oil & Gas Index decline d by 1.2 per cent each while the NSE Consumer Goods Index dipped by 0.07 per cent. However, the NSE Banking Index played the contrarian with a gain of 1.8 per cent.

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Highly capitalised stocks such as Dangote Cement, Oando, Stanbic IBTC and Lafarge Africa led the losses. Lafarge Africa, which forewarned of decline in profit, led the losers’ list with a loss of N3.20 to close at N60.45. MRS Oil followed with a loss of N1.10 to close at N33.61. Stanbic IBTC Holdings declined by 83 kobo to close at N115.77. International Breweries lost 80 kobo to close at N19. Oando dropped by 60 kobo to N7.45. Dangote Cement and PZ Cussons Nigeria lost 30 kobo each to close at N191.20 and N22.70 respectively. Champion Breweries declined by 20 kobo to close at N3.83 while Tiger Branded Consumer Goods and Union Bank of Nigeria lost 18 kobo each to close at N4.60 and N4.67 respectively.

On the other hand, Nestle Nigeria led the gainers’ list with a gain of N2.10 to close at N852.10. Guinness Nigeria followed with a gain of N1.01 to close at N101. Guaranty Trust Bank added N1 to close at N24. Okomu Oil Palm rose by 48 kobo to close at N31.50. Zenith Bank gathered 42 kobo to close at N15.87 per share. Nascon Allied Industries rose by 19 kobo to N8.04. United Bank for Africa chalked up 11 kobo to close at N4.57 while Custodian and Allied Industries rose by 10 kobo to close at N4 per share.

Total turnover stood at 275.36 million shares valued at N3.44 billion in 4,865 deals. Guaranty Trust Bank was the most active stock with a turnover of 45.65 million shares valued at N1.06 billion. FBN Holdings followed with a turnover of 32.3 million shares worth N117.01 million while FCMB Group placed third with a turnover of 21.03 million shares valued at N27.46 million.

Market pundits expected transactions to remain low-keyed as investors await second quarter earnings of quoted companies.

 

 

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