Nigerian bourse ended the week on a negative note with the benchmark index dipping by 1.46% to 34,136.82 points.
The market was mostly bearish on profit-taking from retail investors, notably on ZENITHBK (-1.73%) and MTNN (-1.29%). Consequently, year-to-date return and market capitalization settled at 27.60%, and N17.83 trillion, respectively.
A total volume of 344.9million units of shares, valued at N4.22billion exchanged hands in 6,565 deals. ZENITHBANK was the most traded shares by volume and value at 44.3million units and N1.13billion.
- Market sentiment was negative as market breadth came in at 2.4x as there were 34 decliners and 14 advancers.
- The sectorial performance was bearish as Industrial, Banking, Consumer Goods, Oil & Gas were down by 2.41%, 2.16%, 0.66%, and 0.31%, while the Insurance closed as the lone gainer, up by +1.59%.
- NSE Industrial Index: Down by -2.41% due to the price decline in BUACEMENT (-4.55%) and WAPCO (-2.39%).
- NSE Banking Index: Dipped by -2.16%, on sell-offs in ETI (-8.63%), FBNH (-5.23%), FIDELITY (-3.40%) and ZENITHBANK (-1.73%).
- NSE Consumer Goods Index: Fell by -0.6%, due to sustained losses in GLAXOSMITHKLINE (-5.41%), DANGSUGAR (-3.30%), and UNILEVER (-3.45%).
- NSE Oil & Gas Index: Shed -0.21%, as JAPAULOIL (-6.90%) and OANDO (-2.73%) declined in price.
- NSE Insurance Index: Up by +1.53%, on price appreciation in LINKASSURE (+10.00%), NEM (+9.79%), and AIICO (+9.78%).
- IKEJAHOTEL up 10.00% to close at N1.1
- AIICO up 9.78% to close at N1.01
- NEM up 9.79% to close at N2.58
- UPDCREIT up 9.21% to close at N4.15
- NAHCO up 5.50% to close at N2.3
- ETI down 8.63% to close at N6.35
- BUACEMENT down 4.55% to close at N53.45
- DANGSUGAR down 3.30% to close at N20.5
- MTNN down 1.29% to close at N153
- DANGCEM down 0.92% to close at N193.2
Nigerian Stocks dropped lower amid falling crude oil prices across the market spectrum.
- Nigerian Equities have been hit by relatively weak earning seen from Nigerian banks coupled with worsened fears that the COVID-19 outbreak hitting hard in Europe, one of Nigeria’s main trading partners.
- Nairametrics envisage cautious buying, amid a significant amount of profit-taking seen across the market spectrum.
Heavy sell-off in Guinness shares leads to N6.9 billion market value loss in a single day
Shares of Guinness Nigeria Plc suffered a 9.89% loss today.
Guinness Nigeria Plc suffered a 9.89% loss today following a heavy sell-off in the shares of the brewer. This triggered a market value loss amounting to about N6.9 billion at the close of trading activities on the Nigerian Stock Exchange, as investors scaled-down stakes in the brewer.
Data tracked at the close of the market today revealed that the shares of GUINNESS declined from N31.85 per share at the market open, to N28.70 per share at the close of the market today, to print a loss of 9.89%.
This decline saw the market capitalization of the leading maker of beer and spirits fall from N69.75 billion to N62.86 billion at the close of trading activities today, putting the total market value loss at N6.89 billion.
The shares of Guinness at the close of the market today cleared at N28.70 per share, 9.89% lower than the closing price of N31.85 per share yesterday.
At the current price, Guinness shares are currently trading 20.27% lower than their 52-week high of N36.00 per share. However, the shares of the company have returned about 120.8% gains for investors who bought them at their 52-week low trading price of N13.00 per share last week.
During trading hours on the Exchange today, about 159,380 ordinary shares of Guinness Nigeria Plc worth about N4.57 million, were exchanged in 27 executed deals.
The shares of Nigerian Breweries Plc and Golden Guinea Breweries Plc closed flat at N50.1 per share and N0.81 per share respectively, while the shares of International Breweries Plc shed 0.88% to close low today at N5.65 per share.
What you should know
- At the close of trading activities today, the NSE All-Share Index and market capitalization appreciated by 0.29% to close higher at 39,128.34 index points and N20.477 trillion respectively.
- The NSE Consumer Goods Index, an investable benchmark designed to track the performance of the shares of consumer goods companies like Guinness Nigeria Plc, depreciated by -0.35% to close the day lower at 553.26 index points.
Guinness plunges amid Nigerian stocks gains
The All-Share Index increased by +0.29% to close at 39,128.34 from 39,015.58 index points.
The Nigerian Stock Exchange market posted gains at the end of the trading session today. The All-Share Index increased by +0.29% to close at 39,128.34 from 39,015.58 index points. CONOIL topped the gainers list.
- Nigerian Stock Exchange market value currently stands at NGN 20.48Tr. Its Year-to-Date (YTD) returns currently stands at – 84%.
- The market closed in profit as CONOIL led 21 Gainers and GUINNESS topped the chart of 22 Losers with a noticeable bullish movement by the NSE ASI.
- CONOIL up +9.97% to close at N18.75
- STUDPRESS up +9.88% to close at N1.78
- ETERNA up +9.48% to close at N6.35
- UPL up +9.40% to close at N1.28
- WAPCO up +6.83% to close at N21.90
- GUINNESS down -9.89% to close at N28.70
- PORTPAINT down -9.85% to close at N2.38
- ACADEMY down -8.26% to close at N0.37
- LEARNAFRCA down -8.26% to close at N1.00
- REGALINS down -7.41% to close at N0.25
The NSE ASI saw a bullish move supporting Tuesday gains and showing bullish dominance since the start of the week. However, the following stocks are on our watchlist: PZ, Guaranty, Access bank, STANBIC, HONYFLOUR, GUINNESS and Flourmills.
- Nairametrics advises cautious participation in the stock market in this era of growing uncertainties.
Nairametrics | Company Earnings
Access our Live Feed portal for the latest company earnings as they drop.
- VFD Group set to raise additional capital of N9.01 billion through rights issue and private placement.
- GT Bank records a 9% dip in profit to N45.55 billion in Q1 2021.
- Secure Electronic Technology Plc records a 121% surge in Profit after tax in Q1 2021.
- Lafarge Africa Plc notifies stakeholders of 62nd Annual General Meeting.
- GlaxoSmithKline (GSK) announces Annual General Meeting.