Stock market finishes week on poor note as capitalization drops

June 6, 2020
18 Views

Nigeria’s stock market finished the week on a poor note, extending its previous day’s loss with investors losing a whopping N154.28 billion in value.

The ASI declined by -1.17% to 25,016.00 index points, year to date loss dipped to -6.88% as market capitalization dropped to N13.04 trillion.

In terms of activity levels, market activity mirrored the broad index as total volumes and values declined by -20.61% and -52.51% to 214.49 million units and 2.51 billion respectively.

ZENITH BANK was the most traded stock by volume at 22.2 million units, while NB topped by value at N666 million.

Market sentiment, measured by market breadth, was however positive with 22 gainers led by BOCGAS (10.00%), against 18 losers topped by CABDURY (-9.47%).

Across the major indexes we cover, four out of five indexes closed negative. The Industrial goods (-3.91%) index was the worst performer, due to BUACEM (-5.44%) and DANGCEMENT (-2.04%) price decline.

The Consumer Goods (-1.23%) and Energy (-0.96%) indices followed, owing to sell-offs in CADBURY (-9.47%); NB (-4.55%); GUINNESS (-3.68%) and OANDO (-2.22%).

Also, the Banking (-0.28%) index lost points, as prices of GUARANTY (-2.45%) and FBNH (-1.82%) fell. The Insurance index was the lone gainer, up +0.06% on price appreciation in CHIPLC, CUSTODIAN & AIICO Insurance.

BOCGAS up 10.00% to close at N4.4; SKYAVN up 9.64% to close at N2.73; NASCON up 1.77% to close at N11.5; CUSTODIAN up 3.42% to close at N6.05; and NEIMETH up 9.94% to close at N1.77.

CADBURY down 9.47% to close at N7.65; BUACEMENT down 5.44% to close at N40; NB down 4.55% to close at N42; GUINNESS down 3.68% to close at N18.3; and DANGCEM down 2.04% to close at N139.

Market dropped close to the N13 trillion market capitalization support level, as heavy selling was observed among blue-chip stocks.

You may be interested

I will punish Oshiomhole, others without mercy – Obaseki
News
1 views
News
1 views

I will punish Oshiomhole, others without mercy – Obaseki

Webby - September 22, 2020

<!-- Tinubu, Obaseki, Oshiomhole -->Godwin Obaseki Michael Adeshina Edo State Governor, Godwin Obaseki has vowed to punish his erstwhile godfather…

Breaking: Atiku reacts to FINCEN files report
News
1 views
News
1 views

Breaking: Atiku reacts to FINCEN files report

Webby - September 22, 2020

<!-- Atiku Abubakar: his wire transfers abroad triggered Suspicious Activity Reports(SARS) --> Atiku Abubakar: his wire transfers abroad triggered Suspicious…

WASSCE: Delta Govt Demotes 41 Teachers Over Examination Misconduct
News
3 views
News
3 views

WASSCE: Delta Govt Demotes 41 Teachers Over Examination Misconduct

Webby - September 22, 2020

The Delta State Government has demoted not fewer than 41 teachers and as well, barred them from supervision role as…

Leave a Comment

Your email address will not be published.