NSE: Sell pressure on Nigerian Breweries, Dangote Sugar, Wapco drive N137.619bn loss

Sell pressure on mid-cap stocks led by Nigerian Breweries, Dangote Sugar, Wapco, Flour Mills and Zenith Bank guided the Nigerian Stock Exchange (NSE) to further loss on Monday, as speculators continued profit-taking efforts after a streak of gains recorded by the market lately.

Massive sell-off in bank stocks, which caused the Banking Index – the day’s worst performer of the five sectorial indices – to fall by 4.43% to 416.12, also contributed to the downtrend.

A negative market breadth was recorded with 10 losers reported against 45 gainers. The All Shares index declined by 0.75% to 34,774.08 basis points and market capitalisation fell to N18.171 trillion.

Year to date, the index is up by 29.55%.

TOP 5 GAINERS

BOC Gas led gainers, appreciating by 9.92% to close at N5.32. Neimeth went up 8.99% to N2.91. Unity Bank rose to N8.86, notching up 0.86% in the process. Ardova added 8.11% to end today’s trade at N16. BUA Cement completed the top 5, climbing by 7.69% to N56.

TOP 5 LOSERS

NAHCO was the worst-performing stock, declining by 10% to close at N2.34. Oando shed 10% to close at N3.60. Dangote Sugar fell to N20, losing 9.91%. Fidelity slid to N2.61, recording 9.69% depreciation. Livestock closed at N1.31, going down by 9.66%.

TOP 5 TRADES

668.531 million shares estimated at N7.849 billion were traded in 10,319 deals.

Zenith was the most active stock with 94.034 million units of its stocks worth N2.510 billion traded in 1,143 deals. 25.482 million units of Transcorp’s shares priced at N82.990 million exchanged hands in 386 transactions. FBN holdings had 65.223 million shares valued at N499.297 million traded in 683 deals. UBA traded 60.104 million shares estimated at N524.521 million in 597 transactions. Access Bank traded 50.292 million shares valued at N449.474 million in 605 deals.



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NSE: Sell pressure on Nigerian Breweries, Dangote Sugar, Wapco drive N137.619bn loss NSE: Sell pressure on Nigerian Breweries, Dangote Sugar, Wapco drive N137.619bn loss Reviewed by Osigwe Omo-Ikirodah on November 17, 2020 Rating: 5

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