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Oil & gas, industrial, consumer goods record worst performance as investors lose N879 - Printable Version

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Oil & gas, industrial, consumer goods record worst performance as investors lose N879 - Edoman - 05-12-2019

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Oil & gas, industrial, consumer goods record worst performance as investors lose N879bn
....as Karima Silvent leaves AXA Mansard
[url=https://businessday.ng/author/teliat-sule/][Image: Screen-Shot-2019-01-08-at-8.29.52-PM.png]By TELIAT SULE
On May 12, 2019
Nigerian Stock Exchange
 
Stocks listed in the oil and gas, industrial and consumer goods sub sectors on the Nigerian Stock Exchange are daily trailing their listed stocks in other sub segments as a result of which their sub sectoral indexes are the worst performing on the NSE year to date. When transactions ended last week, the NSE Oil & Gas Index closed at 302.23 representing negative 12.35 percent loss year to date. The NSE Industrial Index closed lower at 1,096.75 as against 1,237.88 at the beginning of the year just as the NSE Consumer Good Index ended the week at 669.53 in contrast to 748.83 and that amounted to -10.59 percent year to date.

Whereas the All Share Index (ASI) closed last week at 28,847.81 as against 31,430.50 on the last trading day of 2018, representing -8.22 percent YTD, by closing at -12.35 percent, -11.40 percent and -10.59 percent, the oil & gas, industrial and consumer goods sub sectoral indexes emerged the worst performing indexes on the NSE, as the stock components are among the laggards on the NSE.

Analysts across the capital market are of the views that while the equity valuations hold much promise for long term investors, there is need for triggers that will stimulate significant interest in the market.

“Looking ahead, we expect activities in the local bourse to remain tepid in absence of positive triggers that could spur massive buying interest. However, we do not rule out the possibility of intermittent gains in the market on the backdrop of bargain hunting of stocks with relatively cheap prices”, United Capital said in a note to clients.

Seven stocks make up the components of the NSE Industrial Index which are Conoil, Forte Oil, Mobil, MRS, Oando, Total and Seplat. Year to date, only Forte Oil has appreciated while others have recorded different degrees of depreciation in their prices. Forte Oil closed last week at N34.95 per share which translated to 21.8 percent YTD price appreciation.
On the contrary, Conoil ended the period at N20.10 per share which translated to -13.5 percent returns. Mobil ended at N173 per share translating to -6.7 percent; MRS, -18.9 percent; Oando, -4 percent; Total, 20.2 percent, and Seplat, -18.4 percent.
The NSE Industrial Index has 10 components which are Berger, Betaglass, CAP, CCNN, Cutix, First Aluminium and Meyer. Others are Portland Paint, Dangote Cement and Wapco.

Only First Aluminium, 16.7 percent; Cutix, 12.8 percent; Betaglass, 1 percent are the advancers years to date. Even at that, these stocks control an insignificant amount of the weight of the index. On the other hand Meyer Paints’ share price remained unchanged year to date while CAP, -2.4 percent; Dangote Cement Wapco which are the tow heavyweights in that index shed -5.6 percent and -11.6 percent respectively. Berger, -14.5 percent and CCNN, -21.1 percent are also among the decliners.
The NSE Consumer Goods Index has fifteen stocks as components. These include Cadbury, Champion Breweries, Dangote Flour, Flour Mills, Guinness and PZ. Others are Unilever, Vitafoam, Honeywell, International Breweries, NASCON, Nigerian Breweries, Nestle and Northern Nigerian Flour Mills.

Meanwhile, the board of AXA Mansard Insurance Plc has announced the departure of Karima Silvent who until last week was a non executive director in the company.

“AXA Mansard Insurance Plc wishes to notify The Nigerian Stock Exchange (The Exchange), esteemed shareholders, stakeholders and the public on the resignation of Karima Silvent, a Non-Executive Director of the Company, with effect from May 8, 2019. The resignation has been unanimously approved by the Board. The Board and Management of AXA Mansard Insurance Plc commends Karima Silvent for her leadership and overall contribution to the growth of the Company during her tenure on the Board”, a notice sent to the Exchange and signed by Omowunmi Mabel Adewusi, company secretary stated.
TELIAT SULE