May 8, 2019/InvestmentOne Report
The Nigerian equities market closed negative today as NSE-ASI lost 0.45% to close at 28,966.41pts.
Market breadth index was flat with 21 losers against 21 gainers.
GOLDINSURE (-10.00%) was the top loser today while BETAGLAS (+9.97%) led the gainers’ chart.
UBA was the most actively traded stock with about 59million units of shares worth about N408million.
Sector Performance
- NSE Banking Index: Shed 0.77%, majorly driven by the losses in UNITYBNK (-6.25%), FCMB (-5.26%), GUARANTY (-2.12%), ACCESS (-2.10%) and ZENITHBANK (-0.49%).
- NSE Industrial Index: Closed down by 0.16% following the decline in DANGCEM (-1.10%) and CUTIX (-0.54%).
- NSE Oil & Gas Index: Declined by 0.02%, on the back of the losses in JAPAULOIL (-9.09%), MOBIL (-1.14%) and CAVERTON (-0.73%).
- NSE Consumer Goods Index: Gained 0.12%, due to the advancements in DANGFLOUR (+5.00%), CADBURY (+2.80%) and DANGSUGAR (+1.82%).
Market Insight
The equities market closed down today following the losses in most sectors. However, we still maintain that prices at current level presents decent entry opportunities for investors with medium to long term horizon.
