May 9, 2019/InvestmentOne Report
The Nigerian equities market closed negative today as NSE-ASI lost 0.24% to close at 28,896.25pts.
Similarly, market breadth index was negative with 8 gainers against 19 losers.
VERITASKAP (+10.00%) led the gainers’ chart while JAPAULOIL (-10.00%) was the top loser today.
ACCESS was the most actively traded stock with about 40.7million units of shares worth about N283.5million.
Sector Performance
- NSE Banking Index: Shed 0.55%, majorly driven by the loses in FBNH (-2.67%), ZENITHBANK (-2.20%) and WEMABANK (-1.37%).
- NSE Consumer Goods Index: Declined by 0.03%, following losses in HONEYFLOUR (-1.71%) and NB (-0.31%).
- NSE Oil & Gas Index: Closed flat.
- NSE Industrial Index: Closed flat.
Market Insight
The equities market closed down today following the losses in Banking and Consumer Goods sectors. However, we still maintain that prices at current level presents decent entry opportunities for investors with medium to long term horizon.
