May 23, 2019/InvestmentOne Report
The Nigerian equities market closed positive today as NSE-ASI gained 1.07% to close at 31,477.51pts.
However, market breadth index was negative with 14 gainers against 24 losers.
LAWUNION (+10.00%) led the gainers’ chart while ACADEMY (-10.00%) was the top loser today.
SOVRENINS was the most actively traded stock with about 280.76 million units of shares worth over N64.6 million.
Sector Performance
- NSE Consumer Goods Index: Gained 1.33%, due to the buy interests in CADBURY (+4.29%), NESTLE (+3.41%) and UNILEVER (+3.23%).
- NSE Industrial Index: Appreciated by 0.82%, following the gains in BETAGLAS (+7.60%) and DANGCEM (+0.99%).
- NSE Oil & Gas Index: Gained 0.06%, due to the increase in JAPUALOIL (+9.09%), CONOIL (+6.95%) and MOBIL (+2.94%).
- NSE Banking Index: Shed 0.20%, driven by the losses in STERLNBANK (-8.30%), WEMABANK (-3.23%), JAIZBANK (-2.08%), ACCESS (-1.68%), ZENITHBANK (-1.05%) and UBA (-0.88%).
Market Insight
The equities market closed up today largely due to gains in MTNN and most sectors. We still maintain that prices at current level present decent entry opportunities for investors with medium to long term horizon.
