June 26, 2019/InvestmentOne Report

The Nigerian equities market closed in the red today as NSE-ASI lost 0.20% to close at 29,609.00pts. 

Similarly, market breadth index was negative today with 19 losers against 17 gainers. 

COURTVILLE (+9.52%) led the gainers’ chart today while CHAMS (-10.00%) was the top loser.  

WEMABANK was the most actively traded stock with over 194million units of shares worth about  N128million.

Sector Performance

·         NSE Industrial Index: Shed by 1.88%, following the loss in CCNN (-9.77%). 

·         NSE Consumer Goods Index: Lost 0.35%, on the back of the sell-offs in CADBURY (-6.39%) and NESTLE (-3.52%).

·         NSE Oil & Gas Index: Advanced by 0.91%, due to the gains in FO (+4.83%) and SEPLAT (+1.01%).

·         NSE Banking Index: Gained 0.28%, following the buy interests in ACCESS (+0.76%), ZENITHBANK (+0.25%) and GUARANTY (+0.16%).  

Market Insight 

The equities market closed down today due to the losses in Consumer and Industrial names. Despite the recent sell-off, we maintain that prices at current level present decent entry opportunities for investors with medium to long term horizon.