July 2, 2019/InvestmentOne Report

The Nigerian equities market closed negative today as NSE-ASI lost 0.74% to close at 29,315.14pts. 

Similarly, market breadth index was negative today with  23 losers against 13 gainers.

CCNN (+8.11%) led the gainers’ chart today while UAC-PROP (-9.68%) 

GUARANTY (-1.96%) was the most actively traded stock with over 24million units of shares worth about  N742million.

Sector Performance 

·         NSE Consumer Goods Index: Lost 2.14%, on the back of the declines in INTBREW (-6.83%), DANGSUGAR (-5.73%) and NESTLE (-3.24%).

·         NSE Oil & Gas Index: Declined by 0.99%, due to the losses in OANDO (-8.75%) and ETERNA (-7.59%). 

·         NSE Banking Index: Shed 0.90%, following the sell-offs in FIDELITYBK (-9.09%), FBNH (-2.27%), ACCESS (-2.26%) and GUARANTY (-1.96%).

·         NSE Industrial Index: Gained 0.82%, following the buy interests in CCNN (+8.11%) and WAPCO (+1.63%).  

Market Insight 

The equities market closed down today due to the sell-offs across most sectors. Despite the recent losses, we maintain that prices at current level present decent entry opportunities for investors with medium to long term horizon.