August 28, 2019/InvestmentOne Report

The Nigerian equities market closed positive today as NSE-ASI gained 0.02% to close at 27,607.02.pts.

In today’s trade, market breadth index was flat having 13 gainers and 13 losers.                                                                                                                                                                                                                                                   

JOHNHOLT (+10.00%) led the gainer’s chart while HONYFLOUR (-7.41%) was the top loser today. 

TRANSCORP (-0.95%) was the most actively traded stock with about 39million units of shares worth about N42million.

Sector Performance  

·         NSE Industrial Index: Was up by 1.00%, driven by the gain in WAPCO (+1.07%) and DANGCEM (+0.30%).  

·         NSE Oil & Gas Index: Gained 0.86%, due to the buy interest recorded in FO (+5.48%) and OANDO (+4.00%).

·         NSE Banking Index: Shed by 1.34%, on the back of the losses witnessed in  ACCESS (-5.15%), FIDELITYBK (-4.73%), WEMABANK (-3.33%), FBNH (-3.03%) and ZENITHBANK (-2.63%).  

·         NSE Consumer Goods Index: Declined by 0.10%, due to the selloffs recorded in HONYFLOUR (-7.41%) and PZ (-5.60%).   

Market Insight 

The equities market closed up today following the gains recorded in Industrial and Oil & Gas Sector. We maintain that investors should take positions in quality names with a medium to long time investment horizon as prices remain attractive at current levels.