September 5, 2019/InvestmentOne Report

The Nigerian equities market closed negative today as NSE-ASI lost 0.25% to close at 27,252.09.pts.

In today’s trade, market breadth index was negative with 17 losers and13 gainers.                                                                                                                                                     IKEJAHOTEL (-9.30%) led the loser’s chart while UACN (+10.00%)was the top gainer today. 

GUARANTY (+1.34%) was the most actively traded stock with about 35million units of shares worth about N926million.

Sector Performance  

·         NSE Industrial Index: Fell by 0.67%, on the back of the loss in WAPCO (-3.01%).

·         NSE Banking Index: Went down by 0.18%, as a result of the losses witnessed in FIDELITYBK (-3.75%), UBA (-2.38%), ACCESS (-2.27%) and FCMB (-1.29%).

·         NSE Consumer Goods Index:. Declined by 0.17%, due to the selloffs recorded in HONYFLOUR (-7.07%), PZ (-5.08%) and DANGSUGAR (-3.41%).

·         NSE Oil & Gas Index: Rose by 0.08%, due to the buy interest recorded in FO (+1.35%).

Market Insight 

The equities market closed down today due to the losses recorded in most sectors. 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.