September 18, 2019/InvestmentOne Report

The Nigerian equities market closed positive today as NSE-ASI gained 1.00% to close at 27,681.61pts. 

Similarly, in today’s trade, market breadth index was positive with 24 gainers and 13 losers.

                                                                                                                           CUTIX (+10.00%)  led the loser’s chart while  was the top loser today CHAMPION (-8.80%).  

GUARANTY (+4.56%) was the most actively traded stock with about 99million units of shares worth about N2.83billion. 

Sector Performance

·         NSE Banking Index: Increased by 2.99%, following the rise in  STANBIC (+6.53%), GUARANTY (+4.56%), FCMB (+2.94%), ZENITHBANK (+2.93%) and FIDELITYBK (+2.82%).

·         NSE Industrial Index: Was up 0.94%, on the back of the gain in WAPCO (+4.08%).  

·          NSE Consumer Goods Index: Rose by 0.27%, due to the buy interests recorded in FLOURMILL (+3.85%), DANGSUGAR (+2.08%), HONYFLOUR (+1.01%) and NB (+0.39%).

·         NSE Oil & Gas Index: Declined by 0.19% as a result of the selloffs witnessed in  FO (-2.14%), OANDO (-0.52%). 

Market Insight

The equities market closed up today due to the gains recorded across 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.