September 30, 2019/InvestmentOne Report

The Nigerian equities market closed negative today as NSE-ASI lost 0.16% to close at 27,630.56pts. However, MTD closed up +0.36%.

In today’s trade, market breadth index was flat with 18 losers against 18 gainers.                                                                                                                                                      JOHNHOLT (-9.84%) led the loser’s chart while  CAP (+9.89%) was the top gainer today.  

GUARANTY (+5.60%) was the most actively traded stock with about 58million units of shares worth about N1.6billion. 

Sector Performance

·         NSE Banking Index: Gained by 1.56%, following the increases in NPFMCRFBK (+9.09%), GUARANTY (+5.80%), FCMB(+1.23), ZENITHBANK (+1.08%) and ACCESS (+0.65%). 

·         NSE Consumer Goods Index: Advanced by 1.26%, on the back of gains witnessed in  NESTLE (+3.71%), DANGFLOUR (+2.68%) and FLOURMILL (+2.14%). 

·         NSE Industrial Index: Was up by 0.91%, driven by gains recorded in CAP (+9.89%), CCNN (+3.68%) and DANGCEM (+0.53%). 

·         NSE Oil & Gas Index: Increased by 0.35% as a result of the buy interest in TOTAL (+7.92%).

Market Insight 

The equities market closed down today due to the loss recorded in MTNN (-4.04%), despite the gains in all 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.