October 2, 2019/InvestmentOne Report

The Nigerian equities market closed negative today as NSE-ASI lost 1.14% to close at 27,314.87pts. 

Similarly, in today’s trade, market breadth index was negative with 24 losers against 11 gainers.                                                                                                                                                      FIDSON (-10.00%) led the loser’s chart while  NEIMETH (+10.00%) was the top gainer today.  

GUARANTY (-7.53%) was the most actively traded stock with about 25million units of shares worth about N684million. 

Sector Performance

·         NSE Banking Index: Declined by 4.51%, following the reductions recorded in ETI (-9.97%), STERLNBANK (-9.00%), NPFMCRFBK (-8.83%), GUARANTY (-7.53%) and ACCESS (-3.90%).

·         NSE Oil & Gas Index: Decreased by 2.01%, on the back of the sell offs witnessed in  MRS (-9.84%), CONOIL (-9.82%) and MOBIL (-9.45%). 

·         NSE Consumer Goods Index: Was down by 1.24%, driven by losses in NB (-6.67%), DANGFLOUR (-2.83%) and DANGSUGAR (-0.92%). 

·         NSE Industrial Index: Increased by 0.07% as a result of the buy interest in WAPCO (+0.63%).

Market Insight 

The equities market closed down today following the sell-offs 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.