October 7, 2019/InvestmentOne Report

The Nigerian equities market closed negative today as NSE-ASI lost 0.45% to close at 26,866.41pts. 

However, in today’s trade, market breadth index was positive with 17 gainers against16 losers.                                                                                                                                                     CORNERST (-10.00%) led the loser’s chart while  COURTVILLE (+10.00%) was the top gainer today.  

FCMB was the most actively traded stock with about 56million units of shares worth about N89million.

  Sector Performance 

·         NSE Oil & Gas Index: Decreased by 4.18%, on the back of the sell-off witnessed in  SEPLAT (-6.85%) and OANDO (-2.70%). 

·         NSE Industrial Index: Fell by 1.61% as a result of the declines in WAPCO (-1.54%) and DANGCEM (-0.07%) 

·         NSE Consumer Goods Index: Was down by 1.18%, due to the losses in CADBURY(-5.74%), NESTLE (-2.03%), NB (-0.70%) and DANGSUGAR (-0.47%). 

·         NSE Banking Index: Declined by 0.13% following the losses recorded in STANBIC (-2.50%), FIDELITYBK (-2.50%), UBA (-1.63%) and ACCESS (-1.39%).

Market Insight 

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