October 11, 2019/InvestmentOne Report

The Nigerian equities market continued its bearish run as NSE-ASI shed 0.19% to close at 26,533.78pts. Consequently, WtD performance is down 1.69%.

Similarly, in today’s trade, market breadth index was negative with 12 losers against 10 gainers.                                                                                                                                                      NIGERINS (-9.09%) led the loser’s chart while  ABCTRANS (+10.00%) was the top gainer today. 

FCMB was the most actively traded stock with about 24million units of shares worth about N38million.

  Sector Performance 

·         NSE Consumer Goods Index: Closed down by 0.87% following the declines in NB (-4.17%) and GUINNESS (-2.17%). 

·         NSE Industrial Index: Fell by 0.22%, due to the loss in DANGCEM (-0.55%). 

·         NSE Oil & Gas Index: Shed 0.10%, as a result of the selloff in OANDO (-0.83%). 

·         NSE Banking Index: Was up by 0.10%, on the back of the buy interests in JAIZBANK (+2.04%), FBNH (+1.89%) and FIDELITYBK (+1.23%).

Market Insight 

The equities market closed down today following 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.