October 15, 2019/InvestmentOne Report

The Nigerian equities market closed on a negative note as NSE-ASI lost 0.16% to close at 26,513.65pts.

Similarly, in today’s trade, market breadth index was negative with 13 losers against 7 gainers.                                                                                                                                                      GLAXOSMITH (-9.86%) led the loser’s chart while NAHCO (+5.15%) was the top gainer today. 

ACCESS (+0.68%)  was the most actively traded stock with about 27million units of shares worth about N202million.

  Sector Performance 

·         NSE Banking Index: Shed 0.25%, on the back of the selloffs in UBA (-0.83%) and GUARANTY (-0.74%).

·         NSE Oil & Gas Index: Closed down by 0.22% following the loss in OANDO (-1.96%).

·         NSE Industrial Index: Was up 0.83%, due to the gain in CCNN (+4.28%).

·         NSE Consumer Goods Index: Closed Flat

Market Insight 

The equities market closed down today following the loss recorded in Banking and Oil & Gas 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.