October 16, 2019/InvestmentOne Report

The Nigerian equities market closed on a negative note as NSE-ASI lost 0.16% to close at 26,472.20pts.

However, in today’s trade, market breadth index was positive with 13 gainers against 11 losers.

WAPIC (-8.57%) led the loser’s chart while LAWUNION (+9.09%) was the top gainer today. 

ACCESS was the most actively traded stock with about 21million units of shares worth about N153million.

  Sector Performance 

·         NSE Industrial Index: Shed 1.01%, on the back of the selloff in WAPCO (-4.06%).  

·         NSE Oil & Gas Index: Closed down by 0.29%, following the loss in OANDO (-2.57%).

·         NSE Consumer Goods Index: Rose by 0.22%, as a result of the buy interests in DANGFLOUR (+3.34%), NESTLE (+0.40%) and NB (+0.11%).

·         NSE Banking Index: Was up 0.07%, due to the gains in FIDELITYBK (+1.82%) and GUARANTY (+1.32%).

Market Insight 

The equities market closed down today following the losses recorded in Industrial 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.