November 20, 2019/InvestmentOne Report

The Nigerian equities market closed positive today as NSE-ASI increased by 0.14% to close at 26,776.15pts.

Similarly, market breadth index was positive with 24 gainers against 10 losers.                                                                                                                                                                               CHAMS (+10.00%) was the top gainer while NASCON (-5.72%) led the loser’s chart today.

ACCESS (+3.55%)  was the most actively traded stock with about 64million units of shares worth about N644million. 

Sector Performance 

·         NSE Banking Index: Gained 1.79%, as a result of the upticks in FBNH (+8.15%), UBA (+7.64%), WEMABANK (+5.71%), FCMB (+4.64%) and FIDELITYBK (+3.59%).

·         NSE Consumer Goods Index: Closed up by 1.27%, due to the buy interests in NB (+6.12%), DANGSUGAR (+1.24%) and PZ (+0.96%).

·         NSE Oil & Gas Index: Was up by 0.09%, on the back of the gain in CONOIL (+9.47%).

·         NSE Industrial Index: Fell by 0.45% due to the selloff recorded in DANGCEM (-0.62%).

Market Insight 

The equities market closed up today as result of the gains recorded in most sectors. We still maintain our view that investors should take positions in quality names with a medium to long time investment horizon as prices remain attractive at current levels.