February 5, 2020/InvestmentOne Report

The Nigerian equities market closed negative today as NSE-ASI lost 1.19% to close at 28,093.76pts.

Similarly, in today’s trade, market breadth index was negative with 21 losers against 18 gainers.

CONOIL (-10.00%) was the top loser today while UBN (+9.85%)  led the gainers’ chart.                                                                                                 

ZENITHBANK was the most actively traded stock with about 98million units of shares worth about N1.87billion.

Sector Performance 

·        NSE Oil & Gas Index: Lost 2.19%, due to the sell-offs in CONOIL (-10.00%), MOBIL (-9.94%) and OANDO (-1.92%).

·        NSE Industrial Index: Declined by 1.63%, due to the loss in DANGCEM (-5.50%).

·        NSE Consumer Goods Index: Dropped by 1.37%, as a result of the declines in NASCON (-10.00%), NB (-6.36%) and INTBREW (-2.22%).

·        NSE Banking Index: Rose by 1.46%, on the back of the gains in UBN (+9.85%), ACCESS (+3.89%), FCMB (+2.21%), WEMABANK (+1.54%) and UBA (+1.35%).

Performance of key stocks 

The equities market closed down today as a result of the losses 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.