February 28, 2020/InvestmentOne Report
The Nigerian equities market closed negative today as NSE-ASI lost 2.21% to close at 26,216.46pts. Similarly, the market lost 4.28%WTD.
In today’s trade, market breadth index was strongly negative with 41 losers against 2 gainers.
CADBURY (-10.00%) was the top today loser while VITAFOAM (+5.88%) led the gainers’ chart.
GUARANTY (-9.85%) was the most actively traded stock with about 96million units of shares worth about N2.29billion.
Sector Performance
· NSE Banking Index: Was down by 2.21%, as a result of the declines in ETI (-10.00%), STANBIC (-9.97%), GUARANTY (-9.85%), NPFMCRFBK (-9.52%) and FCMB (-8.06%).
· NSE Consumer Goods Index: Fell by 1.91%, due to the losses in PZ (-10.00%), CADBURY (-10.00%) and NB (-10.00%).
· NSE Oil & Gas Index: Lost 1.14%, due to fall in OANDO (-10.00%), ETERNA (-9.55%) and CAVERTON (-8.15%).
· NSE Industrial Index: Declined by 0.01%, due to the sell-off in CUTIX (-5.71%).
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 8.20 | -6.29% | -12.77% |
2 | DANGCEM | 170.00 | 0.00% | 0.00% |
3 | FBNH | 4.70 | -7.84% | -18.26% |
4 | FIDELITYBK | 1.95 | -5.34% | -8.88% |
5 | GUARANTY | 23.80 | -9.85% | -14.85% |
6 | MTNN | 110.00 | -1.87% | -5.17% |
7 | UBA | 6.70 | -4.29% | -9.46% |
8 | SEPLAT | 605.00 | 0.00% | 0.00% |
9 | ZENITHBANK | 18.50 | -2.63% | -6.80% |
10 | OKOMUOIL | 68.00 | 0.00% | 0.00% |
The equities market closed down today due to the losses recorded in all 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.
