March 4, 2020/InvestmentOne Report
The Nigerian equities market closed positive today as NSE-ASI gained 0.61% to close at 26,415.54pts.
In today’s trade, market breadth index was positive with 21 gainers against 10 losers.
NEM (+10.00%) led the gainers’ chart while was the top loser ARDOVA (-10.00%).
FBNH (+9.71%) was the most actively traded stock with about 50million units of shares worth about N280million.
Sector Performance
· NSE Banking Index: Rose by 1.70%, as a result of the buy-interests in FBNH (+9.71%), WEMABANK (+8.62%), UNITYBNK (+8.16%), ACCESS (+6.51%) and STERLNBANK (+4.96%).
· NSE Consumer Goods Index: Increased by 0.82%, due to the gain in NB (+4.44%).
· NSE Industrial Index: Was up by 0.37%, due to the increase in BUACEMENT (+0.73%).
· NSE Oil & Gas Index: Fell by 0.68%, due to the sell-off in ARDOVA (-10.00%).
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 9.00 | 6.51% | 9.76% |
2 | DANGCEM | 170.00 | 0.00% | 0.00% |
3 | FBNH | 5.65 | 9.71% | 20.21% |
4 | FIDELITYBK | 2.00 | 2.56% | 2.56% |
5 | GUARANTY | 24.60 | 0.41% | 3.36% |
6 | MTNN | 115.00 | 0.00% | 4.55% |
7 | UBA | 6.90 | 0.73% | 2.99% |
8 | SEPLAT | 605.00 | 0.00% | 0.00% |
9 | ZENITHBANK | 19.60 | 0.00% | 5.95% |
10 | OKOMUOIL | 61.40 | 0.00% | -9.71% |
The equities market closed up today due to 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.
