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March 17, 2020/InvestmentOne Report
The Nigerian equities market closed negative today as NSE-ASI lost 0.71% to close at 22,543.07pts.
However, in today’s trade, market breadth index was positive with 27 gainers against 12 losers.
DANGCEM (-10.00%) was top loser while WAPCO (+10.00%) led the gainers’ chart.
ZENITHBANK (+5.47%) was the most actively traded stock with about 174million units of shares worth about N2.32billion.
Sector Performance
· NSE Industrial Index: Declined by 2.16%, due to the sell-offs in DANGCEM (-10.00%) and CAPL (-9.77%).
· NSE Oil & Gas Index: Was down by 0.61%, as a result of the loss in ARDOVA (-9.80%).
· NSE Consumer Goods Index: Shed 0.04%, as a result of the declines in NASCON (-10.00%), INTBREW (-9.57%) and CHAMPION (-8.97%).
· NSE Banking Index: Rose by 5.59%, due to the buy-interests in ACCESS (+10.00%), FCMB (+9.66%), WEMABANK (+9.09%), UBN (+9.09%) and ZENITHBANK (+5.47%).
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 6.05 | 10.00% | 12.04% |
2 | DANGCEM | 137.70 | -10.00% | -10.00% |
3 | FBNH | 4.00 | 8.11% | 0.00% |
4 | FIDELITYBK | 1.76 | 5.39% | 4.76% |
5 | GUARANTY | 19.60 | 3.16% | 3.16% |
6 | MTNN | 95.00 | 2.04% | 1.93% |
7 | UBA | 5.30 | 4.95% | -13.82% |
8 | SEPLAT | 544.50 | 0.00% | 0.00% |
9 | ZENITHBANK | 13.50 | 5.47% | 13.45% |
10 | OKOMUOIL | 60.00 | 0.00% | 0.00% |
The equities market closed down today due to the losses recorded in most sectors. While we believe the risk-off sentiment on the back of weak oil price as well as the impact of Coronavirus could have caused the recent sell-off in the market, we opine that this may be one of the best periods to start picking some of the quality names with a medium to long term horizon.
