March 16, 2020/InvestmentOne Report
The Nigerian equities market closed negative today as NSE-ASI lost 0.12% to close at 22,705.19pts.
However, in today’s trade, market breadth index was positive with 18 gainers against 14 losers.
TRANSCORP (-10.00%) was top loser while UCAP (+10.00%) led the gainers’ chart.
GUARANTY was the most actively traded stock with about 137million units of shares worth about N2.61billion.
Sector Performance
· NSE Industrial Index: Declined by 0.52% , due to the sell-off in WAPCO (-6.10%).
· NSE Consumer Goods Index: Shed 0.16%, as a result of the declines in DANGSUGAR (-2.96%) and NB (-0.18%).
· NSE Banking Index: Rose by 0.63%, due to the buy-interests in UBN (+10.00%), ZENITHBANK (+7.56%), UNITYBNK (+5.00%) and ACCESS (+1.85%).
· NSE Oil & Gas Index: Closed Flat
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 5.50 | 1.85% | -35.29% |
2 | DANGCEM | 153.00 | 0.00% | -10.00% |
3 | FBNH | 3.70 | -7.50% | -30.84% |
4 | FIDELITYBK | 1.67 | -0.60% | -16.50% |
5 | GUARANTY | 19.00 | 0.00% | -22.76% |
6 | MTNN | 93.10 | -0.11% | -0.11% |
7 | UBA | 5.05 | -17.89% | -17.89% |
8 | SEPLAT | 544.50 | 0.00% | 0.00% |
9 | ZENITHBANK | 12.80 | 7.56% | 7.56% |
10 | OKOMUOIL | 60.00 | 0.00% | 0.00% |
The equities market closed down today due to the losses recorded in Industrial and Consumer Goods. 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.
