March 26, 2020/InvestmentOne Report
The Nigerian equities market closed positive today as NSE-ASI gained 0.13% to close at 21,757.47pts.
Similarly, in today’s trade, market breadth index was positive with 24 gainers against 7 losers.
UCAP (+10.00%) led the gainers’ chart while NESTLE (-10.00%) was the top loser.
ZENITHBANK (+2.98%) was the most actively traded stock with about 41million units of shares worth about N489million.
Sector Performance
· NSE Banking Index: Rose by 5.99%, on the back of the buy-interests in UBN (+10.00%), ACCESS (+9.82%), UBA (+7.29%), STERLNBANK (+6.93%) and FIDELITYBK (+6.47%).
· NSE Industrial Index: Dropped by 0.16%, due to the loss in WAPCO (-2.11%).
· NSE Oil & Gas Index: Closed down by 0.21%, as a result of the decline in OANDO (-2.27%).
· NSE Consumer Goods Index: Lost 4.61%, due to the sell-offs in NESTLE (-10.00%) and NB (-0.74%).
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 6.15 | 9.82% | 5.13% |
2 | DANGCEM | 129.70 | 0.00% | 0.00% |
3 | FBNH | 4.15 | 3.75% | 3.75% |
4 | FIDELITYBK | 1.81 | 6.47% | 7.10% |
5 | GUARANTY | 18.00 | 5.26% | -3.23% |
6 | MTNN | 100.00 | 0.00% | -2.91% |
7 | UBA | 5.15 | 7.29% | 3.00% |
8 | SEPLAT | 544.50 | 0.00% | 0.00% |
9 | ZENITHBANK | 12.10 | 2.98% | 2.11% |
10 | OKOMUOIL | 55.05 | 0.00% | 0.00% |
The equities market closed up today due to the gains recorded in the Banking sector. 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.
