April 8, 2020/InvestmentOne Report
The Nigerian equities market closed positive today as NSE-ASI gained 0.71% to close at 21,073.26pts.
Similarly, in today’s trade, market breadth index was positive with 25 gainers against 8 losers .
ETI (+10.00%) led the gainers’ chart while SKYAVN (-10.00%) was the top loser.
GUARANTY (+1.67%) was the most actively traded stock with about 102million units of shares worth about N1.84million.
Sector Performance
· NSE Banking Index: Rose by 2.07% as a result of the gains in WEMABANK (+9.80%), FIDELITYBK (+6.47%), STERLNBANK (+4.10%), UBA (+3.67%) and ZENITHBANK (+2.32%).
· NSE Consumer Goods Index: Was up by 0.99%, due to the buy-interests in DANGSUGAR (+9.55%), FLOURMILL (+2.38%) and NESTLE (+0.01%).
· NSE Industrial Index: Increased by 0.97%, on the back of the gain in WAPCO (+9.77%).
· NSE Oil & Gas Index: Fell by 0.55%, due to the decline in ARDOVA (-9.64%).
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 6.50 | -1.52% | 7.44% |
2 | DANGCEM | 117.00 | 0.00% | -6.40% |
3 | FBNH | 4.40 | 0.00% | 11.39% |
4 | FIDELITYBK | 2.14 | 6.47% | 26.63% |
5 | GUARANTY | 18.30 | 1.67% | 3.98% |
6 | MTNN | 95.00 | 0.21% | 3.26% |
7 | UBA | 5.65 | 3.67% | 14.14% |
8 | SEPLAT | 490.10 | 0.00% | -9.99% |
9 | ZENITHBANK | 13.25 | 2.32% | 11.34% |
10 | OKOMUOIL | 55.05 | 0.00% | 0.00% |
The equities market closed up today due to the gains 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 continue to weigh in on equities 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 investment horizon.
