April 16, 2020/InvestmentOne Report
The Nigerian equities market closed positive today as NSE-ASI gained 0.07% to close at 22,554.84pts.
However, in today’s trade, market breadth index was negative with 20 losers against 18 gainers.
NESTLE (+10.00%) led the gainers’ chart while ACCESS (-10.00%) was the top loser.
ZENITHBANK (-9.75%) was the most actively traded stock with about 85million units of shares worth about N1.25billion.
Sector Performance
· NSE Consumer Goods Index: Was up by 5.69%, due to the gains in NESTLE (+10.00%), NB (+9.89%), CHAMPION (+9.09%) and HONYFLOUR (+2.13%).
· NSE Oil & Gas Index: Increased by 0.25%, on the back of the gain in CONOIL (+9.96%).
· NSE Banking Index: Fell by 6.25%, as a result of the sell-offs in ACCESS (-10.00%), STERLNBANK (-10.00%), ZENITHBANK (-9.75%), UBA (-7.69%) and GUARANTY (-6.39%).
· NSE Industrial Index: Closed down 2.04%, due to negative sentiments towards WAPCO (-6.61%) and BUACEMENT (-3.29%).
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 6.30 | -10.00% | -5.26% |
2 | DANGCEM | 136.00 | 2.18% | 16.24% |
3 | FBNH | 4.55 | -6.19% | -3.19% |
4 | FIDELITYBK | 2.04 | -3.77% | -2.86% |
5 | GUARANTY | 20.50 | -6.39% | 8.75% |
6 | MTNN | 101.50 | 3.57% | 6.84% |
7 | UBA | 6.00 | -7.69% | -3.23% |
8 | SEPLAT | 495.00 | 0.00% | 0.00% |
9 | ZENITHBANK | 14.35 | -9.75% | 2.50% |
10 | OKOMUOIL | 55.05 | 0.00% | 0.00% |
The equities market closed up today due to the gains recorded in Consumer Goods and Oil & Gas 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.
