April 17, 2020/InvestmentOne Report
The Nigerian equities market closed positive today as NSE-ASI gained 1.63% to close at 22,921.59pts. Similarly, the market gained 7.19%WTD.
In the same vein, market breadth index was positive with 19 gainers against 9 losers.
PZ (+10.00%) led the gainers’ chart while CADBURY (-10.00%) was the top loser.
FBNH (+3.30%) was the most actively traded stock with about 48million units of shares worth about N220million.
Sector Performance
· NSE Consumer Goods Index: Was up by 4.40%, due to the gains in PZ (+10.00%), NB (+9.85%), NESTLE (+5.89%) and HONYFLOUR (+4.17%).
· NSE Industrial Index: Closed up by 4.35%, due to the positive sentiment in BUACEMENT (+8.33%).
· NSE Banking Index: Rose by 2.30%, as a result of the buy-interests in ACCESS (+6.35%), ZENITHBANK (+4.53%), FBNH (+3.30%), JAIZBANK (+1.92%) and GUARANTY (+1.46%).
· NSE Oil & Gas Index: Increased by 1.22%, on the back of the gain in CONOIL (+9.78%)
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 6.70 | 6.35% | 0.75% |
2 | DANGCEM | 136.00 | 0.00% | 16.24% |
3 | FBNH | 4.70 | 3.30% | 0.00% |
4 | FIDELITYBK | 2.04 | 0.00% | -2.86% |
5 | GUARANTY | 20.80 | 1.46% | 10.34% |
6 | MTNN | 101.50 | 0.00% | 6.84% |
7 | UBA | 6.00 | 0.00% | -3.23% |
8 | SEPLAT | 495.00 | 0.00% | 0.00% |
9 | ZENITHBANK | 15.00 | 4.53% | 7.14% |
10 | OKOMUOIL | 55.05 | 0.00% | 0.00% |
The equities market closed up today due to the gains recorded in all 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.
