April 20, 2020/InvestmentOne Report
The Nigerian equities market closed somewhat flat today as NSE-ASI shed 0.01% to close at 22,920.41pts.
Similarly, in today’s trade, market breadth index was negative with 16 losers against 14 gainers.
LINKASSURE (+10.00%) led the gainers’ chart while GUINNESS (-9.37%) was the top loser.
FBNH (+3.30%) was the most actively traded stock with about 115million units of shares worth about N538million.
Sector Performance
- NSE Banking Index: Declined by 4.01%, as a result of the sell-offs in ZENITHBANK (-5.67%), UBN (-4.55%), ACCESS (-4.48%), GUARANTY (-4.33%) and STERLNBANK (-2.96%).
- NSE Oil & Gas Index: Fell by 0.45%, on the back of the loss in OANDO (-4.58%).
- NSE Industrial Index: Closed up by 4.80%, due to positive sentiment towards BUACEMENT (+8.48%).
- NSE Consumer Goods Index: Was up by 1.19%, due to the gains in NB (+6.65%) and NESTLE (+0.83%).
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 6.40 | -4.48% | -4.48% |
2 | DANGCEM | 136.00 | 0.00% | 0.00% |
3 | FBNH | 4.70 | 0.00% | 0.00% |
4 | FIDELITYBK | 1.89 | -7.35% | -7.35% |
5 | GUARANTY | 19.90 | -4.33% | -4.33% |
6 | MTNN | 100.00 | -1.48% | -1.48% |
7 | UBA | 6.00 | 0.00% | 0.00% |
8 | SEPLAT | 495.00 | 0.00% | 0.00% |
9 | ZENITHBANK | 14.15 | -5.67% | -5.67% |
10 | OKOMUOIL | 55.05 | 0.00% | 0.00% |
The equities market closed somewhat flat today as losses in Banking and Oil & Gas names offset the gains 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 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.
