April 23, 2020/InvestmentOne Report
The Nigerian equities market closed down today as NSE-ASI lost 1.36% to close at 22,470.79pts.
However, in today’s trade, market breadth index was slightly positive with 17 gainers against 15 losers.
ETI (-10.00%) led the losers’ chart while JAIZBANK (+10.00%) was the top gainer.
ACCESS (+1.60%) was the most actively traded stock with about 47million units of shares worth about N297million.
Sector Performance
- NSE Industrial Index: Closed down by 3.82%, due to negative sentiment towards BUACEMENT (-5.31%) and DANGCEM (-3.31%).
- NSE Consumer Goods Index: Was down by 3.30%, due to the losses in NESTLE (-6.67%), DANGSUGAR (-2.83%) and GUINNESS (-0.53%).
- NSE Oil & Gas Index: Declined by 0.20%, on the back of the loss in ARDOVA (-4.50%).
- NSE Banking Index: Gained 0.71%, as a result of the buy-interests in JAIZBANK (+10.00%), WEMABANK (+9.09%), FBNH (+4.71%), STANBIC (+3.64%) and UBA (+1.71%).
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 6.35 | 1.60% | -5.22% |
2 | DANGCEM | 131.50 | -3.31% | -3.31% |
3 | FBNH | 4.45 | 4.71% | -5.32% |
4 | FIDELITYBK | 1.80 | -1.10% | -11.76% |
5 | GUARANTY | 18.90 | 1.61% | -9.13% |
6 | MTNN | 100.00 | 0.00% | -1.48% |
7 | UBA | 5.95 | 1.71% | -0.83% |
8 | SEPLAT | 494.40 | 0.00% | -0.12% |
9 | ZENITHBANK | 13.90 | 1.09% | -7.33% |
10 | OKOMUOIL | 55.05 | 0.00% | 0.00% |
The equities market closed down today due to sell-offs 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.
