April 24, 2020/InvestmentOne Report
The Nigerian equities market closed up today as NSE-ASI gained 0.57% to close at 22,470.79pts. However, NSE-ASI lost 1.41% WTD.
In today’s trade, market breadth index was slightly positive with 15 gainers against 14 losers.
CAVERTON (+9.78%) was the top gainer while CAP (-9.91%) led the losers’ chart.
GUARANTY (+2.12%) was the most actively traded stock with about 51million units of shares worth about N977million.
Sector Performance
- NSE Banking Index: Gained 1.22%, as a result of the buy-interests in UBN (+4.62%), FCMB (+4.58%), WEMABANK (+3.33%), GUARANTY (+2.12%) and JAIZBANK (+1.82%).
- NSE Industrial Index: Closed down by 0.56%, due to negative sentiments towards WAPCO (-1.71%) and DANGCEM (-1.14%).
- NSE Consumer Goods Index: Was down by 0.29%, due to the loss in INTBREW (-4.00%)
- NSE Oil & Gas Index: Closed Flat.
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 6.20 | -2.36% | -7.46% |
2 | DANGCEM | 130.00 | -1.14% | -4.41% |
3 | FBNH | 4.35 | -2.25% | -7.45% |
4 | FIDELITYBK | 1.82 | 1.11% | -10.78% |
5 | GUARANTY | 19.30 | 2.12% | -7.21% |
6 | MTNN | 104.00 | 4.00% | 2.46% |
7 | UBA | 5.90 | -0.84% | -1.67% |
8 | SEPLAT | 494.40 | 0.00% | -0.12% |
9 | ZENITHBANK | 14.05 | 1.08% | -6.33% |
10 | OKOMUOIL | 55.05 | 0.00% | 0.00% |
The equities market closed up today due to positive sentiments in Banking names. 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.
