April 29, 2020/InvestmentOne Report
The Nigerian equities market closed up today as NSE-ASI gained 0.62% to close at 22,868.40pts.
In today’s trade, market breadth index was slightly positive with 14 gainers against 12 losers.
COURTVILLE (+10.00%) was the top gainer while ETERNA (-9.62%) led the losers’ chart.
FBNH (+3.37%) was the most actively traded stock with about 57million units of shares worth about N257million.
Sector Performance
· NSE Oil & Gas Index: Increased by 0.43% on the back of the rise in ARDOVA (+9.95%).
· NSE Consumer Goods Index: Was up by 0.42%, due to the gain in INTBREW (+4.35%).
· NSE Industrial Index: Rose by 0.26%, due to positive sentiment towards WAPCO (+2.68%).
· NSE Banking Index: Gained 0.22%, as a result of the buy-interests in FBNH (+3.37%), UBA (+1.69%), ACCESS (+1.60%) and GUARANTY (+0.48%).
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 6.35 | 1.60% | 2.42% |
2 | DANGCEM | 130.00 | 0.00% | 0.00% |
3 | FBNH | 4.60 | 3.37% | 5.75% |
4 | FIDELITYBK | 1.82 | 0.00% | 0.00% |
5 | GUARANTY | 21.10 | 0.48% | 9.33% |
6 | MTNN | 107.40 | 2.38% | 3.27% |
7 | UBA | 6.00 | 1.69% | 1.69% |
8 | SEPLAT | 494.40 | 0.00% | 0.00% |
9 | ZENITHBANK | 14.70 | -1.01% | 4.63% |
10 | OKOMUOIL | 55.05 | 0.00% | 0.00% |
The equities market closed up today due to positive sentiments 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 maybe one of the best periods to start picking some of the quality names with a medium to long term investment horizon.
