May 4, 2020/InvestmentOne Report
The Nigerian equities market closed up today as NSE-ASI gained 0.30% to close at 23,089.86pts.
In today’s trade, market breadth index was negative with 19 losers against 15 gainers.
PRESTIGE (+10.00%) was the top gainer while NEM (-10.00%) led the losers’ chart.
GUARANTY was the most actively traded stock with about 45million units of shares worth about N935million.
Sector Performance
· NSE Oil & Gas Index: Increased by 0.65%, on the back of the rise in ARDOVA (+9.96%) and OANDO (+1.21%).
· NSE Consumer Goods Index: Was up by 0.15%, due to the gains in DANGSUGAR (+2.81%) and VITAFOAM (+3.83%).
· NSE Industrial Index: Fell by 1.31%, due to negative sentiment towards WAPCO (-4.63%).
· NSE Banking Index: Lost 1.21%, as a result of the sell-offs in ACCESS (-7.58%), FCMB (-5.23%), FIDELITYBK (-5.03%) and UBA (-4.13%).
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 6.10 | -7.58% | -7.58% |
2 | DANGCEM | 130.00 | 0.00% | 0.00% |
3 | FBNH | 4.60 | 0.00% | 0.00% |
4 | FIDELITYBK | 1.70 | -5.03% | -5.03% |
5 | GUARANTY | 21.00 | 0.00% | 0.00% |
6 | MTNN | 116.00 | 3.57% | 3.57% |
7 | UBA | 5.80 | -4.13% | -4.13% |
8 | SEPLAT | 494.40 | 0.00% | 0.00% |
9 | ZENITHBANK | 14.35 | 0.35% | 0.35% |
10 | OKOMUOIL | 55.05 | 0.00% | 0.00% |
The equities market closed up today due to positive sentiments in Oil & Gas and Consumer Goods sectors as well as MTNN. 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.
