May 7, 2020/InvestmentOne Report
The Nigerian equities market closed up today as NSE-ASI gained 0.87% to close at 24,354.25pts. 
In today’s trade, market breadth index was slightly positive with 21 gainers against 20 losers.
ROYALEX (+10.00%) was the top gainer while LINKASSURE (–8.33%) led the losers’ chart.
FBNH (-4.08%) was the most actively traded stock with about 116million units of shares worth about N543million.
Sector Performance
· NSE Consumer Goods Index: Was up by 2.37%, due to the gains in PZ (+7.14%), NB (+5.76%), HONYFLOUR (+3.88%), NESTLE (+2.56%) and INTBREW (+2.04%).
· NSE Industrial Index: Rose by 1.96%, due to positive sentiment towards DANGCEM (+4.31%) and BUACEMENT (+1.57%).
· NSE Oil & Gas Index: Increased by 0.57%, on the back of the rise in CONOIL (+9.77%) and ARDOVA (+9.68).
· NSE Banking Index: Lost 1.98%, as a result of the sell-offs in STERLNBANK (-4.55%), FBNH (-4.08%), ZENITHBANK (-3.80%), FCMB (-3.39%), ACCESS (-3.05%) and UNITYBNK (-2.13%).
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 6.35 | -3.05% | -3.79% |
2 | DANGCEM | 150.00 | 4.31% | 15.38% |
3 | FBNH | 4.70 | -4.08% | 2.17% |
4 | FIDELITYBK | 1.81 | 0.00% | 1.12% |
5 | GUARANTY | 22.50 | -1.96% | 7.14% |
6 | MTNN | 120.00 | 0.00% | 7.14% |
7 | UBA | 6.20 | -1.59% | 2.48% |
8 | SEPLAT | 494.40 | 0.00% | 0.00% |
9 | ZENITHBANK | 15.20 | -3.80% | 6.29% |
10 | OKOMUOIL | 55.05 | 0.00% | 0.00% |
The equities market closed up today due to positive sentiment 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 maybe one of the best periods to start picking some of the quality names with a medium to long term investment horizon.
