May 8, 2020/InvestmentOne Report
The Nigerian equities market closed up today as NSE-ASI lost 1.27% to close at 24,045.40pts. However, the market gained 4.45% for the week.
In today’s trade, market breadth index was slightly negative with 15 gainers against 17 losers.
UACPROP (-8.00%) was the top loser while FIDSON (+7.83%) led the gainer’s chart.
FBNH was the most actively traded stock with about 63million units of shares worth about N299million.
Sector Performance
· NSE Industrial Index: Fell by 0.63%, due to the loss in BUACEMENT (-1.24%).
· NSE Banking Index: Lost 0.45%, as a result of the sell-offs in WEMABANK (-3.45%), GUARANTY (-2.44%) and FIDELITYBANK (-0.55%).
· NSE Oil & Gas Index: Declined by 0.41%, on the back of the losses in JAPAULOIL (-4.76%) and OANDO (-3.64%).
· NSE Consumer Goods Index: Was up by 1.28%, due to the gain in NB (+7.45%).
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 6.40 | 0.79% | -3.03% |
2 | DANGCEM | 150.00 | 0.00% | 15.38% |
3 | FBNH | 4.70 | 0.00% | 2.17% |
4 | FIDELITYBK | 1.80 | -0.55% | 0.56% |
5 | GUARANTY | 21.95 | -2.44% | 4.52% |
6 | MTNN | 112.00 | -6.67% | 0.00% |
7 | UBA | 6.20 | 0.00% | 2.48% |
8 | SEPLAT | 494.40 | 0.00% | 0.00% |
9 | ZENITHBANK | 15.40 | 1.32% | 7.69% |
10 | OKOMUOIL | 55.05 | 0.00% | 0.00% |
The equities market closed down today due to profit taking in MTNN(-6.67%) as well as 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.
