May 12, 2020/InvestmentOne Report
The Nigerian equities market closed down today as NSE-ASI lost 1.06% to close at 23,695.90pts.
In today’s trade, market breadth index was slightly negative with 14 gainers against 15 losers.
CAVERTON (-10.00%) was the top loser while NEIMETH (+10.00%) led the gainer’s chart.
FBNH (+1.06%) was the most actively traded stock with about 28million units of shares worth about N134million.
Sector Performance
· NSE Industrial Index: Fell by 1.84%, due to the losses in DANGCEM (-4.33%) and BUACEMENT (-0.94%).
· NSE Banking Index: Lost 0.26%, as a result of the sell-offs in STERLNBANK (-2.34%), UBA (-1.61%) and ACCESS (-0.78%).
· NSE Consumer Goods Index: Was down by 0.02%, due to the decline in GUINNESS (-1.11%).
· 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 | 6.35 | -0.78% | -0.78% |
2 | DANGCEM | 143.50 | -4.33% | -4.33% |
3 | FBNH | 4.75 | 1.06% | 1.06% |
4 | FIDELITYBK | 1.78 | 0.00% | -1.11% |
5 | GUARANTY | 21.00 | 0.00% | -4.33% |
6 | MTNN | 111.60 | -0.36% | -0.36% |
7 | UBA | 6.10 | -1.61% | -1.61% |
8 | SEPLAT | 494.40 | 0.00% | 0.00% |
9 | ZENITHBANK | 15.05 | 0.00% | -2.27% |
10 | OKOMUOIL | 55.05 | 0.00% | 0.00% |
The equities market closed down today due to negative 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.
One Comment