May 19, 2020/InvestmentOne Report
Please click to download the Market Report for Tuesday 19th May 2020
EQUITY:
· The Nigerian equities market closed up today as NSE-ASI gained 1.09% to close at 24,202.87pts.
· In today’s trade, market breadth index was broadly positive with 29 gainers against 8 losers.
· Today’s performance was mainly due to the gains recorded in CAVERTON (+10.00%), OKOMUOIL (+9.99%), UNILEVER (+9.85%), CILEASING (+9.78%) and CUTIX (+9.56%) which offset the losses recorded in LASACO (-8.00%), NAHCO (-4.51%), WAPIC (-3.33%), INTBREW (-3.00%) and WEMABANK (-1.69%).
· Sector performances were positive today as Banking (+2.08%), Industrial (+0.78%), Consumer Goods (+0.33%) and Oil & Gas (+0.24%) sectors all closed in the green.
· In terms of activity levels, total volume and value rose by 3% and 34% respectively compared to yesterday as investors exchanged over 339million units of shares worth over N3.92billion. ACCESS (+3.12%) was the most actively traded stock with about 81million units of shares worth about N546million.
· The equities market closed positive today on the back of gains recorded across all sectors. While we believe the risk-off sentiment could have caused the recent sell-off in the market, we retain our stance that this may be one of the best periods to pick up some quality names with a medium to long term horizon.
CURRENCY:
· At the IEFX window, while the Naira lost by 0.29% and 0.54% against the EUR and GBP to close at N422.96 and N474.03 respectively, it closed flat against the USD at N386.33.
· At the parallel market, while the Naira closed flat at N465 against the EUR, it lost 1.09% against the USD to close at N460. However, it closed at N540 against the GBP, gaining 0.92%.
· Going forward, we expect the FX market to be dictated by heightened dollar demand and CBN FX policies.
FIXED INCOME:
· Money market rates moved in opposite directions today as Open Buy Back inched up by 13bps to 1.90% while Overnight rate shed 3bps to close at 2.30%.
· The bond market was positive today as yields declined at the short and long end of the curve. While the yields on the 5yr and 7yr benchmark bonds dropped by 10bps and 21bps at 10.02% and 10.75% respectively, the yield on the 10yr benchmark bond closed flat at 11.14%.
· In the near term, we expect market activity to be influenced by liquidity levels and foreign investor participation.
Below are key NSE statistics as at the end of trades:
Current | 24,202.87 | Mkt Cap (N’tr) | 12.61 | |
Previous | 23,941.75 | Vol. Traded (m) | 340 | |
Day Change | 1.09% | Vol. Day Chng. | 3% | |
WTD Return | 1.39% | Val. Traded (N’bn) | 3.92 | |
MTD Return | 5.13% | Val. Day Chng. | 34% | |
YTD Return | -9.83% | No. of Deals | 4,784 | |
YTD High | 29,710.56 | No. of Gainers | 29 | |
YTD Low | 20,669.38 | No. of Losers | 8 | |
52wk High | 31,477.51 | Top Sub Sect. (by Vol.) | BNK (66%) | |
52wk Low | 20,669.38 | Top Sub Sect. (by Val.) | BNK (63%) |
