May 21, 2020/InvestmentOne Report
The Nigerian equities market closed up today as NSE-ASI gained 1.25% to close at 24,758.39pts.
In today’s trade, market breadth index was broadly positive with 29 gainers against 9 losers.
SUNUASSUR (+10.00%) was the top gainer while ARBICO (-9.91%) led the loser’s chart.
ZENITHBANK (+3.03%) was the most actively traded stock with about 57million units of shares worth about N961million.
Sector Performance
· NSE Industrial Index: Increased by 5.72% on the back of the gains in BUACEMENT (+9.88%) and CUTIX (+9.40%).
· NSE Oil & Gas Index: Gained 1.44% due to positive sentiment in MOBIL (+9.95%).
· NSE Banking Index: Gained 1.41%, as a result of the buy-interests in UNITYBNK (+6.00%), FBNH (+3.88%), ZENITHBANK (+3.03%) and ACCESS (+2.29%).
· NSE Consumer Goods Index: Rose by 0.38% due to the gains in UNILEVER (+9.30%), CADBURY (+3.29%), GUINNESS (+3.24%) PZ (+2.17%) and HONYFLOUR (+2.00%).
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 6.70 | 2.29% | 7.20% |
2 | DANGCEM | 150.00 | 0.00% | 4.53% |
3 | FBNH | 5.35 | 3.88% | 8.08% |
4 | FIDELITYBK | 1.87 | 2.19% | 3.89% |
5 | GUARANTY | 24.00 | 0.63% | 6.67% |
6 | MTNN | 111.00 | 0.00% | 1.37% |
7 | UBA | 6.70 | 0.75% | 7.20% |
8 | SEPLAT | 476.40 | 0.00% | 0.00% |
9 | ZENITHBANK | 17.00 | 3.03% | 10.03% |
10 | OKOMUOIL | 64.40 | 0.00% | 16.98% |
The equities market closed up due to the positive sentiment in all 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.
