June 1, 2020/InvestmentOne Report
The Nigerian equities market closed up today as NSE-ASI Inched up by 0.19% to close at 25,316.15pts.
In today’s trade, market breadth index was positive with 28 gainers against 10 losers.
JAPAULOIL (+10.00%) led the gainer’s chart while FIDSON (-9.71%) was the top loser.
FBNH (+1.87%) was the most actively traded stock with about 41million units of shares worth about N222million.
Sector Performance
· NSE Banking Index: Increased by 1.28%, as a result of the buy-interests in GUARANTY (+2.29%), FBNH (+1.87%) UBA (+1.50%) and ACCESS (+1.41%).
· NSE Consumer Goods Index: Rose by 1.13%, due to the positive sentiments in DANGSUGAR (+9.69%), VITAFOAM (+7.21%), CADBURY (+2.89%) and NB (+1.62%).
· NSE Industrial Index: Gained 0.54% due to the buy-interest in WAPCO (+0.87%) and BUACEMENT (+0.71%).
· 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 | 7.20 | 1.41% | 1.41% |
2 | DANGCEM | 139.00 | 0.00% | 0.00% |
3 | FBNH | 5.45 | 1.87% | 1.87% |
4 | FIDELITYBK | 1.90 | 1.06% | 1.06% |
5 | GUARANTY | 24.55 | 2.29% | 2.29% |
6 | MTNN | 116.00 | 0.00% | 0.00% |
7 | UBA | 6.75 | 1.50% | 1.50% |
8 | SEPLAT | 476.40 | 0.00% | 0.00% |
9 | ZENITHBANK | 17.05 | 0.89% | 0.89% |
10 | OKOMUOIL | 64.00 | 0.00% | 0.00% |
The equities market closed up due to the 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 may be one of the best periods to start picking some of the quality names with a medium to long term investment horizon.
