By Paschal IJEH InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian equities market on Monday opened the week on a positive note as the benchmark index (NSE-ASI) gained by 0.93 percent to close at 25,249.90 basis points. 
InvestmentOne update reports that in the session’s trade, market breadth index was positive with 31 gainers compared to 11 losers.
According to the report, insurer, Wapic Insurance Plc with a gain of +10.00 percent led the gainer’s chart while, Japaul Oil & Maritime Services Plc with a loss of -10.00 emerged the worst loser.
FBN Holdings Plc with a gain of +1.85 percent was the most actively traded stock with about 35 million units of shares worth about N188 million.
In terms of sector performance, InvestmentOne update says the Nigerian Stock Exchange (NSE) Industrial index increased by 2.39 percent, due to the gain recorded in the shares of in Bua Cement Plc by +3.75 percent.
In the same vein, the NSE Banking index advanced by 1.09 percent, as a result of the gains in Jaiz Bank Plc and Sterling Bank Plc; both appreciated +7.58 percent and +4.69 percent respectively, while Access Bank Plc and FBN Holdings Plc rose +0.15 percent and +0.10 percent apiece.
The NSE Oil & Gas index was up by 0.24 percent, on the back of buy-interest in the shares of oil marketing major, Oando Plc which gained by +2.27 percent.
Similarly, the NSE Consumer Goods index inched up by 0.04 percent, due to the positive sentiments in Vitafoam Nigeria Plc and topmost brewer, Nigerian Breweries Plc; both appreciated +5.37 percent and +1.19 percent each, while International Breweries Plc and NASCON Allied Industries Plc also gained by +1.06 percent and +0.87 percent respectively.
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 6.80 | 2.26% | 2.26% |
2 | DANGCEM | 139.00 | 0.00% | 0.00% |
3 | FBNH | 5.50 | 1.85% | 1.85% |
4 | FIDELITYBK | 1.81 | 0.00% | 0.00% |
5 | GUARANTY | 24.10 | 0.84% | 0.84% |
6 | MTNN | 118.00 | 1.72% | 1.72% |
7 | UBA | 6.75 | 1.50% | 1.50% |
8 | SEPLAT | 476.40 | 0.00% | 0.00% |
9 | ZENITHBANK | 16.90 | 0.90% | 0.90% |
10 | OKOMUOIL | 64.00 | 0.00% | 0.00% |
Source: InvestmentOne Research
“The equities market closed up due to the positive sentiments 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 may be one of the best periods to start picking some of the quality names with a medium to long term investment horizon,” the report said.
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