June 10, 2020/InvestmentOne Report
The Nigerian equities market closed down today as NSE-ASI lost by 0.47% to close at 25,215.04pts.
In today’s trade, market breadth index was slightly negative with 19 losers against 18 gainers.
BERGER (+10.00%) led the gainer’s chart while CILEASING (-9.43%) was the top loser.
GUARANTY (+0.62%) was the most actively traded stock with about 69million units of shares worth about N1.68billion.
Sector Performance
· NSE Industrial Index: Decreased by 2.54%, on the back of losses in CUTIX (-5.33%) and BUACEMENT (-3.94%).
· NSE Consumer Goods Index: Declined by 0.27%, due to the negative sentiments in GUINNESS (-2.78%), HONYFLOUR (-2.02%), VITAFOAM (-1.75%) and INTBREW (-1.05%).
· NSE Banking Index: Fell by 0.14%, as a result of the sell-offs in ZENITHBANK (-1.78%), JAIZBANK (-1.49%), ETI (-0.90%) and STANBIC (-0.60%).
· NSE Oil & Gas Index: Was up by 0.20%, due to the gain in OANDO (+2.75%).
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 6.75 | 0.00% | 1.50% |
2 | DANGCEM | 139.00 | 0.00% | 0.00% |
3 | FBNH | 5.35 | 0.00% | -0.93% |
4 | FIDELITYBK | 1.87 | 3.31% | 3.31% |
5 | GUARANTY | 24.20 | 0.62% | 1.26% |
6 | MTNN | 118.00 | 0.00% | 1.72% |
7 | UBA | 6.80 | 0.00% | 2.26% |
8 | SEPLAT | 476.40 | 0.00% | 0.00% |
9 | ZENITHBANK | 16.60 | -1.78% | -0.90% |
10 | OKOMUOIL | 67.00 | 4.69% | 4.69% |
Source: InvestmentOne Research
The equities market closed down due to the negative sentiments 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.
