June 15, 2020/InvestmentOne Report
The Nigerian equities market closed down today as NSE-ASI lost by 0.91% to close at 25,954.25pts.
In today’s trade, market breadth index was negative with 25 losers against 16 gainers.
PRESTIGE (-10.00%) led the loser’s chart while FIDSON (+10.00%) was the top gainer.
FBNH (-1.87%) was the most actively traded stock with about 24million units of shares worth about N129million.
Sector Performance
· NSE Banking Index: Fell by 1.93%, as a result of the sell-offs in ETI (-9.32%), UBA (-5.19%), STERLNBANK (-4.08%) and FIDELITYBK (-2.70%).
· NSE Industrial Index: Decreased by 1.44%, on the back of losses in WAPCO (-2.65%) and BUACEMENT (-1.81%).
· NSE Oil & Gas Index: Was down by 0.33%, due to the loss in OANDO (-3.08%).
· NSE Consumer Goods Index: Declined by 0.03%, due to the negative sentiments in INTBREW (-1.06%) and NB (-1.18%).
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 6.75 | -0.74% | -0.74% |
2 | DANGCEM | 139.00 | 0.00% | 0.00% |
3 | FBNH | 5.25 | -1.87% | -1.87% |
4 | FIDELITYBK | 1.80 | -2.70% | -2.70% |
5 | GUARANTY | 23.60 | -1.67% | -1.67% |
6 | MTNN | 116.00 | -1.69% | -1.69% |
7 | UBA | 6.40 | -5.19% | -5.19% |
8 | SEPLAT | 476.40 | 0.00% | 0.00% |
9 | ZENITHBANK | 16.20 | -2.70% | -2.70% |
10 | OKOMUOIL | 67.00 | 0.00% | 0.00% |
The equities market closed down due to the negative 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.
