June 18, 2020/InvestmentOne Report
The Nigerian equities market closed down today as NSE-ASI lost 0.16% to close at 24,933.41pts.
In today’s trade, market breadth index was slightly negative with 10 losers against 9 gainers.
FIDSON (-9.71%) led the loser’s chart while CILEASING (+9.52%) was the top gainer.
FCMB was the most actively traded stock with about 32million units of shares worth about N56million.
Sector Performance
· NSE Consumer Goods Index: Was down 1.83%, due to the loss in NB (-9.52%).
· NSE Banking Index: Fell by 0.05%, as a result of the sell-offs in JAIZBANK (-9.52%), NPFMCRFBK (-7.28%), UNITYBNK (-5.45%), WEMABANK (-1.67%) and ACCESS (-0.73%).
· NSE Oil & Gas Index: Rose by 0.43%, due to the positive sentiment in OANDO (+4.08%).
· NSE Industrial Index: Closed Flat.
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 6.80 | -0.73% | 0.00% |
2 | DANGCEM | 139.00 | 0.00% | 0.00% |
3 | FBNH | 5.10 | 0.99% | -4.67% |
4 | FIDELITYBK | 1.75 | 0.00% | -5.41% |
5 | GUARANTY | 23.10 | 0.43% | -3.75% |
6 | MTNN | 115.50 | 0.43% | -2.12% |
7 | UBA | 6.40 | 0.00% | -5.19% |
8 | SEPLAT | 428.80 | 0.00% | -9.99% |
9 | ZENITHBANK | 16.15 | 0.00% | -3.00% |
10 | OKOMUOIL | 67.00 | 0.00% | 0.00% |
The equities market closed down due to the negative sentiments in Banking and Consumer names. 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.
