June 22, 2020/InvestmentOne Report
The Nigerian equities market closed down today as NSE-ASI lost 0.29% to close at 24,753.92pts.
In today’s trade, market breadth index was negative with 26 losers against 11 gainers.
NEIMETH (-9.74%) led the loser’s chart while JAPAULOIL (+8.70%) was the top gainer.
JAPAULOIL (+8.70%) was the most actively traded stock with about 14million units of shares worth about N3million.
Sector Performance
NSE Industrial Index: Was down by 1.50%, due to the losses in BUACEMENT (-2.27%)
NSE Banking Index: Fell by 0.60%, as a result of the sell-offs in STANBIC (-8.33%), ETI (-2.00%), GUARANTY (-1.73%), JAIZBANK (-1.67%) and FBNH (-0.94%).
NSE Oil & Gas Index: Declined by 0.53%, due to the negative sentiments in ARDOVA (-5.09%) and OANDO (-2.00%).
NSE Consumer Goods Index: Rose by 2.10%, due to the gain NESTLE (+7.72%).
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 6.75 | 0.00% | 0.00% |
2 | DANGCEM | 130.00 | 0.00% | 0.00% |
3 | FBNH | 5.25 | -0.94% | -0.94% |
4 | FIDELITYBK | 1.78 | 0.56% | 0.56% |
5 | GUARANTY | 22.75 | -1.73% | -1.73% |
6 | MTNN | 116.10 | 0.00% | 0.00% |
7 | UBA | 6.35 | -0.78% | -0.78% |
8 | SEPLAT | 428.80 | 0.00% | 0.00% |
9 | ZENITHBANK | 16.15 | 0.00% | 0.00% |
10 | OKOMUOIL | 64.00 | 0.00% | 0.00% |
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.
