June 26, 2020/InvestmentOne Report
The Nigerian equities market closed the week on a positive note as NSE-ASI gained 0.83% to close at 24,829.02pts. However, the market closed somewhat flat for the week with a marginal gain of 0.01%.
In today’s trade, market breadth index was slightly positive with 14 gainers against 13 losers.
AIRTELAFRI (+9.97%) was the top gainer while FIDSON (-9.70%) led the loser’s chart .
GUARANTY was the most actively traded stock with about 38million units of shares worth about N870million.
Sector Performance
· NSE Consumer Goods Index: Advanced by 0.96% on the back of the gains in UACN (+4.76%) and NESTLE (+1.78%).
· NSE Banking Index: Gained 0.64%, as a result of the buy interests in UBA (+1.59%) and ZENITHBANK (+0.31%).
· NSE Oil & Gas Index: Lost 0.45% due to the sell-off in OANDO (-4.00%).
· NSE Industrial Index: Shed 0.35% as a result of the decline in DANGCEM (-1.54%).
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 6.60 | 0.00% | -2.22% |
2 | DANGCEM | 128.00 | -1.54% | -1.54% |
3 | FBNH | 5.20 | -0.95% | -1.89% |
4 | FIDELITYBK | 1.78 | -0.56% | 0.56% |
5 | GUARANTY | 22.70 | 0.00% | -1.94% |
6 | MTNN | 117.50 | 0.00% | 1.21% |
7 | UBA | 6.40 | 1.59% | 0.00% |
8 | SEPLAT | 386.00 | 0.00% | -9.98% |
9 | ZENITHBANK | 16.20 | 0.31% | 0.31% |
10 | OKOMUOIL | 64.00 | 0.00% | 0.00% |
The equities market closed up today due to the gains in AIRTELAFRI (+9.97%), 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.
