July 1, 2020/InvestmentOne Report
The Nigerian equities market closed up today as NSE-ASI gained 0.47% to close at 24,549.99pts.
In today’s trade, market breadth index was negative with 22 losers against 12 gainers.
CADBURY (+9.63%) led the gainer’s chart while NEIMETH (-9.70%) was the top loser.
WAPIC (-5.71%) was the most actively traded stock with about 30million units of shares worth about N11million.
Sector Performance
· NSE Industrial Index: Was up by 1.35%, due to the gains in BUACEMENT (+8.53%) and WAPCO (+5.00%).
· NSE Oil & Gas Index: Rose by 0.30%, due to the buy-interests in JAPAULOIL (+9.52%) and OANDO (+3.48%).
· NSE Banking Index: Fell by 0.88%, as a result of the sell-offs in WEMABANK (-3.70%), JAIZBANK (-3.51%), ZENITHBANK (-2.48%), FIDELITYBK (-2.30%) and UNITYBNK (-2.08%).
· NSE Consumer Goods Index: Declined by 0.47%, due to the negative sentiment in GUINNESS (-3.45%), NASCON (-2.86%), DANGSUGAR (-2.50%), INTBREW (-2.44%) and FLOURMILL (-1.84%).
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 6.60 | 0.76% | 0.00% |
2 | DANGCEM | 127.00 | 0.00% | -0.78% |
3 | FBNH | 5.20 | -0.95% | 0.00% |
4 | FIDELITYBK | 1.70 | -2.30% | -4.49% |
5 | GUARANTY | 21.85 | -0.91% | -3.74% |
6 | MTNN | 116.00 | -1.28% | -1.28% |
7 | UBA | 6.20 | -0.80% | -3.13% |
8 | SEPLAT | 386.00 | 0.00% | 0.00% |
9 | ZENITHBANK | 15.70 | -2.48% | -3.09% |
10 | OKOMUOIL | 77.40 | 0.00% | 20.94% |
The equities market closed up due to the positive sentiment in Industrial and Oil & Gas 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.
