July 3, 2020/InvestmentOne Report
The Nigerian equities market closed down today as NSE-ASI lost 0.16% to close at 24,336.12pts. Similarly, the market closed down 1.99%WTD.
In today’s trade, market breadth index was negative with 27 losers against 9 gainers.
UACN (-10.00%) led the loser’s chart while IKEJAHOTEL (+9.68%) was the top gainer.
GUARANTY (+0.48%) was the most actively traded stock with about 29million units of shares worth about N607million.
Sector Performances
· NSE Consumer Goods Index: Declined by 1.07%, due to the negative sentiments NB (-5.68%), HONYFLOUR (-4.21%), PZ (-2.50%), NASCON (-1.96%) and FLOURMILL (-0.28%).
· NSE Oil & Gas Index: Fell by 0.13%, as a result of the sell-offs in JAPAULOIL (-4.35%), ARDOVA (-1.27%) and OANDO (-0.87%).
· NSE Industrial Index: Was down by 0.04%, due to the loss in WAPCO (-0.96%).
· NSE Banking Index: Rose by 0.32%, due to the buy-interests in WEMABANK (+5.77%), UNITYBNK (+4.00%), ZENITHBANK (+3.04%), FCMB (+2.27%) and FIDELITYBK (+1.21%).
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 6.35 | -2.31% | -3.79% |
2 | DANGCEM | 127.00 | 0.00% | -0.78% |
3 | FBNH | 5.05 | -0.98% | -2.88% |
4 | FIDELITYBK | 1.67 | 1.21% | -6.18% |
5 | GUARANTY | 20.80 | 0.48% | -8.37% |
6 | MTNN | 116.00 | 0.00% | -1.28% |
7 | UBA | 6.05 | -1.63% | -5.47% |
8 | SEPLAT | 386.00 | 0.00% | 0.00% |
9 | ZENITHBANK | 15.25 | 3.04% | -5.86% |
10 | OKOMUOIL | 77.40 | 0.00% | 20.94% |
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.
