July 7, 2020/InvestmentOne Report
The Nigerian equities market closed up today as NSE-ASI gained 0.30% to close at 24,097.48pts.
In today’s trade, market breadth index was slightly negative with 18 losers against 17 gainers.
REDSTREX (+9.76%) led the loser’s chart while OKOMUOIL (-9.95%) was the top gainer.
GUARANTY (+0.24%) was the most actively traded stock with about 20million units of shares worth about N414billion.
Sector Performances
· NSE Banking Index: Rose by 0.92%, due to the buy-interests in STERLNBANK (+4.27%), FCMB (+4.09%), UBA (+2.48%) and WEMABANK (+1.92%).
· NSE Industrial Index: Was up by 0.09%, due to the gain in BUACEMENT (+2.51%).
· NSE Consumer Goods Index: Declined by 0.52%, due to the negative sentiments towards UNILEVER (-9.78%) and NASCON (-5.00%).
· NSE Oil & Gas Index: Fell by 0.02%, as a result of the sell-offs in MRS (-9.78%) and JAPAULOIL (-4.35%).
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 6.20 | 0.00% | -2.36% |
2 | DANGCEM | 126.00 | -0.79% | -0.79% |
3 | FBNH | 5.10 | 0.99% | 0.99% |
4 | FIDELITYBK | 1.70 | 1.80% | 1.80% |
5 | GUARANTY | 21.05 | 0.24% | 1.20% |
6 | MTNN | 115.00 | -0.86% | -0.86% |
7 | UBA | 6.20 | 2.48% | 2.48% |
8 | SEPLAT | 386.00 | 0.00% | 0.00% |
9 | ZENITHBANK | 16.35 | 1.87% | 7.21% |
10 | OKOMUOIL | 69.70 | -9.95% | -9.95% |
The equities market closed up due to the positive sentiments in the Banking and Industrial sectors and Airtel Africa. 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.
