July 9, 2020/InvestmentOne Report
The Nigerian equities market closed down today as NSE-ASI lost 0.01% to close at 24,276.56pts.
In today’s trade, market breadth index was negative with 15 losers against 10 gainers.
CONOIL (-10.00%) led the loser’s chart while LAWUNION (+7.00%) was the top gainer.
FIDELITYBK (-0.56%) was the most actively traded stock with about 38million units of shares worth about N69million.
Sector Performances
· NSE Consumer Goods Index: Decreased by 0.64%, due to the negative sentiments VITAFOAM (-9.30%), INTBREW (-8.86%) and DANGSUGAR (-0.86%)
· NSE Oil & Gas Index: Fell by 0.44%, as a result of the sell-off in CONOIL (-10.00%).
· NSE Banking Index: Rose by 0.60%, due to the buy-interests in STERLNBANK (+5.83%), ETI (+3.26%), GUARANTY (+1.11%) and ZENITHBANK (+0.60%).
· NSE Industrial Index: Was up by 0.02%, due to the gain in BUACEMENT (+0.12%).
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 6.35 | -0.78% | 0.00% |
2 | DANGCEM | 126.00 | 0.00% | -0.79% |
3 | FBNH | 5.25 | -0.94% | 3.96% |
4 | FIDELITYBK | 1.79 | -0.56% | 7.19% |
5 | GUARANTY | 22.75 | 1.11% | 9.38% |
6 | MTNN | 115.00 | 0.00% | -0.86% |
7 | UBA | 6.40 | 0.00% | 5.79% |
8 | SEPLAT | 386.00 | 0.00% | 0.00% |
9 | ZENITHBANK | 16.75 | 0.60% | 9.84% |
10 | OKOMUOIL | 70.50 | 0.00% | -8.91% |
The equities market inched down due to the negative sentiments in Consumer Goods and Oil & Gas 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.
