July 15, 2020/InvestmentOne Report
The Nigerian equities market inched up today as NSE-ASI gained 0.06% to close at 24,130.26ts.
However, market breadth index was negative with 15 losers against 11 gainers.
JBERGER (-9.88%) led the loser’s chart while SUNUASSUR (+10.00%) was the top gainer.
STERLNBANK (+2.48%) was the most actively traded stock with about 77million units of shares worth about N96million.
Sector Performances
· NSE Banking Index: Rose by 0.37%, due to the buy-interest in STERLNBANK (+2.48%), WEMABANK (+1.89%), GUARANTY (+0.94%) and ACCESS (+0.82%).
· NSE Industrial Index: Inched up by 0.01%, due to the gain in CUTIX (+7.69%).
· NSE Consumer Goods Index: Decreased by 1.39%, due to the negative sentiment in NB (-9.84%), HONYFLOUR (-5.15%), PZ (-3.33%) and FLOURMILL (-0.56%).
· NSE Oil & Gas Index: Closed Flat.
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 6.15 | 0.82% | -3.15% |
2 | DANGCEM | 126.00 | 0.00% | 0.00% |
3 | FBNH | 5.05 | -0.98% | -2.88% |
4 | FIDELITYBK | 1.73 | -0.57% | -3.35% |
5 | GUARANTY | 21.50 | 0.94% | -4.23% |
6 | MTNN | 115.00 | 0.00% | -0.95% |
7 | UBA | 6.05 | 0.00% | -3.20% |
8 | SEPLAT | 386.00 | 0.00% | 0.00% |
9 | ZENITHBANK | 15.55 | -0.32% | -6.89% |
10 | OKOMUOIL | 70.50 | 0.00% | 0.00% |
The equities market closed up due to the positive sentiment in Banking and Industrial 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 maybe one of the best periods to start picking some of the quality names with a medium to long term investment horizon.
