July 16, 2020/InvestmentOne Report
The Nigerian equities market closed up today as NSE-ASI gained 0.82% to close at 24,330.06pts.
In today’s trade, market breadth index was slightly positive with 17 gainers against 16 losers.
IKEJAHOTEL (+9.80%) led the gainer’s chart while NAHCO (-9.17%) was the top loser.
STERLNBANK (+0.81%) was the most actively traded stock with about 60million units of shares worth about N75million.
Sector Performances
· NSE Banking Index: Rose by 1.01%, due to the buy-interest in UBA (+2.48%), GUARANTY (+2.33%), ZENITHBANK (+1.29%) and STERLNBANK (+0.81%).
· NSE Consumer Goods Index: Declined by 0.53%, due to the negative sentiments in UNILEVER (-5.86%), FLOURMILL (-5.03%) and GUINNESS (-0.71%).
· NSE Oil & Gas Index: Closed down by 0.27%, due to the sell-offs in JAPAULOIL (-4.00%) and OANDO (-3.04%).
· NSE Industrial Index::Closed Flat.
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 6.15 | 0.00% | -3.15% |
2 | DANGCEM | 126.00 | 0.00% | 0.00% |
3 | FBNH | 5.00 | -0.99% | -3.85% |
4 | FIDELITYBK | 1.73 | 0.00% | -3.35% |
5 | GUARANTY | 22.00 | 2.33% | -2.00% |
6 | MTNN | 118.00 | 2.61% | 1.64% |
7 | UBA | 6.20 | 2.48% | -0.80% |
8 | SEPLAT | 386.00 | 0.00% | 0.00% |
9 | ZENITHBANK | 15.75 | 1.29% | -5.69% |
10 | OKOMUOIL | 70.50 | 0.00% | 0.00% |
The equities market closed up due to the positive sentiments in the Banking sector and Telco 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 maybe one of the best periods to start picking some of the quality names with a medium to long term investment horizon.
