July 20, 2020/InvestmentOne Report
The Nigerian equities market closed down today as NSE-ASI lost 0.06% to close at 24,273.42pts.
In today’s trade, market breadth index was negative with 13 losers against 10 gainers.
NEIMETH (-10.00%) led the loser’s chart while GLAXOSMITH (+9.47%) was the top gainer.
SOVRENINS was the most actively traded stock with about 76million units of shares worth about N15million.
Sector Performances
· NSE Banking Index: Closed down by 0.45%, due to the sell-offs in STERLNBANK (-3.20%), ETI (-2.30%), JAIZBNK (-1.79%), ACCESS (-1.61%) and FBNH (-1.00%).
· NSE Industrial Index: Inched down by 0.01%, as a result of the loss in CUTIX (-9.89%).
· NSE Oil & Gas Index: Rose by 0.32%, due to the buy-interest in ARDOVA (+7.73%) and JAPAULOIL (+3.59%).
· NSE Consumer Goods Index: Closed Flat.
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 6.10 | -1.61% | -1.61% |
2 | DANGCEM | 126.00 | 0.00% | 0.00% |
3 | FBNH | 4.95 | -1.00% | -1.00% |
4 | FIDELITYBK | 1.79 | 1.70% | 1.70% |
5 | GUARANTY | 21.50 | 0.00% | 0.00% |
6 | MTNN | 118.00 | 0.00% | 0.00% |
7 | UBA | 6.15 | 0.00% | 0.00% |
8 | SEPLAT | 386.00 | 0.00% | 0.00% |
9 | ZENITHBANK | 15.65 | -0.63% | -0.63% |
10 | OKOMUOIL | 70.50 | 0.00% | 0.00% |
The equities market closed down due to the negative sentiments in the Banking and Industrial 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.
