July 23, 2020/InvestmentOne Report
The Nigerian equities market closed up today as NSE-ASI gained 1.40% to close at 24,512.27pts.
However, market breadth index was flat with 11 gainers against 11 losers.
DANGCEM (+10.00%) led the gainer’s chart while NEIMETH (-6.67%) was the top loser.
FBNH (+1.01%) was the most actively traded stock with about 43million units of shares worth about N211million.
Sector Performances
- NSE Industrial Index: Advanced by 3.26%, as a result of the buy-interest in DANGCEM (+10.00%)
- NSE Consumer Goods Index: Lost 0.23%, due to the decline in DANGSUGAR (-2.50%).
- NSE Banking Index: Decreased by 0.08%, due to the sell-offs in FIDELITYBK (-1.70%), ETI (-1.18%) and UBA (-0.81%).
- NSE Oil & Gas Index: Closed down by 0.04%, due to negative sentiment in OANDO (-0.43%).
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 6.20 | 0.81% | 0.00% |
2 | DANGCEM | 134.20 | 10.00% | 6.51% |
3 | FBNH | 5.00 | 1.01% | 0.00% |
4 | FIDELITYBK | 1.73 | -1.70% | -1.70% |
5 | GUARANTY | 21.50 | -0.23% | 0.00% |
6 | MTNN | 120.00 | 0.84% | 1.69% |
7 | UBA | 6.10 | -0.81% | -0.81% |
8 | SEPLAT | 386.00 | 0.00% | 0.00% |
9 | ZENITHBANK | 15.55 | 0.00% | -1.27% |
10 | OKOMUOIL | 70.50 | 0.00% | 0.00% |
The equities market closed up due to the positive sentiment in DANGCEM. 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.
