July 28, 2020/InvestmentOne Report
The Nigerian equities market closed down today as NSE-ASI lost 0.54% to close at 24,650.16pts.
Similarly, the market breadth index was negative with 17 losers against 14 gainers.
TOTAL (-9.95%) led the loser’s chart today, while MBENEFIT (+10.00%) was the top gainer.
MBENEFIT (+10.00%) was the most actively traded stock with about 26million units of shares worth about N5million.
Sector Performances
- NSE Oil & Gas Index: Closed down by 5.20%, due to negative sentiments in TOTAL (-9.95%) and SEPLAT (-9.82%).
- NSE Banking Index: Decreased by 0.45%, due to the sell-offs in NPFMCRFBK (-7.75%), JAIZBANK (-5.00%), GUARANTY (-3.00%) and ETI (-1.16%).
- NSE Consumer Goods Index: Lost 0.13%, due to the declines in PZ (-3.70%), GUINNESS (-1.82%), INTBREW (-1.49%) and CADBURY (-1.49%).
- NSE Industrial Index: Closed Flat.
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 6.30 | 0.00% | 1.61% |
2 | DANGCEM | 141.80 | 0.00% | 5.66% |
3 | FBNH | 4.95 | -1.00% | 0.00% |
4 | FIDELITYBK | 1.70 | -1.16% | -1.73% |
5 | GUARANTY | 22.60 | -3.00% | 4.39% |
6 | MTNN | 118.00 | -1.67% | -1.67% |
7 | UBA | 6.15 | 0.00% | 2.50% |
8 | SEPLAT | 282.00 | -9.82% | -18.83% |
9 | ZENITHBANK | 16.35 | 2.83% | 5.48% |
10 | OKOMUOIL | 74.95 | 6.31% | 6.31% |
The equities market closed down today due to the negative sentiment in most 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.
