August 10. 2020/InvestmentOne Report
The Nigerian equities market closed down today as NSE-ASI lost 0.06% to close at 25,027.61pts.
However, market breadth index was broadly positive with 18 gainers against 11 losers.
CORNERST (+9.09%) led the gainer’s chart today, while CHAMPION (-9.47%) was the top loser.
UNILEVER (+7.14%) was the most actively traded stock with about 17million units of shares worth about N206million.
Sector Performances
· NSE Industrial Index: Closed down 0.41%, as a result of the loss in BUACEMENT (-1.39%).
· NSE Banking Index: Decreased by 0.04%, due to the sell-offs in ETI (-4.71%), JAIZBANK (-1.75%), UBA (-1.53%) and ZENITHBANK (-0.59%).
· NSE Consumer Goods Index: Rose by 0.33%, on the back of the gains in UNILEVER (+7.14%) and GUINNESS (+6.38%) .
· NSE Oil & Gas Index: Advanced by 0.08%, due to positive sentiment in OANDO (+0.85%).
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 6.60 | 1.54% | 1.54% |
2 | DANGCEM | 141.80 | 0.00% | 0.00% |
3 | FBNH | 5.05 | 0.00% | 0.00% |
4 | FIDELITYBK | 1.80 | 0.00% | 0.00% |
5 | GUARANTY | 24.55 | 0.82% | 0.82% |
6 | MTNN | 118.50 | 0.00% | 0.00% |
7 | UBA | 6.45 | -1.53% | -1.53% |
8 | SEPLAT | 350.00 | 0.00% | 0.00% |
9 | ZENITHBANK | 16.80 | -0.59% | -0.59% |
10 | OKOMUOIL | 77.00 | 0.00% | 0.00% |
The equities market closed down today due to the sell-offs in 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.
