August 11, 2020/InvestmentOne Report
The Nigerian equities market closed down today as NSE-ASI lost 0.58% to close at 24,883.70pts.
However, market breadth index was slightly negative with 17 losers against 16 gainers.
PRESTIGE (-10.00%) led the loser’s chart today, while CADBURY (-6.82%) was the top gainer.
ACCESS (-0.76%) was the most actively traded stock with about 29million units of shares worth about N192million.
Sector Performances
· NSE Industrial Index: Declined by 2.16%, as a result of the losses in DANGCEM (-4.09%) and WAPCO (-0.42%).
· NSE Consumer Goods Index: Rose by 0.93%, on the back of the gains in CADBURY (+6.82%) and NB (+6.25%).
· NSE Banking Index: Closed up by 0.52%, due to the buy-interests in ETI (+2.47%), WEMABANK (+1.92%), GUARANTY (+1.02%) and FBNH (+0.99%).
· NSE Oil & Gas Index: Advanced by 0.26%, due to the positive sentiment in ARDOVA (+4.94%).
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 6.55 | -0.76% | 0.77% |
2 | DANGCEM | 136.00 | -4.09% | -4.09% |
3 | FBNH | 5.10 | 0.99% | 0.99% |
4 | FIDELITYBK | 1.80 | 0.00% | 0.00% |
5 | GUARANTY | 24.80 | 1.02% | 1.85% |
6 | MTNN | 118.50 | 0.00% | 0.00% |
7 | UBA | 6.50 | 0.78% | -0.76% |
8 | SEPLAT | 350.00 | 0.00% | 0.00% |
9 | ZENITHBANK | 16.85 | 0.30% | -0.30% |
10 | OKOMUOIL | 77.00 | 0.00% | 0.00% |
The equities market closed down today due to the sell-offs in 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.
