August 24, 2020/InvestmentOne Report
The Nigerian equities market closed up today as NSE-ASI inched up by 0.03% to close at 25,229.12pts.
In today’s trade, market breadth index was flat with 15 gainers against 15 losers.
UPL (+9.68%) led the gainer’s chart today, while TRANSCORP (-8.20%) was the top loser.
TRANSCORP (-8.20%) was the most actively traded stock with about 75million units of shares worth about N42million.
Sector Performances
· NSE Consumer Goods Index: Rose by 0.70%, due to the positive sentiment recorded in CHAMPION (+8.97%), UNILEVER (+7.53%), INTBREW (+4.17%), PZ (+3.90%) and GUINNESS (+1.32%).
· NSE Industrial Index: Declined by 0.10%, on the back of the loss in WAPCO (-1.71%).
· NSE Banking Index: Inched down by 0.01%, as a result of the sell-offs in JAIZBANK (-5.00%), NPFMCRFBK (-4.69%), FIDELITYBK (-1.67%), and UBA (-1.52%).
· NSE Oil & Gas Index: Closed Flat.
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) |
1 | ACCESS | 6.50 | 0.00% | 0.00% |
2 | DANGCEM | 135.00 | 0.00% | 0.00% |
3 | FBNH | 5.00 | 0.00% | 0.00% |
4 | FIDELITYBK | 1.77 | -2.75% | -2.75% |
5 | GUARANTY | 25.20 | -0.20% | -0.20% |
6 | MTNN | 117.80 | 0.00% | 0.00% |
7 | UBA | 6.50 | -2.26% | -2.26% |
8 | SEPLAT | 385.00 | 0.00% | 0.00% |
9 | ZENITHBANK | 16.85 | -0.30% | -0.30% |
10 | OKOMUOIL | 79.00 | -1.25% | -1.25% |
The equities market inched up today due to the positive sentiment in Consumer Goods 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 may be one of the best periods to start picking some of the quality names with a medium to long term investment horizon.
