August 27, 2020/InvestmentOne Report
The Nigerian equities market closed down today as NSE-ASI lost 0.10% to close at 25,304.25pts.
Similarly, the market breadth index was negative with 19 losers against 11 gainers.
CHIPLC (-8.11%) led the loser’s chart today, while REDSTAREX (+10.00%) was the top gainer.
UACN was the most actively traded stock with about 111million units of shares worth about N643million.
Sector Performances
· NSE Industrial Index: Was down by 0.37%, due to losses WAPCO (-1.28%) and DANGCEM (-0.59%).
· NSE Banking Index: Declined 0.33%, as a result of the sell-offs in ACCESS(-2.34%), WEMABANK (-1.92%), ETI (-1.25%), STERLNBANK (-0.85%), UBA (-0.78%) and ZENITHBANK (-0.59%).
· NSE Consumer Goods Index: Advanced by 0.52%, due to the positive sentiment recorded in NB (+2.78%), CHAMPION (+2.20%), VITAFOAM (+1.10%), and GUINNESS (+0.65%).
· 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 | 6.25 | -2.34% | -3.85% |
2 | DANGCEM | 134.20 | -0.59% | -0.59% |
3 | FBNH | 5.05 | 0.00% | 1.00% |
4 | FIDELITYBK | 1.78 | -0.56% | -2.20% |
5 | GUARANTY | 25.20 | 0.60% | -0.20% |
6 | MTNN | 117.80 | 0.00% | 0.00% |
7 | UBA | 6.40 | -0.78% | -3.76% |
8 | SEPLAT | 385.00 | 0.00% | 0.00% |
9 | ZENITHBANK | 16.85 | -0.59% | -0.30% |
10 | OKOMUOIL | 79.00 | 0.00% | -1.25% |
The equities market closed down today due to the negative sentiments towards 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 may be one of the best periods to start picking some of the quality names with a medium to long term investment horizon.
