August 31, 2020/InvestmentOne Report
The Nigerian equities market closed up today as NSE-ASI inched up by 0.07% to close at 25,327.13pts.
In today’s trade, the market breadth index was negative with 17 losers against 11 gainers.
MOBIL (+10.00%) led the gainer’s chart today, while CILEASING (-10.00%) was the top loser.
UACN (+0.88%) was the most actively traded stock with about 74million units of shares worth about N425million.
Sector Performances
· NSE Oil & Gas Index: Rose by 1.99%, due to the buy-interest in MOBIL (+10.00%).
· NSE Industrial Index: Closed up by 0.55%, due to the gains in BUACEMENT (+0.25%), WAPCO (+3.46%) and DANGCEM (+0.52%).
· NSE Banking Index: Declined by 0.74%, as a result of the sell-offs in JAIZBANK (-3.45%), ACCESS (-3.13%), STERLNBANK (-2.50%) and UBA (-1.57%).
· NSE Consumer Goods Index: Inched down by 0.01%, due to the negative sentiment recorded in GUINNESS (-2.47%).
Performance of key stocks
S/N
| Stock
| Current Price (N)
| 1-day change (%)
| Week to date change (%)
|
1
| ACCESS
| 6.20
| -3.13%
| -3.13%
|
2
| DANGCEM
| 134.90
| 0.52%
| 0.52%
|
3
| FBNH
| 4.90
| -1.01%
| -1.01%
|
4
| FIDELITYBK
| 1.75
| -0.57%
| -0.57%
|
5
| GUARANTY
| 25.50
| 0.39%
| 0.39%
|
6
| MTNN
| 117.80
| 0.00%
| 0.00%
|
7
| UBA
| 6.25
| -1.57%
| -1.57%
|
8
| SEPLAT
| 385.00
| 0.00%
| 0.00%
|
9
| ZENITHBANK
| 16.75
| -0.59%
| -0.59%
|
10
| OKOMUOIL
| 79.00
| 0.00%
| 0.00%
|
The equities market closed up today due to the positive sentiments towards Oil & Gas 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.
