September 7, 2020/InvestmentOne Report
The Nigerian equities market closed down today as NSE-ASI lost 0.09% to close at 25,582.23pts.
In today’s trade, the market breadth index was slightly positive with 16 gainers against 15 losers.
HONYFLOUR (-6.25%) led the loser’s chart today, while ETERNA (+9.13%) was the top gainer.
UBA (-2.33%) was the most actively traded stock with about 44million units of shares worth about N292million.
Sector Performances
· NSE Banking Index: Fell by 0.70%, due to the sell-offs in WEMABANK (-3.64%), GUARANTY (-2.54%), UBA (-2.33%), and ZENITHBANK (-0.57%).
· NSE Consumer Goods Index: Closed down by 0.36%, due to the losses in HONYFLOUR (-6.25%), DANGSUGAR (-3.60%) and GUINNESS (-0.35%).
· NSE Oil & Gas Index: Increased by 0.19%, due to the positive sentiment in ETERNA (+9.13%) and OANDO (+2.22%).
· NSE Industrial Index: Inched up by 0.03%, on the back of the gains in CAP (+0.59%) and WAPCO (+0.42%).
Performance of key stocks
S/N
| Stock
| Current Price (N)
| 1-day change (%)
| Week to date change (%)
|
1
| ACCESS
| 6.80
| 5.43%
| 5.43%
|
2
| DANGCEM
| 134.00
| 0.00%
| 0.00%
|
3
| FBNH
| 4.95
| -1.00%
| -1.00%
|
4
| FIDELITYBK
| 1.86
| 0.00%
| 0.00%
|
5
| GUARANTY
| 25.90
| -2.45%
| -2.45%
|
6
| MTNN
| 118.60
| 0.00%
| 0.00%
|
7
| UBA
| 6.30
| -2.33%
| -2.33%
|
8
| SEPLAT
| 400.00
| 0.00%
| 0.00%
|
9
| ZENITHBANK
| 17.30
| -0.57%
| -0.57%
|
10
| OKOMUOIL
| 79.00
| 0.00%
| 0.00%
|
The equities market closed down today due to the negative sentiment towards Banking and Consumer Goods sectors. 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.
