September 8, 2020/InvestmentOne Report
The Nigerian equities market closed down today as NSE-ASI lost 0.33% to close at 25,487.32pts.
In today’s trade, the market breadth index was negative with 19 losers against 10 gainers.
ARBICO (-9.25%) led the loser’s chart today, while HONYFLOUR (+4.44%) was the top gainer.
CUSTODIAN (-1.03%) was the most actively traded stock with about 40million units of shares worth about N193million.
Sector Performances
· NSE Banking Index: Fell by 3.42%, due to the sell-offs in GUARANTY (-6.18%), UNITYBNK (-3.57%), FIDELITYBK (-3.23%), and ZENITHBANK (-2.31%).
· NSE Consumer Goods Index: Increased by 0.43%, due to the positive sentiment in HONYFLOUR (+4.44%) and NB (+2.50%).
· NSE Industrial Index: Inched up by 0.01%, on the back of the gain in CAP (+2.65%).
· 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
| 6.70
| -1.47%
| 3.88%
|
2
| DANGCEM
| 134.00
| 0.00%
| 0.00%
|
3
| FBNH
| 5.05
| 2.02%
| 1.00%
|
4
| FIDELITYBK
| 1.80
| -3.23%
| -3.23%
|
5
| GUARANTY
| 24.30
| -6.18%
| -8.47%
|
6
| MTNN
| 119.50
| 0.76%
| 0.76%
|
7
| UBA
| 6.30
| 0.00%
| -2.33%
|
8
| SEPLAT
| 400.00
| 0.00%
| 0.00%
|
9
| ZENITHBANK
| 16.90
| -2.31%
| -2.87%
|
10
| OKOMUOIL
| 79.00
| 0.00%
| 0.00%
|
The equities market closed down today due to the negative sentiment towards Banking sector. 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.
