September 22, 2020/InvestmentOne Report
The Nigerian equities market closed up today as NSE-ASI gained 0.31% to close at 25,654.90pts.
In today’s trade, the market breadth index was negative with 17 losers against 9 gainers.
REDSTAREX (+9.80%) led the gainer’s chart today, while UBN (-6.54%) was the top loser.
ZENITHBANK (-0.30%) was the most actively traded stock with about 46million units of shares worth about N766million.
Sector Performances
· NSE Banking Index: Decreased by 0.60%, due to the losses in STERLNBANK (-0.85%) and ACCESS (-0.78%).
· NSE Oil & Gas Index: Was down by 0.15%, as a result of the sell-off in OANDO (-1.74%)
· NSE Industrial Index: Declined by 0.11%, due to the negative sentiment in DANGCEM (-0.22%).
· NSE Consumer Goods Index: Fell by 0.10%, as a result of the losses in INTBREW (-2.94%) and HONYFLOUR (-2.17%).
Performance of key stocks
S/N
| Stock
| Current Price (N)
| 1-day change (%)
| Week to date change (%)
|
1
| ACCESS
| 6.35
| -0.78%
| -1.55%
|
2
| DANGCEM
| 134.70
| -0.22%
| -0.22%
|
3
| FBNH
| 5.00
| 2.04%
| 1.01%
|
4
| FIDELITYBK
| 1.77
| 0.00%
| -0.56%
|
5
| GUARANTY
| 25.40
| 0.00%
| 0.20%
|
6
| MTNN
| 123.00
| 2.41%
| 2.50%
|
7
| UBA
| 6.00
| 0.00%
| 0.00%
|
8
| SEPLAT
| 385.00
| 0.00%
| 0.00%
|
9
| ZENITHBANK
| 16.70
| 0.00%
| 0.00%
|
10
| OKOMUOIL
| 78.00
| 0.00%
| 0.00%
|
The equities market closed up today due to the buy-interest in MTNN. While we believe the risk-off sentiment on the back of weak oil price, as well as the impact of the Coronavirus could continue to weigh in on the 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.
