September 24, 2020/InvestmentOne Report
The Nigerian equities market closed up today as NSE-ASI gained 0.79% to close at 25,987.14pts.
Similarly, in today’s trade, the market breadth index was positive with 25 gainers against 7 losers.
NB (+10.00%) led the gainer’s chart today, while ARDOVA (-9.65%) was the top loser.
STERLNBANK (+0.87%) was the most actively traded stock with about 72million units of shares worth about N83million.
Sector Performances
· NSE Consumer Goods Index: Rose by 2.09%, as a result of the gains in NB (+10.00%), FLOURMILL (+6.82%), and DANGSUGAR (+2.88%).
· NSE Banking Index: Increased by 1.59%, due to the uptrend in ACCESS (+3.97%), ETI (+2.50%) GUARANTY (+1.96%) and FBNH (+1.00%).
· NSE Industrial Index: Advanced by 0.89%, due to the positive sentiment in WAPCO (+1.54%) and DANGCEM (+0.89%).
· NSE Oil & Gas Index: Declined by 0.18%, as a result of the sell-offs in ARDOVA (-9.65%).
Performance of key stocks
S/N
| Stock
| Current Price (N)
| 1-day change (%)
| Week to date change (%)
|
1
| ACCESS
| 6.55
| 3.97%
| 1.55%
|
2
| DANGCEM
| 135.90
| 0.89%
| 0.67%
|
3
| FBNH
| 5.05
| 1.00%
| 2.02%
|
4
| FIDELITYBK
| 1.85
| 2.78%
| 3.93%
|
5
| GUARANTY
| 26.00
| 1.96%
| 2.56%
|
6
| MTNN
| 124.00
| 0.08%
| 3.33%
|
7
| UBA
| 6.10
| 0.83%
| 1.67%
|
8
| SEPLAT
| 400.00
| 0.00%
| 3.90%
|
9
| ZENITHBANK
| 17.10
| 0.59%
| 2.40%
|
10
| OKOMUOIL
| 78.00
| 0.00%
| 0.00%
|
The equities market closed up today due to the positive sentiments towards most sectors. 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.
