October 2, 2020/InvestmentOne Report
The Nigerian equities market closed up today as NSE-ASI gained 0.57% to close at 26,985.77pts. Similarly, the market closed the week up by 2.53%.
In today’s trade, the market breadth index was positive with 19 gainers against 13 losers.
IKEJAHOTEL (+9.78%) led the gainer’s chart today, while LIVESTOCK (-6.67%) was the top loser.
ZENITHBANK (+0.84%) was the most actively traded stock with about 132million units of shares worth about N2.38billion.
Sector Performances
- NSE Banking Index: Gained 1.59%, due to the uptrend in WEMABANK (+1.85%), GUARANTY (+1.60%), and ZENITHBANK (+0.84%).
- NSE Industrial Index: Advanced by 0.45%, due to the positive sentiment in WAPCO (+1.00%) and DANGCEM (+0.77%).
- NSE Consumer Goods Index: Rose by 0.32%, as a result of the buy-interests in DANGSUGAR (+4.03%) and HONYFLOUR (+1.09%).
- NSE Oil & Gas Index: Increased by 0.15%, on the back of the gain in OANDO (+1.78%).
Performance of key stocks
S/N
| Stock
| Current Price (N)
| 1-day change (%)
| Week to date change (%)
|
1
| ACCESS
| 6.70
| 0.00%
| 0.00%
|
2
| DANGCEM
| 144.00
| 0.77%
| 3.60%
|
3
| FBNH
| 5.20
| 0.00%
| 0.97%
|
4
| FIDELITYBK
| 1.85
| 0.00%
| -2.63%
|
5
| GUARANTY
| 28.50
| 1.60%
| 5.56%
|
6
| MTNN
| 130.00
| 0.78%
| 4.84%
|
7
| UBA
| 6.20
| 0.00%
| 1.64%
|
8
| SEPLAT
| 400.00
| 0.00%
| 0.00%
|
9
| ZENITHBANK
| 18.00
| 0.84%
| 4.05%
|
10
| OKOMUOIL
| 80.00
| 0.00%
| 2.56%
|
The equities market closed up today due to the positive sentiment towards all 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.
