October 7, 2020/InvestmentOne Report
The Nigerian equities market closed down today as NSE-ASI lost 0.95% to close at 28,634.35pts.
In today’s trade, the market breadth index was negative with 31 losers against 21 gainers.
UNILEVER (-9.89%) led the loser’s chart today, while BERGER (+9.84%) was the top gainer.
FBNH (+1.64%) was the most actively traded stock with about 129million units of shares worth about N790million.
Sector Performances
- NSE Banking Index: Lost 3.27%, due to the losses in ETI (-8.89%), ZENITHBANK (-6.01%), STERLNBANK (-5.71%), FCMB (-3.93%), and JAIZBANK (-3.28%).
- NSE Industrial Index: Declined by 0.34%, due to the negative sentiment in WAPCO (-4.27%) and DANGCEM (-0.13%).
- NSE Consumer Goods Index: Fell by 0.10%, as a result of the sell-offs in UNILEVER (-9.89%), GUINNESS (-5.66%), DANGSUGAR (-2.90%), and HONYFLOUR (-1.04%).
- NSE Oil & Gas Index: Increased by 0.24%, on the back of the gains in OANDO (+2.62%) and ARDOVA (+0.39%).
Performance of key stocks
S/N
| Stock
| Current Price (N)
| 1-day change (%)
| Week to date change (%)
|
1
| ACCESS
| 7.55
| -2.58%
| 12.69%
|
2
| DANGCEM
| 158.00
| -0.13%
| 9.72%
|
3
| FBNH
| 6.20
| 1.64%
| 19.23%
|
4
| FIDELITYBK
| 2.10
| 0.00%
| 13.51%
|
5
| GUARANTY
| 31.00
| -1.59%
| 8.77%
|
6
| MTNN
| 140.50
| -1.54%
| 8.08%
|
7
| UBA
| 6.85
| -2.84%
| 10.48%
|
8
| SEPLAT
| 410.00
| 0.00%
| 2.50%
|
9
| ZENITHBANK
| 19.55
| -6.01%
| 8.61%
|
10
| OKOMUOIL
| 80.00
| 0.00%
| 0.00%
|
The equities market closed down today due to the negative 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.
