October 8, 2020/InvestmentOne Report
The Nigerian equities market closed down today as NSE-ASI lost 0.31% to close at 28,546.22pts.
However, market breadth index was positive with 26 gainers against 17 losers.
DEAPCAP (-10.00%) led the loser’s chart today, while ETERNA (+10.00%) was the top gainer.
ETERNA (+10.00%) was the most actively traded stock with about 113million units of shares worth about N373million.
Sector Performances
- NSE Industrial Index: Declined by 2.72%, due to the negative sentiment in DANGCEM (-4.75%), CUTIX (-2.82%), and BUACEMENT (-0.84%).
- NSE Consumer Goods Index: Fell by 1.30%, as a result of the sell-offs in NB (-7.07%) and INTBREW (-1.51%).
- NSE Oil & Gas Index: Lost 0.53%, due to declines in CONOIL (-5.57%), JAPAULOIL (-4.76%), ARDOVA (-2.73%) and OANDO (-2.55%).
- NSE Banking Index: Was up by 2.88%, due to the gains in ETI (+8.54%), FCMB (+5.91%), ACCESS (+4.64%), STERLNBANK (+3.79%), and GUARANTY (+3.23%).
Performance of key stocks
S/N
| Stock
| Current Price (N)
| 1-day change (%)
| Week to date change (%)
|
1
| ACCESS
| 7.90
| 4.64%
| 17.91%
|
2
| DANGCEM
| 150.50
| -4.75%
| 4.51%
|
3
| FBNH
| 6.30
| 1.61%
| 21.15%
|
4
| FIDELITYBK
| 2.10
| 0.00%
| 13.51%
|
5
| GUARANTY
| 32.00
| 3.23%
| 12.28%
|
6
| MTNN
| 140.50
| 0.00%
| 8.08%
|
7
| UBA
| 6.90
| 0.73%
| 11.29%
|
8
| SEPLAT
| 410.00
| 0.00%
| 2.50%
|
9
| ZENITHBANK
| 20.10
| 2.81%
| 11.67%
|
10
| OKOMUOIL
| 80.00
| 0.00%
| 0.00%
|
The equities market closed down today due to the profit taking in 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.
