December 10, 2020/InvestmentOne Report
The Nigerian equities market closed down today as NSE-ASI lost 1.27% to close at 34,577.26pts.
Similarly, market breadth index was negative with 40 losers against 6 gainers.
WAPCO (-10.00%) led the loser’s chart today, while OKOMUOIL (+10.00%) was the top gainer.
GUARANTY (-2.41%) was the most actively traded stock with about 87million units of shares worth about N2.83billion.
Sector Performances
- NSE Banking Index: Closed down by 4.14% on the back of the losses in FIDELITYBK (-9.80%), STERLNBANK (-9.52%), ACCESS (-6.63%) and ZENITHBANK (-6.18%).
- NSE Consumer Goods Index: Shed 1.07%, as a result of the declines in NNFM (-9.88%), GUINNESS (-9.83%), DANGSUGAR (-6.88%) and FLOURMILL (-2.57%).
- NSE Industrial Index: Declined by 0.74% due to the sell-offs in WAPCO (-10.00%) and PORTPAINT (-9.96%).
- NSE Oil & Gas Index: Fell by 0.68%, due to the losses in OANDO (-6.44%) and ARDOVA (-1.14%).
Performance of key stocks
S/N
| Stock
| Current Price (N)
| 1-day change (%)
| Week to date change (%)
|
1
| ACCESS
| 7.75
| -6.63%
| -9.36%
|
2
| DANGCEM
| 199.00
| 0.00%
| 0.00%
|
3
| FBNH
| 6.30
| -10.00%
| -11.27%
|
4
| FIDELITYBK
| 2.30
| -9.80%
| -9.80%
|
5
| GUARANTY
| 32.35
| -2.41%
| -2.71%
|
6
| MTNN
| 155.00
| -0.77%
| -0.77%
|
7
| UBA
| 7.90
| -3.66%
| -3.66%
|
8
| SEPLAT
| 402.30
| 0.00%
| 0.00%
|
9
| ZENITHBANK
| 22.00
| -6.18%
| -8.14%
|
10
| OKOMUOIL
| 88.00
| 10.00%
| 10.00%
|
The equities market closed down today due to the losses in most sectors on the back of investors’ reaction to the spike in rates at the last NTB auction. 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 the equities market still presents decent opportunities for investors chasing positive real return on investments in the medium to long run..
