March 7, 2023/InvestmentOne Report
The Nigerian bourse closed flat as the NGX-ASI settled at 55,603.94pts.
In today’s trade, market breadth index was broadly negative with 22 losers against 10 gainers.
MRS(-10.00%) led the losers, while CAVERTON (+9.62%) was the top gainer today.
TRANSCORP was the most actively traded stock with about 14 million units of shares worth about N18 million.
Sector Performances
- NGX Banking Index: Declined by 1.03%, driven by the bearish performances seen in UNITYBNK (-8.47%), STERLNBANK (-2.60%) and UBA (-1.72%).
- NGX Oil and Gas Index: Decreased by 0.42%, due to the sell-off seen in MRS (-10.00%).
- NGX Consumer Goods Index: Fell by 0.05%, on the back of losses recorded in HONYFLOUR (-6.41%) and DANGSUGAR (-0.26%).
- NGX Industrial Index: Advanced by 0.33%, driven by the bullish performance recorded in DANGCEM (+0.72%).
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) | Year to date change (%) |
1 | ACCESSCORP | 9.15 | -1.61% | -2.14% | 7.65% |
2 | FBNH | 11.20 | -2.61% | -3.86% | 2.75% |
3 | FIDELITYBK | 5.20 | 1.17% | 1.17% | 19.54% |
4 | GTCO | 26.20 | -0.38% | -1.13% | 13.91% |
5 | UBA | 8.55 | -1.72% | -0.58% | 12.50% |
6 | ZENITHBANK | 25.95 | -1.33% | -2.44% | 8.13% |
7 | AIRTELAFRI | 1548.70 | 0.00% | 0.00% | -5.28% |
8 | BUACEMENT | 99.45 | 0.00% | 0.00% | 1.74% |
9 | DANGCEM | 280.00 | 0.72% | 0.72% | 7.28% |
10 | MTNN | 248.00 | 0.00% | 1.22% | 15.35% |
11 | OKOMUOIL | 183.50 | 0.00% | 1.27% | 11.21% |
12 | SEPLAT | 1200.00 | 0.00% | 0.00% | 9.09% |
The local equities market recorded a flat performance today due to the losses recorded across major sectors. Going forward, we expect investor’s sentiments to be swayed by the search for real positive returns and developments in the interest rate space. We reiterate that this may be a great period to pick up some quality names with a medium to long-term investment horizon.
