March 16, 2023/InvestmentOme Update
The local bourse recorded further downturn by 1.04% as the NGX-ASI settled at 54,915.61pts.
In today’s trade, market breadth index was predominantly negative with 25 losers against 8 gainers.
CHAMS (+8.70%) was the top gainer, while ETI (-10.00%) led the losers today.
TRANSCORP (-4.44%) was the most actively traded stock with about 26 million units of shares worth about N34 million.
Sector Performances
· NGX Banking Index: Fell by 1.00%, driven by the decline in prices of ETI (-10.00%), ACCESSCORP (-4.44%) and FIDELITYBK (-2.72%).
· NGX Consumer Goods Index: Decreased by 0.17%, on the back of the sell pressure observed in DANGSUGAR (-2.89%) and PZ (-0.93%).
· NGX Industrial Index: Declined by 0.10% due to the losses recorded in CUTIX (-5.12%) and WAPCO (-1.96%).
· NGX Oil and Gas Index: Closed flat.
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) | Year to date change (%) |
1 | ACCESSCORP | 8.60 | -4.44% | -6.01% | 1.18% |
2 | FBNH | 10.70 | -2.73% | -2.73% | -1.83% |
3 | FIDELITYBK | 5.01 | -2.72% | -3.65% | 15.17% |
4 | GTCO | 24.70 | -1.20% | -6.79% | 7.39% |
5 | UBA | 8.00 | 0.00% | -3.03% | 5.26% |
6 | ZENITHBANK | 24.45 | 2.52% | -5.23% | 1.88% |
7 | AIRTELAFRI | 1548.70 | 0.00% | 0.00% | -5.28% |
8 | BUACEMENT | 99.45 | 0.00% | 0.00% | 1.74% |
9 | DANGCEM | 288.00 | 0.00% | 0.00% | 10.34% |
10 | MTNN | 236.00 | -4.95% | -4.95% | 9.77% |
11 | OKOMUOIL | 183.50 | 0.00% | 0.00% | 11.21% |
12 | SEPLAT | 1200.00 | 0.00% | 0.00% | 9.09% |
The Nigerian equities market closed negative today due to the bearish sentiment witnessed 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.
Please click here to download today’s price list.
