April 17, 2023/InvestmentOne Report
The local bourse declined by 1.49% as the NGX-ASI settled at 51,120.94pts.
In today’s trade, market breadth index was negative with 18 losers against 16 gainers.
CHAMPION (-9.94%) led the losers, while IKEJAHOTEL (+9.48%) was the top gainer today.
TRANSCORP (+9.47%) was the most actively traded stock with about 63 million units of shares worth about N117 million.
Sector Performances
· NGX Banking Index: Declined by 5.53%, on the back of the losses printed in UBA (-7.06%), WEMABANK (-3.68%) and ZENITHBANK (-0.45%).
· NGX Consumer Goods Index: Rose by 0.07%, due to the gains recorded in PZ (+5.00%) and INTBREW (+3.33%).
· NGX Industrial Index: Closed flat.
· 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 | 8.90 | 0.56% | 0.56% | 4.71% |
2 | FBNH | 10.30 | -1.44% | -1.44% | -5.50% |
3 | FIDELITYBK | 5.12 | 0.59% | 0.59% | 17.70% |
4 | GTCO | 25.00 | 2.46% | 2.46% | 8.70% |
5 | UBA | 7.90 | -7.06% | -7.06% | 3.95% |
6 | ZENITHBANK | 22.00 | –0.45% | –0.45% | -8.33% |
7 | AIRTELAFRI | 1198.00 | 0.00% | 0.00% | -26.73% |
8 | BUACEMENT | 97.85 | 0.00% | 0.00% | 0.10% |
9 | DANGCEM | 270.00 | 0.00% | 0.00% | 3.45% |
10 | MTNN | 224.00 | -6.67% | -6.67% | 4.19% |
11 | OKOMUOIL | 183.50 | 0.00% | 0.00% | 11.21% |
12 | SEPLAT | 1150.00 | 0.00% | 0.00% | 4.55% |
The local equities market trended downwards today due to the losses observed in MTNN and the Banking sector. 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.
