July 24, 2023/InvestmentOne Report
The local equities market advanced by 0.41% as the NGX-ASI closed at 65,268.28pts.
In today’s trade, market breadth index was negative with 33 losers against 32 gainers.
FTNCOCOA (+10.00%) was the top gainer today, while IKEJAHOTEL (-10.00%) led the losers.
FBNH (+9.82%) was the most actively traded stock with about 347 million units of shares worth about N7.44 billion.
Sector Performances
· NGX Industrial Index: Inched higher by 0.03%, driven by the buy-ins recorded in BERGER (+0.99%) and WAPCO (+0.52%).
· NGX Consumer Goods Index: Increased by 0.02%, on the back of the gains printed in NASCON (+10.00%), NNFM (+9.64%) and DANGSUGA (+2.59%).
· NGX Banking Index: Fell by 0.83%, due to the losses recorded in WEMABANK (-9.09%), STERLINGNG (-4.04%) and JAIZBANK (-4.04%).
· 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 | 17.95 | -2.18% | -2.18% | 111.18% |
2 | FBNH | 21.80 | 9.82% | 9.82% | 100.00% |
3 | FIDELITYBK | 8.30 | 6.14% | 6.14% | 90.80% |
4 | GTCO | 38.50 | 0.00% | 0.00% | 67.39% |
5 | UBA | 14.80 | -0.67% | -0.67% | 94.74% |
6 | ZENITHBANK | 34.70 | -1.28% | -1.28% | 44.58% |
7 | AIRTELAFRI | 1319.90 | 0.00% | 0.00% | -19.27% |
8 | BUACEMENT | 98.95 | 0.00% | 0.00% | 1.23% |
9 | DANGCEM | 352.00 | 0.00% | 0.00% | 34.87% |
10 | MTNN | 270.00 | 0.00% | 0.00% | 25.58% |
11 | OKOMUOIL | 265.00 | 5.87% | 5.87% | 60.61% |
12 | SEPLAT | 1399.80 | 0.00% | 0.00% | 27.25% |
The Nigerian equities market closed positive today driven by the marginal gains observed in the Industrial and Consumer Goods 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.