August 8, 2023/InvestmentOne Report
The local bourse fell by 0.04% as the NGX-ASI settled at 65,309.65pts.
In today’s trade, market breadth index was positive with 29 gainers against 24 losers.
GUINNESS (+10.00%) was the top gainer today, while NSLTECH (-10.00%) led the losers.
ACCESSCORP (+1.16%) was the most actively traded stock with about 49 million units of shares worth about N861 million.
Sector Performances
· NGX Oil and Gas Index: Fell by 0.25%, due to the loss printed in ETERNA (-5.08%).
· NGX Consumer Goods Index: Contracted by 0.05%, due to the selloffs observed in NNFM (-9.89%) and CADBURY (-6.16%).
· NGX Industrial Index: Declined by 0.05%, on the back of the decrease in the price of WAPCO (-0.89%).
· NGX Banking Index: Increased by 0.61%, driven by the gains recorded in JAIZBANK (+4.40%), ZENITHBANK (+2.34%) and ACCESSCORP (+1.16%).
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) | Year to date change (%) |
1 | ACCESSCORP | 17.50 | 1.16% | 2.34% | 105.88% |
2 | FBNH | 18.40 | 2.22% | 0.55% | 68.81% |
3 | FIDELITYBK | 7.90 | -3.07% | -0.63% | 81.61% |
4 | GTCO | 37.50 | 1.35% | 3.02% | 63.04% |
5 | UBA | 14.50 | 1.40% | 2.11% | 90.79% |
6 | ZENITHBANK | 35.00 | 2.34% | 2.64% | 45.83% |
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 | 280.00 | 0.00% | 1.08% | 30.23% |
11 | OKOMUOIL | 265.00 | 0.00% | 0.00% | 60.61% |
12 | SEPLAT | 1693.60 | 0.00% | 0.00% | 53.96% |
The Nigerian exchange recorded a downwards performance today on the back of the losses 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.