August 7, 2023/InvestmentOne Report
The local bourse rose by 0.21% as the NGX-ASI settled at 65,336.80pts.
In today’s trade, market breadth index was neutral with 25 gainers against 25 losers.
ENAMELWA (+9.86%) was the top gainer today, while OMATEK (-8.82%) led the losers.
STERLINGNG (-3.84%) was the most actively traded stock with about 55 million units of shares worth about N197 million.
Sector Performances
· NGX Banking Index: Increased by 0.81%, driven by the gains recorded in WEMABANK (+9.77%), FIDELITYBK (+2.52%) and ACCESSCORP (+1.17%).
· NGX Oil and Gas Index: Rose by 0.12%, due to the upward price movement observed in ETERNA (+2.61%).
· NGX Consumer Goods Index: Declined by 0.05%, due to the losses observed in DANGSUGAR (-4.64%) and NASCON (-1.57%).
· NGX Industrial Index: Moderated by 0.01%, on the back of the decrease in the prices of TRIPPLEG (-3.98%) and WAPCO (-0.18%).
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) | Year to date change (%) |
1 | ACCESSCORP | 17.30 | 1.17% | 1.17% | 103.53% |
2 | FBNH | 18.00 | -1.64% | -1.64% | 65.14% |
3 | FIDELITYBK | 8.15 | 2.52% | 2.52% | 87.36% |
4 | GTCO | 37.00 | 1.65% | 1.65% | 60.87% |
5 | UBA | 14.30 | 0.70% | 0.70% | 88.16% |
6 | ZENITHBANK | 34.20 | 0.29% | 0.29% | 42.50% |
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 | 1.08% | 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 bourse recorded a positive performance today due to the gains printed in the Banking and Oil/Gas 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.