August 14, 2023/InvestmentOne Report
The Nigerian equities market declined by 0.18% as the NGX-ASI settled at 65,210.49pts.
In today’s trade, market breadth index was slightly negative with 23 losers against 22 gainers.
CORNERST (+9.32%) was the top gainer today, while ETERNA (-9.90%) led the losers.
TRANSCORP (+2.83%) was the most actively traded stock with about 42 million units of shares worth about N168 million.
Sector Performances
· NGX Banking Index: Declined by 1.13%, driven by the bearish sentiment witnessed in ZENITHBANK (-2.57%), UNITYBNK (-2.10%) and UBA (-1.39%).
· NGX Oil and Gas Index: Fell by 0.44%, propelled by the loss printed in ETERNA (-9.90%).
· NGX Consumer Goods Index: Rose by 0.47%, due to the gains recorded in DANGSUGAR (+4.55%) and INTBREW (+4.44%).
· NGX Industrial Index: Inched up by 0.01%, on the back of the increase in the price of 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 | 17.15 | -1.15% | -1.15% | 101.76% |
2 | FBNH | 18.30 | -3.68% | -3.68% | 67.89% |
3 | FIDELITYBK | 7.65 | 0.66% | 0.66% | 75.86% |
4 | GTCO | 37.60 | -0.79% | -0.79% | 63.48% |
5 | UBA | 14.20 | -1.39% | -1.39% | 86.84% |
6 | ZENITHBANK | 34.10 | -2.57% | -2.57% | 42.08% |
7 | AIRTELAFRI | 1319.90 | 0.00% | 0.00% | -19.27% |
8 | BUACEMENT | 96.15 | -2.83% | -2.83% | -1.64% |
9 | DANGCEM | 349.90 | 0.00% | 0.00% | 34.06% |
10 | MTNN | 279.90 | 0.00% | 0.00% | 30.19% |
11 | OKOMUOIL | 250.00 | -5.66% | -5.66% | 51.52% |
12 | SEPLAT | 1693.60 | 0.00% | 0.00% | 53.96% |
The local bourse retraced today due to the losses recorded 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.
