NSE: Sentiments Remain Weak as ASI Sheds 0.16%

September 10, 2019/InvestmentOne Update

The Nigerian equities market closed negative today as NSE-ASI lost 0.16% to close at 27,047.58pts.

In today’s trade, market breadth index was positive with 18 gainers and 12 losers.                                                                                                                                            THOMASWY (-9.52%) led the loser’s chart while UAC-PROP (+9.26%)was the top gainer today. 

GUARANTY (+1.32%) was the most actively traded stock with about 79million units of shares worth about N2.1billion.

Sector Performance  

·        NSE Consumer Goods Index: Declined by 2.22%, due to the selloff recorded in NESTLE (-4.93%). 

·        NSE Industrial Index: Fell by 1.61%, on the back of the losses in CCNN (-6.61%) and DANGCEM (-0.45%). 

·        NSE Oil & Gas Index: Closed down by 0.19%, due to the loss recorded in FO (-3.45%). 

·        NSE Banking Index: Was lifted by 1.00%, as a result of the buy interests witnessed in ACCESS (+2.21%), GUARANTY (+1.32%), ZENITHBANK (+1.11%) STERLNGBANK (+0.87%) and UBA (+0.82%).

Market Insight

The equities market closed down today due to the losses recorded in the most sectors. We maintain that investors should take positions in quality names with a medium to long time investment horizon as prices remain attractive at current levels.

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