Investors Take Profit as Local Stock Market Declines by 1.18%

L – R shows: Jude Chiemeka, Head, Trading Business Division, The Nigerian Stock Exchange (NSE); Oscar N. Onyema, OON, Chief Executive Officer, NSE; Bola Adeeko, Head, Shared Services Division, NSE; and Olumide Bolumole, Head, Listings Business Division, NSE at the NSE 2019 Market Recap and 2020 Outlook session which held at The Exchange, Lagos on Monday, 13 January 2020.

January 14, 2020/InvestmentOne Report

The Nigerian equities market closed negative today as NSE-ASI lost 1.18% to close at 29,283.15pts.

Similarly, market breadth index was negative with 23 losers against 13 gainers.

BETAGLAS (+9.67%) was the top gainer today while TOURIST (-10.00%) led the losers’ chart.                                                                                                 

UNIONDAC (+5.00%) was the most actively traded stock with about 340million units of shares worth about N71million. 

Sector Performance 

·         NSE Consumer Goods Index: Declined by 1.65%, on the back of the loss in NB (-8.83%).

·         NSE Banking Index: Shed 1.07%, as result of the declines in FIDELITYBK (-6.67%), UBA (-5.17%), ZENITHBANK (-1.84%) and ACCESS (-0.47%).

·         NSE Industrial Index: Lost 0.29%, due to the sell-offs in DANGCEM (-1.16%) and BUACEMENT (-0.13%).

·         NSE Oil & Gas Index: Fell by 0.19%, on the back of the decline in OANDO (-3.80%). 

Performance of key stocks 

S/N

Stock

Current Price (N)

1-day change (%)

Week to date change (%)

1

ACCESS

10.50

-0.47%

-2.78%

2

DANGCEM

170.00

-1.16%

-1.16%

3

FBNH

7.00

-3.45%

-8.50%

4

FIDELITYBK

2.10

-6.67%

-7.08%

5

GUARANTY

31.60

0.32%

-1.10%

6

MTNN

124.20

-2.66%

7.07%

7

UBA

8.25

-5.17%

-1.79%

8

SEPLAT

588.00

0.00%

-0.25%

9

ZENITHBANK

21.30

-1.84%

-2.52%

10

OKOMUOIL

66.00

0.00%

0.00%

The equities market closed down today as result of the profit taking in most sectors. We still maintain our view 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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