Nigerian Stock Market Dips by 0.75% on Sustained Profit Taking

L – R shows Olumide Bolumole, Head, Listings Business Division, The Nigerian Stock Exchange (NSE) presenting a replica of the Closing Gong to Ganiyu Musa, Group Managing Director/Chief Executive Officer, Cornerstone Insurance Plc during the company’s courtesy visit to The Exchange, Lagos on Wednesday, 15 January 2020.

January 15, 2020/InvestmentOne Report

The Nigerian equities market closed negative today as NSE-ASI lost 0.75% to close at 29,062.50pts.

Similarly, market breadth index was negative with 17 losers against 11 gainers.

BETAGLAS (+10.00%) was the top gainer today while LIVESTOCK (-9.09%) led the losers’ chart.                                                                                                 

MORISON was the most actively traded stock with about 126million units of shares worth about N57million. 

Sector Performance 

·         NSE Industrial Index: Lost 1.30%, due to the sell-off in BUACEMENT (-2.44%).

·         NSE Consumer Goods Index: Declined by 0.21%, on the back of the losses in UACN (-3.17%), DANGSUGAR (-2.03%) and INTBREW (-1.09%).

·         NSE Banking Index: Shed 0.21%, as result of the declines in STERLNBANK (-3.16%), ACCESS (-2.86%) and WEMABANK (-2.74%).

·         NSE Oil & Gas Index: Fell by 0.11%, as a result of the loss in OANDO (-3.95%). 

Performance of key stocks

 

S/N

Stock

Current Price (N)

1-day change (%)

Week to date change (%)

1

ACCESS

10.20

-2.86%

-5.56%

2

DANGCEM

170.00

0.00%

-1.16%

3

FBNH

7.00

0.00%

-8.50%

4

FIDELITYBK

2.18

3.81%

-3.54%

5

GUARANTY

31.80

0.63%

-0.47%

6

MTNN

120.50

-2.98%

3.88%

7

UBA

8.50

3.03%

1.19%

8

SEPLAT

588.00

0.00%

-0.25%

9

ZENITHBANK

21.35

0.23%

-2.29%

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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