Banking, Industrial Sectors Drag Equities Market Down -0.38%

L – R: Shows Mr. Gabriel Idahosa, Vice President, Lagos Chamber of Commerce and Industry (LCCI); Dr. Michael Olawale Cole, CON, Deputy President, LCCI; Mrs. Toki Mabogunje, President, LCCI; Mr. Olumide Bolumole, Head, Listings Business Division, The Nigerian Stock Exchange (NSE); Dr. Mrs. Nike Akande, CON, Past President, LCCI; Mr. Muda Yusuf, Director General, LCCI; and Mr. Jude Chiemeka, Head, Trading Business Division, NSE at the Closing Gong Ceremony during the association’s visit to The Exchange, Lagos on Tuesday, 21 January 2020.

January 21, 2020/InvestmentOne Report

The Nigerian equities market closed negative today as NSE-ASI lost 0.83% to close at 29,462.76pts.

Similarly, market breadth index was negative with 17 losers against 15 gainers.

ARBICO (-9.97%) led the losers’ chart while LAWUNION (+9.09%) was the top gainer today.                                                                                                 

ZENITHBANK (-1.76%) was the most actively traded stock with about 58million units of shares worth about N1.31billion.  

Sector Performance 

·         NSE Banking Index: Fell by 3.58%, on the back of the declines in ACCESS (-6.51%), GUARANTY (-5.29%), FCMB (-4.46%), JAIZBANK (-4.35%) and UBA (-3.95%).

·         NSE Industrial Index: Lost 0.45%, due to the sell-offs in BUACEMENT (-1.49%) and DANGCEM (-1.14%).

·         NSE Consumer Goods Index: Inched up by 0.34%, due to increments in HONYFLOUR (+4.85%) and NB (+1.76%).

·         NSE Oil & Gas Index: Increased by 0.29%, on the back of the gain in OANDO (+2.27%). 

Performance of key stocks

 

S/N

Stock

Current Price (N)

1-day change (%)

Week to date change (%)

1

ACCESS

10.05

-6.51%

-6.94%

2

DANGCEM

173.00

-1.14%

-1.14%

3

FBNH

7.50

0.00%

2.04%

4

FIDELITYBK

2.24

0.00%

0.45%

5

GUARANTY

32.20

-5.29%

-3.88%

6

MTNN

128.50

0.16%

1.50%

7

UBA

8.50

-3.95%

-3.41%

8

SEPLAT

588.00

0.00%

0.00%

9

ZENITHBANK

22.35

-1.76%

0.22%

10

OKOMUOIL

66.00

0.00%

0.00%

The equities market closed down today as a result of the losses recorded in Banking and Industrial 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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