MTNN Drags Nigerian Equities Market to Negative Region

February 13, 2020/InvestmentOne Report

The Nigerian equities market closed negative today as NSE-ASI lost 0.05% to close at 27,864.84pts.

In today’s trade, market breadth index was flat with 14 losers against 13 gainers.

LAWUNION (-9.84%) was the top loser today while UCAP (+10.00%) led the gainers’ chart.                                                                                                 

ZENITHBANK (-0.25%) was the most actively traded stock with about 25million units of shares worth about N502million.

Sector Performance 

·         NSE Banking Index: Advanced by 2.09%, due to the buy-interest in GUARANTY (+6.37%), FBNH (+0.84%), STERLNBANK (+0.65%) and ACCESS (+0.51%).

·         NSE Industrial Index: Rose by 0.79%, on the back of the gain BUACEMENT (+1.42%).

·         NSE Consumer Goods Index: Inched up by 0.09%, as a result of the rise in FLOURMILL (+2.22%).

·         NSE Oil & Gas Index: Closed flat.

Performance of key stocks 

S/N

Stock

Current Price (N)

1-day change (%)

Week to date change (%)

1

ACCESS

9.80

0.51%

0.00%

2

DANGCEM

170.00

0.00%

0.00%

3

FBNH

6.00

0.84%

0.00%

4

FIDELITYBK

2.18

0.00%

0.46%

5

GUARANTY

30.85

6.38%

4.58%

6

MTNN

116.00

-3.33%

-0.85%

7

UBA

7.80

0.00%

0.65%

8

SEPLAT

605.00

0.00%

0.00%

9

ZENITHBANK

19.90

-0.25%

0.51%

10

OKOMUOIL

68.00

0.00%

0.00%

The equities market closed down today as a result of the loss in MTNN (-3.33%). 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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