Nigerian Equities Market Closes Week on a Bearish Note Down -2.69%

February 14, 2020/InvestmentOne Report

The Nigerian equities market closed negative today as NSE-ASI lost 0.39% to close at 27,755.87pts. Similarly, the market lost 2.69%WTD.

In today’s trade, market breadth index was negative with 19 losers against 9 gainers.

NEIMETH (-10.00%) was the top loser today while CAVERTON (+9.60%) led the gainers’ chart.                                                                                                 

ZENITHBANK (-1.26%) was the most actively traded stock with about 22million units of shares worth about N430million.

Sector Performance 

·        NSE Banking Index: Shed 1.69%, on the back of the sell-offs in NPFMCRFBK (-9.76%), GUARANTY (-3.08%), WEMABANK(-2.99%),  FIDELITYBK (-1.83%) and UBA (-1.28%).

·        NSE Consumer Goods Index: Lost 0.30%, following the decline in GUINESS (-10.00%).

·        NSE Oil & Gas Index: Dropped by 0.19%, majorly driven by the losses in JAPAULOIL (-9.09%) and OANDO (-1.43%).

·        NSE Industrial Index: Closed down by 0.07%, due to the loss in WAPCO (-0.64%). 

Performance of key stocks 

S/N

Stock

Current Price (N)

1-day change (%)

Week to date change (%)

1

ACCESS

9.70

-1.02%

-1.02%

2

DANGCEM

170.00

0.00%

0.00%

3

FBNH

5.95

-0.83%

-0.83%

4

FIDELITYBK

2.14

-1.83%

-1.38%

5

GUARANTY

29.90

-3.08%

1.36%

6

MTNN

116.00

0.00%

-0.85%

7

UBA

7.70

-1.28%

-0.65%

8

SEPLAT

605.00

0.00%

0.00%

9

ZENITHBANK

19.65

-1.26%

-0.76%

10

OKOMUOIL

68.00

0.00%

0.00%

The equities market closed down today due to the losses recorded across all 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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