Nigerian Equities Market Closes the Week Negative, Dips -1.32%

February 21, 2020/InvestmentOne Report

The Nigerian equities market closed negative today as NSE-ASI lost 0.65% to close at 27,388.62pts. Similarly, the market lost 1.32%WTD.

In today’s trade, market breadth index was negative with 20 losers against 14 gainers.

SKYAVN (-9.97%) was the top today loser while JAIZBANK (+9.52%) led the  gainers’ chart.                                                                                                 

ZENITHBANK (+2.32%) was the most actively traded stock with about 112million units of shares worth about N2.24billion.  

Sector Performance 

·         NSE Consumer Goods Index: Lost 5.39%, following the declines in NESTLE (-9.02%), NB (-5.92%), HONEYFLOUR (-1.94%) and VITAFOAM (-1.10%).

·         NSE Industrial Index: Rose by 0.47%, as a result of the buy interest in BUACEMENT (+1.11%).

·         NSE Banking Index: Advanced by 0.34%, on the back of gains witnessed in UBN (+7.04%), FCMB (+2.63%), ZENITHBANK (+2.32%) and FIDELITY (+0.47%).

·         NSE Oil & Gas Index: Gained by 0.15%, following the increase in OANDO (+1.23%).

Performance of key stocks 

S/N

Stock

Current Price (N)

1-day change (%)

Week to date change (%)

1

ACCESS

9.40

-3.09%

-3.09%

2

DANGCEM

170.00

0.00%

0.00%

3

FBNH

5.75

0.00%

-3.36%

4

FIDELITYBK

2.14

0.47%

0.00%

5

GUARANTY

27.95

-0.18%

-6.52%

6

MTNN

116.00

0.00%

0.00%

7

UBA

7.40

-3.27%

-3.90%

8

SEPLAT

605.00

0.00%

0.00%

9

ZENITHBANK

19.85

2.32%

1.02%

10

OKOMUOIL

68.00

0.00%

0.00%

The equities market closed down today due to the losses recorded in the Consumer names. 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.

Leave a Comment

Your email address will not be published. Required fields are marked *

*