Banking, Industrial Sector Drags NSEASI Down -0.14%

March 31, 2020/InvestmentOne Report

The Nigerian equities market closed negative today as NSE-ASI lost 0.14% to close at 21,300.47pts

In today’s trade, market breadth index was negative with 11 losers against 9 gainers.

JAIZBANK (-9.43%) led the losers’ chart while GLAXOSMITH (+10.00%) was the top gainer .

STERLNBANK (-4.17%) was the most actively traded stock with about 303million units of shares worth about N349million.

Sector Performance

  • NSE Banking Index: Fell by 1.12%, on the back of the sell-offs in STERLNBANK (-4.17%), ZENITHBANK (-2.09%), ACCESS (-1.65%), FBNH (-1.25%) and GUARANTY (-1.12%) 
  • NSE Industrial Index: Was Down by 0.09%, as a result of the decline in WAPCO (-1.08%).
  • NSE Consumer Goods Index: Increased by 0.46%, due to the buy-interests in UNILEVER (+4.76%), FLOURMILL (+2.16%) and NB (+0.59%) 
  • 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

5.95

-1.65%

-7.03%

2

DANGCEM

129.70

0.00%

0.00%

3

FBNH

3.95

-1.25%

-2.47%

4

FIDELITYBK

1.78

0.56%

-1.11%

5

GUARANTY

17.70

-1.12%

-4.07%

6

MTNN

90.00

0.00%

-10.00%

7

UBA

5.00

0.00%

-6.54%

8

SEPLAT

544.50

0.00%

0.00%

9

ZENITHBANK

11.70

-2.09%

-7.14%

10

OKOMUOIL

55.05

0.00%

0.00%

The equities market closed down today due to the losses recorded in Banking and Industrial sector. While we believe the risk-off sentiment on the back of weak oil price as well as the impact of Coronavirus could continue to weigh in on equities market, we opine that this may be one of the best periods to start picking some of the quality names with a medium to long term horizon.

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