Buy Interests in Banking Names Drive Equities Market up +1.24%

April 7, 2020/InvestmentOne Report

The Nigerian equities market closed positive today as NSE-ASI gained 1.24% to close at 20,925.19pts. 

Similarly, in today’s trade, market breadth index was positive with 24 gainers against 10 losers.

FBNH (+10.00%) was the top gainer while CADBURY (-10.00%) led the losers’ chart.

OMOMORBNK was the most actively traded stock with about 1.10billion units of shares worth about N605million. 

Sector Performance

  • NSE Banking Index: Rose by 3.22%, as a result of the gains in FBNH (+10,00%), STERLNBANK (+9.91%), FIDELITYBK(+9.84%), UNITYBANK (+9.52%) and UBA (+9.00%).
  • NSE Industrial Index:  Was up by 0.30%, due to the buy interest in  WAPCO (+9.69%)
  • NSE Oil & Gas Index: Fell by 0.62%, due to the decline in ARDOVA (-9.78%)
  • NSE Consumer Goods Index:  Shed 0.14%, on the back of the sell-offs in CADBURY (-10.00%), FLOURMILL (-2.33%) and NESTLE (-0.01%).

Performance of key stocks

S/N

Stock

Current Price (N)

1-day change (%)

Week to date change (%)

1

ACCESS

6.60

-0.75%

9.09%

2

DANGCEM

117.00

0.00%

-6.40%

3

FBNH

4.40

10.00%

11.39%

4

FIDELITYBK

2.01

9.84%

18.93%

5

GUARANTY

18.00

0.84%

2.27%

6

MTNN

94.80

3.04%

3.04%

7

UBA

5.45

9.00%

10.10%

8

SEPLAT

490.10

0.00%

-9.99%

9

ZENITHBANK

12.95

7.47%

8.82%

10

OKOMUOIL

55.05

0.00%

0.00%

The equities market closed up today due to the gains recorded in Banking and Industrial sectors. 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 investment horizon.

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