Positive Sentiments Drive Nigerian Stocks to +0.31% Gain

August 4, 2020/InvestmentOne Report

The Nigerian equities market closed up today as NSE-ASI gained 0.31% to close at 24,841.94pts.

In today’s trade, market breadth index was positive with 23 gainers against 10 losers.

MANSARD (+9.72%) led the gainer’s chart today, while CAP (-9.94%) was the top loser.

TRANSCORP was the most actively traded stock with about 13million units of shares worth about N8million.

Sector Performances 

·         NSE Banking Index:  Increased by 1.58%, due to the gains in JAIZBANK (+7.27%), ZENITHBANK (+3.67%), GUARANTY (+1.31%)  and WEMABANK (+1.00%)

·         NSE Oil & Gas Index: Advanced by 0.23%, due to positive sentiment in SEPLAT (+3.48%) and OANDO (+2.17%).

·         NSE Consumer Goods Index: Inched up 0.07%, on the back of the gains in FLOURMILL (+4.00%), and NB (+3.23%).

·         NSE Industrial Index: Declined by 0.03%, as a result of the loss in CAP (-9.94%).

  Performance of key stocks

S/N

Stock

Current Price (N)

1-day change (%)

Week to date change (%)

1

ACCESS

6.35

0.00%

0.79%

2

DANGCEM

141.80

0.00%

0.00%

3

FBNH

5.05

0.00%

1.00%

4

FIDELITYBK

1.70

-0.58%

-0.58%

5

GUARANTY

23.15

1.31%

2.89%

6

MTNN

118.00

0.08%

0.08%

7

UBA

6.30

0.00%

1.61%

8

SEPLAT

321.00

3.48%

3.48%

9

ZENITHBANK

16.95

3.67%

3.99%

10

OKOMUOIL

74.95

0.00%

0.00%

The equities market closed up today due to the positive sentiment in most 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 maybe 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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