Nigerian Stocks Inch Down -0.03% on Negative Sentiment

September 15, 2020/InvestmentOne Report

Nigerian Stock Exchange Trading Floor. Image credit: NSE

The Nigerian equities market closed down today as NSE-ASI lost 0.03% to close at 25,597.96pts. 

In today’s trade, the market breadth index was negative with 15 losers against 13 gainers.

NPFMCRFBK (-9.42%) led the loser’s chart today, while IKEJAHOTEL (+9.52%) was the top gainer.

FBNH (-1.96%) was the most actively traded stock with about 51million units of shares worth about N257million.

Sector Performances

·         NSE Oil & Gas Index: Fell by 1.16%, due to the losses in OANDO (-5.46%) and SEPLAT (-1.28%)

·         NSE Banking Index: Decreased by 0.18%, as a result of the sell-offs in NPFMCRFBK (-9.42%)FBNH (-1.96%), WEMABANK (-1.89%), and JAIZBANK (-1.67%).  

·         NSE Consumer Goods Index: Declined by 0.10%, due to the negative sentiment in DANGSUGAR (-1.25%).

·         NSE Industrial Index: Advanced by 0.21%, on the back of the gains in WAPCO (+3.45%), and CAP (+1.19%).

   Performance of key stocks

S/N

 

Stock

 

Current Price (N)

 

1-day change (%)

 

Week to date change (%)

 

1

 

ACCESS

 

6.70

 

0.00%

 

-0.74%

 

2

 

DANGCEM

 

135.00

 

0.00%

 

0.75%

 

3

 

FBNH

 

5.00

 

-1.96%

 

-0.99%

 

4

 

FIDELITYBK

 

1.77

 

-1.12%

 

0.57%

 

5

 

GUARANTY

 

25.15

 

0.20%

 

0.60%

 

6

 

MTNN

 

120.00

 

0.00%

 

0.00%

 

7

 

UBA

 

6.15

 

-0.81%

 

-0.81%

 

8

 

SEPLAT

 

385.00

 

-1.28%

 

-1.28%

 

9

 

ZENITHBANK

 

17.20

 

-0.29%

 

0.00%

 

10

 

OKOMUOIL

 

78.00

 

0.00%

 

0.00%

 

The equities market closed down today due to the negative sentiment towards most sectors. While we believe the risk-off sentiment on the back of weak oil price, as well as the impact of the Coronavirus could continue to weigh in on the 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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