NSEASI Sheds -0.50%, Dragged by Sell-Offs in Banking Counters

November 19, 2020/InvestmentOne Report

Nigerian Stock Exchange Trading Floor. Image credit: NSE

The Nigerian equities market closed down today as NSE-ASI lost 0.50% to close at 34,643.65pts. 

In today’s trade, market breadth index was negative with 19 gainers against 28 losers .

BOCGAS (+9.90%) led the gainer’s chart today, while PRESCO (-9.97%) was the top loser.

TRANSCORP was the most actively traded stock with about 51million units of shares worth about N54million.

Sector Performances

  • NSE Consumer Goods Index: Advanced by 0.44%, as a result of the buy interests in NB (+4.31%), HONYFLOUR (+3.45%), INTBREW (+0.71%) and GUINNESS (+0.25%). 
  • NSE Industrial Index: Rose by 0.33% due to the gains in PORTPAINT (+8.78%) and WAPCO (+4.15%). 
  • NSE Banking Index:  Declined by 2.66%, due to the profit taking in FIDELITYBK (-7.02%), UBN (-3.39%), GUARANTY (-3.24%) and UBA (-2.87%) . 
  • 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

 

8.70

 

-0.57%

 

-4.92%

 

2

 

DANGCEM

 

195.00

 

0.00%

 

-2.50%

 

3

 

FBNH

 

7.65

 

-1.29%

 

-7.27%

 

4

 

FIDELITYBK

 

2.65

 

-7.02%

 

-8.30%

 

5

 

GUARANTY

 

35.80

 

-3.24%

 

-1.65%

 

6

 

MTNN

 

155.00

 

0.00%

 

0.00%

 

7

 

UBA

 

8.45

 

-2.87%

 

-8.15%

 

8

 

SEPLAT

 

400.70

 

0.00%

 

0.00%

 

9

 

ZENITHBANK

 

26.05

 

-2.43%

 

-4.05%

 

10

 

OKOMUOIL

 

80.00

 

0.00%

 

0.00%

 

The equities market lost today due to the sell-offs in Banking names. 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 the equities market still presents decent opportunities for investors chasing positive real return on investments.

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