May 24, 2023/InvestmentOne Report
The local equities market closed northwards as the NGX-ASI rose by 0.58% to settle at 52,927.60pts.
In today’s trade, market breadth index was majorly positive with 36 gainers against 17 losers.
NESTLE (+9.98%) was the top gainer today, while CHELLARAM (-9.82%) led the losers.
ACCESSCORP (+6.19%) was the most actively traded stock with about 69 million units of shares worth about N756 million.
Sector Performances
· NGX Oil and Gas Index: Increased by 2.54%, due to the gains recorded in TOTAL (+7.13%) and SEPLAT (+2.13%).
· NGX Consumer Goods Index: Rose by 2.07%, caused by the increase in prices of NESTLE (+9.98%), UNILEVER (+6.80%) and HONYFLOUR (+1.38%).
· NGX Banking Index: Advanced by 1.06%, driven by the gains printed in ACCESSCORP (+6.19%), UBA (+3.57%) and STERLINGNG (+2.86%).
· NGX Industrial Index: Climbed by 0.23%, on the back of the positive sentiment observed in TRIPPLEG (+9.88%), BERGER (+5.92%) and WAPCO (+4.48%).
Performance of key stocks
S/N | Stock | Current Price (N) | 1-day change (%) | Week to date change (%) | Year to date change (%) |
1 | ACCESSCORP | 11.15 | 6.19% | 9.31% | 31.18% |
2 | FBNH | 13.55 | 0.00% | 8.40% | 24.31% |
3 | FIDELITYBK | 5.50 | -2.65% | 0.00% | 26.44% |
4 | GTCO | 27.30 | -1.44% | 2.63% | 18.70% |
5 | UBA | 8.70 | 3.57% | 4.19% | 14.47% |
6 | ZENITHBANK | 26.75 | -0.93% | 2.88% | 11.46% |
7 | AIRTELAFRI | 1175.00 | 0.00% | 0.00% | -28.13% |
8 | BUACEMENT | 90.00 | 0.00% | 0.00% | -7.93% |
9 | DANGCEM | 270.00 | 0.00% | 0.00% | 3.45% |
10 | MTNN | 231.00 | 0.00% | 0.87% | 7.44% |
11 | OKOMUOIL | 171.50 | 0.00% | 0.00% | 3.94% |
12 | SEPLAT | 1200.00 | 2.13% | 2.13% | 9.09% |
The local bourse continued its bullish run driven by the positive sentiments seen across major sectors. Going forward, we expect investor’s sentiments to be swayed by the search for real positive returns and developments in the interest rate space. We reiterate that this may be a great period to pick up some quality names with a medium to long-term investment horizon.
Please click here to download today’s price list.
