August 27, 2019/InvestmentOne Report
The Nigerian equities market closed negative today as NSE-ASI lost -0.32% to close at 27,602.77.pts.
In today’s trade, market breadth index was negative with 22 losers against 13 gainers.
SEPLAT (-9.82%) led the loser’s chartwhile PZ (+5.93%) was the top gainertoday.
TRANSCORP (+1.94%) was the most actively traded stock with about 30million units of shares worth about N32million.
Sector Performance
· NSE Oil & Gas Index: Lost 5.80%, due to the declines recorded in SEPLAT (-9.82%) and TOTAL (-8.79%).
· NSE Banking Index: Fell by 1.04%, on the back of the losses witnessed in UNITYBNK(-4.78%), GUARANTY(-3.04%),FBNH (-1.98%), UBA (-1.67%) and STERLNBANK (-0.43%).
· NSE Industrial Index: Was up by 0.08%, driven by the gain in CCNN (+3.57%).
· NSE Consumer Goods Index: Gained 0.03%,due to the buy interestrecorded in NESTLE (+0.65%) and NB (+0.40%).
Market Insight
The equities market closed down today following the losses recorded in DANGCEM, Oil & Gas and Banking. We maintain that investors should take positions in quality names with a medium to long time investment horizon as prices remain attractive at current levels.
