October 26, 2017/InvestmentOne Research

The Nigerian equities market declined -0.29% today. 

Market breadth index closed negative today as 19 stocks gained against 27 stocks that declined.  

The best performing stock was NASCON (+10.18%) while NEM (-5.00%) was the top loser.                        

UBA (-0.64%) and GUARANTY (-0.71%) topped the volume (c.90m units of shares ) and value (c.N1.02bn) chart respectively.  

Sector Performance  

·         NSE Banking Index: The index  declined by -0.24%  on the back of losses recorded in GUARANTY (-0.71%) and UBA (-0.64%)

·         NSE Consumer Goods Index: Closed negative -1.04% as a result of the losses in INTBREW (-4.99%) and NB (-3.73%).

·         NSE Insurance Index: Closed down -1.16% driven by the losses in NEM (-5.00%) and MANSARD (-3.50%).

·         NSE Industrial Index: Closed positive  +1.02% driven by uptrend in  VITAFOAM (+4.81%) and WAPCO (+2.89%).

Market Insight 

The ASI closed negative in today’s trading session (c.N4.22bn worth of shares traded) as investors sentiment was fairly weak . Going forward we expect performance in the market to be largely driven further by earnings releases and expectations. While the market continues to experience sell offs on different counters, we see this as good entry into our recommended names.

TOP PICKS: ACCESS, DANGCEM, GUARANTY, NB, NESTLE, UBA & ZENITH BANK