The Nigerian equities market declined -0.15% today. 

Market breadth index closed flat as 23 stocks gained against 23 stocks that declined.  

The best performing stock was CAVERTON (+5.00%) while TOTAL (-5.00%) topped the losers’ chart.                       

FBNH (+0.81%) and DANGCEM (-0.01%) topped as regards to volume (c.76m units of shares ) and value (c.N531mn) respectively.  

Sector Performance  

·         NSE Insurance Index: Closed positive +0.99% driven by the gains in MANSARD (+4.66%). and LINKASSURE (+4.65%).

·         NSE Banking Index: The index  improved by +0.32%  on the back of gains recorded in FBNH (+0.81%) and GUARANTY (+0.72%).

·         NSE Consumer Goods Index: Closed negative -0.76% as a result of the losses in UACN (-5.00%) and INTBREW (-4.98%).

·         NSE Industrial Index: Closed negative  -0.02% driven by the downtrend in  DANGCEM (-0.01%)

Market Insight 

The ASI closed negative in today’s trading session (c.N3.00bn worth of shares traded) as investors sentiment was fairly weak . Going forward we expect performance in the market to be largely driven by investors’ reactions to the results released. 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