November 3, 2017/InvestmentOne Research

Nigerian equities gained +0.17% today taking WTD  to return to +1.31%. 

Market breadth index also ended positive as 21 stocks gained against 19 stocks that declined. 

However, UPL (+9.75%) topped the gainers’ chart while PRESCO (-8.34%) was the worst performer.  

FBNH (-0.84%) led the market in terms of volume and value with a total of c.88m units of shares traded worth c.N629m. 

Sector Performance  

·         NSE Banking Index: Closed  down -0.42%  driven by loses in GUARANTY (-1.69%) and UBA (-1.00%) which slightly outweigh the gains in ACCESS (+2.33%) and ZENITHBANK (+0.47%).

·         NSE Consumer Goods Index: Inched up +1.01%  on the back of the gains recorded in NESTLE (+3.20%), PZ ( +5.99%) and FLOURMILL ( +5.28%).

·         NSE Industrial Index: The index rose +1.08% following the gains in WAPCO ( +2.90%).

·         NSE Oil & Gas Index: Closed unchanged as the index remained flat.

Earnings Release

NIL

Market Insight 

The ASI reversed its negative close of -0.03% recorded yesterday to end today’s trading session +0.17%. The market was largely driven by the gains in Consumer names as well as WAPCO. Going forward, we may see investors take profit on recent gains. However, we see the potential sell-off as a good opportunity to take position in our recommended names.

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