November 13, 2017/InvestmentOne Research

The NSE-ASI started the week on a positive note, gaining +0.52% to close the day at 37,312.28ppts 

FO (+8.78%) topped the gainers’ chart, while CILEASING (-4.79%) was the worst performer.  

Market breadth index closed negative as 16 stocks gained against 24 stocks that declined.  

DANGCEM (+3.93%) was the most actively traded stock with c.129m units of shares worth c.N27bn traded.  

Sector Performance  

·         NSE Banking Index: Losses in  GUARANTY (-3.05%) and ZENITH (-0.64%) drove the sector down by -1.55%. 

·         NSE Industrial Index: Gained +2.07% largely due to the cross trade on DANGCEM (+3.93%) 

·         NSE Oil and Gas Index: The buy interest in FO (+8.78%) contributed to the sectors positive close (+0.88%) 

·         NSE Consumer Goods Index: Down -1.29% following sell-off in NB (-3.42%) and INTBREW (-0.64%).  

·         Earnings Release 

NIL

Market Insight 

Today’s market performance was largely driven  by the cross of 128m DANGCEM shares in an off market transaction. Excluding this transaction, the market may have closed negative.  Going forward, we may see the market trade sideways in the absence of any catalyst to drive market activities.

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