November 16, 2017/InvestmentOne Research

The NSE-ASI bucked its two days losing streak to end today’s trading session in the green , gaining +0.05%.  

BOCGAS (+9.88%) topped the gainers’ chart, while CAVERTON  (-8.97%) was the worst performer. 

Market breadth index closed negative as 16 stocks gained against 26 stocks that declined.  

NB (-0.61%) was the most actively traded stock with c.68m units of shares worth c.N9.5bn. 

Sector Performance  

·         NSE Banking Index: Gains in  ZENITHBANK (+0.38%) and GUARANTY (+1.41%) more than outweighed losses in FBNH (-4.06%) and UBA (-0.84%) to  drive the sector up by +0.64%. 

·         NSE Industrial Index: The sector closed the day flat. 

·         NSE Oil and Gas Index: Shed -0.17% on the back of sell-off in SEPLAT (-1.01%) 

·         NSE Consumer Goods Index: Down -0.08% following sell-off in DANGFLOUR (-2.06%) and NB (-0.61%).  

Earnings Release 

NIL

Market Insight 

After two days of successive decline, the ASI closed the day in the green on the back of investors’ appetite in banking sector heavy weights; ZENITHBANK (+0.38%) and GUARANTY (+1.41%). Going forward, we could see the market remain volatile as investors may continue to react to the recent deletion and reclassification of some Nigerian stocks on the MSCI frontier index.

TOP PICKS: ACCESS, DANGCEM, GUARANTY, NB, NESTLE, UBA & ZENITHBANK