November 23, 2017/InvestmentOne Report

Market was bullish today as the NSE-ASI closed today’s trading session on a positive note, gaining +0.22%. 

CUSTODYINS (+4.99%)  was the top gainer, while PZ (-4.99%) was the worst performer.  

Market breadth index was positive as 29 stocks gained against 11 stocks that declined.

UBA (+1.03%) was the most actively traded stock with c.116m units of shares while ZENITHBANK (+1.83%) topped the market in terms of value with c.N2.2bn.  

Sector Performance  

·         NSE Banking Index: Rose +0.77% following the gains recorded in ZENITHBANK (+1.83%), ACCESS (+2.46%) and UBA(+1.03%). 

·         NSE Consumer Goods Index: Inched up +0.35%  on account of rise in INTBREW (+4.13%) and DANGSUGAR (+2.46%)._ 

·         NSE Industrial Index: Shed -0.05% on the back of losses in CCNN (-3.24%). 

·         NSE Oil and Gas Index: Closed positive +0.49% as SEPLAT (+1.02%) closed in the green. 

Earnings Release

NIL

Market Insight 

The Nigerian bourse closed in the green today, following the gains in some bellwether stocks. This said, we expect the market to trade sideways in the near term owing to absence of any major positive catalyst. However, we remain optimistic on our recommended names and advise entry into them ahead of the release of 2017 full year audited numbers. 

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