December 12, 2017/InvestmentOne Report

The NSE-ASI reversed its negative close in the previous session, gaining marginally by +0.03% in today’s trading session. 

Similar to yesterday, market breadth index ended negative as 23 stocks declined against 21 stocks that gained. 

The market’s best performer was UBN (+10.01%) while FCMB (-4.69%) topped the losers’ chart. 

DANGCEM (+0.04%) was the most actively traded stock with c.95million units of shares worth c.N23bn. 

Sector Performance  

·        NSE Banking Index: Shed (-0.13%), largely driven by ETI (-3.95%), STANBIC (-1.19%), ACCESS (-1.41%), and UBA (-0.86%) which more than outweighed the gains in UBN (+10.01%) and GUARANTY(+0.60%). 

·         NSE Industrial Index: Declined by (-0.29%), due to the profit taking on INTBREW (-2.90%) and WAPCO (-0.93%) despite the gains in DANGCEM (+0.04%). 

·         NSE Oil and Gas Index: Closed (-0.40%), following the decline in MOBIL (-3.69%). 

·        NSE Consumer Goods Index: Best performer (+0.27%), supported by the gains in NB (+0.22%) and GUINNESS (+1.46%). 

Earnings Release 

NIL 

Market Insight

The equities market was somehow flat today, gaining marginally by +0.03%. Despite profit taking in some Banking names, positive investors’ sentiment towards the Consumer good names drove the market to a positive close. While we highlight the potential for profit taking, given the performance of the market in recent times, we expect the market to continue to maintain its positive trajectory in the near term.

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