December 19, 2017/InvestmentOne Report

The equities market printed in the red today, as the NSE-ASI shed -0.46% in today’s trading session. 

Market breadth index ended negative as 26 stocks declined  against 15 stocks that gained. 

LIVESTOCK (+4.88%) was the market’s best performer, while CILEASING (-5.00%) topped the losers’ chart. 

TRANSCORP (+2.19%) was the most actively traded stock with c.360million units of shares worth c.N505mn. 

Sector Performance  

·         NSE Industrial Index: Closed down -0.39%, following the loss in DANGCEM (-0.65%). 

·        NSE Consumer Goods Index: Shed -0.24%, largely driven by NB (-0.22%), DANGSUGAR (-4.99%), CADBURY (-3.60%) and DANGFLOUR (-1.48%). 

·        NSE Banking Index: The decline in ETI (-4.00%), FBNH (-1.89%), ZENITHBNK (-0.94%), UBN (-1.77%) and GUARANTY (-0.25%) drove the sector down to -0.68%,  

·         NSE Oil and Gas Index: Ended -0.22%, majorly due to the loss in FO (-2.29%)

Earnings Release 

NIL.

Market Insight 

The equities market was bearish today across most sectors, as profit taking drove NSE-ASI to close down -0.46% largely on account of the sell-off in DANGCEM (-0.65%) and some Banking names. While prices continued to retrace gradually, we maintain our view that the sell-off presents decent entry positions in our recommended names.  

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