December 21, 2017/InvestmentOne Research
The Nigerian equities market registered its second consecutive gain in the week, as the NSE-ASI closed up +1.10% in today’s trading session.
Market breadth index ended positive as 23 stocks gained against 13 stocks that declined.
BERGER (+4.94%) topped the gainers’ chart, while DANGSUGAR (-5.75%) had the worst performance.
AIICO (-1.92%) was the most actively traded stock with c.211million units of shares worth c.N109m.
Sector Performance
· NSE Industrial Index: Gained +2.21% on the back of the gains in DANGCEM (+3.93%).
· NSE Banking Index: ETI (+4.24%), ACCESS (+1.80%), FBNH (+1.69%), and UBA (+1.07%) drove the sector up +0.69%.
· NSE Oil and Gas Index: Declined by -0.52%, on account of the losses in TOTAL ( -4.78%) which offset the gain in SEPLAT (+0.17%).
· NSE Consumer Goods Index: Closed down -0.82%, largely driven by the decline in NESTLE (-1.99%), NB (-1.08%) and DANGSUGAR (-5.75%) despite the gain in INTBREW (+4.25%).
Earnings Release
NIL.
Market Insight
Performances were mixed across sectors today as NSE-ASI printed in the green majorly on account of the gains in DANGCEM (+3.93%). While profit taking in recent times has seen prices retraced, we maintain our view that this may present a decent entry positions in our recommended names.
TOP PICKS: ACCESS, DANGCEM, GUARANTY, NB, NESTLE, UBA & ZENITHBANK
