January 8, 2018/InvestmentOne Report

The Nigeria equities market began the week on a bullish note, gaining +2.38% in today’s trading session. 

Also, Market breadth index ended positive with 37 gainers against 9 decliners. 

CONOIL (+10.24%) topped the gainers’ chart while VITAFOAM (-4.92%) had the worst performance. 

TRANSCORP (+4.12%) was the most actively traded stock with c.115million units of shares worth c.N203m. 

Sector Performance  

·         NSE Banking Index: Performance surged by +2.05%, largely on account of GUARANTY (+2.33%), ZENITHBANK (+2.54%), FBNH (+3.45%), ETI (+2.84%) and UBA (+0.91%) 

·         NSE Industrial Index: Rose by +2.28% on the back of the gains in DANGCEM (+5.00%). 

·         NSE Oil and Gas Index: Gained +1.68% following the gains in CONOIL (+10.24%), ETERNA (+4.88%) and FO (+3.26%). 

·         NSE Consumer Goods Index: Closed up +1.06% following the gains in  NB (+1.38%), UNILEVER (+2.75%), GUINNESS (+4.60%), PZ (+5.00%) and DANGFLOUR (+5.00%). 

Earnings Release 

NIL.

Market Insight 

The equities market was bullish today, with the advancement in NSE-ASI largely driven by the gains across all major sectors. While we highlight the potential for profit taking, given the performance of the market in recent times, we see this as a decent entry opportunity into our recommended names in anticipation of the release of full year results in Q1 2018. 

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