January 9, 2018/InvestmentOne Report

The Nigeria equities market sustained its bullish trend today, gaining +1.29% in today’s trading session. 

Also, market breadth index ended positive with 47 gainers against 7 decliners. 

DANGFLOUR (+10.00%) topped the gainers’ chart while UAC-PROP (-4.72%) had the worst performance. 

DIAMONDBNK (+6.57%) was the most actively traded stock with c.219million units of shares worth c.N441m. 

Sector Performance  

·         NSE Banking Index: Advanced by +2.90%, largely on account of FCMB (+9.05%), DIAMONDBNK (+6.57%), FBNH (+4.90%), ZENITHBANK (+4.86%) and ACCESS (+4.16%). 

·         NSE Industrial Index: Rose by +0.74% on the back of the gains in CCNN (+4.83) and DANGCEM (+1.36%). 

·         NSE Oil and Gas Index: Gained +1.16% following the gains in CONOIL (+5.00%), ETERNA (+4.84%) and SEPLAT (+1.54%). 

·         NSE Consumer Goods Index: Closed down -0.31% following the sell-off in  NESTLE(-3.33%), GLAXOSMITH (-1.36%) and CADBURY (-0.42%). 

Earnings Release 

NIL.

Market Insight 

The equities market was bullish today, with the advancement in NSE-ASI largely driven by the gains in most 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