January 10, 2018/InvestmentOne Report
The Nigeria equities market sustained its bullish run for the third consecutive trading session, gaining +3.60% today.
Market breadth index, a gauge of investor sentiment, closed positive with 60 gainers against 3 decliners.
CONOIL (+10.23%) topped the gainers’ chart while GUINNESS (-1.76%) had the worst performance.
TRANSCORP (+8.20%) was the most actively traded stock with c.185million units of shares worth c.N365m.
Sector Performance
· NSE Banking Index: Gained +5.33%, following the gains in DIAMONDBNK (+9.95%), ZENITHBANK (+6.73%), GUARANTY (+5.05%) and UBA (+4.60%)
· NSE Industrial Index: Advanced by +3.88% on account of DANGCEM (+4.00%), WAPCO (+4.00%) and CCNN (+4.99%)
· NSE Oil and Gas Index: Closed up +0.92%, largely driven by the gains in CONOIL (+10.23%), ETERNA (+10.17%) and FO (+1.73%).
· NSE Consumer Goods Index: Rose by +2.43% on the back of the gains in NB (+4.29%), DANGFLOUR (+3.90%) and CADBURY (+1.37%).
Earnings Release
NIL.
Market Insight
The equities market continued its bullish run today, driven by the gains across major sectors. However we highlight the potential for profit taking given the performance of the market in recent times. This may present 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