January 15, 2018/InvestmentOne Research

The Nigeria equities market closed today on a positive note, as NSE-ASI appreciated by +0.51%. 

Also, Market breadth index was flat with 26 stocks gaining against 26 stocks that declined.  

FCMB (+9.84%) topped the gainers’ table while ETERNA (-6.82%) had the worst performance. 

TRANSCORP was the most actively traded stock with c.194million units of shares worth c.N400m.

Sector Performance  

·         NSE Banking Index: Gained +1.06%, following the advancement in ZENITHBANK (+2.37%), GUARANTY (+2.24%), FCMB (+9.84%), FIDELITY (+5.00%) and FBNH (+0.78%). 

·         NSE Industrial Index: Shed -1.56%, largely driven by the loss in WAPCO (-4.99%). 

·         NSE Oil and Gas Index: Declined by -0.80%, on the back of the losses in  FO (-4.69%) and ETERNA (-6.82%). 

·         NSE Consumer Goods Index: The decline in NB (-1.30%), DANGSUGAR (-4.56%) and FLOURMILL (-4.31%) drove the sector to close down by -0.05%. 

Earnings Release 

NIL.

Market Insight 

The NSE-ASI printed in positive territory today, largely on account of the gains in DANGCEM and some Banking names, despite the profit taking we saw in selective Consumer and Oil and Gas stocks. Going forward, we highlight the potential for further profit taking, which may drive the market to a negative close. However, this may present a decent entry opportunity into our recommended names in anticipation of the release of full year results later this quarter. 

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