January 16, 2018/InvestmentOne Report

The Nigerian equities market sustained its bullish trend today, as NSE-ASI appreciated by +2.17%. 

Also, Market breadth index ended positive today with 46 stocks gaining against 16 stocks that declined.  

FBNH (+10.21%) topped the gainers’ table while HONYFLOUR (-5.98%) had the worst performance. 

ACCESS (+4.19%) was the most actively traded stock with c.158million units of shares worth c.N1.89bn. 

Sector Performance

·         NSE Banking Index: Gained +3.92%, following the advancement in FBNH (+10.21%), STERLNBANK (+10.00%), DIAMONDBNK (+9.96%), UBA (+5.00%) and ZENITHBANK (+4.72%). 

·         NSE Oil and Gas Index: Advanced by +1.13%, on the back of the gains in  MOBIL (+5.00%), ETERNA (+4.88%) and FO (+1.75%). 

·         NSE Consumer Goods Index: The buy interest in DANGSUGAR (+4.98%), GUINNESS (+4.60%) and CHAMPION (+4.17%) drove the sector up by +0.35%. 

·         NSE Industrial Index: Shed -1.41%, largely driven by the loss in WAPCO (-3.37%). 

Earnings Release 

NIL.

Market Insight 

The NSE-ASI printed in positive territory today, largely on account of the gains in Oil & Gas and some Banking names. Going forward, we highlight the potential for 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