January 17, 2018/InvestmentOne Report

For the third consecutive trading session, the Nigerian equities market closed in the green, gaining +1.89%. 

Also, Market breadth index was positive with 40 gainers against 19 decliners. 

CCNN (+10.17%) was the market’s best performer while NASCON (-4.98%) led the losers’ chart. 

TRANSCORP (+9.91%) was the most actively traded stock with c.141million units of shares worth c.N358million. 

Sector Performance  

·         NSE Industrial Index: Advanced by +4.42%, following the gains in DANGCEM (+5.00%), CCNN (+10.17%) and WAPCO (+3.37%).

·         NSE Banking Index: Gained +0.51%, largely driven by DIAMONDBNK (+10.10%), STERLNBANK (+10.00%), FBNH (+7.08%), UBA (+3.17%) and FIDELITYBK (+9.75%). 

·         NSE Oil and Gas Index: Closed up +1.79%, on the back of the gains in  MOBIL (+8.27%) and FO (+1.90%). 

·         NSE Consumer Goods Index: The sell-off in DANGFLOUR (-2.39%), NB (-2.30%) and DANGSUGAR (-1.45%) drove the sector down by -0.64%. 

Earnings Release 

NIL.

Market Insight 

The NSE-ASI closed up following the bullish run cross most sectors today, especially the Industrial heavy weights. 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