January 19, 2018/InvestmentOne Report
The Nigerian equities market reversed yesterday’s loss to end the last trading day of the week in the green, gaining +0.54%, bringing WTD performance to +5.11%.
However, market breadth index ended negative today with 29 decliners against 21 gainers.
WEMABANK (+9.35%) had the best performance while MAYBAKER (-6.23%) led the losers’ chart.
TRANSCORP (-1.57%) was the most actively traded stock with c.206million units of shares worth c.N515million.
Sector Performance
· NSE Banking Index: Advanced by +2.46%, following the gains in GUARANTY (+4.99%), ZENITHBANK(+2.17%), ACCESS (+0.80%), DIAMONDBNK (+2.88%) and STANBIC (+2.20%).
· NSE Consumer Goods Index: The gains in UNILEVER (+4.44%), INTBREW (+1.61%) and NB (+0.13%) drove the sector up +0.15%.
· NSE Industrial Index: Closed down by -0.06%, on account of the sell-off in CCNN (-1.57%).
· NSE Oil and Gas Index: Shed -0.08%, on the back of the losses in ETERNA (-4.88%).
Earnings Release
NIL.
Market Insight
The NSE-ASI closed up today, largely driven by the gains in some Banking and Consumer 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
