February 5, 2018/InvestmentOne Report

The Nigeria equities market closed in the red today as NSE-ASI shed -0.85%. 

Market breadth index ended negative as 34 stocks declined against 22 stocks that gained. 

AIICO (+10.00%) was the best performing stock while UNIC (-8.70%) had the worst performance. 

FCMB (-2.30%) was the most actively traded stocks with c.101million units of shares worth c.N303m. 

Sector Performance  

·         NSE Industrial Index: Declined by -1.93% following the losses in DANGCEM (-2.88%) and WAPCO (-1.85%). 

·         NSE Oil and Gas Index: Shed -0.64% on the back of the loss in FO (-4.95%). 

·         NSE Banking Index: Gained +0.27%, largely driven by the gains in  UNITYBNK (+4.82%), STERLNBANK (+3.52%), ZENITHBANK (+2.19%), JAIZBANK (+1.01%) and UBN (+1.18%). 

·         NSE Consumer Goods Index: Closed up by +0.19%  following the buy interest in PZ (+2.38%), DANGSUGAR (+1.69%), FLOURMILL (+0.44%) and NB (+0.35%). 

Earnings Release 

Nil 

Market Insight 

The Nigeria equities printed in the red today, largely driven by the decline in DANGCEM. Going forward, we expect the market to trade sideways even as investors continue to take positions in this earning season. Given the sell-off we saw in the market today, we believe this may present entry opportunities into our quality names for investors with a medium to longer term horizon.  

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