6/2/2018/InvestmentOne Report

The Nigeria equities market continued its downtrends today as NSE-ASI shed -0.87%. 

Market breadth index ended negative as 48 stocks declined against 18 stocks that gained. 

PRESTIGE (+7.69%) was the best performing stock while HMARKINS (-9.09%) had the worst performance. 

LASACO was the most actively traded stocks with c.182million units of shares worth c.N59m. 

Sector Performance  

·         NSE Banking Index: Lost -2.11%, largely driven by the sell-off in  FBNH (-5.15%), DIAMONDBNK (-4.73%), STERLNBANK (-4.68%), ZENITHBANK (-4.44%) and UBA (-2.43%). 

·         NSE Industrial Index: Declined by -0.98% following the losses in JBERGER (-4.71%), CCNN (-3.85%) and WAPCO (-2.08%). 

·         NSE Oil and Gas Index: Shed -0.42% on the back of the losses in MOBIL (-2.78%) and FO (-0.22%). 

·         NSE Consumer Goods Index: Closed down by -0.28%  following the decline in FLOURMILL (-4.71%), HONYFLOUR (-4.70%), UNILEVER (-4.43%) and NB (-0.07%). 

Earnings Release 

Nil 

Market Insight 

The Nigerian equities market printed in the red today, following the recent sell-off in major equities markets around the globe as well as the fall in oil price. 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 recently, 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