February 7, 2018/InvestmentOne Report

The Nigerian equities market printed in the red for the third consecutive trading session of the week, losing -0.77%. 

Market breadth index, a gauge for investor sentiments, was negative with 40 losers against 18 gainers. 

CAVERTON (+9.71%) had the best performance while UNIC (-9.52%) was the top loser. 

LASACO (+5.88%) was the most actively traded stocks with c.57million units of shares worth c.N20m. 

Sector Performance  

·         NSE Industrial Index: Shed -1.06%, largely driven by the losses in JBERGER (-4.58%) and DANGCEM (-2.22%). 

·         NSE Oil and Gas Index: Declined by -0.81% following the losses in MOBIL (-5.00%) and TOTAL (-0.43%). 

·         NSE Consumer Goods Index: Sell-off in NB (-2.00%), DANGFLOUR (-0.62%), FLOURMILL (-0.62%) and INTBREW (-0.43%) drove the sector to close down by -0.31%. 

·         NSE Banking Index: Gained +0.59%, following the gains in ZENITHBANK (+2.56%), UBN (+2.42%), UBA (+1.24%) and ETI (+0.51%) 

Earnings Release 

Nil 

Market Insight 

The Nigerian equities market closed down today, following the bearish sentiments across most sectors. Going forward, we expect the market to trade sideways even as investors continue to take positions in this earnings season. Despite 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