February 22, 2018/InvestmentOne Research

he Nigerian equities market gained +0.24% in today’s trading session. 

Market breadth index closed positive with 24 stocks gaining compared to 17 stocks that declined. 

JAPAULOIL (+5.41%) was the best performer while UNIC (-6.67%) topped the losers’ chart. 

FIDELITYBK led the market in terms of volume with c.63million units of shares worth c.N189million. 

Sector Performance 

·         NSE Banking Index: Gained +0.71% following the gains in UBA (+3.17%), FBNH (+3.14%), ACCESS (+1.57%), ZENITHBANK (+0.79%) and UBN (+0.74%). 

·         NSE Industrial Index: Closed up by +0.17%, largely driven by WAPCO (+0.49%) 

·         NSE Oil and Gas Index: The gains in TOTAL (+4.78%) drove the sector up by +0.70%. 

·         NSE Consumer Goods Index: Shed -0.34%, on the back of the losses in NB (-1.29%), DANGSUGAR (-2.73%) and INTBREW (-0.18%). 

Earnings Release 

      Nil 

Market Insight 

The Nigerian equities market printed in the green today following the buy interest across most sectors. In the absence of any catalyst, we expect the market to remain volatile in the near term 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