February 23, 2018/InvestmentOne Report

The Nigerian equities market sustained its uptrends as ASI gained +0.74% in today’s trading session but down -0.16% WTD. 

Market breadth index closed positive with 26 stocks gaining compared to 9 stocks that declined. 

CAP (+8.57%) was the best performer while HMARKINS (-7.41%) topped the losers’ chart. 

FBNH (+1.74%) led the market in terms of volume with c.42million units of shares worth c.N483million. 

Sector Performance  

·         NSE Consumer Goods Index: Advanced by +1.91%, on the back of the buy interest in NB (+5.78%), HONYFLOUR (+3.94%) and INTBREW (+1.88%). 

·         NSE Banking Index: Gained +0.78% following the gains in FBNH (+1.74%), GUARANTY (+1.25%),  ACCESS (+0.78%) and ZENITHBANK (+0.47%). 

·         NSE Industrial Index: Closed up by +0.15%, largely driven by gains in CAP (+8.57%) and FIRSTALUM (+2.63%). 

·         NSE Oil and Gas Index: Closed flat. 

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.