The Nigerian equities market printed in the red today, losing -0.66%. 

Also, market breadth index ended negative with 18 gainers against 37 losers.  

The market best performer was UNITYBNK (+9.82%) while AFRIPRUD (-9.44%) had the worst performance. 

TRANSCORP (-2.87%) led the market in terms of volume with c.45million units of shares worth c.N93million. 

Sector Performance  

·         NSE Banking Index: Lost -1.29%, largely driven by the losses in UBN (-5.00%), ZENITHBANK (-2.49%) and GUARANTY (-0.71%). 

·         NSE Consumer Goods Index: Shed -0.15% due to the sell-off in INTBREW (-4.76%), HONYFLOUR (-3.11%) and DANGFLOUR (-0.30%). 

·         NSE Industrial Index: Declined by -1.14% following the losses in WAPCO (-2.53%) and DANGCEM (-0.77%). 

·         NSE Oil and Gas Index: Gained +0.86% on the back of the gains in TOTAL (+6.91%) and MOBIL (+1.88%). 

Earnings Release 

      Nil 

Market Insight 

The Nigerian equities market closed down today following the bearish sentiments 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