March 5, 2018/InvestmentOne Report
The Nigerian equities market closed the first trading session of the week on a positive note as ASI advanced by +1.49% today.
Similarly, market breadth index closed positive with 32 stocks gaining against 25 stocks that declined .
CAVERTON (+9.95%) was the market best performer while REGALINS (-8.33%) led the laggardâs chart.
GUARANTY (+1.75%) topped the market in terms of volume with c.46million units of shares worth c.N2.25billion.
Sector Performance
NSE Oil and Gas Index: Gained +4.81% due to the advancement in SEPLAT (+8.56%) and TOTAL (+4.74%).
NSE Industrial Index: Advanced by +2.21% following the gains in DANGCEM (+3.77%) and WAPCO (+0.39%).
NSE Banking Index: Closed up by +0.37%, on the back of the buy interest in FIDELITYBK (+5.00%), STERLNBANK (+2.60%), GUARANTY (+1.75%) and ACCESS (+1.13%).
NSE Consumer Goods Index: Inched up by +0.02%, largely driven by the increase in UNILEVER (+4.95%) and CADBURY (+0.65%).
Earnings Release
NIL
Market Insight
The Nigerian equities market printed in the green today following the gains across all the 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. Nonetheless, we advise entry into our quality names for investors with a medium to longer term horizon.
TOP PICKS: ACCESS, DANGCEM, GUARANTY, NB, NESTLE, UBA & ZENITHBANK
