March 6, 2018/InvestmentOne Report
The Nigerian equities market sustained its uptrends as ASI advanced by +0.22% today.
However, market breadth index closed negative with 26 stocks gaining against 29 stocks that declined .
UNILEVER (+10.17%) was the market best performer while REGALINS (-9.09%) led the laggardâs chart.
STERLNBANK (-4.57%) topped the market in terms of volume with c.102million units of shares worth c.N191million.
Sector Performance
NSE Oil and Gas Index: Gained +1.44% due to the buy interest in SEPLAT (+3.29%).
NSE Consumer Goods Index: Closed up by +0.94%, largely driven by the advancement UNILEVER (+10.17%), DANGSUGAR (+4.90%) and FLOURMILL (+4.69%).
NSE Industrial Index: Inched up by +0.01% following the gain in CCNN (+0.76%).
NSE Banking Index: Closed down by -0.33%, on the back of the sell-off in STERLNBANK (-4.57%), ACCESS (-2.23%), GUARANTY (-1.72%) and FCMB (-0.40%).
Earnings Release
NIL
Market Insight
The Nigerian equities market printed in the green today following the gains in Oil & Gas and Consumer Goods 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
