March 8, 2018/InvestmentOne Report
The Nigerian equities market closed positive today as ASI advanced by +0.33%.
Similarly, market breadth index ended positive with 30 gainers against 28 decliners.
JAPAULOIL (+9.88%) topped the gainersâ chart today while CILEASING (-9.28%) had the worst performance.
With respect to volume, CAPOIL (-4.17%) was the most actively traded with c. N308million units of shares worth c.N142million.
Sector Performance
NSE Consumer Goods Index: Gained 0.92%, due to the buy interest in UNILEVER (+7.49%), CADBURY (+5.00%), FLOURMILL (+2.78%) and NB (+0.72%).
NSE Banking Index: Closed up by 0.65%, largely driven by the gains in FBNH (+4.87%), GUARANTY (+2.94%), ACCESS (+0.78%) and FCMB (+0.39%).
NSE Industrial Index: Shed 0.54% following the loss in DANGCEM (-1.13%).
NSE Oil and Gas Index: Declined by 0.03% on the back of the losses in ETERNA (-0.31%) and FO (-0.22%).
Earnings Release
NIL
Market Insight
The Nigerian equities market closed positive today following the gains in Consumer Goods and Banking 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
