March 19, 2018/InvestmentOne Report
The Nigerian equities market continued its downtrend as it opened the week on a bearish note, losing 0.21%.
Market breadth index was negative with 14 gainers against 36 decliners.
CILEASING (+9.94%) was the best performing stock while CADBURY (-9.65%) had the worst performance.
ZENITHBANK (+1.45%) was the most actively traded with c. 129million units of shares worth c.N3.49billion.
Sector Performance
NSE Consumer Goods Index: Lost 1.14%, due to the selloff in CADBURY (-9.65%), DANGFLOUR (-4.84%), NB (-3.38%), FLOURMILL (-0.39%) and UNILEVER (-0.28%).
NSE Banking Index: Closed up by 0.28%, largely driven by the gains in ZENITHBANK (+1.45%), ACCESS (+1.29%), GUARANTY (+0.89%), STERLNBANK (+0.58%) and UBA (+0.45%).
NSE Industrial Index: Gained 0.19% following the rise in DANGCEM (+0.38%).
NSE Oil & Gas Index: Closed flat .
Earnings Release
Nil
Market Insight
The Nigerian equities market closed negative today following the sell-off in Consumer Names. 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
