March 22, 2018/InvestmentOne Report
The Nigerian equities market closed positive today after a 6-day losing streak as ASI advanced by 0.33% at the end of today’s trading session.
Market breadth index was somewhat flat as with 29 advancers against 28 stocks that declined.
GLAXOSMITH (+10.20%) was the best performing stock today while MULTIVERSE (-8.70%) topped the losers chart.
ACCESS (-5.53%) was the most actively traded with c. 126million units of shares worth c.N1.39billion.
Sector Performance
NSE Oil & Gas Index: Closed up by 0.57%, following the buy interest in JAPAULOIL (+8.62%) and MOBIL (+4.37%).
NSE Banking Index: Gained 0.53%, largely driven by the advancement in FCMB (+4.94%), UBA (+2.17%), ZENITHBANK (+1.77%), GUARANTY (+0.67%) and FBNH (+0.42%).
NSE Industrial Index: Gained 0.46%, due to the rise in WAPCO (+0.96%) and NNFM (+0.81%).
NSE Consumer Goods Index: Advanced by 0.39%, following the gains in GLAXOSMITH (+10.20%), MAYBAKER (+5.00%), CADBURY (+4.74%%), PZ (+2.68%) and NB (+1.51%).
Earnings Release
Nil
Market Insight
The Nigerian equities market closed up today following the gains 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. 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
