March 26, 2018/InvestmentOne Report
The Nigerian equities market ended the first trading session of the week in the red, losing 0.04%
However, market breadth index was positive with 34 stocks gaining against 17 stocks that declined.
CUSTODIAN (+10.00%) had the best performance today while FO (-9.09%) was the top loser.
ACCESS (+0.44%) was the most actively traded with c. 78million units of shares worth c.N885million.
Sector Performance
NSE Oil & Gas Index: Shed 2.54%, following the decline in FO (-9.09%) and SEPLAT (-3.03%)
NSE Industrial Index: Closed down by 2.01%, largely due to the loss in WAPCO (-4.00%)
NSE Banking Index: Lost 0.45%, driven by the sell-off in DIAMONDBNK (-4.65%), GUARANTY (-3.41%) and FIDELITYBK (-0.37%)
NSE Consumer Goods Index: Gained 0.26% on the back of the gains in NB (+1.98%), DANGFLOUR (+0.95%), DANGSUGAR (+0.71%) and NESTLE (+0.23%)
Earnings Release
Nil
Market Insight
The Nigerian equities market printed in the red today following the sell-off 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
