March 27, 2018/InvestmentOne Report
The Nigerian equities market ended the second trading session of the week in the red, losing 0.51%
Similarly, market breadth index was negative with 21 stocks gaining against 31 stocks that declined.
GLAXOSMITH (+10.16%) had the best performance today while DIAMONDBNK (-7.32) was the top loser.
JAPAULOIL (+2.90%) was the most actively traded with c. 80million units of shares worth c.N58million.
Sector Performance
NSE Oil & Gas Index: Shed 2.68%, following the decline in SEPLAT (-5.00%), MOBIL (-4.07%) and TOTAL (-1.52%) .
NSE Banking Index: Lost 0.96%, driven by the sell-off in DIAMONDBNK (-7.32%), ETI (-5.00%), ZENITHBANK (-2.13%), FBNH (-1.98%) and UBA (-1.26%).
NSE Consumer Goods Index: Closed down by 0.40% on the back of the losses in INTBREW (-5.00%), CADBURY (-4.92%), GUINNESS (-1.90%) and NB (-0.70%).
NSE Industrial Index: Closed up by 0.86%, largely due to the advancement in CCNN (+4.80%) and WAPCO (+1.46%).
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
