March 29, 2018/InvestmentOne Report
The Nigerian equities closed the last trading session of the week on a positive note as NSE-ASI advanced by 1.72%. Similarly, WTD closed up by 0.08% but MTD closed down by 4.21%.
However, market breadth index ended negative with 23 advancers against 27 stocks that declined.
CUSTODIAN (+9.98%) topped the gainersâ chart while CILEASING (-9.47%) had the worst performance.
ZENITHBANK (-1.68%) was the most actively traded with 45million units of shares worth N1.35billion.
Sector Performance
NSE Banking Index: Gained 1.71%, largely driven by the advancement in FIDELITYBK (+8.06%), UBN (+4.69%), GUARANTY (+4.56%), FBNH (+3.31%) and UBA (+2.17%).
NSE Consumer Goods Index: Advanced by 1.55%, due to the buy interest in DANGSUGAR (+3.56%), NESTLE (+2.96%), PZ (+1.96%) and NB (+1.56%)
NSE Oil & Gas Index: Closed up by 1.50% on the back of the gains in MOBIL (+4.97%), TOTAL (+4.49%) and FO (+0.24%).
NSE Industrial Index: Declined by 0.20%, following the losses in CCNN (-4.83%), MULTIVERSE (-4.35%) and WAPCO (-2.37%).
Earnings Release
PZ Cussons Nigeria Plc. released its Q3 2018 results today which showed a Profit before tax of N1.10billion; up 4.61% q/q but down 60.50% y/y.
Forte Oil Plc. released its Q4 2017 results today which showed a Profit before tax of N5.04billion compared to a profit of 847million in Q3 2017 and a loss of N293million in Q4 2016.
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
