April 3, 2018/InvestmentOne Report
The Nigerian equities market closed the first trading session of the week on a bearish note, shedding 1.56%.
Also, market breadth index ended negative with 11 stocks gaining against 38 stocks that declined.
CAVERTON (+8.99%) was the top gainer today while FIDELITYBK (-9.33%) had the worst performance.
ZENITHBANK (+1.71%) was the most actively traded with 88million units of shares worth N2.6billion.
Sector Performance
NSE Industrial Index: Declined by 3.35%, following the losses in WAPCO (-4.08%) and DANGCEM (-3.46%).
NSE Consumer Goods Index: Shed 0.60%, due to the decline in HONYFLOUR (-4.78%), DANGFLOUR (-4.70%), CADBURY (-3.97%) and DANGSUGAR (-3.67%).
NSE Oil & Gas Index: Closed down by 0.49%, largely driven by the losses in JAPAULOIL (-6.78%), ETERNA (-4.96%) and FO (-2.86%).
NSE Banking Index: Lost 0.42%, on the back of the losses in FIDELITYBK (-9.33%), JAIZBANK (-4.94%), UNITYBNK (-4.92%) and GUARANTY (-2.91%)
Earnings Release
Nil
Market Insight
The Nigerian equities market closed down today following the bearish sentiments across major sectors. As we come to the end of the earnings season, we expect the market to trade sideways in the absence of positive news flow. With this said, we highlight the potential for the market to gain as investors reinvest dividend income.
TOP PICKS: ACCESS, DANGCEM, GUARANTY, NB, NESTLE, UBA & ZENITHBANK
