April 4, 2018/InvestmentOne Report
Similar to yesterday, the Nigerian equities market printed in the red, losing 0.26%.
Market breadth index ended negative with 18 advancers against 26 stocks that declined.
LASACO (+5.88%) topped the gainersâ chart  while DANGFLOUR (-9.54%) had the worst performance.
FBNH (-1.22%) was the most actively traded with 71million units of shares worth N864million.
Sector Performance
NSE Banking Index: Shed 0.92%, largely driven by the decline in UNITYBNK (-4.31%), WEMABANK (-4.17%), SKYEBANK (-4.05%), JAIZBANK (-3.90%) and FBNH (-1.22%).
NSE Consumer Goods Index: Closed down by 0.26%, on the back of the sell-off in DANGFLOUR (-9.54%), HONYFLOUR (-3.77%), and FLOURMILL (-1.34%).
NSE Oil & Gas Index: Closed up by 0.07%, following the gain in FO (+2.70%)
NSE Industrial Index: Gained  0.59%, due to the advancement in WAPCO (+1.27%)
Earnings Release
International Breweries Plc. released its 9M 2018 results today which showed a loss before tax of N3.20billion compared to a profit before tax of 0.52billion in 9M 2017. (Kindly note that the recently released 9M 2018 result is a consolidated result of Pabod Breweries, Interfact Beverages and International Breweries)
Market Insight
The Nigerian equities market closed down today following the sell-off on the Banking and Consumer names. 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
