April 5, 2018/InvestmentOne Report
The Nigerian equities market halted its losing streak as NSE-ASI advanced by 0.31%.
However, market breadth index was somewhat flat with 21 advancers against 22 stocks that declined.
PRESTIGE (+9.30%) topped the gainersâ chart while GLAXOSMITH (-9.61%) had the worst performance.
UBA (+1.28%) was the most actively traded with103million units of shares worth N1.23billion.
Sector Performance
NSE Industrial Index: Gained 0.65%, due to the advancement in DANGCEM (+1.59%).
NSE Banking Index: Advanced by 0.27%, largely driven by the buy interest in FIDELITYBK (+4.28%), ETI (+3.98%), UBA (+1.28%), ACCESS (+0.85%) and ZENITHBANK (+0.55%).
NSE Oil & Gas Index: Closed up by 0.08%, following the gain in ETERNA (+4.66%).
NSE Consumer Goods Index: Shed 0.83%, on the back of the sell-off in GLAXOSMITH (-9.61%), INTBREW (-4.96%), DANGSUGAR (-1.19%) and NB (-0.54%).
Earnings Release
Nil
Market Insight
The Nigerian equities market closed up today following the gains across most sectors. Going forward, 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
