6/4/2018/InvestmentOne Report
The Nigerian equities market closed the last trading session of the week on a bearish note, shedding 0.08%. Similarly, WTD closed down by -1.60%.
Also, market breadth index ended negative with 17 stocks gaining against 24 stocks that declined.
MAYBAKER (+9.59%) was the top gainer today while JAPAULOIL (-8.16%) had the worst performance.
AFRINSURE (+4.35) was the most actively traded with 120million units of shares worth N27.8million.
Sector Performance
NSE Oil & Gas Index: Closed down by 2.43%, largely driven by the losses in JAPAULOIL (-8.16%), MOBIL (-7.10%), TOTAL (-4.98%) and FO (-4.53%).
NSE Banking Index: Lost 0.26%, on the back of the sell-off in STERLNBANK (-4.82%), UNITYBNK (-4.72%), FIDELITYBK (-2.99%) and ZENITHBANK (-0.73%).
NSE Industrial Index: Inched up by 0.06%, following the gain in WAPCO (+0.45%).
NSE Consumer Goods Index: Advanced by 0.62%, largely driven by buy interest in MAYBAKER (+9.59%), UNILEVER (+8.73%), NB (+0.55%) and NESTLE (+0.36%).
Earnings Release
Nil
Market Insight
The Nigerian equities market closed down today following the sell-off in Banking and Oil & Gas 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
