April 9, 2018/InvestmentOne Report
The Nigerian equities market opened the week on a bearish note as NSE-ASI lost 1.01% today.
Similarly, market breadth index ended negative with 17 stocks gaining against 30 stocks that declined.
LEARNAFRCA (+9.28%) was the top gainer today while CILEASING (-9.30%) had the worst performance.
FBNH (-0.41%) was the most actively traded with 29million units of shares worth N359million.
Sector Performance
NSE Industrial Index: Fell by 3.87%, following the losses in WAPCO (-7.24%) and DANGCEM (-1.14%).
NSE Banking Index: Lost 0.93%, on the back of the sell-off in FIDELITYBK (-2.31%), ZENITHBANK (-1.47%), GUARANTY (-1.36%), UBA (-0.42%) and FBNH (-0.41%).
NSE Consumer Goods Index: Shed 0.85%, largely driven by the decline in UNILEVER (-8.03%), DANGFLOUR (-4.71%), GUINNESS (-0.96%) and NB (-0.08%).
NSE Oil & Gas Index: Closed flat.
Earnings Release
Lafarge Africa Plc recently released its Q4 2017 results which showed a Loss Before Tax of N34.76billion and a Loss After Tax of N34.89billion relative to a Profit Before Tax of N17.55billion and a Profit After Tax of N54.30billion in Q4 2016.
Market Insight
The Nigerian equities market closed down today following the sell-off 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
