April 10, 2018/InvestmentOne Report
The Nigerian equities market closed positive today as NSE-ASI gained 0.17%.
However, market breadth index ended negative with 16 stocks gaining against 26 stocks that declined.
JAPAULOIL (+8.16%) was the top gainer today while WEMABANK (-4.94%) had the worst performance.
ZENITHBANK (+1.71%) was the most actively traded with 88million units of shares worth N2.64million.
Sector Performance
NSE Industrial Index: Advanced by 2.08%, following the gains in DANGCEM (+3.00%) and WAPCO (+1.40%).
NSE Consumer Goods Index: Gained 0.56%, largely driven by the buy interest in INTBREW (+2.35%), DANGSUGAR (+0.55%), FLOURMILL (+0.50%) and NB (+0.30%).
NSE Banking Index: Lost 1.45%, on the back of the sell-off in ZENITHBANK (-0.55%), GUARANTY (-0.50%), UBA (-0.15%) and FBNH (-0.10%).
NSE Oil & Gas Index: Shed 0.02%, due to the losses in TOTAL (-2.80%), FO (-1.40%) and ETERNA (-0.29%) .
Earnings Release
Nil
Market Insight
The Nigerian equities market closed up today following the gains in Industrial and Consumer Goods 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
