April 11, 2018/InvestmentOne Report
The Nigerian equities market closed positive today as NSE-ASI gained 0.86%.
However, market breadth index ended positive with 27 stocks gaining against 19 stocks that declined.
LEARNAFRCA (+9.43%) was the top gainer today while CILEASING (-9.40%) had the worst performance.
ZENITHBANK (-0.38%) was the most actively traded with 101million units of shares worth N2.6billion.
Sector Performance
NSE Industrial Index: Advanced by 2.01%, following the gains in WAPCO (+2.95%), CCNN (+2.21%) and DANGCEM (+1.96%).
NSE Oil & Gas Index: Gained 0.75%, due to the advancements in MOBIL (+7.56%) and JAPAULOIL (+7.55%).
NSE Consumer Goods Index: Inched up 0.67%, largely driven by the buy interest in HONYFLOUR (+4.92%), INTBREW (+4.85%), UACN (+2.94%) and UNILEVER (+1.51%).
NSE Banking Index: Lost 0.31%, on the back of the sell-off in UBN (-3.01%), DIAMONDBNK (-2.13%), ZENITHBANK (-0.38%).
Earnings Release
Nil
Market Insight
The Nigerian equities market closed up today following the gains in most of the 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.
