April 12, 2018/InvestmentOne Report
The Nigerian equities market closed on a bearish note as NSE-ASI lost 0.09% today.
Similarly, market breadth index ended negative with 20 stocks gaining against 23 stocks that declined.
OANDO (+10.00%) was the top gainer today while COURTVILLE (-9.09%) had the worst performance.
UBA (-0.91%) was the most actively traded with 30million units of shares worth N328.4million.
Sector Performance
NSE Consumer Goods Index: Shed 0.23%, largely driven by the decline in UAC-PROP (-5.00%), CHAMPION (-4.80%), UNILEVER (-3.53%) and HONYFLOUR (-3.52%).
NSE Oil & Gas Index: Gained 0.47%, largely due to advancements in OANDO (+10.00%) and MOBIL (+4.17%).
NSE Industrial Index: Rose by 0.05%, following the gains in WAPCO (+0.80%).
NSE Banking Index: Inched up by 0.03%, due to the buy interest in WEMABANK (+9.09%), SKYEBANK (+8.82%), STERLNBANK (+5.11%), UNITYBNK (+5.00%) and DIAMONDBNK (+1.09%).
Earnings Release
Nil
Market Insight
The Nigerian equities market closed down today due to the loss in the Consumer Goods sector. 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
