April 13, 2018/InvestmentOne Research
The Nigerian equities market closed the last trading session of the week on a bullish note, gaining 0.29%. Similarly, WTD closed up by +0.21%.
Similarly, market breadth index ended positive with 32 stocks gaining against 22 stocks that declined.
WEMABANK (+9.52%) was the top gainer today while INTBREW (-6.80%) had the worst performance.
SOVRENINS (+5.00%) was the most actively traded with 15.5million units of shares worth N3.1million.
Sector Performance
NSE Oil & Gas Index: Gained 2.60%, due to the advancements in SEPLAT (+4.99%), OANDO (+4.55%) and FO (+1.35%).
NSE Industrial Index: Advanced by 1.12%, following the gains in CCNN (+9.19%), WAPCO (+1.14%) and DANGCEM (+0.78%).
NSE Banking Index: Inched up 0.44%, largely driven by the buy interest in WEMABANK (+9.52%), SKYEBANK (+8.11%), GUARANTY (+2.44%) and ZENITHBANK (+0.38%).
NSE Consumer Goods Index: Lost 0.83%, on the back of the sell-off in PZ (-2.17%), INTBREW (-6.80%) and DANGFLOUR (-0.38%).
Earnings Release
Nil
Market Insight
The Nigerian equities market closed up today following the buy interest in 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.
