April 18, 2018/InvestmentOne Report
The Nigerian equities market closed down today as NSE-ASI lost 0.04%.
However, market breadth index ended positive with 24 stocks gaining against 18 stocks that declined.
JAIZBANK (+10.00%) was the top gainer today while UBN (-4.76%) had the worst performance.
GUARANTY (+0.57%) was the most actively traded with 67.37million units of shares worth N2.99billion.
Sector Performance
NSE Oil & Gas Index: Fell by 1.68%, due to the losses in SEPLAT (-3.29%) and CAVERTON (-1.18%).
NSE Industrial Index: Shed 1.00%, following the decline in WAPCO (-2.04%).
NSE Consumer Goods Index: Lost 0.40%, on the back of the sell-off in INTBREW (-2.10%), UACN (-1.45%), and DANGFLOUR (-0.37%).
NSE Banking Index: Appreciated by 0.22%, largely driven by the buy interest in JAIZBANK (+10.00%), SKYEBANK (+5.21%), STERLNBANK (+4.94%) and GUARANTY (+0.57%).
Earnings Release
Nil
Market Insight
The Nigerian equities market closed down today following the losses in Oil & Gas, 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
