April 23, 2018/InvestmentOne Report
The Nigerian equities market closed the first trading session of the week in the red, losing 0.12%
Similarly, market breadth index was negative with 19 gainers against 24 stocks that declined.
LEARNAFRCA (+9.17%) led the gainersâ chart while CONTINSURE (-5.14%) was the worst performing stock today.
LAWUNION was the most actively traded with 221million units of shares worth N254million.
Sector Performance
NSE Industrial Index: Shed 2.72%, largely driven by the losses in WAPCO (-1.91%) and DANGCEM (-0.60%).
NSE Banking Index: Lost 0.38%, due to the selloff in UNITYBNK (-4.72%), JAIZBANK (-4.65%), SKYEBANK (-4.21%), WEMABANK (-3.19%) and GUARANTY (-2.12%).
NSE Oil & Gas Index: Gained 0.56%, following the buy interest in FO (4.94%) and ETERNA (+3.37%)
NSE Consumer Goods Index: Closed up by 0.26%, due to the gains in HONYFLOUR (+4.71%), NB (+2.85%) and UACN (+0.59%).
Earnings Release
Larfarge Africa Plc released its Q1 2018 results which showed a Loss Before Tax and Loss After Tax of N9.2billion and N2billion compared to Profit Before Tax and Profit After Tax of N9.5billion and N5.16billion in Q1 2017 respectively.
Market Insight
The Nigerian equities market closed down today following the selloff in the Industrial and Banking sectors. In the near term, we expect the market to remain volatile in the absence of any positive catalyst . 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
