April 24, 2018/InvestmentOne Report
The Nigerian equities market closed positive today as NSE-ASI gained 0.10%.
Market breadth index was somewhat flat with 26 stocks gaining against 25 stocks that declined.
FO (+10.18%) was the top gainer today while JBERGER (-5.00%) had the worst performance.
TRANSCORP (+2.27%) was the most actively traded with 35million units of shares worth N66million.
Sector Performance
NSE Oil & Gas Index: Advanced by 0.85%, following the gain in FO (+10.18%).
NSE Consumer Goods Index: Appreciated by 0.72%, on the back of the gains in NESTLE (+5.00%), DANGFLOUR (+2.62%), and DANGSUGAR (+2.19%).
NSE Banking Index: Inched up 0.51%, largely driven by the buy interest in WEMABANK (+4.44%), ZENITHBANK (+2.57%), ACCESS (+0.89%) and UBA (+0.89%).
NSE Industrial Index: Fell by 0.38% as a result of the sell-off in JBERGER (-5.00%) and WAPCO (-0.80%).
Earnings Release
Dangote Cement Plc. released its Q1 2018 results which showed a 40.26% y/y and 28.57% y/y improvement in Profit Before Tax and Profit After Tax to N108billion and N72billion respectively.
Market Insight
The Nigerian equities market closed up today following the buy interest across 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.
