April 27, 2018/InvestmentOne Report
The Nigerian equities market closed the last trading session of the week in the green, gaining 1.15%. Similarly, WTD closed up by 1.05%.
Furthermore, market breadth index was positive with 25 stocks gaining against 14 stocks that declined.
INTBREW (+10.21%) topped the gainers chart while FO (-4.94%) was the worst performing stock.
MBENEFIT (-4.00%) was the most actively traded with 113million units of shares worth N27million.
Sector Performance
NSE Consumer Goods Index: Advanced by 2.67%, largely driven by the gains in INTBREW (+10.21%), NESTLE (+2.98%), NB (+2.36%) and DANGSUGAR (+1.18%)
NSE Banking Index: Gained 0.91%, due to the buy interest in FBNH (+5.96%), SKYEBANK (+3.85%), DIAMONDBNK (+3.59%) and JAIZBANK (+2.90%).
NSE Oil & Gas Index: Shed 0.30%, majorly driven by the sell-off in  FO (-4.94%)
NSE Industrial Index: Closed flat
Earnings Release
Nil
Market Insight
The Nigerian equities market closed up today following the gains in the Consumer Goods and Banking 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. In the same vein, we are our the view that the recent sell-off in the equities market presents an entry opportunity for investors with a medium to longer term horizon.