30/4/2018/InvestmentOne Report
The Nigerian equities market was somewhat flat today gaining 0.06%.
Furthermore, market breadth index was also flat with 19 stocks gaining against 18 stocks that declined.
CILEASING (+9.35%) topped the gainers chart while ETERNA (-5.00%) was the worst performing stock.
MBENEFIT was the most actively traded with 131million units of shares worth N31million.
Sector Performance
NSE Industrial Index: Closed up by 0.56%, on account of the gains in BETAGLASS (+4.97%), CCNN (+4.87%) and DANGCEM (+0.41%).
NSE Banking Index: Gained 0.43%, due to the buy interest in STERLNBANK (+1.90%), GUARANTY (+1.47%), FIDELITYBK (+1.19%) and FBNH (+0.40%).
NSE Consumer Goods Index: Declined by 0.77%, largely driven by the sell-off in DANGFLOUR (-5.00%), DANDSUGAR (-4.21%), FLOURMILL (-1.99%), NESTLE (-0.99%), and NB (-0.08%).
NSE Oil & Gas Index: Shed 0.09%, majorly driven by the declines in  ETERNA (-5.00%) and TOTAL (-0.18%).
Earnings Release
Fidelity Bank Plc released its Q4 2017 results which showed an improvement in Profit Before Tax to N4.07billion from N1.23billion in Q4 2016 and Profit After Tax to N4.41billion in Q4 2017 from N980million in Q4 2016.
FBN Holdings Plc released its Q1 2018 results which showed a 5.80% decline in Profit Before Tax to N18.80billion and a 8.60% decline in Profit After Tax to N14.80billion.
Seplat Petroleum Development Plc released its Q1 2018 results which showed an improvement in Profit Before Tax to N18.00billion from a Loss Before Tax N5.61billion in Q1 2017 and Profit After Tax of N6.30billion in Q1 2018 from a Loss After Tax of N5.86billion in Q1 2017.
Dangote Flour Mills Plc released its Q1 2018 results which showed a 43.22% y/y and 39.00% y/y decline in Profit Before Tax and Profit After Tax to N2.26billion and N1.58billion respectively.
Dangote Sugar Refinery Plc released its Q1 2018 results which showed a 19.18% y/y and 10.92% y/y improvement in Profit Before Tax and Profit After Tax to N8.39billion and N5.28billion respectively.
Guinness Nigeria Plc. released its Q3 2018 results which showed an improvement in Profit Before Tax to N4.35billion from a Profit Before Tax N2.20billion in Q3 2017 and Profit After Tax of N2.96billion in Q3 2018 from a Profit After Tax of N2.10billion in Q3 2017.
Market Insight
The Nigerian equities market closed up today following the gains in the Industrial and Banking sectors. Going forward, we expect the market to trade sideways in the absence of positive news flow. With this said, we highlight that the recent sell-off in the equities market presents an entry opportunity for investors with a medium to longer term horizon.
