May 4, 2018/InvestmentOne Report
The Nigeria equities market closed today’s trading session in the green, gaining 0.27%. However, WTD performance is down by 0.06%.
Similarly, market breadth index was positive with 26 stocks gaining against 22 stocks that declined.
INTBREW (+9.05%) had the best performance today while MOBIL (-4.95%) was the worst performing stock.
ACCESS was the most actively traded with 41million units of shares worth N460million.
Sector Performance
NSE Consumer Goods Index: Gained 1.51%, following the advancement in INTBREW (+9.05%), NB (+1.42%), GUINNESS (+0.49%) and NESTLE (+0.31%).
NSE Industrial Index: Advanced by 0.36%, supported by the buy interest in CCNN (+1.59%) and DANGCEM (+0.12%).
NSE Oil & Gas Index: Closed down by 1.76%, due to the sell-off in MOBIL (-4.95%), OANDO (-4.02%), ETERNA (-3.69%) and SEPLAT (-1.96%).
NSE Banking Index: Shed 0.31%, largely driven by the decline in FIDELITYBK (-3.59%), WEMABANK (-3.30%), ZENITHBANK (-0.54%) and UBA (-0.43%).
Earnings Release
Presco Plc. released its Q1 2018 results today which showed a 31.81% y/y and 33.33% y/y contraction in Profit Before Tax and Profit After Tax to N3.43billion and N2.60billion respectively.
Market Insight
The Nigerian equities market gained today, following positive investor sentiment towards the Consumer Goods and Industrial names. 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.
TOP PICKS: ACCESS, DANGCEM, GUARANTY, NB, NESTLE, UBA & ZENITHBANK
