May 7, 2018/InverstmentOne Report
The Nigerian equities market closed the first trading session of the week in the red, losing 0.11%
However, market breadth index was positive with 21 gainers against 18 stocks that declined.
ETERNA (+9.76%) led the gainers chart while BERGER (-5.26%) was the worst performing stock today.
LASACO (+2.63%) was the most actively traded with 24million units of shares worth N9million.
NSE Consumer Goods Index: Declined by 0.73%, due to the losses in NESTLE (-1.72%), HONYFLOUR (-1.52%) and NB (+0.78%).
NSE Banking Index: Lost 0.31%, due to the selloff in UNITYBNK (-5.00%), FBNH (-4.78%), GUARANTY (-0.55%), ACCESS (-0.44%), and ZENITHBANK (-0.18%).
NSE Industrial Index: Advanced by 0.39%, largely driven by the gain in DANGCEM (1.02%).
NSE Oil & Gas Index: Gained 0.15%, following the buy interest in ETERNA (+9.76%) and OANDO (+4.79%).
Earnings Release
Nil
Market Insight
The Nigerian equities market closed down today following the selloff 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 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
