May 8, 2018/InvestmentOne Report
The Nigerian equities market closed down today as NSE-ASI lost 0.04%.
Market breadth index was somewhat flat with 24 gainers against 25 stocks that declined.
CUTIX (+8.47%) led the gainers chart while FO (-5.00%) was the worst performing stock today.
FCMB (-0.39%) was the most actively traded with 297million units of shares worth N745million.
Sector Performance
NSE Consumer Goods Index: Declined by 0.31%, due to the selloff in CHAMPION (-2.48%), FLOURMILL (-1.13%), NB (-0.78%) and GUINNESS (-0.48%).
NSE Oil & Gas Index: Fell by 0.01%, following the losses in FO (-5.00%) and OANDO (-0.57%).
NSE Banking Index: Gained 0.68%, following the buy interest in WEMABANK (+4.71%), SKYEBANK (+4.55%), GUARANTY (+1.33%), ACCESS (+0.44%), and UBA (+0.43%).
NSE Industrial Index: Advanced by 0.04%, largely driven by the gains in CUTIX (+8.47%) and CCNN (+4.92%).
Earnings Release
Nil
Market Insight
The Nigerian equities market closed down today following the selloff in the Consumer Goods and Oil & Gas 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