May 14, 2018/InvestmentOne Report
The Nigerian equities market opened the week on a bearish note as NSE-ASI lost 0.84%.
Similarly, market breadth index was negative with 11 gainers against 32 stocks that declined.
CAVERTON (+4.98%) led the gainers chart while CILEASING (-9.36%) was the worst performing stock today.
UBA was the most actively traded with 60million units of shares worth N707million.
Sector Performance
NSE Consumer Goods Index: Declined by 1.55%, due to the selloff in CHAMPION (-4.59%), NESTLE (-3.16%), NB (-2.01%), UACN (-1.76%) and FLOURMILL (-0.14%).
NSE Banking Index: Fell by 0.44%, largely driven the losses in DIAMONDBNK (-4.74%), FBNH (-2.04%), ETI (-1.66%), ZENITHBANK (-0.52%) and ACCESS (-0.44%).
NSE Industrial Index: Shed 0.25%, on the back of the decline in DANGCEM (-0.61%).
NSE Oil & Gas Index: Inched up by 0.01%, following the gain in ETERNA (+1.01%) which offset the loss in FO (-0.12%).
Earnings Release
Nil
Market Insight
The Nigerian equities market closed down today following the selloff across most sectors. Going forward, we expect the market to remain volatile 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
