May 15, 2018/InvestmentOne Report
The Nigerian equities market closed down today as NSE-ASI lost 0.15%.
Similarly, market breadth index was negative with 12 gainers against 25 stocks that declined.
SOVRENINS (+5.00%) led the gainers chart while VERITASKAP (-9.52%) was the worst performing stock today.
GUARANTY (-0.68%) was the most actively traded with 37million units of shares worth N1.64billion.
Sector Performance
NSE Banking Index: Fell by 1.35%, largely driven the losses in DIAMONDBNK (-9.39%), SKYEBANK (-5.56%), FBNH (-4.17%), ZENITHBANK (-4.00%) and GUARANTY (-0.68%).
NSE Consumer Goods Index: Rose by 1.42%, due to the buy interest in NESTLE (+2.81%) and NB (+2.30%).
NSE Industrial Index: Inched up by 0.08%, on the back of the gain in CAP (+2.83%).
NSE Oil & Gas Index: Closed flat.
Earnings Release
Nil
Market Insight
The Nigerian equities market closed down today despite gains in Consumer Goods and Industrial 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
