May 18, 2018/InvestmentOne Report
The Nigerian equities market closed down today as NSE-ASI lost 0.44%. Also, WTD was down by 1.34%.
Similarly, market breadth index was negative with 20 gainers against 30 stocks that declined.
OANDO (+9.27%) led the gainers chart while CCNN (-8.05%) was the worst performing stock today.
GUARANTY (-0.11%) was the most actively traded with 62.9million units of shares worth N2.77billion.
Sector Performance
NSE Oil & Gas Index: Closed down by 1.28% largely driven by the losses in JAPAULOIL (-6.25%), TOTAL (-4.42%) and MOBIL (-3.72%).
NSE Consumer Goods Index: Declined by 0.32%, following the losses in HONYFLOUR (-4.98%), UNILEVER (-4.49%), CHAMPION (-0.49%) and FLOURMILL (-0.14%), NB (-0.08%).
NSE Banking Index: Shed 0.30%, due to the decrement in STERLNBANK (-4.52%), FIDELITYBK (-3.15%), FBNH (-0.45%) and GUARANTY (-0.11%).
NSE Industrial Index: Fell by 0.29%, based on the declines in CCNN (-8.05%) and DANGCEM (-1.21%).
Earnings Release
Nil
Market Insight
The Nigerian equities market closed down today following the sell-off across all 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
