May 23, 2018/InvestmentOne Report
The Nigerian equities market closed down today as NSE-ASI lost 0.25%.
Similarly, market breadth index was negative with 15 gainers against 28 stocks that declined.
IKEJAHOTEL (+9.80%) was the top gainer today while UACN (-8.52%) was the worst performing stock.
IKEJAHOTEL (+9.80%) was the most actively traded with 45million units of shares worth N102million.
Sector Performance
NSE Consumer Goods Index: Declined by 0.47%, due to the sell-off in DANGFLOUR (-4.74%), FLOURMILL (-2.85%), DANGSUGAR (-2.47%) and NASCON (-0.24%).
NSE Banking Index: Shed 0.17%, following the losses in UNITYBNK (-4.90%), FCMB (-4.80%), STERLNBANK (-3.57%), DIAMONDBNK (-2.48%) and ACCESS (-0.46%).
NSE Industrial Index: Lost 0.10%, on the back of the decline in CAP (-2.87%).
NSE Oil & Gas Index: Inched up 0.08%, majorly driven by MRS (+4.87%).
Earnings Release
Nil
Market Insight
The Nigerian equities market closed down today following the sell-off 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
