April 4, 2019/InvestmentOne Report

The Nigerian equities market closed the fourth trading session of the week in red, losing 0.39%.

Similarly, market breadth index was negative with 11 gainers against 19 losers. 

FO (+9.82%) led the gainers’ chart while CAP (-9.89%) was the top loser today.  

STERLNBANK (+2.82%) was the most actively traded stock with about 125million units of shares worth N299million.  

Sector Performance 

·         NSE Consumer Goods Index: Shed 0.45%, majorly driven by the losses in DANGFLOUR (-5.88%), DANGSUGAR (-3.17%) and UNILEVER (-1.96%). 

·         NSE Industrial Index: Closed down by 0.45%, following the selloff in DANGCEM (-0.53%).  

·         NSE Banking Index: Lost 0.37%, on the back of the declines in UNITYBNK (-9.30%), ACCESS (-4.27%) and WEMABANK (-4.11%). 

·         NSE Oil & Gas Index: Advanced by 0.45%, largely driven by the gains in FO (+9.82%) and OANDO (+3.13%). 

Market Insight 

The equities market closed down today following the losses across most sectors. Despite the recent sell-off in the equities market, we believe prices at current level presents decent entry opportunities for investors with medium to long term horizon.