NSEASI Closes Positive at +0.25% on Renewed Investors Sentiment

October 25, 2017/InvestmentOne Research

The Nigerian equities market advanced +0.25% today. 

Market breadth index closed positive  today as 24 stocks gained against 12 stocks that declined.  

The best performing stock was FIDSON (+9.82%) while CUTIX (-9.36%) was the top loser.                        

UBA (+3.30%) topped the volume while ZENITH (+1.19%) topped the value chart in the market today with c.85m units of shares  and c.N1.1bn respectively.  

Sector Performance  

·         NSE Banking Index: The index  rose by +0.68%  on the back of gains recorded in ZENITH (+1.19%) and UBA (+1.11%)

·         NSE Consumer Goods Index: Closed positive +0.05% as a result of the gains in HONYFLOUR (+7.03%) and GLAXOSMITH (+5.00%).

·         NSE Industrial Index: Closed down  -0.03% driven by the losses in  CUTIX (-9.36%)

·         NSE Insurance Index: Closed down, -1.16% driven by the losses in MANSARD (-3.85%) and  CONTINSURE (-2.96%)

Market Insight 

The ASI closed positive in today’s trading session (c.N4.6bn worth of shares traded) as investors sentiment improved further . Going forward we expect performance in the market to be largely driven further by earnings releases and expectations. We expect investors to still take position in some of the fundamentally sound stocks in our topic picks.

TOP PICKS: ACCESS, DANGCEM, GUARANTY, NB, NESTLE, UBA & ZENITH BANK

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