Stocks Close Marginally Down by -0.03% on Low Investors Sentiment

November 2, 2017/InvestmentOne Research

The Nigerian equities market closed marginally down today, losing -0.03%. 

FBNH (+9.22%) was the market’s best performer while CUSTODYNS (-5.00%) was the worst performer. 

Market breadth index closed positive as 27 stocks gained against 18 stocks that declined. 

FBNH (+9.22%) led the market in terms of volume with a total of c.73m units of shares while NB (-3.18%) led the value chart with  N739m worth of shares traded. 

Sector Performance  

·         NSE Banking Index: Closed positive +0.72% following the gains in FBNH (+9.22%), UBA (+4.06%) and UBN (+1.65%). 

·         NSE Consumer Goods Index: Closed in the red -1.21% on account of the sell-off in PZ (-4.02%), VITAFOAM (-3.51%) and NB (-3.18%) . 

·         NSE Insurance Index: Advanced by +0.67% following the gains in MANSARD (+2.94%) and  CONTINSURE (+2.26%). 

·         NSE Industrial Index: Shed (-0.11%) due to decline in DANGCEM (-0.22%) . 

·         NSE Oil and Gas Index: Closed flat today. 

Market Insight 

The ASI closed somewhat flat today as investors’ sentiment was relatively low. The market was largely driven by the sell-off in NB. Going forwards, we may see investors take profit on recent gains. Nonetheless, this may present an entry opportunity in our recommended names.

opan



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