Nigerian Stocks Sustain Bullish Momentum Second Straight Day on Bellwether Counters

December 5, 2017/InvestmentOne Report

The NSE-ASI gained +1.37% at the close of today’s trading session.  

LEARNAFRCA (+8.25%) was the best performer while CONTINSURE (-5.00%) led the losers’ chart.   

Similarly, market breadth index ended positive as 32 stocks gained against 11 stocks that declined. 

CUSTODYINS was the most actively traded stock with 90m units of shares accounting for 17% of total value. This said, GUARANTY (+0.70%) topped the value chart with N2.44bn worth of shares exchanged.  

Sector Performance  

·         NSE Consumer Goods Index: Best performer (+1.67%) on the back of the buy interest in CADBURY (+7.37%), DANGFLOUR (+5.17%) and NB (+3.37%)  

·         NSE Banking Index: Gains in FCMB (+7.08%), FBNH (+5.33%) and UBA (+3.98%) led the index up +1.29%. 

·         NSE Industrial Index: Inched up +0.94% , largely driven by DANGCEM (+1.71%). 

·         NSE Oil and Gas Index: Shed -0.40% due to the decline in FO (-3.91%) and ETERNA (-1.66%). 

Earnings Release 

    NIL 

Market Insight 

The equities market closed positive at the end of today’s trading session driven largely by the buy interest in bellwether stocks; DANGCEM, NB and UBA. In the near term, we highlight the potential for profit taking from the recent gains in the market. However, this may present an entry opportunity in our top picks.

TOP PICKS: ACCESS, DANGCEM, GUARANTY, NB, NESTLE, UBA & ZENITHBANK

 

opan



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