Nigerian Stocks Reverses Bearish Trends, as W-t-D Down -2.09%

December 15, 2017/InvestmentOne Research

The equities market reversed its bearish trends, as it closed positive today. NSE-ASI gained +1.32% to close at 38,436.08pts but down -2.09% WTD. 

However, market breadth index ended negative as 25 stocks declined against 12 stocks that gained. 

The market’s best performer was DANGCEM (+4.35%) while OKOMUOIL (-5.00%) topped the losers’ chart. 

ZENITHBANK (+2.84%) was the most actively traded stock with c.127million units of shares worth c.N3.26bn. 

Sector Performance  

·         NSE Industrial Index: Gained +1.64%, largely driven by the gain in DANGCEM (+4.35%) despite the sell-off in WAPCO (-2.25%). 

·        NSE Consumer Goods Index: Advanced by  +0.57%, following the gains in  NB (+2.52%) and VITAFOAM (+1.82%). 

·        NSE Banking Index: Down -0.07%, largely driven by the sell-off in ACCESS (-3.08%), FCMB (-3.03%), DIAMONDBNK (-2.72%), and UBA (-1.18%) which more than outweighed the gain in ZENITHBANK (+2.84%). 

·         NSE Oil and Gas Index: Closed flat. 

Earnings Release

NIL.

Market Insight 

The equities market was bullish today, with the advancement in NSE-ASI largely driven by the gains in DANGCEM (+4.35%) and NB (+2.25%). Notwithstanding the low sentiment in the market, we maintain that the recent sell-off during the week presents a good entry position in our recommended names.

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

opan



investadvocate