Stocks Close Bearish on Weak Investors Sentiment

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December 27, 2017/InvestmentOne Research

The NSE-ASI closed the first trading day of the week negative, shedding -1.64%. 

Also, market breadth index ended negative as 24 stocks declined against 14 stocks that gained. 

CADBURY (+9.91%) was the market best performer while OKOMUOIL (-5.00%) topped the losers’ chart. 

TRANSCORP (-1.36%) was the most actively traded stock with c.107million units of shares worth c.N155m. 

Sector Performance  

·         NSE Industrial Index: Shed -2.62%, largely driven by the loss in DANGCEM (-3.96%). 

·        NSE Banking Index: Declined by -0.31% on the back of the losses in ETI (-2.80%), UBA (-0.78%), FBNH (-0.44%) and ACCESS (-0.29%)  which offset the gains in FIDELITY (+4.62%) and FCMB (+0.74%). 

·        NSE Consumer Goods Index: The decline in NB (-4.26%) drove the sector down by -1.17%  

·       NSE Oil and Gas Index: Gained +0.48% following the gains in MOBIL (+4.89%) 

Earnings Release 

NIL.

Market Insight 

The equities market was bearish today across most sectors as investor sentiments was weak. The sell-off was most noticeable in DANGCEM (-3.96%) and NB (-4.26%). With two trading sessions left to end the year, we expect the market to trade sideways even as investors position ahead of the next quarter earnings season. However, we maintain that the sell-off presents a decent entry opportunity in our recommended names.  

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

 

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