NSE Closes Second Trading Day Positive as CNN Reports it as One of Five Best Performing Exchange in 2017

December 28, 2017/InvestmentOne Research

The NSE-ASI closed the second trading day of the week positive, gaining +0.27%. 

Also, market breadth index ended positive as 26 stocks gained against 9 stocks that declined. 

CUTIX (+5.00%) was the market best performer while LINKASSURE (-4.35%) topped the losers’ chart. 

TRANSCORP was the most actively traded stock with c.100million units of shares worth c.N145m. 

Sector Performance  

·           NSE Industrial Index: Gained +1.47%, largely driven by the gain in WAPCO (+4.65%). 

·           NSE Banking Index: Advanced by +0.11% on the back of the gains in STERLNBANK (+4.04%), FCMB (+3.68%), UBA (+0.78%) and FBNH (+0.33%). 

·           NSE Consumer Goods Index: The gains in UACN (+3.62%), NB (+0.87%), NESTLE (+0.68%) and FLOURMILL (+0.60%) drove the sector up by +0.47% . 

·           NSE Oil and Gas Index: Gained +1.08% following the gains in TOTAL (+5.00%) and MOBIL (+4.85%). 

Earnings Release 

NIL.

Market Insight 

The equities market was bullish today across most sectors as investors’ sentiments improved. In the near term, we expect investors to take advantage of the recent sell-off in the equities market in anticipation of the release of full year results in Q1 2018. Similarly, we maintain our stance on some of the recommended names and advise entry into them ahead of the earning season. 

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

 

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