NSE Ends Last Trading Day of the Week Negative, W-t-D Returns Now +10.21%

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January 12, 2018/InvestmentOne Research

The NSE-ASI ended the last trading day of the week in the red, losing -0.33%, taking WTD returns to +10.21%. 

Also, market breadth index, a gauge of investor sentiment, was relatively flat with 31 stocks declining against 30 stocks that gained.  

CCNN (+10.22%) was the top gainer while ZENITHBANK (-5.30%) led the laggards’ table. 

TRANSCORP (-0.94%) was the most actively traded stock with c.223million units of shares worth c.N500m. 

Sector Performance  

·         NSE Banking Index: Shed -2.23%, largely driven by the losses in ZENITHBANK (-5.30%), GUARANTY (-1.23%), UBA (-0.66%) and ACCESS (-1.07%). 

·         NSE Industrial Index: Gained +2.22% on account of the advancement in CCNN (+10.22%) and WAPCO (+4.21%). 

·         NSE Oil and Gas Index: Closed up +0.80%, on the back of the gains in  FO (+0.23%), CONOIL (+0.08%), MOBIL (+4.97%) and ETERNA (+4.43%) 

·         NSE Consumer Goods Index: Rose by +0.02% following the gains in  HONYFLOUR (+10.00%), GUINNESS (+3.59%) and NESTLE (+2.73%). 

Earnings Release 

NIL.

Market Insight 

The NSE-ASI closed the week in the red as investors took profit on recent gains, especially on the Banking names. In the coming week, we may see further profit taking given the performance of the market in recent times. However, this may present a decent entry opportunity into our recommended names in anticipation of the release of full year results later this quarter. 

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

 

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