Nigerian Equities Market Records Second Straight Gains on Dangote Cement

L – R: Shows Mr. Aruna Jalo-Waziri, MD/CEO, Central Securities Clearing System (CSCS) Plc; Mr. Tony Ibeziako, Ag. Capital Market Division, NSE; Mr. Oscar Onyema, CEO, NSE; Ms Patience Oniha, Director General, Debt Management Office (DMO) and Mr. Oladele Afolabi, Director Portfolio Management, Department, DMO during the Facts Behind the Listing of FGN Diaspora Bond and Eurobond Issuances at the Exchange on Thursday.

December 21, 2017/InvestmentOne Research

The Nigerian equities market registered its second consecutive gain in the week, as the NSE-ASI closed up +1.10% in today’s trading session. 

Market breadth index ended positive as 23 stocks gained  against 13 stocks that declined. 

BERGER (+4.94%) topped the gainers’ chart, while DANGSUGAR (-5.75%) had the worst performance. 

AIICO (-1.92%) was the most actively traded stock with c.211million units of shares worth c.N109m. 

Sector Performance  

·         NSE Industrial Index: Gained +2.21% on the back of the gains in DANGCEM (+3.93%). 

·        NSE Banking Index: ETI (+4.24%), ACCESS (+1.80%), FBNH (+1.69%), and UBA (+1.07%) drove the sector up +0.69%.  

·         NSE Oil and Gas Index: Declined by -0.52%, on account of the losses in TOTAL ( -4.78%) which offset the gain in SEPLAT (+0.17%). 

·        NSE Consumer Goods Index: Closed down -0.82%, largely driven by the decline in NESTLE (-1.99%), NB (-1.08%) and DANGSUGAR (-5.75%) despite the gain in INTBREW (+4.25%). 

Earnings Release 


Market Insight 

Performances were mixed across sectors today as NSE-ASI printed in the green majorly on account of the gains in DANGCEM (+3.93%). While profit taking in recent times has seen prices retraced, we maintain our view that this may present a decent entry positions in our recommended names.