March 2, 2018/InvestmentOne Report
The Nigerian equities market closed the last trading session of the week with a marginal gain as ASI advanced by +0.08% today and +0.72% WTD.
However, market breadth index closed negative with 29 stocks declining against 26 stocks that gained.
JAPAULOIL (+8.62%) was the market best performer while UNIC (-8.33%) led the laggard’s chart.
TRANSCORP (+2.03%) topped the market in terms of volume with c.40million units of shares worth c.N81million.
NSE Oil and Gas Index: Gained +2.41% due to the advancement in TOTAL (+4.98%) and SEPLAT (+3.72%).
NSE Banking Index: Closed up by +0.80%, on the back of the buy interest in ACCESS (+2.70%), FBNH (+1.79%), GUARANTY (+1.04%) and ZENITHBANK (+0.16%).
NSE Industrial Index: Advanced by +0.72% following the gains in WAPCO (+1.80%) and DANGCEM (+0.04%).
NSE Consumer Goods Index: Shed -1.41%, largely driven by the losses in GUINNESS (-4.96%), NESTLE (-2.91%) and INTBREW (-1.13%).
The Nigerian equities market printed in the green today following the gains across most of the sectors. In the absence of any catalyst, we expect the market to remain volatile in the near term as investors continue to take positions in this earnings season. Despite the sell-off we saw in the market recently, we believe this may present entry opportunities into our quality names for investors with a medium to longer term horizon.
TOP PICKS: ACCESS, DANGCEM, GUARANTY, NB, NESTLE, UBA & ZENITHBANK