Nigerian Equities Market Up +0.04% on Gains in Industrial, Oil & Gas Counters

March 13, 2018/InvestmentOne Update

The Nigerian equities market was somewhat flat today, gaining 0.04%.
However, market breadth index ended negative with 39 stocks declining against 26 stocks that gained.
CUTIX (+6.12%) had the best performance while JAPAULOIL (-8.33%) topped the laggardsâ chart.
ZENITHBANK (-1.77%) was the most actively traded with c. 70million units of shares worth c.N2.2billion.
Sector Performance
NSE Oil & Gas Index: Gained 0.86%, largely driven by MOBIL (+4.97%), ETERNA (+3.79%) and TOTAL (+1.18%)
NSE Industrial Index: Closed up by 0.68%, following the gains in DANGCEM (+1.28%).
NSE Banking Index: Shed -0.82%, on the back of the sell-off in UNITYBNK (-4.88%), WEMABANK (-4.12%), ZENITHBANK (-1.77%) and UBA (-1.22%)
NSE Consumer Goods Index: Lost -0.37% due to the losses in UNILEVER (-4.93%), HONYFLOUR (-4.91%) and DANGSUGAR (-4.50%)
Earnings Release
NIL
Market Insight
The Nigerian equities market printed in positive territory today following the gains in the Industrial and Oil & Gas names. 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. Nonetheless, we advise entry into our quality names for investors with a medium to longer term horizon.
TOP PICKS: ACCESS, DANGCEM, GUARANTY, NB, NESTLE, UBA & ZENITHBANK

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