Nigerian Equities Market Halts Bearish Run, Up +0.93% on Gains In Consumer, Industrial Goods Counters

L – R: Shows Oscar Onyema, CEO NSE with Paul Smith, President/CEO, CFA Institute after Oscar’s Keynote presentation, titled: “Investing In Nigeria: Exploring the Investment Potential of One Africa’s Leading Economy” at 71st CFA Institute Annual Conference, “themed: Future of Global Investing” in Hong Kong on Monday.

May 16, 2018/InvestmentOne Report

The Nigerian equities market closed up today as NSE-ASI gained 0.93%.
However, market breadth index was negative with 15 gainers against 30 stocks that declined.
CUTIX (+5.00%) led the gainersâ chart while SKYEBANK (-9.41%) was the worst performing stock today.
DIAMONDBNK(-9.15%) was the most actively traded with 69million units of shares worth N102.23million.
Sector Performance
 NSE Consumer Goods Index: Rose by 1.63%, due to the buy interest in UNILEVER (+4.91%), CHAMPION (+3.48%), DANGSUGAR (+2.43%) and NB (+2.32%).
NSE Industrial Index: Inched up by 0.74%, on the back of the gain in DANGCEM (+2.67%).
NSE Banking Index: Fell by 0.39%, largely driven the losses in SKYEBANK (-9.41%), DIAMONDBNK (-9.15%), UBN (-5.19%), UNITYBNK, (-2.00%), ACCESS (-1.79%) and FBNH (-1.30%).
NSE Oil & Gas Index: Lost 0.34% largely driven by sell offs in JAPAULOIL (-5.71%), CAVERTON (-4.55%), FO (-3.13%) and OANDO (-2.70%)
Earnings Release
Nil
Market Insight
The Nigerian equities market closed up today on the back of gains in Consumer Goods and Industrial sectors. Going forward, we expect the market to remain volatile in the absence of positive news flow. With this said, we highlight that the recent sell-off in the equities market presents an entry opportunity for investors with a medium to longer term horizon.
TOP PICKS: ACCESS, DANGCEM, GUARANTY, NB, NESTLE, UBA & ZENITHBANK

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