6th December 2018

The Nigerian bourse closed on a negative note today as the All Share Index shed 107bps; Year-to-date, the index is down -19.41%.


Champion (+9.66%) topped the gainers chart today while Nigerins (-9.09%) topped the laggards table on the day.    


FBNH led both volume and value charts with 92.48m and N707.26m respectively.


A total of 17 stocks gained points while 22 stocks lost points.


Sector Update


* The NSE Banking Index lost 81bps on moderate sell-offs in Wema Bank (-3.64%), Access (-2.67%) and Zenith Bank (-1.47%). Gainers were Diamond Bank (+9.41%) and UBA (+0.65%).


* The NSE Consumer Goods Index shed 27bps on Vitafoam (-4.40%), Unilever (-1.52%) and Guinness (-1.35%). Price gains were recorded in Champion (+9.66%) and Honyflour (+8.49%).


* The NSE Oil and Gas Index gained 52bps on Oando (+4.04%).


* The NSE Industrial index closed down by 161bps on Dangcem (-2.63%). Gainers in that space today included Cutix (+8.24%) and CCNN (+1.54%).


Earnings Update




Market Commentary


Value traded was up slightly by 7.8% to $6.83m  as we saw another quiet day on the Nigerian bourse. Some crosses today included 60m FBNH at 7.65, 3m NB at 80 and 3.5m UNILEVER at 39.50. We also saw some smaller crosses in Zenith and GTBANK. Elsewhere it was quiet. We saw the likes of UACN and OANDO lifted late in the session and although the bids in DIAMOND were supplied early in the session, it started picking up momentum once again to gain +9.41%. We expect interest to continue tomorrow.


STOCK PICKS:  UBA, Zenith, Guaranty, Access, Nestle, Unilever and Okomuoil


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