Nigerian Stock market report for May 3rd, 2018.
- The NSEASI-0.48% lost 198.21 points at the end of the session. Buying pressures were noted on some mid-cap stocks like UNITYBNK+9.52%, CCNN+7.58% and JAIZBANK+7.14% which featured on the top 10 gainers’ list. However, the greatest price shedding was observed on INTBREW-8.30% following the release of its Q12018 results today.
- A total of 320.40 million (+15.98%) shares worth NGN4.76 billion (-30.91%), were exchanged in 4,482 (-15.86%) deals while Year-to-Date return on the index moderated to 7.49%.
- The NSEBNK10+0.79% and NSEINS10+0.24% indices gained points to close higher while the reverse was noted on the NSEFBT10-1.53%, NSEOILG5-0.78%, and NSEIND-0.18%
- Based on our analysis of today’s trades, we attribute the negative close to the current negative sentiments on some large and mid-cap counters such as; DANGCEM-1.09%, NB-1.40% and INTBREW-8.30%. Beyond profit-taking, we expect investors to continue to react to earnings, as seen on INTBREW, which topped the losers’ chart today, following a Q12018 loss of NGN2.24bn.
- The NSEOILG5 index shed 78bps to close at 365.55 points today. This was due to the negative sentiments observed on stocks like OANDO-4.92%, MOBIL-0.89% and FO-4.87%. Consequently, the YtD return on the NSEOILG5 index declined to 10.54%.
