Vetiva Capital Management - Consumer Goods logs first gain of the year

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Vetiva Capital Management

Consumer Goods logs first gain of the year

What shaped the market today?

The Nigerian Bourse snapped three consecutive sessions of losses to close mildly higher (NSE ASI up +8bps) at week close, fueled by pocket of gains across board. Global market traded mixed with inauguration of President-elect Donald Trump taking centre stage as investors look forward to clues on policy direction.
After lingering in the red for thirteen consecutive sessions, the Consumer Goods sector (+21bps) finally notched its first gain of the year thanks to advances across GUINNESS (+461bps), NASCON (+414bps), HONYFLOUR (+33bps) and DANGSUGAR (+157bps). Despite losses in WEMABANK (-556bps), DIAMONDBNK (-459bps) and ETI (-99bps), the Banking Sector (+16bps) held on to previous sessionâ€™s gains on the back of advances in large cap ZENITHBANK (+101bps) and GUARANTY (+25bps). However, the Oil & Gas sector (-69bps) swung into the red following losses in TOTAL (-474bp), SEPLAT (-135bps) and FO (-75bps) whilst the Industrial Goods sector closed flat amidst continuous gains in small-cap CUTIX (+461bps).
Market breadth remained positive with 27 advances and 14 declines.

What will shape the next trading session?

Following todayâ€™s turnaround in the Consumer Goods sector, we anticipate further bargain hunting in the sector. Coupled with fairly sustained appeal for banking stocks, we expect the market to trade higher at week open.

20/01/2017 3 EN

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Vetiva Capital Management

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Consumer Goods logs first gain of the year

Breakfast Report - 19 June 2024

Nestle Nigeria Plc Q1'24 Earnings Release - Topline surge unable to mitigate headwinds

Nigerian Breweries Q1'24 Earnings Release - Price increases drive performance

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