Equities Market Tanks by 131 Bps on Industrials, Oil/Gas and Insurance Stocks …

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The Nigerian Stock Exchange closed in positive territory as the twin market performance measures, NSE ASI and market capitalisation, rose 131 bps each to close at 36,462 points
and N12.78trillion respectively.

On a year-to-date basis, equities gained 37.45%.
On a sectoral front, the NSE Industrial Index, the NSE Banking Index, the NSE Oil/Gas Index and the NSE Insurance Index declined by 143bps, 59bps, 23bps and 253bps to close at
2,036.91 points, 285.58 points, and 137.74 points respectively.
The boost in performance of the insurance sub-index reflected a postive earnings season for listed insurance companies.
Meanwhile, total Deals and Naira votes rose w-o-w by 14.05% and 7.99% to 21,891 deals
and N17.71billion respectively.
However, transacted volumes fell by 2.26% to 1.36 billion shares.
On the sidelines of trading activities, food and beverage giant, Nestle Nigeria Plc (Q3 2017) reported a 43.06% y-o-y growth in turnover to N185.
24billion while profit after tax increased y-o-y by 4,641.13% to N22.98billion.
This week, we anticipate likely speculative bargain hunting follwing previous week‟s market price correction and general improvement in quarterly earnings
.

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