The Nigerian equities market resumed the week in the red zone, as the NSE All-Share Index pared by 0.27%, to settle the Year-to-Date return at -4.97%. However, volume traded and value of transactions advanced by 48.13% and 73.95% respectively. The market breadth settled at 0.61x, signifying seventeen (17) advancers as against twenty-eight (28) decliners.

LEARNAFRCA led the gainer’s chart, after appreciating by 9.38% to close at NGN0.70. The counter was trailed by DANGFLOUR, AIICO, MRS and CONTINSURE with respective gains of 8.83%, 8.62%, 8.38% and 7.92%. Contrarily, TRANSCORP (-9.00%), OANDO (-5.00%), WAPCO (-5.00%), 7UP (-5.00%) and WEMABANK (-4.92%) were the top laggards in the day.

GUINNESS, (Revenue: +5.87% YoY; PBT: -527.62% YoY; PAT: -714.67% YoY), NESTLE (Revenue: +19.91%; PBT: -73.55%; PAT: -97.19% YoY), OANDO (Revenue: +69.07%; LBT: -98.22%; LAT: +24.66% YoY), WAPCO (Revenue: -25.11%; LBT: -210.56%; LAT: -215.46% YoY) and CUSTODYINS (Gross Premium Earned: +33,01%; PBT: +4.56%; PAT: +7.61% YoY) were a few of the companies that released their 9M2016 results today. While, FLOURMILL (Revenue: +46.77%; PBT: -63.50%; PAT: -73.07% YoY) released its 6M2017 scorecard.

Market performance as measured by the NSE sector indices showed that Insurance, Oil & Gas and Food & Beverages sectors indices appreciated by 1.07%, 0.45% and 0.10% accordingly, while Industrial Goods and Banking sectors recorded declines of 1.86% and 0.94% in that order.

Market watchers attribute the negative mood in the market to general weak investors’ sentiments especially towards companies that posted poor 9M2016 scorecards. It is expected that this sentiment will linger for the most part of the week, without ruling-out the possibility of bargain hunting on stocks that have recorded substantial decline in share price.

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