Market Wrap 21/3/2018

The equities market fell for the sixth straight session today following heightened risk aversion in non-financials. Large cap – Nestle(-2.17%) dropped to a month low on weak demand; NB(-0.94%) slipped amid a glut in supply and  Wapco(-6.55%) hit a 2-month low on post right dilution.

Banking stocks traded mixed – Stanbic(-4.47%) fell on downgrades following a less than exciting outlook, Access(-2.08%) dropped on weak demand. On the flip side, UBA(+4.07%) advanced on bargain hunting, top tier Is – Zenith(+1.07%) and Guaranty(+0.34%) both gained on improved foreign demand.

Tier II banks such as Fidelity(+7.76%) and FCMB(+4.74%) also snapped a 5-day losing streak on speculative demand.

Turnover was decent at N5.6bn ($15.5m) buoyed by a 4m cross in Dangcem ($2.8m) and bargain hunting in Guaranty($2.4m). Today’s -0.46% trimmed ytd return to 8.51%, we expect the market to find support in coming sessions.

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Ezeadichie Onyeka Michael is the Co-Founder of Haelsoft, a Professional Services Company in Nigeria that provides Information and Technology Services for small and big size companies in Nigeria(Africa). He is an Entrepreneur and Venture Capitalist with Expertise in Web Technology and Digital Marketing. He has developed & Implemented Digital Marketing Strategies(Campaigns) for top brands across sectors in Finance, Telecommunication, Ecommerce who operate in the African market. His professional experience includes key roles at Google Business Group(Nigeria), Google Women on the Web (Nigeria), Edubridge Consultant and Wild Fusion where he has trained over 500 Entrepreneurs on how to use various Web Technology products to succeed online. Customer centricity, User Experience, Conversion optimization are 3 pronged framework he applies around the often-frenetic world of web analytics to ensure that clients stay competitive in the market. He believes that investing in talent is the key to long term success for brands across Nigeria (Africa).

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