The equities market ended a mixed session flat as earnings induced selling in financials was offset by bargain hunting in a few defensive stocks.

Market Wrap 13/3/2018

The equities market ended a mixed session flat as earnings induced selling in financials was offset by bargain hunting in a few defensive stocks. With provisions seemingly casting a shadow over Zenith’s result(-1.77%), sellers found more reasons to exit….capitalizing on the improved foreign demand post earnings. Provision fears tapered demand in UBA(-1.22%), Guaranty(-0.53%) and Access(-0.39%). Consumer stocks traded mixed – Unilever(-4.93%) dropped on a mini-correction; Dangsugar(-4.50%) followed Nascon(-4.35%) lower on post earnings selling. On the flip side, Nestle(+1.45%) rallied on a last minute foreign demand and Flourmill(+1.88%) advanced on post capital raise optimism

Turnover was decent at N6.1bn ($16.8m) buoyed mainly by increased activities in Zenith($6m). Today’s marginal +0.04% gain lifted ytd return to +12.63%, we expect the market to tick lower tomorrow on residual offers.

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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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