The Nigerian Stock Exchange This Week

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The ASI recovered from the dismal performance of last week by returning 1.98% week on week.

A total turnover of 3.268 billion shares worth N28.123 billion in 35,761 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 7.157 billion shares valued at N42.545 billion that exchanged hands last week in 39,037 deals.

This week also mark the beginning of activation of the new par value and pricing methodology. The effect was pronounced majorly on insurance companies that had been startled at 50k almost a decade. This explains the reason Lasaco Insurance led the losers log with 28% week on week.

Below is the summary of the Market performance:

Gainers
StockYear to
Date  Return
UNITYBNK213.21%
WEMABANK188.46%
SKYEBANK186.00%
DIAMONDBNK116.67%
STERLNBANK110.19%
FCMB105.41%
CCNN105.26%
CAVERTON92.25%
TRANSCORP58.22%
FBNH57.39%

StockWeek on Week
Return
AIICO35.59%
UNITYBNK31.75%
WEMABANK31.58%
CILEASING25.81%
NPFMCRFBK25.00%
DIAMONDBNK23.11%
WAPIC22.95%
CHAMPION22.13%
STERLNBANK18.85%
LEARNAFRICA18.56%

Losers
StockYear to
Date
Return
LASACO-28.00%
ABCTRANS-20.00%
AFRINSURE-16.00%
ROYALEX-16.00%
AIRSERCIVE-14.29%
TRIPPLEG-13.21%
AGLEVENT-12.86%
GLAXOSMITH-12.08%
FTNCOCOA-8.00%
JAPAULOIL-8.00%

StockWeek on Week
Return
LASACO-28.00%
ABCTRANS-20.00%
LAWUNION-16.67%
AFRINSURE-16.00%
ROYALEX-16.00%
INTBREW-9.45%
LINKASSURE-9.33%
AIRSERCIVE-8.93%
FTNCOCOA-8.00%
JAPAULOIL-8.00%


The week just gone bye marked the end of a month and the beginning of another. it was a week of mixed profit taken and accumulation.  

As we mentioned in our last report, the the week would be characterized by profit taken and accumulation. We expect more accumulation in the coming week as the earning period draw nearer.

Happy Trading!!! 


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Nigerian Stock Exchange This Week

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The Market returned to its five days trading after the sallah break of last week. It wasn't a great week for the Market even as it climax the end of trading for the month of August.  The Market opened on a negative notes on Monday, however, made a bold return on Tuesday but to frizzle out for the rest of the week with a three days consecutive losses.  The All Share index lost in what seems to be the bear dominated week. The index was down  1.63% to close the week at 34,848.45. This brought the year to date return of the ASI to (8.88%) on the negative side of the number line. The bull had a larger share of the Market though, with a breadth of 3 in favour of the Bulls. However this is little to little to reflect on the overall Market as highly capitalized stocks shed weight.  EQUITY A total turnover of 1.533 billion shares worth N23.026 billion in 17,009 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 968.947 million shares
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