Nigerian Stock Exchange This Week
The Market did not perform better this past week as it lost four out of the five trading days of the week. However amidst these unprecedented performance of the Market some penny stocks recorded remarkable returns that actually came as a surprise . Sovereign Insursnce, Mutual Benefit and NPF Micro finance Bank returned 30%, 17.86% and 10.23% respectively to lead the gainers log for the week. As mentioned last week, that the heat created by the Q1 results had died down for now, however, 59 results presented good investment opportunities for long term investors. This results are still worth considering. You can check our previous post for these companies and their stocks.
EQUITY
A total turnover of 1.457 billion shares worth N23.666 billion in 19,674 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.586 billion shares valued at N25.992 billion that exchanged hands last week in 21,115 deals.
ETPs
Also traded during the week were a total of 153,246 units of Exchange Traded Products (ETPs) valued at N4.009 million executed in 22 deals, compared with a total of 444,190 units valued at N2.514 million that was transacted last week in 11 deals.
BONDS
A total of 7,508 units of Federal Government valued at N7.506 million were traded this week in 12 deals, compared with a total of 7,647 units valued at N8.047 million transacted last week in 30 deals.
Below is the summary of the Market performance: Week on Week and Year to Date
The NSE All-Share Index and Market Capitalization depreciated by 1.34% to close the week at 40,472.45 and N14.660 trillion respectively.
Similarly, all other indices finished lower with the exception of the NSE Consumer Goods Index which appreciated by 0.03%, while the NSE ASeM Index closed flat.
Twenty (20) equities appreciated in price during the week, higher than thirty-five (35) in the previous week. Fifty-four (54) equities depreciated in price, higher than forty-nine (49) equities of the previous week, while Ninety-five (95) equities remained unchanged higher than eighty-five (85) equities recorded in the preceding week
Gainers
| Stock | Year to Date Return | Stock | Week on Week Return | |
| CCNN | 152.63% | SOVRENINS | 30.00% | |
| UNITYBNK | 126.42% | MBENEFIT | 17.86% | |
| CAVERTON | 99.22% | NPFMCRFBK | 10.23% | |
| FCMB | 75.68% | FIDSON | 7.06% | |
| BETAGLAS | 70.24% | BETAGLAS | 4.99% | |
| SKYEBANK | 70.00% | CONTINSURE | 4.90% | |
| WEMABANK | 69.23% | UAC-PROP | 4.65% | |
| NEM | 68.67% | PRESTIGE | 4.35% | |
| ETERNA | 67.00% | CUTIX | 3.28% | |
| CUTIX | 56.72% | CAP | 2.83% |
Losers
| Stock | Year to Date Return | Stock | Week on Week Return | |
| AFRINSURE | -60.00% | JAPAULOIL | -25.00% | |
| COURTVILLE | -60.00% | SKYEBANK | -19.15% | |
| FTNCOCOA | -60.00% | DIAMONDBNK | -18.42% | |
| MULTIVERSE | -60.00% | CCNN | -17.24% | |
| UNIC | -60.00% | FIDELITYBK | -14.68% | |
| SOVRENINS | -56.00% | UNITYKAP | -14.29% | |
| EQUITYASUR | -50.00% | EQUITYASUR | -13.79% | |
| MBENEFIT | -48.00% | OKOMUOIL | -12.89% | |
| HMARKINS | -46.00% | CILEASING | -12.87% | |
| REGALINS | -46.00% | NIGERINS | -12.50% |
The table to turned against CCNN in the past week as it lost 17.24% to be among the top losers. The moribund deal of Milost with Japaul Oil and Unity bank have affected the pricing of the two stocks in recent time and they are falling like a pack of cards. The two companies truly needs face savings amidst this turmoil as they really need capital injection.
We hope MPR committee at their next meeting would take a good look at the current MPR rate at 14%. Now that the Consumer Price Index (CPI) now 12.48% from the recent release of the Nigerian Bureau of Statistics (NBS).
We are of the opinion that a reduction in the current MPR rate should have a positive effect on the equity market going into the third quarter of the year.
While we keep our fingers crossed, we look forward to a rewarding week of trading.
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