Nigerian Stock Exchange This Week
It was a four days trading session this week, which climax the end of bloody May and usher in June of hope. The market completed a 13 days losing streak. The Market correction that turned into a bearish situation had left the mighty fallen. The Market declined by 7.67% in May alone contributing significantly to the loss of the gains of 2018.
Most of the highly capitalized stocks were not spared. They all fell like pack of cards and dragged the ASI down with them. This horrific performance as mentioned last week, continue to create a buying signal for the companies that had an impressive Q1 result even in the midst of these furores.
EQUITY
A total turnover of 2.699 billion shares worth N84.775 billion in 19,715 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.372 billion shares valued at N16.022 billion that exchanged hands last week in 21,099 deals
ETPs
Also traded during the week were a total of 22,080 units of Exchange Traded Products (ETPs) valued at N393,726.30 executed in 10 deals, compared with a total of 70 units valued at N1,943.00 that was transacted last week in 7 deals
BONDS
A total of 6,433 units of Federal Government valued at N6.599 million were traded this week in 12 deals, compared with a total of 10,754 units valued at N11.412 million transacted last week in 5 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 6.38% to close the week at 36,816.29 and N13.336 trillion respectively. Similarly, all other indices finished lower with the exception of the NSE ASeM Index that closed flat.
Twenty-five (25) equities appreciated in price during the week, higher than fourteen (14) in the previous week. Forty-eight (48) equities depreciated in price, lower than sixty-one (61) equities of the previous week, while ninety-six (96) equities remained unchanged higher than ninety-four (94) equities recorded in the preceding week.
Gainers
| Stock | Year to Date Return | Stock | Week on Week Return | |
| CCNN | 194.21% | ETERNA | 20.11% | |
| UNITYBNK | 75.47% | CCNN | 16.46% | |
| BETAGLAS | 70.24% | MBENEFIT | 8.57% | |
| CAVERTON | 64.34% | JAIZBANK | 6.35% | |
| FIDSON | 62.16% | DANGSUGAR | 5.76% | |
| ETERNA | 55.91% | FLOURMILL | 5.42% | |
| NPFMCRFBK | 54.40% | UNILEVER | 5.00% | |
| NEM | 54.22% | FIRSTALUM | 4.76% | |
| LEARNAFRCA | 50.00% | FIDELITYBK | 4.74% | |
| CUTIX | 49.25% | FBNH | 4.64% |
Losers
| Stock | Year to Date Return | Stock | Week on Week Return | |
| EQUITYASUR | -60.00% | INTBREW | -22.39% | |
| AFRINSURE | -60.00% | WAPCO | -16.05% | |
| COURTVILLE | -60.00% | FO | -13.64% | |
| FTNCOCOA | -60.00% | NB | -10.75% | |
| MULTIVERSE | -60.00% | NESTLE | -10.63% | |
| UNIC | -60.00% | AGLEVENT | -10.17% | |
| JAPAULOIL | -52.00% | CAVERTON | -9.79% | |
| NIGERINS | -50.00% | UBN | -9.02% | |
| REGALINS | -48.00% | UNITYKAP | -8.82% | |
| SOVRENINS | -48.00% | UNIONDAC | -8.70% |
The onslaught on the Market by foreign portfolio investors no doubt was significant in dragging the Market down. The herds effect wouldn't be rule out as it forms the basis of their investment most of the time, considering the events in emerging Markets around the world.
This is actually the time retail investors should build momentum and improve the fortune of their portfolio.
Has we have mentioned at the beginning of the year, that the major risk we see affecting the fortune of the Market this year is the Political risk, though significant but manageable.
The Foreign reserve remains resolute, although suffered some decline in recent week but the reasons are obvious, Foreign investors repatriating, summer holiday pressure demands all combining together to but pressure on the Naira and our reserve.
The CBN Governor had mentioned that the target for the year still remains to reach a 50billion dollar mark. The crude oil price trading way ahead of the Budget bench mark provides an accelerated attainment of that.
On the global Crude oil price, we expect the geopolitical risks in Venezuela, Iran even before the OPEC meeting of June to still keep price up to the benefit of Nigeria provided we are meeting our output projections.
Let us take on the Bears in the coming week and return the Market to the green territory.
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