Nigerian Stock Exchange This Week

The Market made a roaring come back after a dismal performance in May, and was able to claw back some of its previous losses. The Market broke the 13 days losing streak on Monday and started a gaining run that climax on Thursday, because the Market lost of Friday

The bargain hunters harped on the opportunities provided by the accelerated losses of May. 

The All Share index gained 5.03% to close the week at 38,669.23. This brought the year to date return of the ASI to 1.11% as it is now on a borderline.

EQUITY

A total turnover of 1.749 billion shares worth N31.183 billion in 24,604 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 2.699 billion shares valued at N84.775 billion that exchanged hands last week in 19,715 deals


ETPs

Also traded during the week were a total of 202,916 units of Exchange Traded Products (ETPs) valued at N1.168 million executed in 19 deals, compared with a total of 22,080 units valued at N393,726.30 that was transacted last week in 10 deals.



BONDS

A total of 10,561 units of Federal Government valued at N10.381 million were traded this week in 20 deals, compared with a total of 6,433 units valued at N6.599 million transacted last week in 12 deals.

Below is the summary of the Market performance: Week on Week and Year to Date


The NSE All-Share Index and Market Capitalization appreciated by 5.03% and 5.04% to close the week at 38,669.23 and N14.008 trillion respectively. Similarly, all other indices finished higher with the exception of the NSE Insurance and NSE Oil/Gas Indices that depreciated by 0.61% and 1.34% respectively, while the NSE ASeM Index closed flat.

Forty-Nine (49) equities appreciated in price during the week, higher than twenty-five (25) in the previous week. Twenty-nine (29) equities depreciated in price, lower than forty-eight (48) equities of the previous week, while ninety-one (91) equities remained unchanged lower than ninety-four (94) equities recorded in the preceding week.


GAINERS

Stock	Year to Date Return		Stock	Week on Week Return
CCNN	180.00%		JAPAULOIL	40.91%
CAVERTON	78.29%		PRESTIGE	39.58%
UNITYBNK	71.70%		NASCON	17.89%
BETAGLAS	70.24%		CILEASING	17.52%
LEARNAFRCA	63.64%		DANGFLOUR	17.13%
FCMB	62.16%		WAPCO	17.06%
FIDSON	62.16%		DANGSUGAR	14.61%
ETERNA	61.58%		FIDELITYBK	14.57%
CUTIX	56.22%		TRANSCORP	14.40%
SKYEBANK	52.00%		NB	13.59%

LOSERS

Stock	Year to Date Return		Stock	Week on Week Return
AFRINSURE	-60.00%		NPFMCRFBK	-14.51%
COURTVILLE	-60.00%		HMARKINS	-12.90%
EQUITYASUR	-60.00%		FIRSTALUM	-9.09%
FTNCOCOA	-60.00%		LASACO	-7.89%
MULTIVERSE	-60.00%		PRESCO	-6.20%
UNIC	-60.00%		MAYBAKER	-5.66%
NIGERINS	-50.00%		MBENEFIT	-5.26%
REGALINS	-48.00%		PZ	-5.03%
HMARKINS	-46.00%		GUINEAINS	-5.00%
SOVRENINS	-46.00%		SKYESHELTER	-5.00%

The onslaught on the Market finally halted and the Market was able to garner a four days gain before profit taker rampaged it once again on Friday. 

If i may ask, what actually Changed? 

From my own point of view, the economy is still trending has it had been since the beginning of the year, the budget though passed but not yet accented to and socio-political risk still remains has it had been since the turn of the year. 

Then what changed? The only thing that changed was the psychology of the investors towards the Market, both local and foreign.

As we mentioned last week, there is still room for time retail investors to rebuild momentum and improve the fortune of their portfolio. 

Also as 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.  

Standing by our affirmation that the Foreign reserve remains resolute, although suffered some decline in recent week including the just concluded one, but the reasons are obvious, as reported last week.

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 to put pressure on price, although there had been some pull back due to uncertainty surrounding the outcome of OPEC and Russia deal on output but analyst are of the opinion that price will stay up.

We can only wish the investor psychology remains positive going into the new week and for the rest of the month.