Nigerian Stock Exchange This Week

The Market opened the 2nd half on a negative note after the breath taking closed to the 1st half of the year in a marginal profit. The Market lost four out of the Five trading session, which we hope would not be the momentum of the Market for the remaining trading days of the year. 

The All Share index lost  1.71 to close the week at 37,625.59. This brought the year to date return of the ASI to (1.61) on the negative side of the number line.


EQUITY
A total turnover of 1.842 billion shares worth N16.594 billion in 18,941 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 2.004 billion shares valued at N21.582 billion that exchanged hands last week in 18,534 deals.


ETPs
Also traded during the week were a total of 25,220 units of Exchange Traded Products (ETPs) valued at N454,438.90 executed in 4 deals, compared with a total of 4,211 units valued at N96,115.90 that was transacted last week in 18 deals



BONDS

A total of 2,359 units of Federal Government valued at N2.188 million were traded this week in 24 deals, compared with a total of 6,108 units valued at N3.710 million transacted last week in 13 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 1.71% to close the week at 37,625.59 and N13.630 trillion respectively. Similarly, all other indices finished lower with the exception of the NSE Insurance Index that appreciated by 0.53%.

Twenty-seven (27) equities appreciated in price during the week, lower than thirty-two (32) in the previous week. Forty-five (45) equities depreciated in price, higher than thirty-nine (39) equities of the previous week, while ninety-seven (97) equities remained unchanged lower than ninety-eight (98) equities recorded in the preceding week.



GAINERS

Stock	Year to Date Return		Stock	Week on Week Return
UNITYBNK	109.43%		MBENEFIT	21.62%
NEM	104.82%		MULTIVERSE	20.00%
IKEJA HOTEL	75.84%		UNITYBNK	14.43%
BETAGLAS	75.40%		UPL	9.44%
LEARNAFRCA	75.00%		ROYALEX	9.09%
CILEASING	74.42%		CILEASING	8.70%
ETERNA	65.76%		AIICO	8.20%
FIDSON	62.16%		JBERGER	7.27%
CAVERTON	55.81%		HMARKINS	6.90%
CUTIX	49.25%		NEM	6.25%

LOSERS

Stock	Year to Date Return		Stock	Week on Week Return
AFRINSURE	-60.00%		FO	-19.79%
COURTVILLE	-60.00%		OMOMORBNK	-18.31%
FTNCOCOA	-60.00%		MCNICHOLS	-17.35%
UNIC	-60.00%		CORNERST	-17.14%
EQUITYASUR	-56.00%		MRS	-16.64%
MULTIVERSE	-52.00%		HONYFLOUR	-11.79%
REGALINS	-52.00%		SOVRENINS	-10.00%
NIGERINS	-46.00%		MOBIL	-9.84%
SOVRENINS	-46.00%		CAPOIL	-9.09%
DUNLOP	-42.00%		TRANSCORP	-8.57%

The first half of the year had gone bye, the second half is clouded by the uncertainty concerning the upcoming election. The Election remains the major concern for both local and foreign investors and until the Election passes bye the Market may not know respite.

The Forex Market remains resolute and with the currency swap deal with China we expect that Market to be stable unless we see a scandalous Economic shock which will drastically affect our reserve. 

Even with OPEC increasing output, but with concern about Venezuela, and Iran impending  Oil embargo we may not see much volatility in that Market unless the US eventually release its reserve, which may be a long call.

The Market is expected to gather momentum going into the month due to expectation of declaration of interim dividend by some of the quoted companies. The activities of dividend hunter would expectedly spark  interest in the Market.

Opportunity still remains abound in the Market due to the accelerated diminution suffer by most of the listed equity between May and June 2018

The NSE is also trying to sanitize the Market, the reason behind the suspension of eight companies namely:African Alliance Insurance Plc,Cornerstone Insurance Plc, R. T. Briscoe Plc, Royal Exchange Plc,STACO Insurance Plc,Standard Alliance Insurance Plc, Universal Insurance Company Plc  and Veritas Kapital Assurance Plc. This is not the first time the Exchange would be exerting this pressure of which we expect the affected companies to respond positively by meeting up with their post listing requirements.

The Book Building of MTN is currently in the pipe line, we expect this to provide a distinct experience for the Market compare to other companies in the telecommunication industry that had graced the Market.