Nigerian Stock Exchange This Week

The Market opened on a positive note coming from the dismal performance of last week. But it was to go on a losing streak of three days that was only halted on Friday, which was a little too little to save the Market from closing on a losing note. The Market lost three out of the Five trading session of the week. 

The All Share index lost  0.62 to close the week at 37,392.77. This brought the year to date return of the ASI to (2.22) on the negative side of the number line.




EQUITY

A total turnover of 1.219 billion shares worth N17.333 billion in 17,362 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.842 billion shares valued at N16.594 billion that exchanged hands last week in 18,941 deals.

ETPs

Also traded during the week were a total of 79,304 units of Exchange Traded Products (ETPs) valued at N1.491 million executed in 18 deals, compared with a total of 25,220 units valued at N454,438.90 that was transacted last week in 4 deals.


BONDS

A total of 13,517 units of Federal Government valued at N14.899 million were traded this week in 30 deals, compared with a total of 2,359 units valued at N2.188 million transacted last week in 24 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 0.62% to close the week at 37,392.77 and N13.546 trillion respectively. Similarly, all other indices finished lower with the exception of the NSE Oil/Gas and the NSE Lotus II Indices that appreciated by 0.71% and 0.37% respectively

Twenty-one (21) equities appreciated in price during the week, lower than twenty-seven (27) in the previous week. Fifty-five (55) equities depreciated in price, higher than forty-five (45) equities of the previous week, while ninety-three (93) equities remained unchanged lower than ninety-seven (97) equities recorded in the preceding week.




GAINERS

Stock	Year to Date Return		Stock	Week on Week Return
CCNN	142.11%		CUSTODIAN	17.47%
UNITYBNK	94.34%		CILEASING	10.22%
CILEASING	92.25%		FO	9.68%
NEM	86.75%		MOBIL	9.39%
IKEJA HOTEL	75.84%		EQUITYASUR	9.09%
FIDSON	66.22%		REGALINS	8.33%
CAVERTON	62.79%		FIRSTALUM	7.89%
LEARNAFRCA	59.09%		CAP	5.71%
BETAGLAS	57.86%		VITAFOAM	4.84%
ETERNA	57.64%		CAVERTON	4.48%

LOSERS

Stock	Year to Date Return		Stock	Week on Week Return
MULTIVERSE	-60.00%		TANTALIZER	-25.00%
AFRINSURE	-60.00%		MBENEFIT	-24.44%
COURTVILLE	-60.00%		DUNLOP	-20.69%
FTNCOCOA	-60.00%		MULTIVERSE	-16.67%
UNIC	-60.00%		SOVRENINS	-14.81%
DUNLOP	-54.00%		INITSPLC	-13.89%
SOVRENINS	-54.00%		SKYEBANK	-13.70%
EQUITYASUR	-52.00%		JAPAULOIL	-11.11%
NIGERINS	-48.00%		LINKASSURE	-10.00%
REGALINS	-48.00%		BETAGLAS	-10.00%

We expect the half year result of some of the listed company to start coming in anytime from next week. There is still huge pessimism around the general election coming up next year, however, the upcoming election in Ekiti State may shed some light into that, fingers crossed.

The External reserve still remains positive though suffered a setback this week but we don't expect that to be reversed in the coming days.

The impending embargo on Iran Oil is still expected to keep crude oil price up even with increase output as agreed by the members of OPEC. 

Nigeria debt profile had been a talking point in the past couple of weeks, and our ability to continue to service this debts one of the major concern, the DMO have always come out to defend their actions.  However, judging by the impressive performance of the income generating arms of the executive we expect a neutralizing effect on whatever the debt profile may be. The FIRS as at half year 2018 had achieve 75% of the budgeted target, in addition the Custom services is doing very well too, we lean towards the  DMO accession. 

The Market continue to await the coming of MTN. However, base on the publication of SEC it seems we still have a long way to go. We hope before the end of the year we may see this, but looking at the 2019 election a major factor, it may not come this year.

The Market will continue to trade side way until the half year results start coming in to give some spike and thereafter cool down for the rest of the year.