Nigerian Stock Exchange This Week

The Market opened on a negative note and continued through Thursday the 4th trading day of the week to halt temporarily with a marginal gain on Friday. The Market lost four out of the five trading sessions of the week. 

The All Share index lost  2.11 to close the week at 36,603.44. This brought the year to date return of the ASI to (4.29) on the negative side of the number line.




EQUITY

A total turnover of 1.665 billion shares worth N14.834 billion in 18,795 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.219 billion shares valued at N17.333 billion that exchanged hands last week in 17,362 deals.


ETPs

Also traded during the week were a total of 340 units of Exchange Traded Products (ETPs) valued at N33,660.20 executed in 6 deals, compared with a total of 79,304 units valued at N1.491 million that was transacted last week in 18 deals.


BONDS

A total of 17,251 units of Federal Government Bond valued at N17.943 million were traded this week in 18 deals compared with a total of 13,517 units valued at N14.899 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 2.11% to close the week at 36,603.44 and N13.260 trillion respectively. Similarly, all other indices finished lower with the exception of the NSE Insurance Index that appreciated by 0.08%.

Sixteen (16) equities appreciated in price during the week, lower than twenty-one (21) in the previous week. Fifty-nine (59) equities depreciated in price, higher than fifty-five (55) equities of the previous week, while ninety-four (94) equities remained unchanged higher than ninety-three (93) equities recorded in the preceding week.


GAINERS

Stock	Year to Date Return		Stock	Week on Week Return
CCNN	162.11%		LINKASSURE	9.72%
CILEASING	89.15%		SOVRENINS	8.70%
NEM	81.33%		CCNN	8.26%
UNITYBNK	77.36%		NAHCO	7.82%
IKEJA HOTEL	75.84%		LAWUNION	6.38%
FIDSON	66.22%		NPFMCRFBK	5.88%
ETERNA	60.10%		NIGERINS	3.85%
BETAGLAS	57.86%		AFRIPRUD	3.75%
CUTIX	49.25%		CONTINSURE	3.45%
CAVERTON	47.29%		DANGCEM	3.39%

LOSERS

Stock	Year to Date Return		Stock	Week on Week Return
EQUITYASUR	-60.00%		UNIONDAC	-34.29%
AFRINSURE	-60.00%		CAPOIL	-23.33%
COURTVILLE	-60.00%		TANTALIZER	-22.22%
FTNCOCOA	-60.00%		NEIMETH	-17.31%
MULTIVERSE	-60.00%		EQUITYASUR	-16.67%
UNIC	-60.00%		WAPCO	-13.33%
TANTALIZER	-58.00%		OANDO	-13.28%
DUNLOP	-58.00%		FBNH	-12.98%
UNIONDAC	-54.00%		PZ	-11.58%
CAPOIL	-54.00%		MULTITREX	-10.00%

As expected the half year result of some of the listed company have started coming in and a total of eight results had been recorded so far. Transcorp, Dangote Cement, Wema Bank Plc all returned with impressive results but it was a little too little  to stem the slide of the Market. We expect more results to come in in the coming days and also expect the Market to analyse them and decided the direction of the second half of 2018.

Not deviating much from our assertion since the beginning of the year that the 2019 election would plaque the second half of the year because of the so many uncertainty surrounding it. Although seven months from now, the pains of the anticipation of the election is more than the election itself. The reason why there might not be respite for the Market. 

However, in the midst of this furore  lies uncommon profit for investors that can wait for a minimum of 9 months while taking their chances now. As the Market had over reacted to the uncertainty.

While we await the remaining results, especially the ones with a promise of interim dividend let us re-balance our portfolios by talking to our advisers.