Nigerian Stock Exchange This Week

The week climaxed the month of July and ushered in August. It was characterized by the late minutes flurry of H1 results in order to beat the 31st of July deadline date. The Market has started reacting to the information, the reason we saw Union Diagnostics raking a massive 50% in return in just one week. However the index is anticlimax. it gained for the first 2 days of trading reflecting end of the month effect, lost the 3rd day, gained the 4th day and lost the 5th day to complete the circle for the week. In all, the Market gained 3 out of 5 trading sessions.

The All Share index lost 0.38 to close the week at 36,498.18. This brought the year to date return of the ASI to (4.56) still on the negative side of the number line.

EQUITY

A total turnover of 1.391 billion shares worth N20.316 billion in 20,064 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.417 billion shares valued at N16.739 billion that exchanged hands last week in 19,832 deals.



ETPs

Also traded during the week were a total of 2,304 units of Exchange Traded Products (ETPs) valued at N376,541.65 executed in 16 deals, compared with a total of 344 units valued at N50,021.24 that was transacted last week in 5 deals.


BONDS

A total of 16,463 units of Federal Government Bond valued at N18.200 million were traded this week in 27 deals compared with a total of 7,518 units valued at N7.668 million transacted last week in 9 deals.


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

The NSE All-Share Index depreciated by 0.37% while Market Capitalization appreciated by 0.38% to close the week at 36,499.67 and N13.322 trillion respectively. Similarly, all other indices finished lower with the exception of the NSE CG, NSE 30, NSE Banking and the NSE Oil/Gas Indices that appreciated by 0.55%, 0.10%, 0.83% and 6.76%.
Thirty-four (34) equities appreciated in price during the week, higher than thirty-one (31) in the previous week. Forty-eight (48) equities depreciated in price, same as forty-eight (48) equities of the previous week, while eighty-seven (87) equities remained unchanged lower than ninety (90) equities recorded in the preceding week.




GAINERS

Stock	Year to Date Return		Stock	Week on Week Return
CCNN	225.26%		UNIONDAC	50.00%
CUTIX	117.91%		NEIMETH	42.86%
CILEASING	93.80%		MBENEFIT	23.33%
NEM	77.71%		NIGERINS	15.38%
IKEJA HOTEL	75.84%		SEPLAT	13.60%
BETAGLAS	67.22%		LASACO	12.50%
FIDSON	66.22%		HMARKINS	11.11%
UNITYBNK	58.49%		EQUITYASUR	10.00%
CAVERTON	55.04%		BETAGLAS	10.00%
ETERNA	49.01%		NNFM	9.92%

LOSERS

Stock	Year to Date Return		Stock	Week on Week Return
AFRINSURE	-60.00%		SMURFIT	-18.52%
COURTVILLE	-60.00%		INTBREW	-17.57%
DUNLOP	-60.00%		DIAMONDBNK	-16.43%
FTNCOCOA	-60.00%		PHARMADEKO	-13.64%
MULTIVERSE	-60.00%		SKYEBANK	-11.43%
UNIC	-60.00%		SECURE ELECTRONIC	-10.00%
TANTALIZER	-58.00%		CAP	-10.00%
EQUITYASUR	-56.00%		CONOIL	-10.00%
CAPOIL	-50.00%		ROYALEX	-10.00%
REGALINS	-50.00%		MEDVIEWAIR	-9.81%

As expected their was last minutes rush to render the  half year results by companies yet to. The results provided the good, bad, and ugly scenarios for Market to choose from. 

As reported last week, the Market enjoyed two days gains hinged on the month end effect, thereafter slowed down due to activities of profit takers, thereby wiping out the Marginal gains within the week.

We would continue to hammer the fact that we still hold on to 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. The noise of the election and its many protagonists is drowning the noise being created by the encouraging results of the 1st half of 2018 been rendered to the public by quoted companies. Still on our submission last week, that the election is still seven months from now, but the pains of the anticipation of the election is way ahead of the election itself. The reason why the momentum generated were not sustained. 

Purging ourselves of the 7 deadly sins of investment, we reiterate our belief in Fundamental Analysis, and we see a bright light at the end of the tunnel because in the midst of this hubbub 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 of the election, which we anticipate would continue into the year in the process creating a buying opportunities.

We still await the results from SUGAZ which we expect will still need clearance from the CBN. 

A new entrant was added to the daily official list of The Nigerian Stock Exchange (NSE) in the likes of Notore Chemical Industries Plc. A total of 1.61billion ordinary shares of the company were listed by Introduction at #62.50k per share. We hope to have more information on the financials of the company in the coming days.It is worthy to mention here that it was a bold move by the company in the face of a relentless bearish Market trend and election uncertainty  to list on NSE.