Nigerian Stock Exchange This Week

The Market returned to its five days trading after the sallah break of last week. It wasn't a great week for the Market even as it climax the end of trading for the month of August.  The Market opened on a negative notes on Monday, however, made a bold return on Tuesday but to frizzle out for the rest of the week with a three days consecutive losses. 

The All Share index lost in what seems to be the bear dominated week. The index was down  1.63% to close the week at 34,848.45. This brought the year to date return of the ASI to (8.88%) on the negative side of the number line. The bull had a larger share of the Market though, with a breadth of 3 in favour of the Bulls. However this is little to little to reflect on the overall Market as highly capitalized stocks shed weight. 

EQUITY

A total turnover of 1.533 billion shares worth N23.026 billion in 17,009 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 968.947 million shares valued at N10.246 billion that exchanged hands last week in 9,654 deals.


ETPs

Also traded during the week were a total of 2,422 units of Exchange Traded Products (ETPs) valued at N3.752 million executed in 15 deals, compared with a total of 9,205 units valued at N201,119.15 that was transacted last week in 4 deals.

BONDS

A total of 42,158 units of Federal and State Government Bonds valued at N42.397 million were traded this week in 25 deals compared with a total of 152,741 units valued at N179.381 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 1.63% to close the week at 34,848.45 and N12.722 trillion respectively. Similarly, all other indices finished lower with the exception of the NSE Consumer Goods and NSE Oil and Gas indices that rose by 0.34% and 0.97% respectively, while NSE ASeM Index closed flat

Thirty-seven (37) equities appreciated in price during the week, higher than fifteen (15) in the previous week. Thirty-four (34) equities depreciated in price, lower than forty-five (45) equities of the previous week, while ninety-eight (98) equities remained unchanged lower than one hundred and nine (109) equities recorded in the preceding week.


GAINERS

Stock	Year to Date Return		Stock	Week on Week Return
CCNN	225.26%		PORTPAINT	20.65%
NEM	104.82%		AIICO	17.14%
CUTIX	97.01%		PZ	14.94%
CILEASING	93.80%		TRANSCORP	14.55%
FIDSON	66.22%		NEM	13.33%
ETERNA	65.02%		FLOURMILL	13.02%
AIICO	57.69%		DIAMONDBNK	11.82%
BETAGLAS	52.02%		ETERNA	11.67%
CAVERTON	50.39%		NIGERINS	10.00%
UNITYBNK	39.62%		CAVERTON	9.60%

LOSERS

Stock	Year to Date Return		Stock	Week on Week Return
SUNUASUR	-60.00%		IKEJA HOTEL	-18.64%
AFRINSURE	-60.00%		FIRSTALUM	-15.00%
COURTVILLE	-60.00%		GLAXOSMITH	-14.38%
DUNLOP	-60.00%		FO	-13.04%
FTNCOCOA	-60.00%		SKYEBANK	-10.53%
MULTIVERSE	-60.00%		WAPCO	-10.48%
UNIC	-60.00%		LAWUNION	-9.88%
TANTALIZER	-58.00%		MANSARD	-9.80%
FO	-54.00%		INTENEGINS	-9.52%
REGALINS	-54.00%		STDINSURE	-9.52%

The Market continue to bleed, even  though the Market breadth was in favor of the bulls, it can be seen from the Market breadth that it was as a result of the highly capitalized companies losing ground.

As we enter into the new month, which would usher us into the end of the third quarter. the holding period is becoming shorter for very short term investors. The yield of most of these stocks had become attractive due to diminution in their prices.   However, the greater the loss the greater the opportunity created for value investors. We would not stop to emphasize that you have to be greedy when others are fearful. There is no better time than now. Even if the Market decelerate after you must have taken a position in a solid company.

We don't expect much from the Market due to sale pressure that may come from schools reopening and school fees payment. The Market will continue to behave in this manner till the end of the year trading in a very tiny band as events unfold.

The remaining two of the SUGAZ released their results in the course of the week and the Market had responded appropriately to them. The two are Access Bank and UBA and they declare a dividend of 25k and 20k respectively. With qualification date for the dividend being 12th of September for both companies.

Happy Trading.