Market Update

Nigerian Equities Market Consolidates Recovery Adds 39Bpts

Consolidating the recovery attempt posted on Monday, the performance index of the Nigerian Stock Exchange added 39Bpts to end the day’s trading activities at 28,034.32. All observed market indices closed green except NSE-Insurance and NSE-Industrial Goods.

The market capitalization of the listed equities was revalued up by N37.425 billion, implying a growth of 0.39% over the previous close value. WtD, the market is up by 72Bpts while the MtD returns remained negative (106Bpts). See index movement table for details.

Today’s trading activities produced 13 advancers and 21 lagers. NSEASI YtD return is currently -2.12% while the Market Capitalization YtD return stood at –N221.370 billion.

During today’s trading activities, the management of UBA unveiled its nine months financial performance where it grew profit marginally against comparable period.

In our opinion, four sectors may be considered for impressive/good nine months earnings;

Banking sector: Guaranty Trust, Access Bank, Zenith Bank, UBA, UBN are in our consideration list for the quarter

Oil & Gas: Forte Oil, Total, and Mobil

Insurance/ Service companies: AIICO, Continental Re-insurance and other servicing companies such as African Prudentials, UCAP and NPF-Micro Finance.

Agriculture: Presco, Okomu Oil and Airline Services might be considered in this sector.

Volume Index for week’s activity is 0.99 while buy volume and sell volume momentum is estimated at 83% and 17% respectively.



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