Market Update

Nigerian Equities Market Update- 18th November, 2016

Rounding off the week with the bear, the performance index of The Nigerian Stock Exchange gave up another 24Bpts to close the week at 25,537.54. Thus, a total of 242Bpts were lost during the week, while lost points in November is 618Bpts. Nse Premium and Nse Insurance added 5BPts and 78Bpts respectively and other observed market indices closed red. See the index movement table for details.

Value lost by the market capitalization of the listed equities during Friday’s trading activities is N21,429 billion same as 24Bpts from the opening value. Meanwhile, today’s trading activities produced 6 advancers and 33 lagers. NSEASI YtD return is negative -10.84% while the Market Capitalization YtD loss stood at             -N1.059 trillion.

The share price of Nigerian Breweries was adjusted on Thursday for the N1.00 interim dividend recently announced. Payment date is 24th November, 2016.

Leading the gainers log for the week is May&Baker that added 12.94% to close at N0.96 from N0.85. Access Bank followed with 3.77% gain while Dangote Sugar Union Bank and Consolidated Reinsurance followed with 3.68%, 3.37% and 2.97% respectively. On the other hand, the lagers log was topped by Forte Oil with 20.89% followed by Transcorp that shed 18.6%. Flour Mills, Paint&Coatings and Wema Bank completed the top 5 losers with 14.38%, 13.10% and 12.70%.

No support has been identified with the lead performance index NSEASI at the moment, and we have not seen any reversal signal. Nevertheless, we recommend that traders consider positions (in tranches) in fundamentally strong equities even as the market dives south.

Volume Index for today’s activity is 0.70 while buy volume and sell volume momentum is estimated at 12% and 88% respectively.

 

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Market Update

Nigerian Equities Market Update- 18th November, 2016

Rounding off the week with the bear, the performance index of The Nigerian Stock Exchange gave up another 24Bpts to close the week at 25,537.54. Thus, a total of 242Bpts were lost during the week, while lost points in November is 618Bpts. Nse Premium and Nse Insurance added 5BPts and 78Bpts respectively and other observed market indices closed red. See the index movement table for details.

Value lost by the market capitalization of the listed equities during Friday’s trading activities is N21,429 billion same as 24Bpts from the opening value. Meanwhile, today’s trading activities produced 6 advancers and 33 lagers. NSEASI YtD return is negative -10.84% while the Market Capitalization YtD loss stood at             -N1.059 trillion.

The share price of Nigerian Breweries was adjusted on Thursday for the N1.00 interim dividend recently announced. Payment date is 24th November, 2016.

Leading the gainers log for the week is May&Baker that added 12.94% to close at N0.96 from N0.85. Access Bank followed with 3.77% gain while Dangote Sugar Union Bank and Consolidated Reinsurance followed with 3.68%, 3.37% and 2.97% respectively. On the other hand, the lagers log was topped by Forte Oil with 20.89% followed by Transcorp that shed 18.6%. Flour Mills, Paint&Coatings and Wema Bank completed the top 5 losers with 14.38%, 13.10% and 12.70%.

No support has been identified with the lead performance index NSEASI at the moment, and we have not seen any reversal signal. Nevertheless, we recommend that traders consider positions (in tranches) in fundamentally strong equities even as the market dives south.

Volume Index for today’s activity is 0.70 while buy volume and sell volume momentum is estimated at 12% and 88% respectively.

 

Comment here