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MARKET SUMMARY/PRICE LIST 05/03/2020

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Stocks Close Relatively Flat by 0.04%

The equities market closed relatively flat, as the All Share Index improved slightly by 0.04% to close at 26,426.20 points. Thus, the YTD performance improved to 0.80%.

Activity levels closed strong compared to the previous trading session, as total volume and value increased by 40.36% and 178.93% to close at 431.91million units and N7.82billion respectively.

Sector performance closed bullish as three out of the six major sub-indices closed positive, with the exception of the Oil and Gas sector, which closed flat. The Banking sector closed up by 1.08%, spurred by appreciation in UBA, ZENITHBANK, FBNH and GUARANTY. Gains in BUACEMENT and WAPCO propelled the Industrial sector by 0.25%, followed by the NSE 30, improving by 0.15%, on the back of gains in the aforementioned banking and industrial stocks. The consumer goods led the losers by 2.62%, fueled by decline in NESTLE, trailed by the Insurance sector, which declined by 0.90%.

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Price List/Market Summary 30/7/2019

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Equities Market Takes a Negative Turn, Sheds 0.46%
Today’s review of the NSE trading session; the All Share Index (ASI) depreciated by (-0.46%), reversing the previous session gain to close at 27,820.57 points, while YTD performance worsened to (-11.49%).

Market turnover closed positive, as volume recovered, appreciating 66.70% to 155.2 million, from 93.1 million in the previous session. Accordingly, value traded increased markedly by 102.37%, attributable to a surge in activity in Guaranty Trust Bank, which constituted 28% of total trade value for the day.

We noticed a major sell-off in high cap stock like Nigeria Breweries Plc, which resulted in the consumer goods sector’s position as worst performer declining by 2.07%, trailed by the NSE 30 and Financial Service Institution, which lost 0.89% and 0.72% respectively. The industrial and insurance sector gained for the day, advancing 0.57% and 0.02% respectively.

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Lafarge Africa Q2 2019: Cost Improvement Fuels Upbeat Earnings

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In the second quarter of 2019, revenue from Lafarge Africa declined marginally to N81.8 billion – a 0.2% decreased from the previous year – resulting from the 2.1% drop in revenues reported from its South African business which offset the 1% increase recorded in Nigeria. Meanwhile, efficient energy mix and production optimization bolstered gross margin which was 1.9% higher YoY.

Moving down, the out-turn of cost efficiency measures undertaken by management was evidenced by the 26% shrinkage in operating cost, materializing to N13.962 billion profit from operations for the second quarter – up 38.5% from the prior year.

Following the recent balance sheet and leverage improvement focus, finance cost – which previously hobbled earnings – were lower 60.8% over the year, and 34.5% below the first quarter. Overall, the result shows an impressive performance with improved margins and profit after tax of N5.86 billion from the N1.9 billion loss reported in 2018.

As announced earlier, the company would be divesting its interest in the ailing South African business, of whose proceeds would significantly reduce the cement manufacturer’s leverage. That said, the company would focus primarily on its Nigerian business, with management guidance of new product introduction, enhanced operational efficiency and improved energy utilization with the introduction of cheaper alternative fuel sources.

As with the cement industry, we expect lower volume sales in the third quarter owing to heavy downpour, hence reduced revenue. However, we are confident in the management’s cost-efficiency measures expected to come circle full going forward, and support further margin expansion.

Upon the release of the result, renewed buying interest fueled a 10% price surge, after which there was a brief pullback to close today at N14.15. The stock is currently up 13.7% YtD.

First Take: Flourmills Q1 2020 Earnings – Debt Restructuring Prompts Earnings Growth

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From its four business segments, Flourmills of Nigeria Plc generated revenue of N134.7 billion, a paltry growth of 1.3% over the previous year comparable period. Breaking down the individual performance of each business, the Agro-Allied business grew by 3.8% fueled by growing demand for Premier Feeds, while the 20% strong growth in the sugar business was owed to increase in global sugar prices. Sales from its food business, its largest business declined 2.6%, a reflection of the unabating pressure on the consumer’s purse. Within the segment, flour volumes grew, albeit in the lower-priced products as consumers adjusted preference in line with economic reality, while pasta sale experienced strong growth, attributable to new products introduced in the Northern market. Ball foods were relatively flat in the quarter.

Accordingly, in line with revenue growth, production costs increased, but at a faster pace, on the back of higher commodity price in sugar and wheat, out-turn of which gross profit reduced to N16.5 billion, a -4.6% decrease over last year. Thankfully, management achieved constrained operational expenses in the period, keeping administrative and selling costs flat, resulting in the reported 11.7% drop in operating income to N9.89 billion.  

In a different turn of events, the company profit before tax rose 5.5% to 5.5 billion, salvaged by the 26.6% drop in finance cost – a knock-on-effect of previous year debt restructuring. In total, profit earned in the period grew 16.5% to 4.2 billion naira.

Though consumer goods businesses remain smothered by a litany of woes, in our view, increased consumer demand from the holiday festivities, and sustained growth in pasta sales would support higher food segment revenue next quarter, while expansion in the agro-allied segment is poised to persist. On the cost side, Flourmills stands to benefit from lower input cost, should our lower wheat price forecasts materialize. Improving logistic dynamics in the Apapa Ports also plays well for the company.

The stock price gained 6.7% upon receiving the result and now trades at N14.90 at the time of report writing.
 

Lead Market Wrap – Week Ended 26 July

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The Nigerian Stock Exchange finished the week trading flat; recording losses in four of the five trading sessions. Tuesday witnessed a strong uptick with the market advancing by 1.26%, leaping the ASI over 28,000 points, spurred by strong gains in Dangcem and Nestle. However, a sharp retraction returned the broad index below the psychological threshold. Consequently, the All-Share Index (ASI) closed unchanged at 27,918.59 points, while YTD performance stands at -11.2%.

The week was replete with earnings releases across listed stocks, which also influenced trading patterns, although insufficient in driving trading activity which remained lukewarm, as value traded for the week printed at N11.4 billion, 15% below the previous week.

TOP STORIES DURING THE WEEK

THE MONETARY POLICY COMMITTEE (MPC)
The Monetary Policy Committee (MPC) meeting held on 23rd and 24th of July, 2019, decided to leave the monetary policy rate as well as all other monetary policy variables unchanged; Monetary Policy Rate (MPR) at 13.5%, Cash Reserve Ratio (CRR) at 22.5%; and Asymmetric corridor at +200bps and -500bps around the Monetary Policy Rate, while the liquidity ratio remains at 30%.

The Bank’s decision was prompted mainly by the persistent price pressures. Although inflation moderated to 11.22% in June from 11.4% in May, the committee expressed its intention to monitor the effect of the previous rate cut in the economy.

PRESIDENCY RELEASE MINISTERIAL LIST
Nigeria’s President, President Muhammad Buhari, submitted the much-awaited list of cabinet nominees to the Senate for his second term, 40 days after the swearing-in. The list comprises 43 nominees coming from across all 36 states and Federal Capital Territory.

Despite high anticipation from investors and market participants seeking clarity on fiscal and executive policy direction for the new tenure, the news had a muted impact on market activity.

MARKET EXPECTATION / STOCKS TO WATCH

In compliance with the Exchange’s regulation regarding quarterly earnings filling, we expect a flurry of earnings in the week ahead, just as seen in the tail end of the previous week. Particular to our interest are earnings from the banking companies and Dangote Cement. We envisage market activity to be largely driven by earnings, as investors digest and revalue their positions.

ZENITH BANK: Despite sustained sell-off, we still consider the lender a strong BUY. We expect interim dividend payment to fuel some buying interest.

LAFARGE AFRICA: The cement manufacturer is potent with high capital appreciation in the long term, supported by its recently released Q2 2019, which paints a more vivid picture of its recovery from headwinds experienced in previous years.

ACCESS BANK: Upon consolidation with Diamond Bank, the expected Q2 2019 financials stand to reveal the reality of the merger, hence pervasive anticipation. Although the stock trades at a marked discount to peers, informing a BUY recommendation, we emphasize cautious optimism, factoring possible earning shock.

EARNINGS

OANDO H1’19: Revenue: N315.9bn vs N297.3bn (+6.1%); Profit After Tax: N7.2bn Vs N8.5 (-15.6%)

TOTAL H1’19: Revenue: N150.8bn Vs N156.3bn (-3.5%); Profit After Tax: N0.20bn Vs N8.6bn (-98%)

OKOMU H1’19: Revenue: N8.6bn Vs N12.9bn (+33.8%); Profit After Tax: N2.52bn Vs N5.9bn (-57.4%)

LAFARGE H1’19: Revenue: N160.3bn Vs N162.3bn (-1.2%); Profit After Tax: N9.3bn Vs -N6.3bn

CCNN H1’19: Revenue: N32.1bn Vs N12.1bn (+166%); Profit After Tax: N7.3bn Vs N2.6 (+179%)

UNILEVER H1’19: Revenue: N42.7bn Vs N48.1bn (-11.2%); Profit After Tax: N3.5bn Vs N5.7bn (-38.6%)

MTNN H1’19: Revenue: N566.9bn Vs N505.7bn (+12.1%); Profit After Tax: N98.9bn Vs N73.4bn (+34.8%). Interim Dividend: N2.95 – Closure of Register: 9 – 12 Aug 2019; Payment Date: 16 Aug 2019.

MOBIL H1’19: Revenue: N92.8bn Vs N85.9bn (+8.0%); Profit After Tax: N4.2bn Vs N5.4 (+23.4%)

FLOUR MILLS Q1’20: Revenue: N134.7bn Vs N133.0bn (+1.3%); Profit After Tax: N4.2bn Vs N3.6 (-16.7%)

FLOUR MILLSFY’19: Dividend: N1.20 per share; Closure of Register: 15 – 21 August 2019, Payment Date: 6 September 2019

AIRTELAFRI Q1’20: Revenue: $795.9mn Vs $744.5mn (+10.2%); Profit After Tax: $132.mn Vs $150.6mn (-12.2%)

NESTLE H1’19: Revenue: N70.9bn Vs N67.8bn (+4.5%); Profit After Tax: N13.4bn Vs N12.9bn (+3.9%)

FCMB H1’19: Gross Earnings: N89.8bn Vs N83.9bn (+7.0%); Interest Income: N70.4bn Vs N64.3bn (+9.4%); Non-Interest Income: N19.4bn Vs 19.61bn (-1.0%); Profit After Tax: N7.53bn Vs N5.73bn (+31.4%)

Important tips on how to profit in a bearish market

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Do you want to achieve financial freedom? If yes, then you need to know how to make wise investment decisions in both bull and bear markets.

These terms are usually used when discussing the stock market. But they also apply to other tradable assets, such as currencies, commodities, real estate, and bonds. They describe the general conditions of a market and the sentiments, actions and attitudes of investors.
Bull and bear markets tally with the four phases of an economic cycle: expansion, peak, contraction and trough.

Bull versus Bear markets

A bull market is characterised by aggressive economic growth, rising stock prices, and high investor confidence. An upward market trend reflects the way a bull thrusts its horns up into the air when it attacks an opponent.

Also, a bull can be seen as an investor who is optimistic that an industry is poised to witness growth. He attempts to make a profit by purchasing securities and selling them as prices rise higher.

Bear market, on the other hand, is the direct opposite of bull market. There’s a decline in market prices and many investors try to sell off their securities before it depreciates any further. It often implies economic downturn, inflation, and rising unemployment figures. The name is derived from the way a bear swipes its paw downward at an opponent.

A bear is an investor who believes that the market is going to adopt a downward trend and attempts to profit from it with various techniques, such as short selling.

How to make the most of your investments in a Bear market

Typically, most investors buy securities when prices are rising, and sell before it comes crashing down. But the problem is you may not be able to correctly predict when there could likely be a change in market trends, especially as speculation and psychology play a large role in it. So the big question is: what can you do to avoid losing money?

Most successful investors go along with Rule #1 investing, which Warren Buffet has been known to apply in his dealings. Rule #1 investors act contrary to the public, i.e. they buy in a bearish market, when there is a lot of fear and pessimism, and sell in a bullish market when people are rushing to buy.

The reason this strategy works is you spend less on a purchase, since prices are at an all-time low, and make a lot of profit when they begin to rise. You may ask “what if prices continue to fall?” in that case you can purchase more equity and earn even more profit when the value starts soaring.

To apply this strategy correctly, be sure you follow these tips:

  1. Diversify your investment: You wouldn’t want to put all your eggs in one basket. Don’t invest too much on a single stock. The best idea is to invest in various big brands known to survive hard economic times. In the case of real estate, you spread you investment across several low cost assets.
  2. Invest in small proportions, don’t buy all at once: Stage your buys and work your orders to get the best price over time. You want to be able to maximise your profit and reduce your losses by investing in small portions. It is not advisable to buy or sell all at once.
  3. Do in-depth research: Conduct proper research on all aspects of a company before you buy stock. Buy those that can never be out of demand.
  4. Stay flexible: Businesses are dynamic, which means that you have to plan for and recognize unexpected shifts in the market.

Conclusion

As a smart investor, you want to take advantage of both Bull and Bear markets. This can be done by finding quality stocks at low prices in bear markets, and selling them when they’ve regained value in bull markets. This strategy is long term and requires you make the right purchase decisions and most of all, that you are able to control your emotions.

Difference Between Fixed Deposit and Treasury Bills

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Treasury Bills

Treasury Bills on the other hand is also a short term financial investment but sold by the Central Bank of Nigeria. An investor in treasury bills lends money to the CBN for a stipulated period in exchange for interest. Treasury bills are usually for a period of 91days, 182 days and 364 days. Treasury Bills have the following Characteristics

  • Treasury Bills are sold bi-weekly or as determined by the CBN
  • The CBN puts a limit to the amount of treasury bills it wishes to sell
  • The CBN uses the funds from Treasury Bills to control money supply in the economy
  • Interest rates for treasury bills are determined by an auction and can vary from investor to investor, amount to amount and tenor to tenor
  • Interest on treasury bills are paid upfront
  • The CBN pays an investor in treasury bills upon maturity and does not roll-over
  • Treasury Bills can only be bought or resold at the Over The Counter Market (OTC)
  • An investor who can’t wait till maturity to cash out on the treasury bill can sell his investment at the OTC market
  • Treasury Bills are tax free
  • Treasury Bills  is not secured by any asset but are backed by the full faith and credit of the Nigerian Government
  • Treasury bills can be used as a collateral and is accepted by all banks

Why your “house” is not an investment

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An investment can be seen as money spent on capital goods and services which in turn yields profit over time. A house is a physical structure that is usually built for the purpose of providing comfort and shelter. In Nigeria, getting a house built is a herculean task that could take years to complete. Some, who are not that lucky, end up abandoning the building project. This may sound strange, but it is a fact that a housing property is not an investment. On the surface, it may seem to be one, but under close scrutiny, one will discover that it is not.

Let’s look at the various reasons for this fact.

Depreciation

A building loses value with time; this is known as depreciation. Same cannot be said for the land on which it is built. The depreciation is a result of the effects of age (wear and tear) on the structure. For example, a house built in the 80s can no longer retain the same value it had during construction.

Remember, there is what we call time value of money. If you built the house with the sum of N1.2 million then, that same house may be valued at say N4million now, but considering the value of money then, it should have been much higher.

What it means is that the house has depreciated in value due to the passage of time. The value of the naira has depreciated by more than 150% over the years. Moreover, if you sell your old house today, your selling point is the plot on which the house is built and not the actual building itself.

Income generation

If you live in your own house presently, it will at best help you conserve some money due to the fact that you won’t be paying rent anymore. Though the cost of acquiring a house has comparative advantage over payment of rent, it does not mean that the house is a source of income generation.

The truth is: it will take quite a couple of years for the total sum of money used in building a house to be recouped, and that by that time, the house must have depreciated in value. Considering that most of the rent collected in the house is used in maintenance and servicing loans acquired for building it, the house will not be termed as an income generator.

Input Recovery is Impossible

Unless you wish to sell off your house within a 10 year window, you will not be able to recover your input as long as you are the one living in it. This can be attributed to two major factors:

  • Depreciation of structure
  • Fall in the purchasing power of the currency (especially in Nigeria)

If you consider the twin issues of depreciating structure and fall in purchasing power of the naira, it will be very evident that houses built for self-purpose rather than for rent or business cannot be said to be an investment platform. They are simply for comfort or pleasure rather than a means of creating wealth over time.

One must not confuse investment and asset at this point in time. The land, on which the structure is built, is an asset, which appreciates over time, while the building can also be regarded as an asset, because it can be used in accessing loan facilities. Unfortunately, when it comes to the issue of investments, a house you built for the sole purpose of accommodating your family cannot be regarded as an investment.

Since the structure is not on rent, you will not recover the money you have used in building the house. Such money is classified under consumption and not investment. It is only in real estate, that money spent in erecting a structure is classified as an investment or input. The money spent in building industrial structures like banking houses, store houses, warehouses, hospitals and restaurants can be classified under capital investment, because when they begin operations, they are able to recover the total costs of erecting such structures.

There is a whole lot of difference between these 2 types of structures – one is for personal use, while the other is for business purposes. The former is not an investment, while the latter is an investment that usually yields dividend over time depending on the nature of business it is being deployed for.

Impact of location on value of a house

The actual value of a house can be impacted negatively or positively depending on the location and type of land where the house is built upon. A house built on a water logged land that is located in the remote part of a town can never be termed as an investment; this is due to the negative impact such environmental factors will have on the face value of the house.

A house that is built on an erosion-prone area also has similar drawbacks and it is difficult to place such houses under the categories of investment portfolio. So many houses built in erosion-prone and flood-prone areas have been abandoned due to the deteriorating states of the houses which have become a hazard in itself and the safety of such individuals can no longer be guaranteed.

There have been numerous cases of houses that collapsed due to the negative impact of the land on which such houses were built and the location of such houses. In such cases, the houses cannot be termed as investments due to losses incurred.

Investment options for salary earners

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Recently, one of the readers of my articles asked to know what investment options are open to salary earners. A salaried individual is like everyone else except that he or she has a fixed monthly income. This implies that their investments and expenses have to be managed strictly according to their fixed monthly income.

Since salary is assumed to be the only source of income for the salaried, it is advisable that such an individual fortify himself financially before investing so that adverse investment performance will not have untold effect on him and his family. Therefore, if you are a salaried prospective investor, you need to:

Get life insurance

Most families in Nigeria are single income families so much such that if anything bad happens to the income earner, the family gets shattered, at least financially. Again, given the risks inherent in capital market investments, it is only prudent to have a life insurance as a first step in one’s investment journey. It is very baffling to see many investors very deep into the market, yet they do not have life insurance.

Life insurance is and should be a basic part of any financial plan. Life insurance is a protection for loved ones against financial hardship arising from the death of a breadwinner. This is even more important today than ever before with high cost of funeral expenses, college education and medical bills. So, the first investment option for a salaried individual is to get a life insurance.

Prepare for financial emergencies

Life is full of surprises, emergencies do happen, jobs are lost without notices, and even good investment opportunities emerge sometimes suddenly. There is, therefore, the need for a cash reserve to help weather the financial storms and emergencies when they come calling.

Cash reserves do not only provide for emergencies, they also help to ensure that investments are not liquidated prematurely or at inopportune times to cover unexpected expenses. There are no hard and fast rules on what the exact amount of the required cash reserve should be, but most financial experts and planners will advise that an amount that equals about six months of living expenses be set aside.

So, as a salaried person, your next investment should be to have a cash reserve. A cash reserve should not necessarily be in a savings account or under the mattress; it could be in an interest-bearing money market account, money market mutual funds with low to zero luck-up period or another form of very liquid investment that is readily convertible to cash without loss of value.

Know your risk appetite

As a salaried and fixed income individual, your risk appetite is most likely going to be low as well as your risk tolerance, although your extended family profile could change all that. You need to know or understand your risk tolerance before you engage in any capital market investment.

Your risk tolerance will and should drive the type of investments you go into. Your risk tolerance depends on your psychological makeup, your current insurance coverage, presence or absence of cash reserve, family situation, and your age among others.

Talking about family situation, it is reasonable to think that a married individual whose children are still in school will be more risk averse than an unmarried person. On the other hand, older people have shorter investment time horizon within which to make up for any losses. the reason for this is because the older you get the less time you have to work to recoup on losses.

In that case the risk tolerance of an older man will be less than those for younger folks. Again, the more cash reserve and insurance coverage you have, the more your propensity to take risk. Now having known your risk tolerance based on the underlying factors, you can then define your investment objectives

Set your Investment objectives/goals

Having met those essentials above, you are now ready for a serious investment plan or program. A good investment plan starts with investment objectives. Investment objectives are the force that determines what you invest in. Investment objectives range from capital preservation, to capital appreciation and constant income generation.

Capital preservation as an investment objective implies that you, the investor, aim at minimising the risk of loss by maintaining the purchasing power of your investment. So, if you are risk averse or you will need money from your investment soon for children’s education or for building a house or you are nearing retirement, this should be your objective.

Investors whose aims are to see their investment portfolios increase in real terms over a period of time are better suited for capital appreciation as an objective. This is better for investors that are more risk tolerant and those with more potential to recoup on losses along the way.

If you are already retired or nearing retirement, and therefore depend on your retirement plan supplemented by investment income, you need an investment that generates income rather than capital gains. In that case, your investment objective should be current income generation. It is always good to have investment goals stated in terms of risk and returns.

Decide on asset allocation

Armed with the knowledge of your risk appetite and investment objective, you are now ready to decide on what to invest in, and how much to invest in any asset class. This takes you to asset allocation decisions. Asset allocation involves dividing an investment portfolio among different asset classes based on an investor’s financial requirements, investment objectives and risk tolerance.

A right mix of asset classes in a portfolio provides an investor with the highest probability of meeting his/her investment objectives. Asset allocation is the most important investment decision an investor can make in a portfolio because it demonstrates an investor’s understanding of his or her risk preferences and return expectations.

It is good to strive for a diversified portfolio. Unfortunately, the Nigerian market does not provide a lot of asset classes for optimal diversification, but diversification can be achieved across sectors or industries within the few asset classes in the Nigerian stock market.

Decide on how to invest

There are different ways to invest in the capital market. You can invest directly by making the stock selections by yourself, thanks to the online stock trading platforms that abound the world over. This implies that you have what it takes to conduct the required research and analysis of the companies whose shares or stocks you wish to buy.

It also implies that you have what it takes to know when to sell or add to existing positions. Another method is to have someone “do the heavy lifting” for you. In this case, that someone, often times called fund manager or portfolio manager, does the research and analysis and selects shares that suit your investment preferences, investment objectives, risk tolerance and appetite as well as your investment time horizon.

This route is most suitable for investors that lack the knowledge and time for the required research and analysis. If you decide to go this route, mutual funds are the best bet for you.

Why you should really consider mutual funds

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A Mutual Fund is a Trust or Company that pools money from many investors and invests in a specified class of securities such as stocks, bonds, real estate or a balanced mix of asset classes.

The Mutual Fund is managed by a professional management company who formulates and implements investment management services to the Mutual Fund on behalf of the investors to the Mutual Fund. That’s the theory part done.

Why mutual funds? Because of diversification. Want to buy a good share, which will you buy? Nestle has great brands, Zenith makes great profits. A mutual fund allows you own Zenith and Nestle at the same time with one investment.

A mutual fund also allows you handover your Nestle and Zenith shares to a professional fund manager to look after on your behalf, collect dividends and attend Annual General Meetings on your behalf. Mutual funds are “outsourced” investing.

My favorite Mutual Funds are index funds. Index funds are set up to track (and buy an index) So instead of buying just Zenith and Nestle, you buy the whole Nigerian Stock Exchange, with just one investment Why? Again diversification

Diversification? Spreading your bets: If Nestle and Zenith both fall in price, you still own Dangote Cement and Presco… So you are buying and owning lots of shares when you buy a mutual fund but also an index fund. Any other reason? yes.

Cost: When you buy shares your broker charges you a brokerage fee plus Nigerian Stock Exchange fees. So if you buy individual stocks, you pay fees per individual trade… However, buying a mutual fund or index means you are “averaging” your costs

So the question is not really ” Which Mutual Fund do you want to buy?” but “What is your investment objective, risk profile, and duration of the investment?”. Answering that question tells where you should invest.

Never borrow to meet your wards educational fees

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Budget

It is of high importance to having a family budget prepared on a Monthly basis. Budgets if nothing, gives you an insight into your household income and the likely expenses that will match it. Every single naira that you earn must have a mission. Without budgets it is easy to think that you have the money only to find out later that you have to borrow to augment.

Cut your coat to your cloth

If your Children school fees per term is more than 50% of your monthly take home pay, then you have basically set the stage for hardship and borrowing. For example, a family that earns a combined N500, 000 per month will need to save N75, 000 every month to pay for a N225,000 per term school fees per term. Anything above this is a recipe for incessant borrowing.

Not for everyone

Nearly every average working class family will like to have their children attend the best schools in the world. Harvard or Princeton for example, cost over $30,000 per annum for tuition taking it out of the reach of most families. This is why there are other options for students who cannot afford to pay for an Ivy League school. Luckily there is no written rule that says students who end up not going to an Ivy League school cannot perform better in their careers. This is so with some of the local schools we have in Nigeria. Rather than whine about not being able to afford a better looking school for your kids efforts should be made at putting them in the next best school that you can afford

Work even harder

Big dreams hardly die so if you still want your ward to go to that big school then you have to work really hard for it. Put in more efforts at your job making sure that it never goes unnoticed. Soon enough, you will be promoted and paid a higher salary. If that doesn’t happen, then seek employment elsewhere that can pay you better.

Seek alternative income

Why not explore other means of augmenting your salary? If you are good at trading then you can have a buy and sell business by the side, which can help fund the school of your dreams for your children. Besides, alternative income helps increase the amount you can throw on school fees when you earn more.

Invest towards the future

Just like above, you can also invest your money in a high yielding mutual fund, bond or many of the quality products in the money and capital markets. For example, buying an FGN Bond that pays 15% per annum in yield and reinvest the interest for about 10 years can turn out to be an extraordinary pay out upon maturity. By leveraging on the power of compounding interest, you can grow that money exponentially helping you pay for a quality school even if its tertiary.

Home School

Home schooling is not yet popular in Nigeria but some parents are actually trying this out. Most working class people are professionals in their own right and by spending extra time at home with their kids they can teach them even more than teachers for whom they pay all those salaries.

Endeavour to always measure the performance of your Investments

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The good thing about investment performance measurement is that it works across asset classes and strategies. It can be used for fixed income securities as much as it can be used for equities or mutual funds.

Asset Valuation

Investment performance measurement begins with the valuation of the assets within a portfolio. But as an investor, investing through a fund manager, the responsibility of valuing the assets within your portfolio shifts to the fund manager. For the “do it yourself” (DIY) investor, the valuation of the asset within your portfolio will derive from the market prices of those assets.

For example, if you have a portfolio that holds 100 shares of Access Bank, 250 shares of Dangote Cement and 50 shares of Nestle, the value of your portfolio will be the sum (sum-product) of the number of shares in each equity multiplied by the price as at the date of the valuation.

What is Return and how is it calculated

The starting point for performance measurement is the calculation of return. Return is the benefit you received from an investment over a period of time. Return or gain is the difference between the current value of your investment and the original investment or the value as at the last calculation period.

                                  Gain or Loss= Current Value-Investment Made

Effects of Cashflows

It is not only the reinvestment of dividends or interests that complicate the calculation of investment performance or rate of return. It even gets further more complex and complicated when you have additional investments or subscriptions and when you partially redeem or sell some of your investments. In investment performance measurement, those activities are called cashflows.

So, the cashflows affect investment performance measurement because you need to account for them, not only due to their numerical effect but also due to their timing effect. The effect of a redemption done at the beginning of the month differs from the effect of such redemption done in the middle of the month for investment performance measurement purposes.

Difference Between Interim Dividend and Final Dividend

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Companies at the end of a reporting period may choose to declare dividends to its shareholders as part of the distribution of profits that it makes. Dividend is proposed by the board of directors of the company and approved by its shareholders at the AGM.

Dividends can however be paid once or twice a year depending on the policy of the company. When a company decides to pay dividends twice a year it pays an interim dividend at some time before the end of its financial year and then a final dividend at the end of the financial year.

Final dividend

The last dividend distribution at the end of the financial year declared after the financial statements have been audited and approved by the board of directors of the company. However, some companies pay dividend only once in a year. In this case they will not pay an interim dividend. However, if after paying the interim dividend no other dividend was paid then the interim dividend will become the final dividend at the end of the year.

Interim Dividend

This is the dividend declared and distributed by a company to its shareholders prior to the determination of final profit position for the financial year. Before interim dividends are paid, the company’s financial statements will also be audited.

Total Dividends

For a company that pays an interim dividend and then final dividend, the total dividend paid during that year will be the interim dividend plus the final dividend.

For example, a company declares interim dividend of 50kobo after its 6 months results is released and audited. At the end of the financial year, it declares a further N1 in final dividend. Total dividend paid at the end of the year is therefore N1.50 per share.

The Nigerian Stock Exchange continues the week on a bearish note

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The Nigerian Stock Exchange (NSE) ended Tuesday’s trading session in negative territory. The All Share Index closed at 29,395.14 basis points, down 0.74%. Year to date, the index is down 6.48%.

Top Gainers: CCNN Plc was the best performing stock today. The stock gained 8.11% to close at N14. Academy Press Plc also gained 6.90% to close at N0.31. Transnational Corp of Nigeria Plc gained 6.86% to close at N1.09.

Ecobank Transnational Inc gained 3% to close at N10.30. Africa Prudential Plc rounded up the top five gainers for today by gaining 2.29%, closing at N3.57.

Top Losers: UACN Property Development Co Plc was the worst performing stock, declining by 9.68% to close at N1.40. Chams Plc followed with a 9.68% drop to close at N0.28. C&I Leasing Plc fell by 9.11% to close at N5.09. Oando Plc fell by 8.75% to close at N3.65. Courteville Business Solutions Plc was the last of the top five losers for the day. The stock shed 8.70% to close at N0.21.

Top Trades by Volume: Guaranty Trust Bank Plc (GTBank) was the most actively traded stock today. 24,429,808 shares valued at N742,149,806.95 were traded in 345 deals. United Bank for Africa Plc (UBA) was next with 23,347,793 shares valued at N144,919,521.35 traded in 227 deals.

Lafarge Africa Plc was traded 22,732,648 shares valued at N284,163,936.35 traded in 124 deals, followed by Zenith Bank Plc was next with 22,339,462 shares valued at N436,876,613.65 traded in 376 deals.

FBN Holdings Plc was the last of the top five most actively traded stocks today with 18,517,547 shares valued at N120,300,451.75 traded in 216 deals.

Corporate Actions: Golden Guinea Breweries Plc released its financial result for the year ended 31st March 2019.

International Breweries Plc filed its unaudited financial statements for the Q1 period ended 31 March 2019. The company explained that the delay in the filing was as a result of the follow-up activities to the merger which was concluded in December 2017 and the accompanied general integration processes, including the appointment of a new External Auditor in compliance with the Securities and Exchange Commission’s Code of Corporate Governance for Public Companies, 2011 “SEC Code” regarding the 10-year tenure for External Auditors.

It also released unaudited condensed interim financial statements for the three months ended March 31, 2019.

E-Tranzact International Plc notified the public that the meeting of its Board of Directors will on the 24th of July 2019, at eTranzact International PLC’s Corporate Office, 27/29, Adeyemo Alakija Street, Victoria Island, Lagos at 10.00 am.

The purpose of the meeting is to consider the Company’s Financial Statements for the Half year ended.

The Nigerian Aviation Handling Company Plc also notified the public of its 38th Annual General Meeting (AGM), which will be held at Bristol Palace Hotel Kano, No 1 Ali Rano Link, Farm Center Kano state, on Friday 26th July 2019 at 11.00a.m.

Learn Africa Plc has also announced a final dividend of 15 kobo per ordinary share of 50 kobo each for the 15 months financial period that ended March 31, 2019.

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Fintech Association Partners SEC On RoadMap For The Nigerian Capital Market

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The Securities and Exchange Commission (SEC) and the Fintech Association of Nigeria has announced partnership aimed at transforming the Nigerian capital market with financial technology solutions.

 The Fintech Association of Nigeria is an umbrella body that brings together the various organisations in the financial technology space in Nigeria. Its goal is to be a forum for the exchange of ideas and dissemination of information by and between various stakeholders in the Nigerian financial services industry.

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Market Took A Breather… NSE ASI Up 0.19%

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Market Took A Breather… NSE ASI Up 0.19%

After three consecutive days of bearish performance, the Nigerian bourse closed today’s session positive following renewed rally in the Banking, Consumer Goods and Insurance sector. Market activity today was largely dictated by bargain hunting in NESTLE (3.46%), UNILEVER (4.76%), GLAXOSMITH (1.90%), GUARANTY (0.96%) and DANGSUGAR (1.25%). Consequently, the NSE ASI (169bps) settled at 35,464.34 and the market capitalization gained N23.03 billion to close at N12.22 trillion. Activity level was broadly weak as Volume (-67.90%) and Value (-69.74%) traded decreased to 119.89 million units and N1.74 billion respectively.

Sector Performance Was Mixed

Sector performance at the close of trading was broadly bullish as 3 sectors closed positive and 2 recorded losses. The Consumer Goods index (1.14%) led the gainers on the back of gains in NESTLE (3.46%), UNILEVER (4.76%) and DANGSUGAR (1.25%). Trailed by the Insurance index (0.46%) as bargain hunting resurfaced in NEM (4.76%), AIICO (3.64%) and CONTINSURE (1.45%). While the Banking index (0.22%) appreciated due renewed interest in GUARANTY (0.96%) and ACCESS (0.62%). On the flip side, bears resurfaced in the Oil & Gas index (-0.88%) due to profit taking in FO (-1.63%) and OANDO (-4.89%). In the same vein, the Industrial Goods index (-0.39%) maintained bearish trend for the fourth consecutive trading day as investors took profit in WAPCO (-0.92%) and CCNN (-1.69%).

Investor’s Sentiment Remains Negative

Investor’s sentiment remains negative as the market breadth (A-D Ratio) settled at 0.8x (vs. 0.6x previously), following price gains in 16 stocks against losses recorded in 21 stocks. UNILEVER (4.76%), NEM (4.76%) and CILEASING (4.55%) were top gainers, while PRESCO (-4.99%), OANDO (-4.89%) and ETERNA (-4.74%) were top losers.

Nigerian Equities Market Sustains Bearish Trend… NSE ASI Down 0.81%

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Nigerian Equities Market Sustains Bearish Trend… NSE ASI Down 0.81%

The Nigerian bourse dipped further due to profit taking in NESTLE (-0.82%), DANGCEM (-2.33%), OKOMUOIL (-4.92%) FLOURMILL (-3.33%) and GUARANTY (-1.92%). Consequently, the NSE ASI contracted by 81bps to settle at 35,664.94 and the market capitalization decreased by N100.75 billion to settle at N12.29 trillion. Activity level was broadly weak as Volume (-24.76%) and Value (-29.51%) traded decreased to 114.72 million units and N2.17 billion respectively.

The Oil and Gas Sector Closed Lone Gainer

The sector performance was broadly bearish as all but one sector closed negative. The Industrial Goods index (-1.01%) led the losers as bearish trend persisted in DANGCEM (-2.33%) and BERGER (-4.11%). Trailed by the Banking index (-0.40%), stemming from declining sentiment in GUARANTY (-1.92%), UBN (-0.33%) and FIDELITYBK (-1.49%). In the same vein, the Consumer Goods index (-0.37%) reversed bullish position due to profit taking in NESTLE (-0.82%), FLOURMILL (-3.33%) and GUINNESS (-0.55%). While the Insurance index (-0.13%) followed suit on the backdrop of price decline solely in WAPIC (-1.96%). On the flip side, the Oil & Gas index (0.68%) closed as a lone gainer due to bargain hunting in TOTAL (0.87%), FO (0.58%) and OANDO (3.69%).

Investor’s Sentiment Remains Negative

Investor’s sentiment remains negative as the market breadth (A-D Ratio) settled at 0.9x (vs. 0.8x previously), following price gains in 21 stocks against losses recorded in 23 stocks. AIRSERVICE (4.87%), TRANSCORP (4.76%) and UCAP (4.75%) were top gainers, while OKOMUOIL (-4.92%), LIVESTOCK (-4.49%) and JAIZBANK (-4.23%) were top losers.

Nigerian Equities Market Sustains Bearish Trend… NSE ASI Down 2.25%

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Nigerian Equities Market Sustains Bearish Trend… NSE ASI Down 2.25%

The Nigerian bourse dipped further due to profit taking in DANGCEM (-4.26%), NB (-1.55%), WAPCO (-4.75%), FO (-4.63%) and STANBIC (-5.00%). Consequently, the NSE ASI contracted by 225bps to settle at 37,096.60 and the market capitalization decreased by N294.47 billion to settle at N12.79 trillion. Activity level was broadly strong as Volume (23.89%) and Value (28.69%) traded increased to 391.62 million units and N5.44 billion respectively.

All Sectors Closed Negative

All sector indices closed negative as the Industrial Goods index (-4.15%) led the losers as bearish trend persisted in DANGCEM (-4.26%), WAPCO (-4.75%) and CCNN (-4.96%). Trailed by the Banking index (-1.25%), stemming from declining sentiment in GUARANTY (-1.47%),  ZENITHBANK (-1.02%) and STANBIC (-5.00%). In the same vein, the Consumer Goods index (-1.02%) reversed bullish state due to profit taking in NB (-1.55%), PZ (-5.00%) and NASCON (-4.96%), While the Insurance index (-0.95%) and the Oil & Gas index (-0.39%) followed suit on the backdrop of price decline in MANSARD (-4.65%), NEM (-4.76%) and FO (-4.63%), OANDO (-1.37%) respectively.

Investor’s Sentiment Remains Negative

Investor’s sentiment remains negative as the market breadth (A-D Ratio) settled at 0.3x (vs. 0.7x previously), following price gains in 11 stocks against losses recorded in 35 stocks. GLAXOSMITH (5.00%), BERGER (5.00%) and GOLDBREW (4.00%) were top gainers, while MORISON (-8.16%), STANBIC (-5.00%) and PZ (-5.00%) were top losers.

The Market Starts The Week Bearish…NSE ASI Down 0.65%

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The Market Starts The Week Bearish…NSE ASI Down 0.65%

The Nigerian equities market starts the week bearish, due to profit taking in TOTAL (-5.00%), DANGCEM (-2.08%), GUINNESS (-1.64%), FLOURMILL (-4.83%) and CAP (-1.69%). Consequently, the NSE ASI dipped by 65bps to settle at 37,950.96 and the market capitalization decreased by N85.35 billion to N13.08 trillion. Activity level improved as both Volume traded and Value traded went down by 10.61% and 32.96% to 316.11 million to N4.22 billion respectively.

The Consumer Goods Sector Closed As Lone Gainer

Sectoral performance was bearish as most indices closed negative save for the Consumer Goods index (0.25%) which remained bullish for the tenth trading day in a row due to bargain hunting in NB (1.05%), DANGFLOUR (3.29%) and UNILEVER (0.55%). On the flip side, the Industrial Goods index (-1.08%) declined the most due to profit taking in DANGCEM (-2.08%), CCNN (-0.28%) and CAP (-1.69%). In the same vein, the Insurance index (-0.42%) waned on the back of loses in NEM (-4.55%), WAPIC (-3.85%) and AIICO (-3.51%). Followed by the Oil & Gas index (-0.34%) and the Banking index (-0.28%) following sell-off in TOTAL (-5.00%), OANDO (-3.69%) and UBA (-2.83%), ZENITHBANK (-1.05%), GUARANTY (-0.25%), respectively.

Investor’s Sentiment Remains Negative

Investor’s sentiment remains negative as the market breadth (A-D Ratio) settles at 0.7x (vs. 0.6x previously), following price gains in 18 stocks against losses recorded in 27 stocks. FIDSON (4.68%), AGLEVENT (4.35%) and LINKASSURE (4.00%) were top gainers, while CILEASING (-9.26%), TOTAL (-5.00%) and MEDVIEWAIR (-5.00%) were top losers.

The Market Continues Its Bullish Trend…NSE ASI Up 0.78%

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The Market Continues Its Bullish Trend…NSE ASI Up 0.78%

The Nigerian bourse ends the week bullish, continuing uptrend for the fourth consecutive trading session as bargain hunting persists in NB (1.89%), FO (4.99%), DANGCEM (0.83%), JBERGER (5.23%) and 7UP (1.94%). Consequently, the NSE ASI improved by 78bps to settle at 37,425.15 and the market capitalization gained N99.92 billion to settle at N12.90 trillion. Activity level was broadly positive as Volume (84.66%) and Value traded (37.33%) increased to 515.48 million units and N6.30 billion respectively.

Banking Sector Emerges Lone Loser

Sectoral performance was mostly bullish with 4 closing positive and 1 closing negative. The Consumer Goods index (1.41%) led the gainers list due to continued bargain hunting in NB (1.89%), 7UP (1.94%) and UNILEVER (2.50%). Followed by the Industrial Goods index (1.08%) which continues to surge for the fourth consecutive session driven by gains in DANGCEM (0.83%), WAPCO (1.72%) and CCNN (10.07%). In the same vein, the Insurance index (0.76%) and the Oil & Gas index (0.48%) appreciated due to investors’ interest in NEM (4.65%), CONTINSURE (2.96%), LINKASSURE (4.17%) and FO (4.99%) respectively. On the flip side, the Banking index (-0.04%) ends the week bearish due to profit taking in ZENITHBANK (-0.79%), UBA (-0.91%) and GUARANTY (-0.02%) to close a lone loser.

Investor’s Sentiment Stays Positive

Investor’s sentiment stays positive as the market breadth (A-D Ratio) settles at 3.4x (vs. 1.7x previously), following price gains in 37 stocks against losses recorded in 11 stocks. CCNN (10.07%), LIVESTOCK (9.41%) and DANGSUGAR (6.50%) were top gainers, while BETAGLAS (-4.99%), NEIMETH (-4.76%) and MORISON (-4.24%) were top losers.

Board Bargain Hunting in Large Cap Counters Pulls Market Performance… NSE ASI Up 0.50%

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Board Bargain Hunting in Large Cap Counters Pulls Market Performance… NSE ASI Up 0.50%

The Nigerian bourse close bullish for the second consecutive day as investors resume bargain hunting in large cap counters such as NB (2.54%), GUINNESS (4.99%), WAPCO (5.00%), NESTLE (0.14%) and FLOURMILL (4.29%) and others following the two day bearish trend. Consequently, the NSE ASI (50bps) settles at 36,905.06 and the market capitalization gained N63.57 billion to close at N12.72 trillion. Activity level was broadly weak as Volume traded (-42.10%) decreased to 251.01million units  and Value traded (-43.53%) decreased to N3.78 billion.

The Industrial Goods Sector Leads The Gainers

The sector indices remain broadly bullish with 3 sector indices closing positive and 2 closing negative. The Industrial Goods index  (1.93%) held on to its lead from bargain hunting in WAPCO (5.00%) and CCNN (2.16%). While the Consumer Goods index (1.63%) sustains bullish trend due to price appreciation in NB (2.54%), GUINNESS (4.99%) and FLOURMILL (4.29%). Followed by the Banking index (0.49%) on the backs of gains in ZENITHBANK (1.42%), UBA (0.91%) and WEMABANK (3.70%). On the flip side, the Oil & Gas index (-2.43%) and the Insurance index (-0.49%) closed bearish from profit taking in SEPLAT (-3.67%),  MOBIL (-4.88%), TOTAL (-3.15%) and  CONTINSURE (-4.93%) respectively.

Investor’s Sentiment Stays Positive

Investor’s sentiment stays positive as the market breadth (A-D Ratio) settles at 1.7x (vs. 1.6x previously), following price gains in 31 stocks against losses recorded in 18 stocks. CILEASING (10.00%), WAPCO (5.00%) and GUINNESS (4.99%) were top gainers, while OKOMUOIL (-5.00%), CONTINSURE (-4.93%) and MOBIL(-4.88%) were top losers.

Broad Bargain Hunting In Large Cap Counters Pulls Market Further… NSE ASI Up 0.41%

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Broad Bargain Hunting In Large Cap Counters Pulls Market Further… NSE ASI Up 0.41%

The Nigerian bourse reached nine consecutive trading days of bullish momentum due to bargain hunting in NESTLE (1.77%), BETAGLASS (4.93%), OKOMUOIL (4.34%), UNILEVER (4.98%) and NB (1.10%). Consequently, the NSE ASI (41bps) settled at 33,436.61 and the market capitalization gained N46.59 billion to close at N11.52 trillion. Activity level was mixed as Volume traded (3.60%) increased to 323.54 million units and Value traded (-29.98%) decreased to N1.91 billion.

Mixed Sector Performance

Sector performance was mixed as 2 sectors closed positive out of 5. The Consumer Goods index (1.43%) appreciated further due to bargain hunting in NESTLE (1.77%), UNILEVER (4.98%) and NB (1.10%). In the same vein, the Industrial Goods index (0.39%) remained bullish on the back of gains in BETAGLAS (4.93%), DANGCEM (0.38%) and JBERGER (3.50%). On the flip side, the Insurance index lost 1.70% on account of profit taking in MANSARD (-4.93%), CONTINSURE (-4.55%) and LINKASSURE (-4.92%). While the Oil & Gas index (-0.55%) and the Banking index (-0.32%) maintained downtrend on the backdrop of sell down in FO (-4.20%), OANDO (-9.54%) and ZENITHBANK (-1.91%), ACCESS (-0.82%), GUARANTY (-0.03%) respectively.

Investor’s Sentiment Turns Positive

Investor’s sentiment turned positive as the market breadth (A-D Ratio) settled at 1.3x (vs. 0.9x previously), following price gains in 25 stocks against losses recorded in 19 stocks. HONYFLOUR (8.29%), UBN (5.00%) and JBERGER (4.99%) were top gainers, while MAYBAKER (-5.02%), MANSARD (-4.93%), and CUSTODYINS (-4.76%) were top losers.

Market Opens The Week Bullish… NSE ASI Up 0.12%

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Market Opens The Week Bullish… NSE ASI Up 0.12%

The Nigerian bourse starts the week bullish reaching eight consecutive trading days of uptrend due to bargain hunting in 7UP (6.41%), FO (7.71%), UNILEVER (10.24%), NB (2.18%) and FLOURMILL (5.00%). Consequently, the NSE ASI (12bps) settled at 33,301.43 and the market capitalization gained N13.71 billion to close at N11.48 trillion. Activity level was mixed as Volume traded (3.60%) increased to 322.81 million units and Value traded (-16.40%) decreased to N2.73 billion.

The Consumer Goods Sector Drives The Market

Sector performance was bearish as 2 sectors closed positive out of 5. The Consumer Goods index (1.29%) sustained its positive  momentum following continued interest in 7UP (6.41%), UNILEVER (10.24%) and NB (2.18%). Trailed by the Industrial Goods index (0.03%) which appreciated due to bargain hunting solely in DANGCEM (0.10%). On the flip side, the Insurance index (-0.60%) ended four consecutive days of bullish momentum to lead the losers from profit taking in CONTINSURE (-4.35%) and AIICO (-4.92%).  Followed by the Oil & Gas index (-0.51%) and the Banking index (-0.46%) which continued bearish movement due to sell off in OANDO (-9.54%) and UBA (-2.22%), ACCESS (-1.72%) and UBN (-2.00%) respectively.

Investor’s Sentiment Turned Negative

Investor’s sentiment turned negative as the market breadth (A-D Ratio) settled at 0.9x (vs. 1.8x previously), following price gains in 23 stocks against losses recorded in 26 stocks. UNILEVER (10.24%), FO (7.71%) and 7UP (6.41%) were top gainers, while OANDO (-9.54%), NASCON (-4.95%), and SKYEBANK (-4.62%) were top losers.

Bargain Hunting in the Banking Sector Pulled Market Further… NSE ASI Up 0.50%

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Bargain Hunting in the Banking Sector Pulled Market Further… NSE ASI Up 0.50%

The Nigerian bourse continues the positive trend for the third consecutive day this week, with bargain hunting in the large cap banking counters. The continued positive performance was from bargain hunting in ZENITHBANK (3.45%), ETI (3.87%), ACCESS (4.93%), UBA (4.94%) and FLOURMILL (9.75%). Consequently, the NSE ASI (50bps) settled at 32,620.84 and the market capitalization gained N55.72 billion to close at N11.24 trillion. Activity level was broadly weak as Volume traded (-14.27%) decrease to 182.07 million units and Value traded (-18.06%) decreased to N2.03 billion.

The Industrial Goods Sector Closed Flat.

Sector performance at the close of trading was mixed as 2 sectors closed positive, 2 recorded losses and 1 closed flat. The Banking index (1.97%) pulled market performance as positive trend persists for the third consecutive session due to continued interest in ZENITHBANK (3.45%), ETI (3.87%) and ACCESS (4.93%). Followed by the Oil & Gas index (0.55%) due solely to bargain hunting in OANDO (4.82%). On the flip side, the Insurance index (-0.24%) and the Consumer Goods index (-0.08%)  closed bearish on the backdrop of profit taking in MANSARD (-4.78%) and NB (-0.64%) CADBURY (-4.08%), VITAFOAM (-4.81%). Whilst the Industrial Goods index  closed flat.

Investor’s Sentiment Remains Positive

Investor’s sentiment remains positive as the market breadth (A-D Ratio) settled at 1.7x (vs. 1.6x previously), following price gains in 28 stocks against losses recorded in 17 stocks. FLOURMILL (9.75%), CILEASING (5.00%) and REDSTAREX (5.00%) were top gainers, while UBN (-8.82%), SKYEBANK (-5.00%), and UPL (-5.00%) were top losers.

Market Took A Breather… NSE ASI Up 0.16%

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Market Took A Breather… NSE ASI Up 0.16%

After four consecutive days of bearish performance, the Nigerian bourse closed today’s session positive following renewed rally in the Banking, Insurance and Oil and Gas sector. Market activity today was largely dictated by bargain hunting in SEPLAT (1.08%), 7UP (4.85%), DANGCEM (0.96%), OANDO (4.97%) and ZENITHBANK (0.99%). Consequently, the NSE ASI (16bps) settled at 32,354.78 and the market capitalization gained N18.14 billion to close at N11.18 trillion. Activity level was mixed as Volume traded (-45.88%) decrease to 168.51 million units and Value traded (21.93%) increased to N3.63 billion.

The Consumer Goods Sector Closed a Lone Loser

Sector performance signalled a turn as 4 out of the 5 sectors closed positive after a broadly bearish performance for the most part of the week. After four days of consecutive profit taking, the Oil & Gas index (1.15%) took a breather on the backdrop of bargain hunting in SEPLAT (1.08%) and OANDO (4.97%). Trailed by the Insurance index (0.90%) as gains solely in MANSARD (4.91%) bulked two days of consecutive sell-off. While the Banking index (0.53%) was lifted by price appreciation in ZENITHBANK (0.99%), UBA (1.43%) and ACCESS (1.11%). In the same vein, the Industrial Goods index (0.49%) remains bullish for third trading day this week on the back of gains in DANGCEM (0.96%) and CUTIX (4.76%). On the flip side, the Consumer Goods index (-1.13%) closed as the lone loser due to profit taking in NB (-2.12%), FLOURMILL (-4.93%) and GUINNESS (-1.59%).

Investor’s Sentiment Remains Negative

Investor’s sentiment remains negative as the market breadth (A-D Ratio) settled at 0.9x (vs. 0.4x previously), following price gains in 20 stocks against losses recorded in 23 stocks. OANDO (4.97%), MANSARD (4.91%) and 7UP (4.85%) were top gainers, while MAYBAKER (-9.40%), UACN (-4.95%), and FLOURMILL (-4.93%) were top losers.

Market Performance Remains Negative… NSE ASI Down 1.05%

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Market Performance Remains Negative… NSE ASI Down 1.05%

The Nigerian bourse starts the week bearish due to profit taking in TOTAL (-5.00%), MOBIL (-5.00%), 7UP (-9.53%), GUINNESS(-4.99%) and PRESCO (-4.99%). Consequently, the NSE ASI (-105bps) settled at 32,769.80 and the market capitalization lost N102.18 billion to close at N11.33 trillion. Activity level was broadly weak as Volume traded (-53.02%) decrease to 162.34 million units and Value traded (-54.70%) decreased to N1.52 billion.

The Insurance Sector Closed Lone Gainer

Sector performance was bearish as all sector indices other than the Insurance index closed negative. The Oil & Gas index (-1.81%) continues bearish movement due to sell-off in TOTAL (-5.00%), MOBIL (-5.00%) and CONOIL (-4.98%). Trailed by the Banking index (-1.13%) on the backdrop of extended profit taking in ETI (-3.01%), ZENITHBANK (-1.82%) and GUARANTY (-1.09%). While the Industrial Goods index (-0.64%) and the Consumer Goods index (-0.28%) maintains bearish trend as investors take profit solely in DANGCEM (-1.46%) and 7UP (-9.53%), GUINNESS (-4.99%), CADBURY (-0.70%) respectively. On the flip side, the bulls resurface in the Insurance index (0.35%) due to bargain hunting in MANSARD (0.90%) and AIICO (3.33%).

Investor’s Sentiment Stays Negative

Investor’s sentiment remains negative as the market breadth (A-D Ratio) settled at 0.6x (vs. 0.5x previously), following price gains in 17 stocks against losses recorded in 29 stocks. HONYFLOUR (9.66%), PZ (6.24%) and LIVESTOCK (5.26%) were top gainers, while MAYBAKER (-9.54%), 7UP (-9.53%), and UNITYBANK (-8.96%) were top losers.

Board Bargain Hunting In Large Cap Counters Lifts Market Further… NSE ASI Up 1.87%

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Board Bargain Hunting In Large Cap Counters Lifts Market Further… NSE ASI Up 1.87%

The Nigerian bourse continues its bullish momentum due to bargain hunting in SEPLAT (1.09%), DANGCEM (2.49%), NB (2.71%), PZ (9.90%) and MOBIL (0.81%). Consequently, the NSE ASI (187bps) settled at 33,269.84 and the market capitalization gained N210.88 billion to close at N11.50 trillion. Activity level was broadly strong as Volume traded (11.63%) increased to 431.16 million units and Value traded (45.30%) increased to N4.80 billion.

All Sector Indices Close Positive

Sector performance was bullish as all sector indices closed positive. Leading the gainers’ list today is the Industrial Goods index (2.26%) due to price appreciation in DANGCEM (2.49%) and WAPCO (2.88%). Trailed by the Consumer Goods index (1.63%) from gains in NB (2.71%), PZ (9.90%) and 7UP (1.11%). The Banking index (1.52%) and the Oil & Gas index (1.20%) extends bullish rally from bargain hunting in STANBIC (4.98%), UBA (5.22%), ACCESS (4.95%) and SEPLAT (1.09%), MOBIL (0.81%), OANDO (4.87%) respectively. While the Insurance index (0.20%) ends its downtrend due to renewed interest in LINKASSURE (4.69%), NEM (2.94%) and AIICO (3.45%).

Investor’s Sentiment Stays  Positive

Investor’s sentiment stays positive as the market breadth (A-D Ratio) settled at 2.6x (vs. 1.2x previously), following price gains in 36 stocks against losses recorded in 14 stocks. PZ (9.90%), DIAMONDBNK (8.33%) and UBA (5.22%) were top gainers, while MAYBAKER (-4.88%), LIVESTOCK (-4.76%) and SKYEBANK (-4.69%) were top losers.

The Market Took A Breather… NSE ASI Up 1.67%

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The Nigerian bourse started the week bullish after three consecutive days of downtrend due to bargain hunting in NESTLE (1.11%), DANGCEM (2.25%), NB (2.63%), FO (5.00%) and GUARANTY (4.35%). Consequently, the NSE ASI (167bps) settled at 32,659.84 and the market capitalization gained N185.89 billion to close at N11.29 trillion. Activity level was mixed as Volume traded (-7.49%) decreased to 386.24 million units and Value traded (1.75%) increased to N3.30billion.

The Insurance Sector Closed A Lone Loser

Sector performance was bullish as all but one of the sector indices closed negative. The Banking index (3.16%) led the gainers list, reversing four trading days of bearish movement due to bargain hunting in GUARANTY (4.35%), UBA (8.17%) and STANBIC (0.98%). Followed by the Industrial Goods index (1.08%) on the back of gains in DANGCEM (2.25%) and CUTIX (2.63%). In the same vein, the Consumer Goods index (0.84%) and the Oil & Gas index (0.40%) were lifted by price appreciation in NESTLE (1.11%), NB (2.63%), INTBREW (4.98%) and FO (5.00%), TOTAL (0.03%) respectively. On the flip side, the Insurance index (-0.09%) emerged as a lone loser from profit taking in MANSARD (-2.28%) and CONTINSURE (-1.57%).

Investor’s Sentiment Turned Positive

Investor’s sentiment turned positive as the market breadth (A-D Ratio) settled at 1.2x (vs. 0.6x previously), following price gains in 26 stocks against losses recorded in 21 stocks. UBA (8.17%), NEM (7.37%) and DIAMONDBNK (6.19%) were top gainers, while OKOMUOIL (-4.99%), JBERGER (-4.99%) and UNILEVER (-4.98%) were top losers.

The Nigerian Equities Market Ends The Week Bearish … NSE ASI Down 2.45%

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The Nigerian Equities Market Ends The Week Bearish … NSE ASI Down 2.45%

The Nigerian bourse ends the week bearish, on the backs of profit taking in DANGCEM (-4.59%), NB (-3.88%), OKOMUOIL (-5.00%), WAPCO (-4.99%) and CAP (-4.97%). Consequently, the NSE ASI (-245bps) settles at 32,122.14 and the market capitalization lost N278.74 billion to close at N11.10 trillion. Activity level was broadly weak as Volume traded (-18.07%) decreased to 417.53 million units and Value traded (-35.51%) decreased to N3.24billion.

The Oil and Gas Index Emerges As Lone Gainer

Sector performance remains broadly bearish with all sector indices aside for the Oil and Gas index closing negative. The Industrial Goods index (-4.55%) lost the most due to profit taking in DANGCEM (-4.59%), WAPCO (-4.99%) and CCNN (-4.93%). Trailed by the Consumer Goods index (-1.90%) on the backdrop of sell down in NB (-3.88%), FLOURMILL (-5.00%) and CADBURY (-3.25%). While the Banking index (-1.52%) and the Insurance index (-1.40%) followed suit as investors take profit in UBA (-9.57%), ACCESS (-3.90%), FBNH (-3.12%) and MANSARD (-4.78%), CONTINSURE (-1.55%), NEM (-1.04%) respectively. On the flip side, the Oil & Gas index (0.65%) emerges as a lone gainer from bargain hunting solely in OANDO (4.78%).

Investor’s Sentiment Remains Negative

Investor’s sentiment remains negative as the market breadth (A-D Ratio) settles at 0.6x (vs. 0.3x previously), following price gains in 21 stocks against losses recorded in 33 stocks. CHAMPION (9.74%), NEIMETH (6.52%) and CILEASING (5.00%) were top gainers, while UBA (-9.57%), WEMABANK (-6.56%) and TRANSCORP (-5.92%) were top losers.

Extended Sell-Off In All Sectors Retains Market Performance… NSE ASI Down 164bps

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Extended Sell-Off In All Sectors Retains Market Performance… NSE ASI Down 164bps

Weak sentiment persists in the Nigerian bourse with the second consecutive day of downtrend from sell-off in NB (-4.80%), OKOMUOIL (-4.99%), PRESCO (-3.95%), MOBIL (-1.16%) and JBERGER (-4.99%). Consequently, the NSE ASI (-1.64%) settles at 33,477.89 and the market capitalization lost N189.95 billion to close at N11.38 trillion. Activity level was mixed as Volume traded (0.20%) increased to 509.61 million units and Value traded (-21.29%) decreased to N5.03 billion.

The Consumer Goods Index Leads The Losers List

Sector performance remained the same as all sector indices close negative for the second consecutive day. The Consumer Goods index (-2.63%) leads the losers list today from profit taking in NB (-4.80%), INTBREW (-4.99%) and GUINNESS (-2.05%). Trailed by the Banking index (-2.35%) on the backdrop of sell down in STANBIC (-4.37%), ETI (-8.47%) and ZENITHBANK (-3.63%). While the Insurance index (-1.33%) continues its downward trend for the fifth consecutive trading day as investors take gains in MANSARD (-4.96%), CUSTODYINS (-2.56%) and AIICO (-4.92%). In the same vein, the Industrial Goods index (-0.76%) and the Oil & Gas index (-0.42%) remain bearish on the back of losses in WAPCO (-1.63%), CCNN (-4.70%) and MOBIL (-1.16%), OANDO (-4.95%), ETERNA (-4.79%) respectively.

Investor’s Sentiment Remains Negative

Investor’s sentiment remains negative as the market breadth (A-D Ratio) settles at 0.3x (same as previous day), following price gains in 13 stocks against losses recorded in 45 stocks. CONOIL (10.24%), ASHAKACEM (10.16%) and BERGER (10.05%) were top gainers, while MAYBAKER (-9.62%), TRANSCORP (-9.52%) and WEMABANK (-8.96%) were top losers.

Broad Profit Taking in Large Cap Counters Drags Market Performance… NSE ASI Down 261bps

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Broad Profit Taking in Large Cap Counters Drags Market Performance… NSE ASI Down 261bps

The Nigerian bourse closed bearish as investor’s take profit in large cap counters such as NESTLE (-1.10%), DANGCEM (-4.19%), 7UP (-3.22%), WAPCO (-4.06%) and NB (-1.19%). Consequently, the NSE ASI (-2.61%) settles at 33,477.89 and the market capitalization lost N-310.34 billion to close at N11.57 trillion. Activity level was broadly weak as Volume traded (29.66%) decreased to 508.61 million units  and Value traded (51.67%) decreased to N6.40 billion.

All Sectors Close Negative

Sector performance was broadly bearish as all sector indices close negative. The Industrial Goods index (-3.56%) leads the losers from profit taking in DANGCEM (-4.19%), WAPCO (-4.06%) and CUTIX (-3.59%), trailed by the Banking index (-2.90%) on the backdrop of sell down in GUARANTY (-2.53%), STANBIC (-2.74%), ZENITHBANK (-3.99%). While the Insurance index (-1.41%) continues its downward trend for the fourth consecutive trading day as investors take gains in MANSARD (-3.20%), NEM (-4.17%) and AIICO (-4.69%). In the same vein, the Consumer Goods index (-1.14%) ends its bullish run on account of profit taking in NESTLE (-1.10%), 7UP (-3.22%), NB (-1.19%). The Oil & Gas index (-0.53%) remains bearish on the back of losses solely in OANDO (-4.97%).

Investor’s Sentiment Remains Negative

Investor’s sentiment remains negative as the market breadth (A-D Ratio) settles at 0.3x (vs. 0.9x previously), following price gains in 12 stocks against losses recorded in 37 stocks. NEIMETH (9.09%), CONOIL (4.99%) and CCNN (4.93%) were top gainers, while PZ (-5.00%), SKYEBANK (-5.00%) and CADBURY (-4.98%) were top losers.

The Nigerian Equities Market Remains Bullish … NSE ASI Up 96bps

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The Nigerian Equities Market Remains Bullish … NSE ASI Up 96bps

The Nigerian bourse starts the week bullish from bargain hunting in DANGCEM (2.44%), PRESCO (4.99%), INTBREW (8.83%), STANBIC (4.68%) and ETI (7.12%). Consequently, the NSE ASI (0.96%) settles at 34,135.10 and the market capitalization gained N112.20 billion to close at N11.80 trillion. Activity level was broadly weak as Volume traded (-2.17%) decreased to 482.52 million units  and Value traded (-8.90%) decreased to N5.68 billion.

The Industrial Goods Index Rebounds

The sector indices ends the week mixed with 3 sector indices closing positive and 2 closing negative. The Industrial Goods index (1.34%) rebounds due to renewed interest in  DANGCEM (2.44%), CCNN (10.17%) and WAPCO (0.93%). Trailed by the Consumer Goods index (0.65%) and the Banking index (0.51%) which retains bullish momentum for the fourth consecutive trading day from bargain hunting in INTBREW (8.83%), FLOURMILL (3.51%), NB (0.61%) and STANBIC (4.68%), ETI (7.12%), GUARANTY (0.76%) respectively. On the flip side, the Oil & Gas index (-1.86%) and the Insurance index (-0.36%) continue downward movement due to profit taking in MOBIL (-5.00%), FO (-4.98%), OANDO (-4.07%) and LINKASSURE (-3.51%) respectively.

Investor’s Sentiment Turns Positive

Investor’s sentiment turns positive as the market breadth (A-D Ratio) settles at 1.5x (vs. 0.8x previously), following price gains in 28 stocks against losses recorded in 19 stocks. CCNN (10.17%), MAYBAKER (9.87%) and INTBREW (8.83%) were top gainers, while CAP (-9.52%), MOBIL (-5.00%) and FO (-4.98%) were top losers.

Board Bargain Hunting in Large Cap Counters Pulls Market Performance… NSE ASI Up 59bps

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Board Bargain Hunting in Large Cap Counters Pulls Market Performance… NSE ASI Up 59bps

The Nigerian bourse close bullish for the second consecutive day as investors resume bargain hunting in large cap counters such as NB (2.34%), UNILEVER (5.65%), ZENITHBANK (4.61%), GUARANTY (1.67%)  and FLOURMILL (1.79%) and others following the two day bearish trend at the start of the week. Consequently, the NSE ASI (0.59%) settles at 33,797.84 and the market capitalization gained N69.02 billion to close at N11.68 trillion. Activity level was mixed as Volume traded (-24.43%) decreased to 573.60million units  and Value traded (24.74%) increased to N7.85 billion.

The Banking Index Leads The Gainers

The sector indices remain broadly bullish with 3 sector indices closing positive and 2 closing negative. The Banking index (1.83%) held on to its lead as bargain hunting persist in GUARANTY (1.67%), ZENITHBANK (4.61%) and SKYEBANK (9.52%). Followed by the Insurance index (1.36%) on the backs of gains in NEM (1.09%), MANSARD (4.84%) and AIICO (3.70%). While the Consumer Goods index (1.12%) sustains bullish trend due to bargain hunting in NB (2.34%), UNILEVER (5.65%), FLOURMILL (1.79%). On the flip side, the Industrial Goods index (-1.11%) and the Oil & Gas index (-1.10%) reverse back to the bears from profit taking in WAPCO (-2.71%) and SEPLAT (-1.18%), MOBIL (-4.16%), FO (-0.75%) respectively.

Investor’s Sentiment Stays Positive

Investor’s sentiment stays positive as the market breadth (A-D Ratio) settles at 1.4x (vs. 1.6x previously), following price gains in 33 stocks against losses recorded in 24 stocks. MAYBAKER (9.79%), SKYEBANK (9.52%) and UNILEVER (5.65%) were top gainers, while CHAMPION (-4.89%), HONYFLOUR (-4.85%) and JAIZBANK (-4.49%) were top losers.

The Market Rebounds… NSE ASI Down 138bps

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The Market Rebounds… NSE ASI Down 138bps

The Nigerian equities market rebounds due to bargain hunting in SEPLAT (1.20%), UNILEVER (10.00%), OKOMUOIL (5.00%) and NB (1.85%). Consequently, the NSE ASI (1.38%) settles at 33,598.20 and the market capitalization gained N157.65 billion to close at N11.62 trillion. Activity level was broadly strong as Volume traded (85.71%) increased to 759.04 million units  and Value traded (13.53%) increased to N6.30 billion.

All Sector Indices Close Positive

All sector indices rebound from yesterday’s loss with the Banking index (2.92%) leading the gainers due to bargain hunting in GUARANTY (4.98%), ZENITHBANK (4.99%) and STANBIC (3.37%). Trailed by the Insurance index (1.55%) on the back of price appreciation in CONTINSURE (2.86%), MANSARD (3.33%) and AIICO (1.89%), also the Oil & Gas index (1.28%) from renewed interest in SEPLAT (1.20%)  and OANDO (8.13%). In the same vein the Consumer Goods index (1.03%) and the Industrial Goods index (0.83%) reverse bearish trend from bargaining hunting in FLOURMILL (3.70%), CADBURY (2.64%), DANGSUGAR (0.10%) and WAPCO (1.83%), CCNN (4.94%) respectively.

Investor’s Sentiment Stays Positive

Investor’s sentiment stays positive as the market breadth (A-D Ratio) settles at 1.6x (vs. 1.5x previously), following price gains in 36 stocks against losses recorded in 22 stocks. MAYBAKER (10.20%), ASHAKACEM (10.18%) and UNILEVER (10.00%) were top gainers, while INTBREW (-4.80%), CUTIX (-4.62%) and 7UP (-4.44%) were top losers.

The Equity Market Continues Its Bearish Movement… NSE ASI Down 28bps

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The Equity Market Continues Its Bearish Movement… NSE ASI Down 28bps

The Nigerian equities market dips further as profit taking persists in  NESTLE (-2.60%), SEPLAT (-1.37%), MOBIL (-3.27%), FO (-9.57%) and ACCESS (-3.72%). Consequently, the NSE ASI (-0.28%) settles at 33,142.18 and the market capitalization lost N32.68 billion to close at N11.46 trillion. Activity level was broadly weak as Volume traded (-18.43%) decreased to 408.72 million units  and Value traded (-9.28%) decreased to N5.5 billion.

 

All Sector Indices Close Negative

The Oil & Gas index (-2.05%) leads the losers again as profit taking persist in SEPLAT (-1.37%), MOBIL (-3.27%) and FO (-9.57%). Trailed by the Banking index (-0.58%) which ends its eight consecutive days of bullish momentum due to profit taking in UBA  (-1.68%), ACCESS (-3.72%) and ETI (-0.79%). While the Consumer Goods index         (-0.56%) extends its bearish trend on the back of losses in  NESTLE (-2.60%), CADBURY (-7.87%) and PZ                 (-4.17%). In the same vein, the bears resurface in the Insurance index (-0.09%) and the Industrial Goods index                (-0.09%) as sentiment decline in CUSTODYINS (-4.36%), MANSARD (-1.23%), NEM  (-3.16%) and  DANGCEM (-0.15%), CUTIX (-2.99%) respectively.

 

Investor’s Sentiment Turns Positive

Investor’s sentiment turns positive as the market breadth (A-D Ratio) settles at 1.5x (vs. 0.7x previously), following price gains in 31 stocks against losses recorded in 27 stocks. MAYBAKER (9.94%), TRANSCORP (9.64%) and SKYEBANK (7.41%) were top gainers, while FO (-9.57%), CADBURY (-7.87%) and CHAMPION (-4.94%) were top losers.

Market Starts The Week Bearish… NSE ASI Down 12bps

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Market Starts The Week Bearish… NSE ASI Down 12bps

The Nigerian bourse starts the week bearish due to profit taking in NESTLE (-4.15%), TOTAL (-3.90%), 7UP (-4.80%), SEPLAT (-0.46%) and UACN (-5.84%). Consequently, the NSE ASI (-0.12%) settles at 33,276.68 and the market capitalization lost N13.82 billion to close at N11.49 trillion. Activity level was mixed as Volume traded (-26.99%) decreased to 501.07 million units  and Value traded (0.68%) increased to N6.11 billion respectively.

 

Sectoral Performance Starts The Week Mixed

Sector performance begins the week mixed as 2 sectors close negative and 3 close positive. The Oil & Gas index (-1.14%) leads the losers from profit taking in TOTAL (-3.90%), SEPLAT (-0.46%) and OANDO (-2.63%). Followed by the Consumer Goods index     (-1.08%) which reverses its bullish streak as the bears resurface in  NESTLE (-4.15%), 7UP (-4.80%) and FLOURMILL (-2.17%).  On the flip side, the Insurance index (1.10%) sustains its bullish trend due to bargain hunting in MANSARD (4.74%) and CONTINSURE (3.76%). Trailed by the Banking index  (0.46%) as gains persist in STANBIC (1.69%), ACCESS  (3.46%) and GUARANTY (0.60%). While the Industrial Goods index (0.14%) extends rally from price appreciation in ASHAKACEM (10.09%), DANGCEM (0.18%) and CCNN (4.98%).

Investor’s Sentiment Turns Negative

Investor’s sentiment turns negative as the market breadth (A-D Ratio) settles at 0.7x (vs. 2.6x previously), following price gains in 20 stocks against losses recorded in 30 stocks. ASHAKACEM (10.09%), MAYBAKER (9.86%) and HONYFLOUR (9.60%) were top gainers, while INTERBREW (-8.63%), UACN (-5.84%) and AIICO (-5.36%) were top losers.

Nigerian Market Ends The Week Positive… NSE ASI Up 78bps

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The Nigerian bourse reverses its bearish trend after three days of consecutive profit taking due to renewed interest in NESTLE (10.25%), MOBIL (1.79%), FO (5.09%), ZENITHBNK (3.24%) and FBNH (5.00%). Consequently, the NSE ASI advanced by 78bps to settle at 25,012.08 and the market capitalization gained N63.18 billion to settle at N8.66 trillion. Activity level was broadly bullish as Volume and Value traded increased by 47.40% and 94.28% to 274.17 million units and N3.40 billion respectively.
Consumer Goods Sector Leads Gainers
Sector performance at the close of trading was broadly bullish as all sector indices closed positive. The Consumer Goods (2.10%) index appreciates further due to extended bargain hunting in NESTLE (10.25%), VITAFOAM (5.00%) and DANGSUGAR (1.05%). Trailed by the Oil & Gas (0.79%) index which continues its bullish trend for the fifth consecutive day due to gains recorded in MOBIL (1.79%) and FO (5.09%). The Banking (0.63%) index continues its uptrend in ZENITHBANK (3.24%), FBNH (5.00%) and ACCESS (0.15%). The Insurance (0.32%) index followed suit consequent on positive sentiments in MANSARD (1.27%) and AIICO (1.69%). The Industrial Goods (0.19%) index reverses yesterday’s loss due to renewed interest in BETAGLAS (4.99%) and CCNN (0.47%).
Investor’s Sentiment Turns Positive
Investor sentiment improved at the close of trading as the market breadth (A-D Ratio) settled at 2.0x (vs. 0.7x previously) following price gains in 16 stocks against losses recorded in 8stocks. NESTLE (10.25%), FO (5.09%) and FBNH (5.00%) were top gainers, while 7UP (-5.00%), CUSTODYINS (-4.69%) and UCAP (-1.72%) were top losers.

Input Cost Pressures Drives Earnings Lower, Records Lowest EPS

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Nigerian Breweries PLC (“NB”) on Monday (20/02/2017) released its audited full year 2016 (FY’16) result wherein revenue rose 6.75% Year-on-Year (YoY) to ₦313.74 billion from ₦293.91 billion in FY’15, a 3.41% variation from our forecast of ₦303.40 billion, while PBT and PAT declined 27.22% and 25.33% YoY to ₦39.68 billion and ₦28.42 billion respectively. In line with its consistent dividend payout, NB declared a dividend of ₦2.58 per share which implies a full year dividend of ₦3.58 and a dividend yield of 2.67% (at last trading price of ₦133.99, albeit lower than ₦4.80 declared in 2015). However, the management is proposing a script issue for shareholders’ approval instead of a cash dividend.
In line with a press release by Heineken, the devaluation of the Nigerian Naira (NGN) impacted operations with further pressure on consumer income. Accordingly, the revenue growth was driven by the outperformance of the mainstream and economy brands (with a price range of ₦130 – ₦150), and two rounds of price increases implemented during the year.
Rising Competition in Local Inputs Market Drove Margin Contraction
The revenue growth during the period broadly reflects the upward adjustment to prices in a bid to offset elevated input costs (as opposed to significant growth in volumes). NB implemented c.20% price increases in May and September taken across 80% of the entire product portfolio to offset the rising cost of locally sourced raw materials (which accounts for c. 85% of Cost of Sales) and imported packaging inputs.
The elevated inflationary environment drove prices of cereals (Sorghum, Maize) and Refined sugar, while the increased competition in the grains market (due to FX gains from export to neighbouring countries) and the pass through impact of currency weakness on imported packaging inputs and components further intensified the cost pressures. Consequently, Cost of Sales (COGS) rose by 17.68% YoY to ₦178.22 billion and Gross margin compressed by 5.28% to 43.20% in FY’16 from 48.47% in FY’15 to ₦135.52 billion in FY’16, a marginal variation from our estimate of ₦131.25 billion.
Rising Cost Pressures Offsets Cost Containment
Reflecting the impact of the elevated inflationary environment driven by energy related costs, Sales and Distribution S&D) expenses rose by 36.03% YoY – due to a spike in the cost of transportation, exacerbated by the rising prices of petroleum products. While the decline in Admin expenses (-38.49% YoY) was unable to offset the impact of higher S&D, to book 3.12% YoY rise in operating costs (OPEX) to ₦83.24 billion in FY’16 from ₦80.72 billion in FY’15. Accordingly, EBIT margin depressed 4.31% YoY to 16.86% from 21.17% in FY’15.
Largely driven by FX losses, finance expense advanced 66.04% YoY to ₦13.65 billion in line with our estimate of ₦13.29 billion (bloated by loss on FX related transactions of ₦7.55 billion) underpinned by higher interest charge on a ₦34.5 billion long term loan acquired in the Q3’16. Consequently, NB recorded PBT and PAT of ₦39.68 billion (-27.22% YoY) and ₦28.42 billion (-25.33% YoY) respectively in FY’16.
Share Dividend to Support Long Term Growth
In line with the spate of rights issue in the Consumer Goods Sector, NB is seeking the approval of shareholder to issue new bonus shares (script dividend) instead of the cash payment. If approved, the script issue will result in the issuance of additional 2.0 billion shares and an increase in share capital to ₦5.0 billion.
The issuance of more shares gives the company the opportunity to retain more cash rather than a rights issue (given the state of the domestic capital market) or increasing borrowing with the monumental growth in finance expense booked in 2016 (bloated by FX losses). Though the script issue (which by our estimate would be 1 ordinary share for every 4 shares held on the qualification date) portends a dilution for shareholders, but we expect the improved expenditure on backward integration and the need to augment the persistently negative working to improve performance in the medium to long term.
FX and Energy Costs Uncertainties Dampen 2017 Earnings Outlook
Going into 2017, we expect cost pressures to persist with the prospect of a further devaluation of the NGN and hike in energy prices. Consequently, we do not expect a rollback in prices across the brand portfolio in the interim, while the sustained rise in prices of locally sourced inputs leaves legroom for further price increases in order to offset the rising costs of raw materials and consumables, and FX pass through on imported packaging inputs and components. Thus we raised our 2017F revenue projections to ₦330.15 billion, 2.36% higher than our previous forecast of ₦322.54 billion, which will be driven by the larger mainstream and economy brands (Goldberg, Life, 33, Williams, Turbo King and More), while improvement in macro conditions should support sales from the premium brands (Heineken, Star, Gulder and Legend). In line with our outlook for further price increases, we expect 12bps YoY improvement in gross margin to 43.32% 2017F from 43.20% in FY’2016.
Following the release of the result and announcement of a script issue instead of a cash dividend, the share price of NB has rallied 11.84% and currently trades at ₦133.99 (24/02/2017) with P/E and P/BV of 37.39x and 6.40x respectively. With our fair value 2017F EPS of ₦3.60 (reflecting the dilution in shares from the issuance of additional 2 billion shares) and target price (TP) of ₦117.44, which implies forward P/E and P/BV of 32.58x and 6.76x respectively. Our TP presents a potential downside of 12.35%, hence we place a SELL on NB.

Market Performance Remains Positive Albeit Marginal… NSE ASI Up 1bp

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The uptrend in the Nigerian bourse persists for the third consecutive session on the backdrop of positive interest in NB (4.33%), GUINNESS (1.52%), ACCESS (2.53%), CUSTODYINS (4.94%) and FBNH(3.15%). Consequently, the NSE ASI advanced 1 bp to settle at 25,251.63 and the market capitalization appreciated N0.74 billion to settle at N8.74 trillion. Activity level improved as Volume and Value traded went up by 21.08% and 180.56% to 125.15mn and N2.75 billion respectively.

Sector Performance was Mixed
Sector performance at the close of trading was broadly bearish as 3 sectors out of 5 recorded losses. The Industrial Goods index (-2.11%) led the losers list as investors took gains in WAPCO (-5.00%) and DANGCEM (-0.01%). The Oil & Gas index (-1.47%) continues its bearish movement for three consecutive days due to sell off in SEPLAT (-2.63%) and FO (-5.41%). The Banking index (-0.56%) maintains its downtrend driven by profit taking in ZENITHBNK (-1.93%), GUARANTY (-0.78%) and UBA (-1.04%). On the flip side the Consumer Goods index (1.52%) retains its bullish movement with bargain hunting in NB (4.33%) and GUINNESS (1.52%), while the Insurance index (0.47%) reverses its six consecutive days of sell-off with renewed interest in CUSTODYINS (4.94%) and CONTINSURE (3.81%).

Investor’s Sentiment Stays Negative
Investor sentiment stays negative as the market breadth (A-D Ratio) settled at 0.5x (vs. 0.6x previously) following price gains in 11 stocks against losses recorded in 21 stocks. CUSTODYINS (4.94%), NB (4.33%) and CONTINSURE (3.81%) were top gainers, while FO (-5.41%), DANGFLOUR (-5.12%), and UNILEVER (-5.00%) were top losers.

Sell-Off in Nigerian Breweries Drove Market Performance… NSE ASI Down 30bps

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The Nigerian bourse turns negative ending yesterday’s gains, consequent on profit taking in NB (-3.81%), UACN (-0.75%), STANBIC (-0.50%), FO (-0.18%) and ZENITHBNK (-0.13%). Consequently, the NSE ASI settled at 25,055.29 after shedding 30bps and the market capitalization lost N25.95 billion to settle at N8.67 trillion. Activity level was weakened as Volume and Value traded went down by 10.78% and 14.56% to settle at 144.39mn and N1.54 billion respectively.

Consumer Goods Sector Reverses Yesterday’s Performance
Sector performance at the close of trading was broadly bearish as 2 sectors closed positive, 2 recorded losses and 1 closed flat. The Consumer Goods index (-1.73%) reverses yesterday’s gain due to renewed sell-off in NB (-3.81%) following the recent result released by Heineken (parent company of NB), which revealed that performance in Africa was weak with specific mention of the adverse impact of naira weakness on results in Nigeria. Followed by UACN (-4.97%) and FLOURMILL (-0.28%). Trailed by the Insurance index (-0.78%) which maintains its bearish trend solely on profit taking in MANSARD (-4.40%). On the flip side, bulls resurface in the Banking index (0.40%) after two consecutive days of profit taking on the backdrop of bargain hunting in FBNH (4.38%), STERLNBANK (4.29%) and UBA (1.04%). In the same vein, the bullish rally in the Oil & Gas index (0.05%) persists for the fifth consecutive session due to increased sentiment in ETERNA (3.09%), OANDO (0.85%) and TOTAL (0.04%) whilst the Industrial Goods (0.00%) index closed flat.

Investor’s Sentiment Remains Negative
Investor sentiment stays negative although there was some improvement at the close of trading as the market breadth (A-D Ratio) settled at 0.9x (vs. 0.7x previously) following price gains in 16 stocks against losses recorded in 17 stocks. JBERGER (5.00%), NEIMETH (4.55%) and FBNH (4.38%) were top gainers, while UACN (-4.97%), VITAFOAM (-4.81%), and JOHNHOLT (-4.55%) were top losers.

MARKET LAST WEEK (Review)

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 In contrast to last week’s bargain hunting, sentiment was bearish in the Nigerian bourse following extended sell-offs in most trading days of the week. The market opened Monday negative on account of extended profit taking in banking stocks and maintained a bearish trend until Wednesday before rebounding 0.13% on Thursday. However, the market was unable to sustain the uptrend, the local bourse closed the week negative. Overall, bourse lost 2.14% in 4 out of the 5 trading days of the week as renewed sell-off in most large cap counters across board weakened market performance.
 Following the weakened sentiment recorded across most sectoral indices, the broad market index shed 2.00% W-o-W to settle at 25,802.54 points while YTD loss worsened to -3.99% and market capitalization eased by N166.46bn W-o-W to settle at N8.89tn.
 Market sentiment lost steam as the market breadth (A-D ratio) weakened to 0.6 (Vs. 1.0x in the previous week) as 23 stocks advanced while 37 stocks declined. Market activity was broadly bearish as Average Volume and Value traded declined 9.99% and 59.44% W-o-W to 178.32m and N1.53bn respectively.
 Performance during the week was dragged by losses in NESTLE (-9.33%), TOTAL (-10.36%), FO (-15.14%), SEPLAT (-2.63%) and GUARANTY (-5.46%) while Sector performance was broadly bearish as most sector indices close negative save for the Industrial Goods (4.37%) due to gains in WAPCO and DANGCEM.
MARKET THIS WEEK (Outlook)
 Last week, the NBS released the Q4’2016 and 2016 Capital Importation Data, which revealed that capital imported in Q4’16 declined by 15.00 q/q and 0.52% y/y to $1.55bn while for the full year 2016 it fell by 46.86% to $5.12bn from $9.64bn in FY’15. Analysis by type revealed that Portfolio Investment (FPI) declined 69.12% q/q and 70.16% y/y.
 The decline in FPI in which Equity investments historically accounts for a significant percentage coincides with the decrease in foreign participation in the equities market in 2016 to 44.95% from 53.79% of total value of transactions in the bourse.
 The data releases broadly reflect the persistent depreciation of the NGN and the fragile state of the economy amid high political risk and lack of concise fiscal direction. Though the recent rebound in oil prices is a key positive, but the likelihood of further rate hikes in the US portends risk of capital outflow from emerging markets.
 In line with the above, we expect activities in the market to remain dominated by domestic investors with soft foreign participation in the interim. Hence, we do not anticipate significant deviation from the see-saw trend in the coming week.
 However, with the earnings season approaching, we believe investors will take advantage of bargain opportunities in stocks with strong fundamentals ahead of the earnings release.
Top Pick For The Week
Guaranty Trust Bank Plc
 Guaranty Trust Bank (“GTBank”) is one of the leading Nigerian banks with a wide range of business outlays spanning across West Africa, East Africa and the United Kingdom. GTBank is known for pushing new frontiers in bank service delivery through effective use of ICT. This gives the bank an edge in a competitive homogeneous market and gives it wider reach and a large share of the millennial population.
 Despite the sector wide challenges, GTBank makes our recommendation for its astute cost management strategy and proactive balance-sheet deployment and optimization. The balance sheet size ranks it in the Tier-1 category based on total assets size which stood at N2.46 trillion as at 9M:2016 and is also regarded as a Systemically Important Bank (SIB) by CBN’s classification
 In 9M:2016, GTBank posted a strong top line growth with Gross Earnings up 41.70% y/y. Although Interest Income growth was mild (5.17% y/y), but Total Operating Income was up significantly by 30.71% q/q – supported by a jump in Non-Interest Income largely due to FX revaluation gains. Overall, PAT rose 53.44% y/y to ₦119.93 billion.
 The Bank’s Cost to Income Ratio (CIR) declined to 32.60% in 9M:2016 from 43.72% in 9M:2015.
 GUARANTY remains adequately capitalized and liquid with Capital Adequacy Ratio (CAR) based on BASEL II and Liquidity Ratio (L.R) of 18.10% and 37.62% respectively.
 The stock currently trades at N23.02 (03/02/2017) relative to our 12-month target price of N27.94 and presently trading at trailing P/E and P/BV of 5.45x and 1.64x respectively.
 Recommendation – BUY

Bearish Streak in Manufacturing Counters Drags Market Performance… NSE ASI Down 17bps

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Bearish Streak in Manufacturing Counters Drags Market Performance… NSE ASI Down 17bps

The week sentiment in the Nigerian bourse persists for the third consecutive trading session, as the downtrend extends in the manufacturing counters (Consumer Goods and Industrial Goods sector). Market activity today was largely dictated by sell-off in NESTLE (-40bps), FO (-2.90%), DANGCEM (-60bps), NB (-42bps) and OANDO (-2.35%). Consequently, the NSE ASI declined 17bps to settle at 26,201.60 and the market capitalization dipped by N15.05 billion to settle at N9.02 trillion. Activity level was mixed as Volume traded appreciated 50.24% and Value traded declined 89.42% to 196.46 million and N2.61 billion respectively.

Mixed Sector Performance

Sector performance was mixed as 3 out of the 5 sectors closed positive. The sell-off in the Consumer Goods index (-22bps) persists for the eleventh consecutive trading session stemming from declining sentiment in INTBREW (-2.67%), NB (-42bps) and NESTLE (-40bps), while the Industrial Goods index (-29bps) followed suit, due to profit taking in BERGER (-5.00%) and DANGCEM (-60bps). On the flip side, sentiment in the Insurance index (42bps) improved due solely to price appreciation in CONTINSURE (4.46%). Trailed by the Banking index (39bps) as gains in ETI (4.23%), UBA (1.57%) and ZENITHBANK (25bps) reverse yesterday’s downtrend, while the Oil & Gas index (10bps) bucked five consecutive days of sell-off as positive sentiment resurface in TOTAL (3.34%) and MOBIL (1.34%).

Investor’s Sentiment Turns Positive

Investor sentiment entered the positive region as the market breadth (A-D Ratio) improved to 1.0x (vs. 0.6x previously) following price appreciation in 19 stocks against losses recorded in 19 stocks. UAC-PROP (4.96%), CUTIX (4.83%) and CONTINSURE (4.46%) were top gainers, while DIAMONDBNK (-8.40%), BERGER (-5.00%) and VITAFOAM (-4.62%) were top losers.

Extended Sell-Off in the Oil & Gas Sector Drags Market Performance… NSE ASI Down 13bps

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Insurance Index Emerges a Lone Gainer

Sector performance was mixed as 3 out of the 5 sectors closed negative. The down trend in the Oil & Gas index (-44bps) persists for the fifth consecutive trading session stemming from weak investor sentiment in FO (-1.85%) and OANDO (-64bps) as a result of investor’ expectation of margin pressure due to rising prices of imported products following further depreciation and uptick in crude oil prices. Trailed by the Consumer Goods index (-19bps) due to losses recorded in GUINNESS (-5.00%), UNILEVER (-4.29%) and CADBURY (-1.85%), while the Banking index (-10bps) followed suit due to profit taking in DIAMONDBNK (-4.80%), FIDELITYBK (-1.06%) and FBNH (-55bps). On the flip side, the Insurance index (-2bps) recorded a marginal gain on the back drop of modest sentiment in WAPIC (-1.89%) and NEM (-1.23%) to emerge a lone gainer, while the Industrial Goods index closed flat.

Investor’s Sentiment Weakens Further

Investor sentiment dipped further in the negative region as the market breadth (A-D Ratio) weakened to 0.6x (vs. 0.9x previously) following price appreciation in 12 stocks against losses recorded in 20 stocks. AGLEVENT (4.76%), CUTIX (2.11%) and AIRSERVICE (1.92%) were top gainers, while PORTPAINT (-5.00%), GUINNESS (-5.00%) and DIAMONDBNK (-4.80%) were top losers.

Profit Taking in Bellwether Counters Drags Market Performance… NSE ASI Down 88bps

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The Nigerian equities market took a breather after two days of consecutive rally following sell-off in bellwether counters across most sector indices. Market activity was dragged by profit taking in 7UP (-9.10%), MOBIL (-0.77%), GUARANTY (-4.23%), DANGCEM (-0.59%) and FO (-0.76%). Consequently, the NSE ASI declined 88bps to settle at 26,346.24 and the market capitalization gained N80.51bn to settle at N9.07trillion. Activity level was mixed as Volume traded advanced 33.64% and Value traded declined 10.71% to 279.34 million and N1.25 billion respectively.
Oil and Gas Index Closed a Lone Gainer
Sector performance was broadly bearish as 1 sector closed positive and 4 recorded losses. After seven consecutive sessions of sell-off, the Oil & Gas index (0.15%) closed a lone gainer stemming from gains recorded in TOTAL (1.67%) and OANDO (1.32%). On the flip side, the Banking Index (-2.81%) led the losers list as investors take profit in GUARANTY (-4.23%), UBA (3.26%) and ACCESS (3.23%), after two consecutive days of leading the gainers list. Trailed by the Consumer Goods (-0.41%) and Industrial Goods (-0.31%) indices due to losses recorded in 7UP (-9.10%), DANGSUGAR (-2.28%) and DANGCEM (-0.59%). In the same vein, the Insurance index (-0.08%) closed negative albeit marginal on the backdrop of profit taking in MANSARD (-4.14%) and AIICO (-1.67%).
Investor’s Sentiment Back in the Negative Region
Investor sentiment slipped back into the negative region as the market breadth (A-D Ratio) weakened to 0.7x (vs. 1.2x previously) following price appreciation in 18 stocks against losses recorded in 25 stocks. UCAP (5.00%), CONTINSURE (4.76%) and NAHCO (4.63%) were top gainers, while CUTIX (-9.52%), CAVERTON (-9.30%) and 7UP (-9.10%) were top losers.

A Good Start to the Week… NSE ASI Up 1.25%

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The Nigerian bourse started the week positive as bargain hunting persists in the banking index following the announcement of board meeting by some banks, to consider the audited financial statements for the year ended December 31, 2016. Consequently, the NSE ASI advanced 1.25% to settle at 26,580.22 and the market capitalization gained N113.15bn to settle at N9.15trillion. The positive performance was on the backdrop of bargain hunting bellwether counters — DANGCEM (1.20%), GUARANTY (4.50%), TOTAL (0.33%), ZENITHBANK (4.87%) and ACCESS (3.66%). Activity level was weak as Volume and Value traded declined by 0.56% and 7.41% to settle at 209.02 million and N1.40 billion respectively.
Mixed Sector Performance
Sector performance at the close of trading was mixed as 3 sectors closed positive and 2 recorded losses. The Banking Index (4.04%) sustained the positive momentum for the third consecutive trading session as bargain hunting persists in FCMB (9.40%), FIDELITYBK (8.43%) and STERLNBANK (7.14%). Trailed by the Industrial Goods (0.59%) and Insurance (0.33%) indices on the backdrop of price appreciation in DANGCEM (1.20%), CONTINSURE (5.00%) and WAPIC (1.96%). On the flip side, the Oil & Gas (-0.27%) and Consumer Goods (-0.18%) indices recorded losses due to profit taking in OANDO (-2.99%), FO (-0.26%), 7UP (-5.00%) and CADBURY (-4.95%).
Investor’s Sentiment Turned Positive
Investor sentiment turned positive at the close of trading as the market breadth (A-D Ratio) strengthened to settle at 1.2x (vs. 0.8x previously) following price appreciation in 19 stocks against losses recorded in 16 stocks. UCAP (9.06%), FCMB (9.40%) and FIDELITYBK (8.43%) were top gainers, while 7UP (-5.00%), ASHAKACEM (-4.99%) and CADBURY (-4.95%) were top losers.

Banking Index Rally Lifts Market Performance… NSE ASI Up 15bps

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The Nigerian bourse staged a comeback today after three consecutive days of sell-off, pulled by bargain hunting in the banking index. Consequently, the NSE ASI advanced 15bps to settle at 26,251.39 and the market capitalization gained N13.52bn to settle at N9.03trillion. The positive performance was on the backdrop of bargain hunting in GUINNESS (1.39%), ZENITHBANK (1.86%), OANDO (3.30%), UCAP (4.86%) and ACCESS (2.28%). Activity level remained strong as Volume and Value traded advanced by 52.66% and 68.10% to settle at 210.21 million and N1.51 billion respectively.
Banking Index Closed a Lone Gainer
Sector performance at the close of trading was broadly bearish as 1 sector closed positive and 4 recorded losses. The Banking Index (0.80%) sustained yesterday’s rally to close a lone gainer as bargain hunting persists in FCMB (4.46%), ACCESS (2.28%) and ZENITHBANK (1.86%). On the flip side, the Insurance index (-0.58%) lost the most on the backdrop of profit taking in NEM (-5.00%) and WAPIC (-3.77%), trailed by the Oil & Gas (-0.56%) and Industrial Goods (-0.06%) indices due to profit taking in MOBIL (-5.00%), CCNN (-4.84%), FO (-0.21%) and DANGCEM (-0.01%). In the same vein, the Consumer Goods index (-0.01%) lost marginally on the backdrop of sell down in CADBURY (-5.00%), LIVESTOCK (-4.55%) and VITAFOAM (-2.02%).
Investor’s Sentiment Turned Negative
Investor sentiment turned negative at the close of trading as the market breadth (A-D Ratio) weakened to settle at 0.8x (vs. 1.1x previously) following price appreciation in 13 stocks against losses recorded in 16 stocks. UCAP (4.86%), FCMB (4.46%) and OANDO (3.30%) were top gainers, while NEM (-5.00%), CADBURY (-5.00%) and MOBIL (-5.00%) were top losers.

Broad Profit Taking in Large Cap Counters Drags Market Performance… NSE ASI Down 46bps

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The Nigerian bourse closed the second consecutive trading day of the year bearish as investors take profit across sectors following bullish rally in the last five trading days of 2017. The market performance was dragged by profit taking in large cap stocks – GUARANTY (-4.58%), WAPCO (-2.32%), FO (-0.74%), ASHAKACEM (-4.91%) and OANDO (-3.80%). Consequently, The NSE ASI declined 46bp to settle at 26,616.89 and the market capitalization shed N41.92bn to settle at N9.12trillion. Activity level was broadly weak as Volume and Value traded waned by 41.66% and 36.50% to settle at 62.08 million and N0.785 billion respectively.
Banking Index Leads The Losers List for the Second Trading Session
The equities market remains broadly bearish for the second consecutive trading day as profit taking persists in most sector indices, save for the Consumer Goods index which closed flat. The Banking index (-1.62) led the losers list for the second trading session as investors take gains GUARANTY (-4.58%), DIAMONDBNK (-4.44%) and ETI (-2.35%), trailed by the Industrial Goods (-1.00%) and Insurance (-59bps) indices on the backdrop of sell down in ASHAKACEM (-2.35%), CCNN (-4.21%), CONTINSURE (-3.03%) and NEM (-2.86%). In the same vein, the Oil & Gas Index lost 46bps on account of profit taking in OANDO (-3.80%) and FO (-0.74%).
Investor’s Sentiment Remains Negative
Investor sentiment improved but still in the negative region as the market breadth (A-D Ratio) settle at 0.8x (vs. 0.7x previously) following price appreciation in 13 stocks against losses recorded in 17 stocks. VITAFOAM (4.96%), LIVESTOCK (4.76%) and UAC-PROP (4.73%) were top gainers, while ASHAKACEM (-4.91%), GUARANTY (-4.58%) and DIAMONDBNK (-4.44%) were top losers.

Bellwether Counters in Consumer Goods Index Close the week Positive… NSE ASI up 34bps

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The Nigerian bourse sustained the bullish trend for the fifth consecutive trading session as the Consumer Goods Index boosted market performance. The NSE ASI rose 34bp to settle at 26,874.62, whilst investors gained N31.47bn as market capitalization lifted to N9.26trillion. Performance in the market was due to bargain hunting in NB (4.22%), GUINNESS (3.81%), UACN (2.44%), UPL (4.43%) and CUSTODYINS (4.01%), whilst activity level measured by volume traded depreciated by 9.53% and value traded appreciated by 77.21% to settle at 106.29 million and N1.55 billion respectively.
Consumer Goods Index Boosts Market performance
Most sector indices closed negative except for the Consumer Goods Index (2.10%) which gained consequent on bargain hunting in NB (4.22%), GUINNESS (3.81%) and HONYFLOUR (0.78%). On the flipside, the Oil & Gas Index (-1.99%) lost the most on account of profit taking in MOBIL (-3.79%) and FO (-9.74%). The Insurance (-0.23%) and Banking (-0.17%) Indices followed suit on as a result of negative sentiments in MANSARD (2.34%), ZENITHBANK (-0.94%) and FBNH (-3.18%), whilst the Industrial goods index (-0.13) lost on the back of sell offs in BETAGLAS (-4.74%) and PORTPAINT (-9.09%).
Investor’s Sentiment Remains Positive
Investors’ sentiment stays positive (A-D Ratio) to settle at 1.4x (vs. 1.3x previously) following price appreciation in 22 stocks against losses recorded in 16 stocks. LAWUNION (8.11%), WEMABANK (8.00%) and NEM (5.00%) were top gainers, while FO (-9.74%), PORTPAINT (-9.09%) and STERLNBANK (-6.17%) were top losers.

Nigerian Equities Market Sustains Bullish Trend… NSE ASI up 35bps

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The Nigerian bourse extended the bullish trend for the fourth consecutive trading session with most sector indices trading northwards. The NSE ASI rose 35bp to settle at 26,782.93, whilst investors gained N32.50bn as market capitalization appreciated to N9.19trillion. Performance in the market was consequent on bargain hunting in TOTAL (4.14%), SEPLAT (2.56%), GUARANTY (5.77%), OKOMUOIL (1.64%) and ASHAKACEM (4.98%), whilst activity level measured by volume and value traded depreciated by 10.53% and 29.64% to settle at 116.89 million and N877.19 million respectively.
Banking Index Boosts Market performance
Most sector indices closed positive except for the Oil & Gas Index (-0.48%) which lost due to profit taking in FO (-9.72%), MOBIL (-0.68%) and OANDO (-0.87%). On the flipside, the Banking Index (2.23%) gained the most consequent on bargain hunting in GUARANTY (5.77%), ZENITHBANK (1.36%) and UBN (3.68%). The Insurance (1.80%) and Consumer Goods (0.07%) Indices followed suit on account of positive sentiments in MANSARD (4.91%), LAWUNION (8.82%) and DANGFLOUR (1.10%), whilst the Industrial goods index stayed flat.
Investor’s Sentiment Remains Optimistic
Investors’ sentiment stays positive (A-D Ratio) to settle at 1.3x (vs. 1.9x previously) following price appreciation in 24 stocks against losses recorded in 19 stocks. NAHCO (8.96%), LAWUNION (8.82%) and AIICO (6.78%) were top gainers, whilst FO (-9.72%), UNITYBNK (-5.00%) and CHAMPION (-4.80%) were top losers.

Nigerian Equities Market Opens the week Green… NSE ASI up 76bps

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The Nigerian bourse opens the week on a positive note as the bullish trend is sustained for the third consecutive session with most sector indices trading northwards. The NSE ASI rose 76bp to settle at 26,688.25, whilst investors gained N69.42bn as market capitalization appreciated to N9.16trillion. Performance in the market was due to bargain hunting in MOBIL (4.29%), NB (3.26%), TOTAL (1.10%), CADBURY (7.98%) and STANBIC (4.96%), whilst activity level measured by volume and value traded depreciated by 12.99% to settle at 130.64 million and N1.23 billion respectively.
Most Sector Indices Trade Northwards
Most sector indices closed positive except for the Industrial Goods Index (-0.02%) which lost consequent on profit taking solely in WAPCO (-0.12%). On the flipside, the Consumer Goods Index (1.49%) gained the most due to bargain hunting in NB (3.26%), CADBURY (7.98%) and INTBREW (3.12%). The Insurance (1.13%) and Oil & Gas (1.01%) Indices followed suit on account of positive sentiments in MANSARD (4.49%), MOBIL (4.29%) and TOTAL (1.10%), whilst the Banking index (0.70%) gained on the back of price appreciation STANBIC (4.96%), UBN (9.79%) and ACCESS (4.92%).
Investor’s Sentiment Stays Positive
Investors’ sentiment remained optimistic (A-D Ratio) to settle at 1.9x (vs. 1.0x previously) following price appreciation in 30 stocks against losses recorded in 16 stocks. UPL (10.03%), UBN (9.79%) and NEM (9.09%) were top gainers, while GUINNESS (-5.10%), ETI (-4.96%) and CUSTODYINS (-4.83%) were top losers.

Nigerian Equities Market Ricochets to Close Positive… NSE ASI up 18bps

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The Nigerian bourse ricocheted to end the three consecutive days of negative trading session as the Oil & Gas Index boosted market performance. The NSE ASI rose 18bp to settle at 26,464.82, whilst investors gained N16.03bn as market capitalization lifted to N9.08trillion. Performance in the market was due to bargain hunting in FO (10.24%), CONOIL (10.20%), BETAGLAS (10.21%), GUINNESS (1.41%) and CCNN (4.75%), whilst activity level measured by volume and value traded depreciated by 55.20% and 86.23% to settle at 188.68 million and N1.39 billion respectively.
FO Tops Gainers List
Most sector indices closed negative save for the Oil & Gas Index (2.46%) which gained the most consequent on bargain hunting in FO (10.24%), CONOIL (10.20%) and OANDO (4.29%). The Industrial Goods Index (-0.22%) followed suit due to positive sentiments in BETAGLAS (10.21%) and CCNN (4.75%). On the flipside, the Insurance (-0.13%) and Banking (-0.12%) indices lost on account of profit taking in WAPIC (-3.85%), AIICO (-1.64%) and GUARANTY (-0.56%), whilst the Consumer Goods Index (-0.03%) lost as a result of sell down pressure in INTBREW (-3.67%), HONYFLOUR (-4.65%) and FLOURMILL (-0.05%).
Investor’s Sentiment Remains Positive
Investors’ sentiment turned positive as market breadth (A-D Ratio) settled at 1.4x (vs. 1.3x previously) following price appreciation in 18 stocks against losses recorded in 13 stocks. FO (10.24%), BETAGLAS (10.21%) and CONOIL (10.21%) were top gainers, while PRESCO (-9.74%), HONYFLOUR (-4.65%) and WAPIC (-3.85%) were top losers.

Oil & Gas Index Dampens Market Performance… NSE ASI down 46bps

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The Nigerian bourse remained in the red zone for the third consecutive trading session as the Oil & Gas index dampened market performance. The NSE ASI fell 46bp to settle at 26,418.11, whilst investors lost N42.14bn as market capitalization dipped to N9.07trillion. Performance in the market was consequent on profit taking in SEPLAT (-5.00%), FO (-9.74%), CAP (-4.99%), BETAGLAS (-5.00%) and UNILEVER (-2.78%), whilst activity level measured by volume and value traded appreciated by 69.35% and 224.74% to settle at 421.18 million and N10.08 billion respectively.
FO Tops Losers List
Most sector indices closed negative except for the Industrial Goods Index (0.59%) which gained due to bargain hunting in WAPCO (2.48%) and CCNN (4.99%). On the flipside, the Oil & Gas Index (-3.71%) sustained losses due to profit taking in SEPLAT (-5.00%), FO (-9.74%) and OANDO (-4.76%). The Banking (-0.49%) and Consumer Goods (-0.26%) indices followed suit on account of negative sentiments in STANBIC (-4.95%), ETI (-4.98%) and DANGSUGAR (-3.80%), whilst the Insurance Index stayed flat.
Investor’s Sentiment Turns Positive
Investors’ sentiment turned positive as market breadth (A-D Ratio) settled at 1.3x (vs. 0.5x previously) following price appreciation in 20 stocks against losses recorded in 16 stocks. GLAXOSMITH (5.00%), NPFMCRFBK (5.00%) and CCNN (4.99%) were top gainers, while FO (-9.74%), BETAGLAS (-5.00%) and SEPLAT (-5.00%) were top losers.

Nigerian Equities Sustains Bearish Momentum… NSE ASI down 17bps

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The Nigerian bourse sustained the bearish momentum for the second consecutive trading session as the Oil & Gas index continued to dampen market performance. The NSE ASI fell 17bp to settle at 26,540.87, whilst investors lost N15.68bn as market capitalization dipped to N9.11trillion. Performance in the market was due to profit taking in FO (-9.74%), TOTAL (-1.04%), UNILEVER (-4.26%), GUARANTY (-1.90%) and OKOMUOIL (-0.52%), whilst activity level measured by volume traded depreciated by 5.40% and Value traded appreciated by 77.55% to settle at 248.71 million and N3.10 billion respectively.
FO Leads Losers List
Most sector indices closed negative save for the Industrial Goods (0.89%) and Insurance (0.44%) Indices which gained consequent on bargain hunting in JBERGER (4.98%), WAPCO (2.56%) and NEM (5.00%). On the flipside, the Oil & Gas Index (-1.84%) lost the most on account of profit taking in FO (-9.74%), TOTAL (-1.04%). The Banking Index (-0.37%) followed suit due to negative sentiments in GUARANTY (-1.90%), UCAP (-4.88%) and FBNH (-1.45%), whilst the Consumer Goods Index (-0.08%) lost on the back of sell-off in UNILEVER (-4.26%) and VITAFOAM (-4.94%).
Investor’s Sentiment Remains Pessimistic
Investors’ sentiment remained pessimistic as market breadth (A-D Ratio) settled at 0.5x (vs. 0.6x previously) following price appreciation in 21 stocks against losses recorded in 40 stocks. NASCON (5.26%), NEM (5.00%) and JBERGER (4.98%) were top gainers, while FO (-9.74%), INTERLINK (-5.00%) and VITAFOAM (-4.94%) were top losers.

Nigerian Equities Market Closes The Week Positive… NSE ASI up 56bps

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The Nigerian bourse sustained the positive opening of the week for the seventh consecutive trading session as the Industrial Goods index boosted market performance. The NSE ASI rose 56bp to settle at 26,707.10, whilst investors gained N50.84bn as market capitalization lifted to N9.17trillion. Performance in the market was due to bargain hunting in DANGCEM (3.02%), ETI (7.98%), CCNN (4.95%), UBN (4.59%) and CUSTODYINS (4.76%), whilst activity level measured by volume and value traded appreciated by 337.20% and 191.79% to settle at 874.33 million and N4.39 billion respectively.
Industrial Goods Index Boosts Market Performance
Mixed performance was observed in most sector Indices. The Industrial Goods (1.63%) and Banking (0.18%) Indices gained consequent on bargain hunting in DANGCEM (3.02%), CCNN (4.95%), ETI (7.98%) and UBN (4.59%). On the flipside, the Oil & Gas Index (-2.24%) and Consumer Goods (-0.83%) lost due to profit taking in FO (-9.74%), MOBIL (-1.43%) and UNILEVER (-9.74%), whilst the Insurance Index stayed flat.
Investor’s Sentiment Turns Negative
Investors’ sentiment turned negative as market breadth (A-D Ratio) settled at 0.7x (vs. 1.6x previously) following price appreciation in 17 stocks against losses recorded in 23 stocks. ETI (7.98%), FIDSON (4.96%) and CCNN (4.95%) were top gainers, while FO (-9.74%), UNILEVER (-9.74%) and PORTPAINT (-9.17%) were top losers.

Market Opens the Week Green due to Bullish Rally in Oil & Gas Index… NSE ASI up 98bps

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The Nigeria bourse opened the week green for the fourth consecutive trading session as the Oil & Gas index continued to boost market performance. The market appreciated 98bps lifted by bargain hunting in most sector indices. Consequently, the All Share Index improved to close at 26,071.16 points and market capitalisation gained N87.01 billion to close at N8.95 trillion. Performance in the market was consequent on bargain hunting in SEPLAT (10.25%), TOTAL (5.00%), FO (0.49%), DANGCEM (1.25%) and GUARANTY (1.97%), whilst activity level measured by volume and value traded appreciated by 247.12% and 47.33% to settle at 376.69 million and N2.41 billion respectively.
SEPLAT and FO Lead Gainers List
Most sector Indices closed positive save for the Insurance (-0.72%) and Consumer Goods (-0.02%) indices which lost due to profit taking in MANSARD (-4.68%), WAPIC (-1.96%), GUINNESS (-2.95%) and 7UP (-0.77%). On the flipside, the Oil & Gas index (6.34%) continued to gain consequent on bargain hunting in SEPLAT (10.25%), TOTAL (5.00%) and FO (10.24%). The Industrial Goods index (0.86%) followed suit on account of price appreciation in DANGCEM (1.25%) and WAPCO (0.46%), whilst the Banking index (0.57%) gained on the back of positive sentiments in GUARANTY (1.97%), ETI (1.81%) and ACCESS (2.04%).
Investor Sentiment Stayed Flat
Investors’ sentiment stayed flat as market breadth (A-D Ratio) settled at 1.6x following price appreciation in 23 stocks against losses recorded in 14 stocks. SEPLAT (10.25%), FO (10.24%) and CHAMPION (9.66%) were top gainers, while AVONCROWN (-5.00%), PORTPAINT (-4.80%) and UBN (-4.70%) were top losers.

Market Closed the Week Positive on Sustained Rally in Oil & Gas Index… NSE ASI Up 31bps

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The Nigeria bourse sustained the positive opening of the week with only one day of negative performance. The market appreciated 31bps driven by broad bargain hunting in most sector indices. Accordingly, the All Share Index improved to close at 25,817.69 points and market capitalisation gained N26.95 billion to close at N8.86 trillion. Performance in the market was driven by bargain hunting in FO (10.23%), NB (2.08%), 7UP (0.49%), ETI (3.54%) and GUARANTY (0.43%), while activity level was mixed as the as volume traded waned by 34.62% to N108.52 million and value traded appreciated by 28.53% to N1.64 billion.

Industrial Goods Index Closed a Lone Loser

Sector performance was broadly bullish save for 1.93% decline in the Industrial Goods index solely on account of profit taking in WAPCO (-5.09%). On the gainers end, the Oil & Gas index rebound 1.23% to reverse yesterday’s decline as the rally in FO (10.23%) mute the price decline in OANDO (10.24%) and SEPLAT (10.24%), while the Consumer Goods index trailed up 84bps on account of price uptick in NEM (4.00%), MANSARD (3.64%) and CUSTODYINS (2.78%). The Consumer Goods index followed suit with 0.83bps appreciation on renewed rally in OKOMUOIL (5.24%) and DANFLOUR (2.70%) while the Banking index (53bps) appreciated for the fourth session due to bargain hunting in ETI (3.54%), DIAMONDBNK (2.41%) and FIDELITYBK (2.38%).

Investor Sentiment Stayed Positive

Investors sentiment stayed positive as the market breadth (A-D Ratio) advanced to settled at 1.6x (vs 1.0x previously) following price appreciation in 22 stocks against losses recorded in 14 stocks. FO (10.23%), OKOMUOIL (5.24%) and LIVESTOCK (4.00%) were top gainers, while WAPCO (-5.09%), PRESCO (-4.99%) and AVONCROWN (-4.76%) were top losers.

Oil & Gas Index Sustains Market Uptrend… NSE ASI up 1bp

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The Nigerian bourse sustains the bullish rally for the fourth consecutive trading session as the Oil & Gas index continues to boost market performance. The NSE ASI rose 1bp to settle at 25,743.03 points, whilst Investors gained N0.76 billion. The uptrend in performance albeit marginal was largely as a result of renewed interest in Oil & Gas stocks – FO (10.24%), TOTAL (10.11%), OANDO (7.80%), DANSUGAR (4.83%) and CADBURY (2.63%). Consequently, YtD loss trimmed to -10.12%, whilst market activity was mixed as Volume traded waned by 69.63% and Value traded advanced by 133.24% to settle at N175.06 million and 3.14 billion respectively.

Oil & Gas Index Tops Gainers Chart

Most sector Indices closed negative save for the Oil & Gas (3.57%) and Consumer Goods Indices (5bps), the rally in the Oil & Gas index was boosted by renewed interest in the downstream counters – FO (10.24%), TOTAL (10.11%), OANDO (7.80%). On the other hand, the Consumer Goods index extended the bullish performance on Friday driven by gains recorded in DANSUGAR (4.83%), CADBURY (2.63%) and CHAMPION (2.56%). On the flipside, the Industrial Goods Index (-1.45%) lost the most on account of sell-off in WAPCO (-9.74%). The Insurance (-1.16%) and Banking (-51bps) Indices followed suit consequent on profit taking in MANSARD (-4.65%), AIICO (-3.39%), WEMABANK (-3.51%) and GUARANTY (-2.09%).

Market Breadth Turns Negative

Investors’ sentiment turned negative as market breadth (A-D Ratio) settled at 0.7x (vs 1.8x previously) following price appreciation in 15 stocks against losses recorded in 23 stocks. FO (10.24%), TOTAL (10.11%) and OANDO (7.80%) were top gainers, while GUINNESS (-9.74%), VITAFOAM (-5.00%) and REDSTAREX (-4.94%) were top losers.

Profit Taking In Bellwether Counters Extends Bearish Trend… NSE ASI down 34bps

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The Nigerian bourse extended the bearish trend for the fourth consecutive trading session albeit most sector indices trading northwards. The NSE ASI fell 34bps to settle at 25,233.42 points, whilst Investors lost N29.20 billion as market capitalization dipped to N8.66tn. The negative performance in the market was due to profit taking in FO (-9.74%), DANGCEM (-1.24%), TRANSCOHOT (-4.90%), DANGSUGAR (-3.23%) and OANDO (-5.00%). Consequently, YtD loss fell to -11.90%, whilst Volume and Value appreciated by 152.72% and 4.94% to settle at N511.58 million and 1.69 billion respectively.

Industrial Goods Index Dampened Market Performance

Most sector Indices closed positive save for the Industrial Goods (0.70%) and Banking (-0.41%) Indices which lost due to profit taking in DANGCEM (-1.24%), CUTIX (-4.55%), ACCESS (-2.71%) and GUARANTY (-0.41%). On the flipside, the Consumer Goods (-0.53%) and Oil & Gas (0.51%) Indices gained on account of bargain hunting in NB (1.41%), INTBREW (1.55%), MOBIL (10.25%) and TOTAL (3.83%), whilst the Insurance Index (0.15%) gained as a result of positive sentiments solely in AIICO (3.51%).

Market Breadth Shows Optimism

Investors’ sentiment improved but remained negative as market breadth (A-D Ratio) settled at 0.7x (vs 0.4x previously) following price appreciation in 13 stocks against losses recorded in 20 stocks. MOBIL (10.25%), UPL (4.87%) and UAC-PROP (4.68%) were top gainers, while FO (-9.74%), OANDO (-5.00%) and TRANSCOHOT (-4.90%) were top losers.
The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments. More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Nigerian Equities Market Opens the Week Bearish… NSE ASI down 6bps

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The Nigerian bourse opened the first trading day of the week bearish with most sector indices traded southwards. The NSE ASI fell 6bps to settle at 25,318.41 points, whilst Investors lost N5.15 billion as market capitalization dipped to N8.69tn. The negative performance in the market was consequent on profit taking in FO (-5.00%), UACN (-5.00%), TOTAL (-0.16%), ZENITHBANK (-2.17%) and STANBIC (-1.43%). Consequently, YtD loss trimmed to -11.60%, whilst Volume appreciated by 40.42% and Value depreciated -24.64% to settle at N202.43 million and 1.62 billion respectively.

Insurance Index Dampened Market Performance
Most sector Indices closed negative save for the Banking Index (0.24%) which gained consequent on bargain hunting in GUARANTY (1.77%), ETI (3.16%) and FIDELITYBK (3.80%). On the flipside, the Insurance Index (-1.10%) lost the most due to profit taking in MANSARD (-4.76%), CUSTODYINS (-0.53%) and NEM (-2.70%). The Oil & Gas (-0.42%) and Consumer Goods (-0.01%) Indices followed suit on account of negative sentiments in FO (-5.00%), TOTAL (-0.16%) and DANGFLOUR (-2.37%), whilst the Industrial Goods Index stayed flat.

Market Breadth Sustains Negativity
Investors’ sentiment remained negative as market breadth (A-D Ratio) settled at 0.4x (vs 0.8x previously) following price appreciation in 8 stocks against losses recorded in 22 stocks. MOBIL (5.00%), ETERNA (4.56%) and FIDSON (4.29%) were top gainers, while FO (-5.00%), UACN (-5.00%) and UAC-PROP (-4.86%) were top losers.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments. More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Extends Losses Following Negative Q3’16 GPD Result… NSE ASI down 17bps

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The Nigerian bourse sustained negative momentum for the eighth consecutive trading session following the announcement of yesterday’s GDP figures (-2.24%). The NSE ASI fell 17bps to settle at 25,262.28 points, whilst Investors lost N14.99 billion as market capitalization fell to N8.75tn. The negative performance in the market was due to profit taking in TOTAL (-5.00%), FO (-9.74%), PZ (-3.34%), NASCON (-4.77%) and UAC-PROP (-4.64%). Consequently, YtD loss dipped to -11.10%, whilst Volume and Value traded appreciated by 7.55% and 38.15% to settle at N120.93 million and 1.19billion respectively.

Oil & Gas Index Drags Down Market Performance

Most sector indices closed negative save for the Banking Index (0.05%) due to bargain hunting solely in GUARANTY (0.29%). On the flip side, the Oil & Gas Index (-2.10%) lost the most of account of profit taking in TOTAL (-5.00%) and FO (-9.74%). The Consumer Goods Index (-0.02%) followed suit consequent on sell off in PZ (-3.34%), DANGSUGAR (-1.62%) and VITAFOAM (-2.45%), whilst the Industrial Goods and Insurance Indices stayed flat.

Market Breadth Remains Negative

Investors’ sentiment remained negative as market breadth (A-D Ratio) settled at 0.6x (vs 0.8x previously) following price appreciation in 11 stocks against losses recorded in 17 stocks. CHAMPION (8.41%), FLOURMILL (5.00%) and AFRIPRUD (4.91%) were top gainers, while FO (-9.74%), TOTAL (-5.00%) and LIVESTOCK (-5.00%) were top losers.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments. More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Nigerian Equities Market Opens the Week Red… NSE ASI down 70bps

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The Nigerian bourse opened the week red to extend Friday’s loss for the second consecutive trading session as the Oil & Gas sector dampened market performance. The NSE ASI fell 70bps to settle at 25,986.81 points, whilst Investors lost N63.23 billion as market capitalization fell to N8.93tn. The negative performance in the market was due to FO (-9.74%), CAP (-4.66%), GUINNESS (-1.11%), PZ (-4.37%) and ZENITHBANK (-4.16%). Consequently, YtD loss dipped to -9.27%, whilst Volume and Value traded depreciated by 92.88% and 57.64% to settle at N160.91 million and 1.11 billion respectively.
FO Tops Losers List
Most sector indices closed negative save for the Insurance Index (0.61%) consequent on bargain hunting in MANSARD (1.63%), and WAPIC (4.00%). On the flip side, the Oil & Gas (-2.40%) and Banking (-2.14%) indices lost on account of profit taking in FO (-9.74%), OANDO (-4.88%), ZENITHBANK (-4.16%) and GUARANTY (-2.23%), whilst the Consumer Goods (-0.31%) and Industrial Goods (-0.17%) Indices lost due to negative sentiments in GUINNESS (-1.11%), PZ (-4.37%), CADBURY (-4.95%) and CAP (-4.66%).
Market Breadth Remains Negative
Investors’ sentiment remained negative as market breadth (A-D Ratio) settled at 0.5x (Vs. 0.9x previously) following price appreciation in 10 stocks against losses recorded in 22 stocks. MAYBAKER (4.71%), WAPIC (4.00%) and LIVESTOCK (2.50%) were top gainers, while FO (-9.74%), HONYFLOUR (-5.00%) and CADBURY (-4.99%) were top losers.
The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.
We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments. More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Halts Six Consecutive Days of Bearish Rally… NSE ASI up 18bps

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The Nigerian bourse took a breather as rising investor confidence in the Banking sector halted the six days of consecutive bearish rally. The NSE ASI was up 18bps to settle at 26,221.75 points, whilst Investors gained N16.51 billion as market capitalization rose to N9.01tn. The positive performance in the market was due to GUARANTY (4.65%), INTBREW (2.79%), ZENITHBANK (3.45%), ACCESS (2.91%) and AIRSERVICE (4.69%). Consequently, YtD loss waned to -8.45%, whilst Volume and Value traded depreciated by 5.80% and 4.32% to settle at N137.64 million and 990.95 million respectively.
Banking Index Boosts Market Performance
Most sector indices closed negative save for the Banking Index (3.08%) on account of bargain hunting in GUARANTY (4.65%), ZENITHBANK (3.45%) and ACCESS (2.91%). On the flip side, the Oil & Gas Index (-3.71%) lost the most consequent on profit taking in TOTAL (-8.19%), FO (-8.50%) and MOBIL (-2.63%). The Consumer Goods (-0.47%) and Insurance (-0.24%) Indices followed suit on due to sell off in NB (-1.05%), CADBURY (-9.64%), NEM (-3.85%) and AIICO (-1.69%) whilst the Industrial Goods Index stayed flat.
Improvement in Market Breadth
Investors’ sentiment Improved but remained negative as the market breadth (A-D Ratio) settled at 0.8x (Vs. 0.4x previously) following price appreciation in 15 stocks against losses recorded in 19 stocks. AIRSERVICE (4.69%), GUARANTY (4.65%) and VITAFOAM (4.60%) were top gainers, while CADBURY (-9.65%), FO (-8.50%) and TOTAL (-8.19%) were top losers.
The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.
We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments. More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Nigerian Equities Market Extends Bearish Rally… NSE ASI down 72bps

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The Nigerian bourse closed negative for the sixth consecutive trading session as the Banking index dampened market performance by 72bps to settle at 26,173.69 points, whilst Investors lost N65.47 billion as market capitalization fell to N8.99tn. The negative performance in the market was due to PZ (-8.39%), FLOURMILL (-5.00%), GLAXOSMITH (-4.76%), GUARANTY (-3.50%) and NB (-0.35%). Consequently, YtD loss fell to -8.62%, whilst Volume and Value traded depreciated by 22.70% and 35.29% to settle at N146.10 million and 1.04billion respectively.
Banking Index Dampens Market Performance
Most sector indices closed negative save for the Industrial Goods (0.10%) and Oil & Gas (0.08%) consequent on bargain hunting in CAP (4.06%) and OANDO (0.95%). On the flip side, the Banking Index (-3.02%) lost the most due to profit taking in GUARANTY (-3.50%), ZENITHBANK (-2.80%) and ACCESS (-4.63%). The Insurance Index (-1.34%) followed on account of sell off in MANSARD (-4.23%), CONTINSURE (-4.90%) and AIRSERVICE (-0.72%), whilst the Consumer Goods Index (-0.39%) lost as a result of negative sentiments in PZ (-8.39%), FLOURMILL (-5.00%) and NB (-0.35%).
Market Breadth Maintains Negative Momentum
Investors’ sentiment stayed negative as the market breadth (A-D Ratio) settled at 0.4x (Vs. 0.5x previously) following price appreciation in 11 stocks against losses recorded in 27 stocks. CAP (4.06%), DANGSUGAR (2.94%) and UPL (2.63%) were top gainers, while PZ (-8.39%), FLOURMILL (-5.00%) and NASCON (-4.90%) were top losers.
The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.
We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments. More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Bearish Start to the Week… NSE ASI down 35bps

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The Nigerian bourse opened the first trading day of the week bearish to extend losses for the fourth consecutive trading session as all sector Indices dampened market performance by 35bps to settle at 26,887.54 points, whilst Investors lost N32.31 billion as market capitalization dipped to N9.24tn. The bearish performance in the market was due to profit taking in UNILEVER (-3.00%), CAP (-4.00%), GUARANTY (-3.15%), CCNN (-5.54%) and MANSARD (-4.55%). Consequently, YtD loss fell to -6.13%, whilst Volume and Value traded depreciated by 24.24% and 4.64% to settle at N115.04 million and 1.15billion respectively.

Banking and Insurance Indices Dampen Market Performance

All sector indices closed negative with the Banking (1.45%) and Insurance (1.43%) indices leading the losers list on account of profit taking in GUARANTY (-3.15%), ACCESS (-1.26%), MANSARD (-4.55%) and AIICO (-4.76%). The Industrial Goods (-0.18%) and Consumer Goods (-0.14%) Indices followed suit due to negative sentiments in CAP (-4.00%), UNILEVER (-3.00%) and DANGSUGAR (-1.29%), whilst the Oil & Gas Index (-0.06%) lost as a result of sell down pressure solely in OANDO (-0.69%).

Market Breadth Remains in the Negative Region

Investors’ sentiment stayed negative as the market breadth (A-D Ratio) settled at 0.6x (Vs. 0.4x previously) following price appreciation in 10 stocks against losses recorded in 18 stocks. ETERNA (9.90%), LIVESTOCK (8.22%) and NPFMCRFBK (4.81%) were top gainers, while CCNN (-5.54%), STERLNBANK (-4.82%) and AIICO (-4.76%) were top losers.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Profit Taking in Industrial Bellwethers Drags Broad Index Lower… NSE ASI Down 66bps

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The Nigerian bourse extended yesterday’s slide as profit taking in most sector Indices dampened market performance by 66bps to settle the broad market index at 27,044.36 points whilst Investors lost N61.39 billion as market capitalization dipped to N9.29tn. Market performance was dragged by profit taking in DANGCEM (-1.47%), NB (-1.48%), ASHAKACEM (-9.71%), ETI (-3.73%) and FO (-0.25%). Consequently, YtD loss stretched to -5.58%, whilst activity level was mixed as Volume traded depreciated by 44.49% to 11.52 million units and Value traded appreciated by 87.38% to N2.36 billion respectively.

ASHAKACEM Emerges Top Loser

Most sector indices closed negative except for the Insurance (0.53%) and Banking (0.12%) indices which gained on account of bargain hunting in MANSARD (2.59%), ZENITHBANK (0.93%) and DIAMONDBNK (3.70%). On the flip side, the Industrial Goods Index (-0.82%) lost the most consequent on profit taking in ASHAKACEM (-9.71%) and DANGCEM (-1.47%). The Consumer Goods index (-0.65%) followed suit due to extend yesterday’s downtrend, due to profit taking in NB (-1.48%) and DANGFLOUR (-1.26%), whilst the Oil & Gas Index (-0.07%) continues to shed gains as a result of negative sentiments in FO (-0.25%) and OANDO (-0.22%).

Market Breadth Back in the Negative Region

Investor sentiment was dragged back to the negative region as the market breadth (A-D Ratio) settled at 0.9x (Vs. 1.2x Previously) following price appreciation in 17 stocks against losses recorded in 20 stocks. HONYFLOUR (7.89%), MAYBAKER (4.76%) and LEARNAFRCA (3.95%), while ASHAKACEM (-11.07%), UPL (-4.88%) and NASCON (-4.87%) were top losers.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Bargain Hunting Lifts Benchmark Index… NSE ASI Up 12bps

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After yesterday’s negative close of the month of October, the Nigerian equities bourse opened the first trading day in November positive with marginal 12bps to close at 27,252.48, thus trimming YtD loss slightly to -4.85%. The benchmark index was lifted by bargain hunting in GUINNESS (2.61%), GUARANTY (1.28%), PZ (1.43%), ZENITHBANK (0.75%) and FBNH (3.33%). Consequently, investors gained N11.13 billion as market capitalization rose to N9.36tn whilst activity level declined as Volume and Value traded waned by 15.02% and 30.10% to settle at 186.86mn units and N1.31 billion respectively.

Banking Sector Drives Market Performance

Most sector indices closed positive save for the Oil & Gas index (0.46%) which lost on account of sell-off in OANDO (-4.86%)  following the release of Its 9M:2016 result, wherein the company reported a Loss after Tax (LAT) of N35.9 billion. On the flipside, the Banking Index (39bps) gained the most due to bargain hunting in GUARANTY (1.28%), ZENITHBANK (0.75%) and FBNH (3.33%). The Insurance (11bps) index extended yesterday’s gains consequent on investors upbeat in CONTINSURE(0.92%) following an impressive 9M’2016 earnings performance. The Consumer Goods index (0.03%) followed suit on the backdrop of gains in GUINNESS (2.61%), PZ (1.43%) and OKOMUOIL (9.18%) whilst the Industrial Goods index closed flat.

Market Breadth Turns Positive

Investor sentiment turned positive as the market breadth (A-D Ratio) settled at 1.1x (Vs. 0.6x Previously) following price appreciation in 17 stocks against losses recorded in 16 stocks. ETERNA (9.96%), OKOMUOIL (9.18%) and REDSTAREX (5.00%) were top gainers, while UAC-PROP (-4.92%), UBN (-4.87%) and OANDO (-4.86%) were top losers.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Profit Taking in WAPCO Drags Broad Market Index… NSE ASI Down 27bps

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The Nigerian bourse lost 27bps at the close of trading to close the broad market index lower at 27,220.09 points and to book the third consecutive week of bearish opening of the week. The performance of the market was dragged by 7UP (-5.00%), WAPCO (-5.00%), CADBURY (-4.78%), FLOURMILL (-2.25%) and GUARANTY (-1.47%). Consequently, WtD and YtD loss extended to -1.29% and -4.97% respectively, whilst activity level improved as volume and value traded rose 48.13% and 73.95% to settle at 219.90m units and N1.88bn respectively.

Mixed Performance Across Sectors

Performance across sectors was mixed as 3 indices advanced while 2 declined. The Industrial Goods index (-1.86%) emerged the top declining sector, largely driven by sell pressure in WAPCO (-5.00%) as a result its unaudited 9M:2016 result released today, wherein Turnover declined 25.11% Y-o-Y to report an operating loss of N2.1bn and Loss before Tax of N40.37bn. Followed by profit taking in in the Banking Index (-0.94%), consequent on profit taking in WAMABANK (-4.92%) and DIAMONDBNK (-4.59%). On the flipside, The Insurance index (1.07%) emerged the top advancing sector following gains in AIICO (8.62%) and CONTINSURE (7.92%) to halt five days of consecutive sell-off in the index. The Oil and Gas (0.45%) and Consumer Goods (0.10%) indices appreciated against the backdrop of gains in DANGFLOUR (8.83%) and TOTAL (4.55%).

Market Breadth Weakens

Investor sentiment improved as the market breadth (A-D Ratio) settled at 0.6x (Vs. 2.2x Previously) following price appreciation in 16 stocks against losses recorded in 29 stocks. LEARNAFRICA (9.38%), DANGFLOUR (8.83%) and AIICO (8.62%) were top gainers, while TRANSCORP (-9.00%), WAPCO (-5.00%) and OANDO (-5.00%) were top losers.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Introduction of the Lead Fixed Income Fund

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We are pleased to inform you that our Mutual  Fund – Lead Fixed Income Fund-(LFIF) opens today, Monday 31st October 2016. Please find below its features:

  • It is an open-ended fix income fund registered with Securities and Exchange Commission (SEC) as a Unit Trust Scheme comprising of Government (both State & Federal), Euro bonds & Corporate bonds, Treasury Bills & other short term instruments.
  • The Offer is open for 5,000,000 units at N100.00 per unit.
  • Minimum investment is NGN50,000 with multiples of NGN10,000 thereafter.
  • Minimum holding period in the fund is 90days from the allotment date.
  • LFIF is designed for all classes of investors seeking an alternative forms of investment which provides a steady flow of income, capital preservation and liquidity.
  • Closure date is Wednesday December 7, 2016

Kindly visit our website www.leadassetmanagementng.com for the abridged prospectus for your review and the offer for subscription form.

For more information, please contact the Customer Service desk at assetmanagement@leadcapitalng.com. Or francis.Iyebutemeh@leadcapitalng.com; lanre.bamitogba@leadcapitalng.com

Regards

Market Sustains Bullish Momentum… NSE ASI Up 43bps

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The Nigerian bourse sustained yesterday’s marginal appreciation to book another 43bps uptrend in the broad market index as bargain hunting in most sector indices lifted market performance to settle at 27,236.78 points whilst Investors gained N39.98 billion as market capitalization rose to N9.36tn. The bullish performance of the market was due to bargain hunting in TOTAL (10.25%), WAPCO (9.23%), UNILEVER (4.14%), CADBURY (9.43%) and DANGCEM (0.48%). Consequently, WtD and YtD loss eased to -1.31% and –4.91% respectively. Market activity was mixed as Volume traded declined by 2.75% and Value traded appreciated by 1.04% to settle at 155.59mn units and N1.76 billion respectively.

Industrial Goods Index Led the Gainers List

Most sector indices closed positive save for the second consecutive day of decline in the Oil & Gas (-0.47%) and Insurance (-0.07%) indices which lost on account of profit taking in FO (-4.90%), SEPLAT (-3.85%) and AIICO (-1.75%). On the flip side, the Industrial Goods Index (3.45%) gained the most due to bargain hunting in WAPCO (9.23%) and DANGCEM (0.48%). The Consumer (0.35%) and Banking (0.08%) indices followed suit consequent on positive sentiments in CADBURY (9.43%), LIVESTOCK (6.41%), ETI (2.77%) and DIAMONDBNK (0.88%).

Market Breadth Turns Negative

Investor sentiment turned negative as the market breadth (A-D Ratio) settled at 0.8x (Vs. 1.0x Previously) following price appreciation in 15 stocks against losses recorded in 18 stocks. TOTAL (10.25%), AIRSERVICE (10.00%) and CADBURY (9.43%) were top gainers, while MAYBAKER (-8.89%), AFRIPUD (-5.00%) and UAC-PROP (-4.99%) were top losers.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Nigerian Equities Market Ricochets, Closes Green… NSE ASI up 8bps

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The Nigerian bourse ricocheted to close positive after three consecutive trading sessions of bearish performance as bargain hunting in most sector Indices lifted market performance by 8bp to settle at 27,120.39 points whilst Investors gained N7.51 billion as market capitalization rose to N9.32tn. The performance of the market was due to bargain hunting in UNILEVER (4.60%), BETAGLAS (1.61%), NB (0.34%), ETRANZACT (10.11%) and DANGSUGAR (4.50%). Consequently, WtD and YtD loss waned to -1.30% and -5.31% respectively, whilst market activity rose as Volume and Value traded appreciated by 42.30% and 41.25% to settle at 159.98mn units and N1.74 billion respectively.

Consumer Goods Index Lifts Market Performance

Most sector indices closed positive save for the Oil & Gas (-0.65%) and Insurance (-0.57%) Indices which lost on account of profit taking in FO (-2.99%), CONTINSURE (-3.00%) and LAWUNION (-4.29%). On the flip side, the Consumer Goods Index (0.51%) gained the most due to bargain hunting in UNILEVER (4.60%), NB (0.34%) and DANGSUGAR (4.50%). The Banking (0.14%) and Industrial Goods (0.04%) indices followed suit consequent on positive sentiments in ZENITHBANK (0.67%), UBA (1.67%), UBN (0.44%) following the release of Its 9M:2016 earnings result whereby Profit after Tax (PAT) appreciated by 40.82% to record a profit of N13.01bn and BETAGLAS (1.61%).

Market Breadth Turns Positive

 Investor sentiment turned positive as the market breadth (A-D Ratio) settled at 1.0x (Vs. 0.4x previously) following price appreciation in 17 stocks against losses recorded in 17 stocks. ETRANZACT (10.11%), LEARNAFRCA (4.92%) and UNILEVER (4.60%) were top gainers, while JBERGER (-5.00%), UACN (-5.00%) and CAPHOTEL (-4.92%) were top losers.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

CONVERSION OF ETI PREFERENCE SHARES TO ORDINARY SHARES

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NOTICE TO ECOBANK TRANSNATIONAL INCORPORATED (ETI) PREFERENCE SHAREHOLDERS

Dear Esteemed Preference Shareholder,

In line with the Terms on Conversion of Preference shares recommended to Oceanic shareholders by the Oceanic Board as were stated in the Scheme of Arrangement documents and approved by Oceanic shareholders “The holders of the Preference shares shall have right, exercisable at any time between the third anniversary of the Issue Date and the fifth anniversary thereof, to convert their Preference Shares into Ordinary Shares in the Company. Each Preference Share, upon conversion, shall convert into 0.76923 Ordinary Share”.

Kindly be informed that you may convert your preference shares up to Monday October 31, 2016. After the said date, you will not be able to convert your Preference shares anymore. If you wish to convert, kindly forward to the Registrars the following:

  1. Your CSCS Clearing House number (CHN)
  2. The Preference Share Certificate
  3. Valid means of Identification.

Please do not hesitate to contact GTL Registrars at 2 Burma Road, Apapa, Lagos, Nigeria, on Tel: +234-01-2793168, 01-2793160-2, +234-81-5959-2960 or send a mail to info@gtlregistrars.com for any clarification you may require.

Thank you.

 

Profit Taking in DANGCEM Dragged Market Performance… NSE ASI down 173bps

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The Nigerian bourse extended yesterday’s slide as profit taking in most sector Indices dampened market performance by 173bp to settle at 27,098.52 points whilst Investors lost N163.69 billion as market capitalization dipped to N9.31tn. The performance of the market was consequent on profit taking in DANGCEM (-4.83%), ASHAKACEM (-9.65%), GLAXOSMITH (-4.75%), FLOURMILL (-3.25%) and INTBREW (-2.76%). Consequently, WtD and YtD loss fell to -1.66% and -5.39% respectively, whilst market activity lifted as Volume and Value traded appreciated by 11.12% and 16.16% to settle at 112.43mn units and N1.23 billion respectively.

ASHAKACEM Emerged as Top Loser

Most sector indices closed negative except for the Oil & Gas Index (0.53%) which gained on account of bargain hunting in MOBIL (2.40%) and SEPLAT (0.93%). On the flipside, the Industrial Goods Index (-2.15%) lost the most consequent on profit taking in DANGCEM (-4.83%), ASHAKACEM (-9.65%) and CCNN (-4.91%). The Banking (-0.71%) and Consumer Goods (-0.24%) indices followed suit due to negative sentiments in ETI (-2.61%), GUARANTY (-0.41), FLOURMILL (-3.25%) and INTBREW (-2.76%), whilst the Insurance Index (-0.07%) lost as a result of negative sentiments solely in WAPIC (-1.96%).

Market Breadth Remains Pessimistic

 Investor sentiment remained negative as the market breadth (A-D Ratio) settled at 0.4x (Vs. 0.6x previously) following price appreciation in 11 stocks against losses recorded in 27 stocks. MOBIL (2.40%), SEPLAT (0.93%) and PRESCO (5.09%) following the release of its 9M:2016 earnings result whereby Profit after Tax (PAT) appreciated by 97.99% to record a profit of N6.80bn were top gainers, while ASHAKACEM (-9.65%), AGLEVENT (-4.94%) and VITAFOAM (-4.92%) were top losers.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Nigerian Equities Market Opens the Week Bearish… NSE ASI down 8bps

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The Nigerian bourse opened the first trading day of the week bearish with most sector Indices trading southward as the NSE ASI dipped by 8bp to settle at 27,575.03 points whilst Investors lost N7.49 billion as market capitalization fell to N9.47tn. The performance of the market was due to profit taking in MOBIL (-2.35%), CADBURY (-9.52%), PZ (-4.75%), UBN (-5.25%) and ETI (-1.68%). Consequently, WtD and YtD loss waned to -0.22% and -3.73% respectively, whilst market activity lifted as Volume and Value traded appreciated by 42.64% and 61.76% to settle at 101.18mn units and N1.06 billion respectively.

Broad Decline in Most Sector Indices

Most sector indices closed negative except for the Industrial Goods Index (0.37%) which gained due to bargain hunting in solely in WAPCO (1.14%). On the flipside, the Oil & Gas Index (-0.59%) lost the most consequent on profit taking in MOBIL (-2.35%) and OANDO (-3.27%). The Insurance (-0.29%) and Banking (-0.25%) indices followed suit due to sell down pressures in NEM (-4.76%) following the release of its 9M:2016 earnings result wherein Profit after Tax (PAT) declined by 40.65% to record a profit of N1.25bn versus N2.10 previously, AIICO (-4.92%), UBN (-5.26%), ETI (-1.68%)  and UBA (-1.41%) whilst the Consumer Goods Index (-0.02%) lost on account of negative sentiments in CADBURY (-9.52%) and PZ (-4.75%).

Market Breadth Turns Negative

 Investor sentiment turned negative as the market breadth (A-D Ratio) settled at 0.6x (Vs. 1.0x previously) following price appreciation in 11 stocks against losses recorded in 19 stocks. CAVERTON (4.65%), VITAFOAM (2.33%) and WAPIC (5.00%) were top gainers, while CADBURY (-9.52%), WEMABANK (-6.15%) following the release of its 9M: 2016 earnings result whereby Profit after Tax (PAT) declined by 2.31% to record a profit of N1.26bn and UBN (-5.26%) were top losers.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Introducing The LeadTrader Professional Trader’s WorkStation (LeadTrader PRO)

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This is to formally introduce The LeadTrader Professional Trader’s WorkStation (LeadTrader PRO), another trading application by Lead Securities and Investment Limited following the renowned LeadTrader application which is on both Web and Mobile.

 

The LeadTrader PRO is an enhanced research & trading application integrated with your CSCS account and designed for use by Traders and Investors who want to trade using deep and sophisticated market data and insight.

 

The LeadTrader PRO key features are as follows;

  • Real-time tracking of quotes & trades.
  • Research – News & Charts.
  • Historical & Real-time Market Data.
  • Customizable blotters.
  • Supports multiple exchanges & boards and ability to view and manage your order books.
  • An expansive list of order types, including Market Orders, Limits, Stops, Stop-Limits, Yield, etc.
  • Advanced trading using Algos such as PAIR, SLICING, VWAP, TWAP, POV & ICEBERG.
  • Provides investors with Level 2 Market Data, as information on total Stock bids & offers along with technical analysis tools are fully displayed on the Dash board.
  • Ability to trade directly from live charts.

 

With the LeadTrader PRO, the power is in your hands. You have access to all the technical tools you need to make smarter decisions while viewing the market in real time. The good part is that you are not required to have any programming or software development knowledge, just the general usage of a personal computer with a minimum RAM size of 1GB and good Internet.

 

Be in the know and take the lead with LeadTrader PRO.

 

For more information, please contact the Customer Service desk at customerservice@leadcapitalng.com.

 

Thank you.

Nigerian Equities Market Remains in the Red Zone… NSE ASI down 28bps

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The Nigerian bourse maintains bearish momentum for the third consecutive trading session as profit taking in most sector Indices dampened market performance by 28bps to settle at 27,478.04 points, whilst Investors lost N26.54bn as market capitalization dipped to N9.44tn. Consequently, WtD and YtD loss fell to -1.96% and -4.06% respectively. The bearish movement in the market was due to profit taking in TOTAL (-4.60%), FO (-7.67%), ASHAKACEM (-9.71%), INTBREW (-4.95%) and GLAXOSMITH (5.00%). Market activity was pessimistic as Volume and Value traded depreciated by -46.85% and -63.36% to settle at 81.91mn units and N592.52mn respectively.

Oil & Gas Index Dampens Market Performance

Most sector Indices closed negative except for the Industrial Goods Index (0.28%) which again remains the sole gainer on account of bargain hunting in CAP (1.50%) and WAPCO (0.70%). On the flip side, the Oil & Gas (-2.78%) index lost the most consequent on profit taking in TOTAL (-4.60%), FO (-7.67%) and OANDO (-1.37%). The Insurance (-0.40%) and Consumer Goods (-0.19%) indices followed suit due to negative sentiments in CUSTODYINS (-5.00%), MANSARD (-1.67%), INTBREW (-4.95%) and CADBURY (-2.33%) whilst the Banking Index (-0.12%) lost as a result of sell down pressure in ZENITHBANK (-0.41%), GUARANTY (-0.21%) and FCMB (-2.68%).

Market Breadth Remains Pessimistic

 Investor sentiment improved but remained negative as the market breadth (A-D Ratio) settled at 0.6x (Vs. 0.5x previously) following price appreciation in 12 stocks against losses recorded in 20 stocks. CAVERTON (3.95%), STANBIC (3.03%) and WAPIC (2.00%) were top gainers, while ASHAKACEM (-9.71%), FO (-7.67%) and GLAXOSMITH (-5.00%) were top losers.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Bearish Start to the Week… NSE ASI Down 81bps

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The Nigerian bourse opened the first trading day of the week bearish as profit taking in most counters dampened market performance by 0.81% to settle at 27,634.99 points, whilst Investors lost N77.65bn as market capitalization waned to N9.49tn. Consequently, WtD and YtD loss extended to -1.04% and -3.52% respectively. The softened performance was dictated by sell-offs in FO (-5.00%), SEPLAT (-1.52%), NB (-3.13%), GLAXOSMITH (-4.95%) and CADBURY (-4.98%). Market activity was mixed as Volume traded appreciated by 15.83% and Value traded waned by 49.25% to settle at 255.81mn units and N778.44mn respectively.

Broad Decline in Most Indices, Insurance Index Closed a Lone Gainer

Market performance was broadly bearish as most indices closed southwards save for marginal price appreciation in WAPIC, which lifted the Insurance index (9bps) to close a lone gainer. On the flip side, the Oil & Gas (-2.08%) and Consumer Goods (-1.55%) indices closed lower consequent on extended sell-offs in FO (-5.00%), OANDO (-3.20%), CADBURY (-4.98%)  and GLAXOSMITH (-4.95%). The Banking (-0.94%) and Industrial Goods (-0.10%) indices followed suit as a result of profit taking in ETI (-3.05%), FBNH (-2.32%) and WAPCO (-0.31%).

Market Breadth Retreats to the Negative Region

Investor sentiment turned negative as the market breadth (A-D Ratio) settled at 0.3x (Vs. 1.5x Previously) following price appreciation in 7 stocks against losses recorded in 24 stocks. WEMABANK (6.45%), WAPIC(4.00%) and FCMB (2.70%) were top gainers, while NAHCO (-7.58%), FO (-5.00%) and CADBURY (-4.98%) were top losers.

Bargain Hunting in the Banking Sector Index Drives Broad Index Higher… NSE ASI Up 2bps

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After two days of consecutive profit taking, the Nigerian bourse closed the last trading day of the week positive, albeit marginal as bargain hunting in most indices outweighed profit taking lifting the NSE ASI by 2bps. The performance turnaround is on the back of price appreciation in 7UP (3.50%), GUINNESS (3.67%), GUARANTY (2.80%), OANDO (2.91%) and MRS (0.25%), to settle the broad market index at 27,861.03 points, whilst Investors gained N2.15bn as market capitalization increased to N9.57tn. Consequently, WtD (7bps) turned positive and YtD (-2.73%) eased, however, market activity declined as Volume traded and Value traded waned 42.00% and 16.36% to settle at 220.85mn units and N1.53bn respectively.

Mixed Performance Across Sector Indices

Market performance was broadly bullish as most indices closed northwards save for the extended sell-offs in WAPCO (-6.80%)  and FO (-4.53%) which dampened the Industrial Goods (-2.32%) and Oil & Gas Indices (-89bps) respectively. On the flip side, the Banking index (1.10%) led the gainers list as investors take positions in GUARANTY (2.80%) and FIDELITYBK (4.65%). The Consumer Goods index (10bps) followed suit due to gains in GUINNESS (3.67%) and 7UP  (3.50%) whilst price appreciation in AIICO (1.67%) advanced the Insurance index (7bps).

Market Breadth Turns Positive

Investor sentiment turned positive as the market breadth (A-D Ratio) settled at 1.5x (Vs. 0.4x Previously) following price appreciation in 20 stocks against losses recorded in 13 stocks. TRANSEXPR (6.67%), FIDELITYBK (4.65%) and NPFMCRFBK (4.00%) were top gainers, while WAPCO (-6.80%), CADBURY (-4.97%) and SCOA (-4.80%) were top losers.

Market Extends Downtrend as Profit Taking Outweigh Bargain Hunting… NSE ASI Down 62bps

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The Nigerian bourse extended yesterday’s marginal slide as profit taking in most indices outweighed bargain hunting sliding the NSE ASI by 62bps. The bearish performance is on the back of broad price downturn in most sector bellwethers; FO (-4.82%), 7UP (-2.22%), WAPCO (-2.58%), GUARANTY (-4.75%) and PZ (-3.43%), to settle the broad market index at 27,854.78 points, whilst Investors lost N59.34bn as market capitalization dipped to N9.57tn. Consequently, WtD (-63bps) and YtD (-2.75%) performance went further southward, on the other hand, market activity improved as Volume traded and Value traded jumped 144.73% and 27.96% to settle at 380.76mn units and N1.83bn respectively.

Consumer Goods Index Stood a Lone Gainer

Market performance was broadly bearish as most indices closed southwards save for the Consumer Goods Index (33bps) consequent on bargain hunting in DANGSUGAR (2.85%) and CHAMPION (2.75%). On the flip side, the Banking (-2.13%) and Oil & Gas (-1.31%) index took a deeper cut on account of profit taking in GUARANTY (-4.72%) and FO (-4.82%) following a significant slide in PAT of 34.73% YoY in the oil marketers 9’M result released today, however, revenue was up 32.16% YoY. The Industrial index (93bps) followed suit as sell-off persists in CCNN (-3.51%) and WAPCO (-2.58%) whilst price downtrend in WAPIC (4.00%) dampened the Insurance index (34bps).

Market Breadth Wanes Further

Investor sentiment waned further as the market breadth (A-D Ratio) settled at 0.4x (Vs. 0.7x Previously) following price appreciation in 11 stocks against losses recorded in 27 stocks. DIAMONDBNK (4.99%), NAHCO (4.10%) and DANGSUGAR (2.85%) were top gainers, while ETRANZACT (-4.99%), BOCGAS (-4.86%) and FO (-4.82%) were top losers.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Halts Two Consecutive Days of Bullish Rally… NSE ASI Up 39bps

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The Nigerian bourse took a breather as flailing investor confidence in the Industrial and Consumer Goods counters dampened two days of consecutive bullish rally, albeit marginally. The NSEASI shed  3bps on the back of profit taking in NESTLE (-2.36%), WAPCO (-2.66%), PRESCO (-3.01%), FLOURMILL (-3.14%) and DANGSUGAR (-2.77%) to settle the broad market index at 28,027.23 points, whilst Investors lost N2.44bn as market capitalization dipped to N9.63tn. Consequently, WtD (-2bps) performance turned negative and YtD loss rose to -2.15%, and market activity weakened as Volume traded and Value traded declined 33.57% and 47.30% to settle at 155.58mn units and N1.43bn respectively.

Mixed Performance Across Sector Indices

Market performance was mixed as most indices closed northwards save for the Industrial Goods (-94bps) and Consumer Goods (-57bps) indices consequent on profit taking in WAPCO (-2.66%) and FLOURMILL (-3.14%) respectively. On the flipside, the Oil and Gas index led the gainers list for the second consecutive trading session as bargain hunting persists in SEPLAT (5.00) and TOTAL (87bps) to mute the sell-off in OANDO (-2.44%). The Banking (1.02%) and Insurance (2bps) indices followed suit on account of investor enthusiasm in UBA (3.11%) and price appreciation in WAPIC (4.00%).

Market Breadth Negative

Investor sentiment stayed frail but with improvement as the market breadth (A-D Ratio) settled at 0.7x (Vs. 0.6x Previously) following price appreciation in 13 stocks against losses recorded in 20 stocks. CAVERTON (8.57%), SEPLAT (5.00%) and GUINNESS (4.92%) were top gainers, while UAC-PROP (-9.37%), ETRANZACT (-4.92%) and LEARNAFRCA (-4.76%) were top losers.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Sustains Uptrend… NSE ASI Up 39bps

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The Nigerian bourse sustained yesterday’s positive opening of the week to book another 39bps appreciation of the broad market index as strategic positioning by investors persists amidst a likely macroeconomic relieve as global oil prices stays above $50 per barrel. Today’s performance was buoyed by bargain hunting in NESTLE (3.13%), SEPLAT (5.00%), PRESCO (3.23%), ZENITHBANK (3.37%) and DANGSUGAR (2.36%) to settle the NSEASI at 28,034.32 points, while Investors gained N37.43bn as market capitalization improved to N9.63tn. Consequently, WtD performance turned positive to close  9bps and YtD loss eased to -2.12%, and Market activity improved as Volume traded and Value traded advanced 36.58% and 57.15% to settle at 234.19mn units and N2.72bn respectively.

Oil & Gas Index Led the Gainers List

Market performance was bullish with most indices trending northwards save for the Industrial Goods (66bps) and Insurance (32bps) indices consequent on profit taking in WAPCO (-1.86%) and AIICO (-4.62%) respectively. On the flipside, the Oil and Gas index led the gainers list following improved interest in SEPLAT (5.00) as global crude oil prices uptick. With UBA kicking of the third quarter with an impressive corporate release today, the Banking index (1.02%) appreciated for the second consecutive session as bargain hunting persists in  ZENITHBANK (3.37%), ACCESS (2.21%) and UBA (1.95%), while the Consumer Goods (0.14%) index followed suit on account of price appreciation in NESTLE (3.13%) and DANGSUGAR (2.36%).

Market Breadth Stays Frail

Investor sentiment weakened further as the market breadth (A-D Ratio) settled at 0.6x (Vs. 0.7x Previously) following price appreciation in 13 stocks against losses recorded in 21 stocks. SEPLAT (5.00%), VITAFOAM (4.91%) and LIVESTOCK (4.88%) were top gainers, while FIDSON (-4.82%), GUINNESS (-4.80%) and NEIMETH (-4.65%) were top losers.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Open the Week Bullish… NSE ASI Up 32bps

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The Nigerian bourse opened the first trading day of the week bullish as strategic positioning by investors ahead of Q3’2016 corporate releases in Banking, Industrial Goods and Consumer Goods counters lifted the NSE ASI by 0.32% to settle at 27,925.35 points, while Investors gained N30.96bn as market capitalization appreciated to N9.59tn. Consequently, WtD eased to -1.25% and YtD loss lowered to -2.50%. The positive performance was dictated by bargain hunting in NB (1.52%), LAFARGE (3.81%), GUARANTY (1.92%), ZENITHBANK (2.25%) and UBN (5.00%). Market activity was mixed as Volume traded waned 14.63% and Value traded appreciated by 87.77% to settle at 171.46mn units and N1.73bn respectively.

Mixed Performance Across Sector Indices

Most sector Indices closed positive save for the profit taking in MOBIL (3.51%) and NEM (3.53%), which dampened the Oil & Gas (-0.51%) and Insurance (-0.16%) indices respectively. On the flipside, the Banking Index (1.30%) led the gainers list as bargain hunting resurfaced in  ZENITHBANK (2.25%) and GUARANTY (1.92%), while the Industrial Goods (1.27%) and Consumer Goods (0.14%) indices followed suit on account of price appreciation in WAPCO (3.81%) and NB (1.52%).

Market Breadth Weakens Further

Investor sentiment weakened at the close of trading  as market breadth (A-D Ratio) settled at 0.7x (Vs. 0.8x Previously) following price appreciation in 17 stocks against losses recorded in 23 stocks. CAVERTON (8.96%), UBN (5.00%) and  WAPCO (3.81%) were top gainers, while GUINNESS (-9.75%), DIAMONDBNK (-5.51%) and CCNN (-45.00%) were top losers.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Nigerian Equities Market Ricochets to Close the Week Bearish… NSE ASI Down 70bp

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The Nigerian bourse closed the week bearish to offset yesterday’s bullish performance with most sector Indices trending southwards, as profit taking in the Industrial Goods dampened market performance to lower the NSE ASI  by 70bp to settle at 27,835.22 points, while Investors lost N67.56bn as market capitalization dipped to N9.56tn. Consequently, WtD fell to -1.77% and YtD loss lowered to -2.82%. The bearish movement in the market was on account of profit taking in NESTLE (-1.84%), GUINNESS (-9.74%), WAPCO (-4.84%), ZENITHBANK (-4.82%) and GUARANTY (-1.72%). Market activity as measured by Volume and Value traded depreciated by 42.42% and 65.16% to settle at 200.84mn units and N921.57mn respectively.

Industrial Goods Index Dampens Market Performance

Most sector Indices closed negative except for the Insurance (0.36%) and Oil & Gas (0.15%) Indices due to bargain hunting in NEM (4.94%), AIICO (3.17%) and OANDO (1.50%). On the flipside, the Industrial Goods Index (-1.74%) lost the most consequent on losses recorded solely in WAPCO (-4.84%). The Banking Index (-1.66%) followed suit on account of profit taking in ZENITHBANK (-4.82%), GUARANTY (-1.76%) and FIDELITYBK (-1.05%), while the Consumer Goods Index (-1.08%) lost as a result of sell-offs in NESTLE (-1.84%), GUINNESS (-9.74%) and NB (-0.12%).

Market Breadth Closed Negative

Investors’ sentiment remained negative as market breadth (A-D Ratio) settled at 0.8x (Vs. 0.9x previously) following price appreciation in 13 stocks against losses recorded in 15 stocks. UBN (5.03%), NEM (4.94%) and AFRIPRUD (4.81%) were top gainers, while GUINNESS (-9.74%), CAPHOTEL (-4.91%) and WAPCO (-4.84%) were top losers.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Bargain Hunting in Consumer Goods Index Closes Equities Market Marginally Higher… NSE ASI Up 8bp

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The Nigerian bourse ricocheted after two days of consecutive decline to close marginally higher, as bargain hunting in the Consumer Goods index lifted market performance to advance the NSE ASI by 8bp to settle at 28,277.93 points, while Investors gained N7.73bn as market capitalization lifted to N9.63tn. Consequently, WtD waned to -0.76% and YtD loss trimmed to -2.13%. The bullish rally in the market was due to bargain hunting in 7UP (8.37%), SEPLAT (1.01%), CONOIL (8.79%), DANGCEM (1.10%) and FO (0.88%). Market activity as measured by Volume and Value traded appreciated by 86.37% and 79.63% to settle at 348.80mn units and N2.65bn respectively.

7UP Drove Consumer Goods Index

Most sector Indices closed negative except for the Consumer Goods Index (0.41%) which emerged the sole gainer consequent on bargain hunting in 7UP (8.37%), FLOURMILL (4.99%), NB (0.12%) and DANGFLOUR (0.52%). On the flipside, the Industrial Goods Index (-3.07%) lost the most due to profit taking in WAPCO (-9.49%), ASHAKACEM (-7.62%) and CUTIX (-4.69%). The Insurance (-0.44%) and Banking (-0.28%) Indices followed suit as a result of negative sentiments in CONTINSURE (-4.76%), AIICO (-1.56%), ETI (-2.28%) and GUARANTY (-1.00%), while the Oil & Gas Index (-0.09%) lost on back of sell-off in TOTAL (-2.71%) and OANDO (-5.00%).

Market Breadth Remained Flat

Investors’ sentiment stayed flat as market breadth (A-D Ratio) settled at 0.9x following price appreciation in 20 stocks against losses recorded in 23 stocks. CONOIL (8.79%), 7UP (8.37%) and FLOURMILL (4.99%) were top gainers, while WAPCO (-9.49%), ASHAKACEM (-7.62%) and OANDO (-5.00%) were top losers.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Profit Taking in Bellwether Counters Sustains Bearish Momentum… NSE ASI down 95bp

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The Nigerian bourse sustained yesterday’s bearish drive as profit taking in most indices dragged the benchmark index lower by 95bp to settle at 28,009.40 points, while Investors lost N92.25bn as market capitalization dipped to N9.62tn. Consequently, WtD depreciated to -0.80% and YtD loss fell to -2.21%. The bearish rally of the market was on account of profit taking in FO (-4.46%), PZ (-9.71%), DANGCEM (-1.09%), UNILEVER (-2.34%) and FLOURMILL (-4.98%). Market activity was mixed as Volume traded depreciated by 5.53% and Value traded appreciated by 11.79% to settle at 187.16mn units and N1.47bn respectively.

Broad Based Sell Down in Most Indices

Most sector Indices closed negative except for the Insurance Index (0.07%) which was driven by price appreciation solely in AIICO (1.59%). On the flipside, the Banking Index (-2.34%) lost the most on account of profit taking in GUARANTY (-3.56%), ZENITHBANK (-3.66%), ETI (-0.87%) and ACCESS (-0.92%). The Oil & Gas (-1.03%) and Industrial Goods (-0.59%) Indices Followed suit, dragged by sell-offs in FO (-4.46%), CONOIL (-0.30%) and DANGCEM (-1.09%), while the Consumer Goods Index (-0.38%) lost on back of sell down pressures in PZ (-9.71%) after releasing Its Q1 financial results- reflecting a PAT loss of N1.6bn, UNILEVER (-2.34%), FLOURMILL (-4.98%) and DANGFLOUR (-4.67%).

Market Breadth Remained Negative

Investors’ sentiment improved but remained negative as market breadth (A-D Ratio) settled at 0.9x (Vs. 0.6x previously) following price appreciation in 20 stocks against losses recorded in 22 stocks. FCMB (6.31%), DIAMONDBNK (5.00%) and OKOMUOIL (5.00%) were top gainers, while PZ (-9.71%), CAVERTON (-8.57%) and FLOURMILL (-4.98%) were top losers.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Nigerian Equities Market Opens Trading Week Red… NSE ASI down 18bp

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The Nigerian equities bourse opened the trading week on a negative note to end the two days of consecutive rally as profit taking in the Consumer Goods index dragged the NSE ASI lower by 18bp to settle at 28,283.99 points, while Investors lost N17.66bn as market capitalization declined to N9.71tn. Consequently, WtD appreciated to 0.07% and YtD loss dipped to -1.25%. The bearish movement of the market was consequent on profit taking in NESTLE (-1.21%), NB (-2.77%), FLOURMILL (-3.74%), ETRANZACT (-4.85%) and UBA (-4.52%). Market activity as measured by Volume and Value traded depreciated by -9.05% and -44.76% to settle at 198.10mn units and N1.32bn respectively.

Consumer Goods Index Dampens Market Performance

Most sector Indices closed positive except for the Consumer Goods Index (-1.66%) which lost the most due to profit taking in  NESTLE (-1.21%), NB (-2.77%) and DANGSUGAR (-2.31%). The Insurance Index (-0.07%) followed suit consequent on negative sentiments solely in NEM (-4.88%). On the flipside, the Banking (1.40%) and Oil & Gas (0.13%) Indices gained due to bargain hunting in GUARANTY (4.13%), ZENITHBANK (2.37%), FCMB (3.74%) and OANDO (1.30%), while the Industrial Goods Index stayed flat.

Market Breadth Closed Negative

Investors’ sentiment remained negative as market breadth (A-D Ratio) settled at 0.6x (Vs. 0.7x previously) following price appreciation in 11 stocks against losses recorded in 17 stocks. CHAMPION (5.58%), LIVESTOCK (4.65%) and GUARANTY (4.13%) were top gainers, while CAVERTON (-7.89%), WEMABANK (-6.94%) and NEM (-4.88%) were top losers.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Nigerian Equities Market Sustains Bullish Momentum, Closes the Week Green… NSE ASI Up 31bp

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The Nigerian equities bourse closed the week positive to extend the bullish trend for the second consecutive trading session as bargain hunting in the Consumer Goods index lifted market performance to lift the NSE ASI up by 31bp to settle at 28,335.40 points. The performance of the market was due to bargain hunting in NB (3.14%), FO (2.41%), TOTAL (1.34%), DANGCEM (0.55%) and GUINNESS (1.02%). Consequently, Investors gained N30.17bn as market capitalization increased to N9.73tn, while WtD appreciated to 0.31% and YtD loss waned to -1.07%. Market activity as measured by Volume and Value traded appreciated by 27.84% and 29.86% to settle at 217.81mn units and N2.38bn respectively.

Consumer Goods Index Lifts Market Performance

Most sector indices closed positive except for the Banking (-1.31%) and Insurance (-0.78%) indices consequent on profit taking in ZENITHBANK (-3.12%), GUARANTY (-1.40%), STANBIC (-1.62%), MANSARD (-2.44%) and CUSTODYINS (-0.99%). On the flip side, the Consumer Goods Index (1.46%) gained the most on account of bargain hunting in NB (3.14%), GUINNESS (1.02%) and DANGFLOUR (2.01%), while the Oil & Gas (0.80%) and Industrial goods (0.25%) Indices followed suit due to positive sentiments in FO (2.41%), TOTAL (1.34%), OANDO (2.86%) and DANGCEM (0.55%).

Market Breadth Closed Negative

 Investor sentiment turned negative as market breadth (A-D Ratio) settled at 0.7x (Vs. 1.4x previously) following price appreciation in 16 stocks against losses recorded in 22 stocks. PHARMDEKO (9.36%), NAHCO (4.85%) and HONYFLOUR (4.51%) were top gainers, while CAVERTON (-8.43%), NNFM (-4.91%) and NEIMETH (-4.26%) were top losers.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Bargain Hunting in the Oil & Gas Index Close Equities Market Marginally Higher… NSE ASI Up 4bp

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The Nigerian bourse ricocheted after two days of consecutive decline to close marginally higher, as bargain hunting in the Oil & Gas index lifted market performance to advance the NSE ASI  by 4bp to settle at 28,247.56 points. The turn in market  mood was due to renewed interest in SEPLAT (5.00%), NESTLE (1.20%), MOBIL (3.44%), FO (1.24%) and CONOIL (4.72%). Consequently, Investors gained N3.89bn as market capitalization improved to N9.70tn, while WtD appreciated to 0.29% and YtD loss trimmed to -1.38%. Market activity as measured by Volume and Value traded appreciated by 7.12% and 26.24% to settle at 170.37mn units and N1.84bn respectively.

Sell-Off in the Banking Index Persists

The index performance at the close of trading was mixed. The Oil & Gas (3.07%) index traded northwards due to bargain hunting in OANDO (6.92%) and SEPLAT (5.00%). Followed by the Insurance index (0.82%) as positive sentiment persists in the index for the fourth consecutive trading session on account of renewed interest in LAWUNION (8.96%) and CONTINSURE (5.00%). On the flip side, the Banking Index (-0.66) closed southwards for the second consecutive trading session as profit taking persist in FIDELITYBK (-3.33%) and GUARANTY (-2.25%). The Consumer Goods index (-0.04%) followed suit on account of sell down in GLAXOSMITH (-4.39%) and VITAFOAM (-4.01%), while the Industrial Goods index closed flat.

Market Breadth Closed Positive

Investor sentiment improved as market breadth (A-D Ratio) closed positive at 1.4x following price appreciation in 25 stocks against losses recorded in 18 stocks. WEMABANK (9,09%), LAWUNION (8.96%) and OANDO (6.92%) were top gainers, while ASHAKACEM (-4.96%), GLAXOSMITH (-4.39%) and FIDSON (-4.19%) were top losers.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Nigerian Equities Market Sustains Bearish Momentum… NSE ASI Down 4bp

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The Nigerian equities bourse closed the trading day bearish, as sell-down pressure in the Industrial goods index dampened market performance to close the NSE ASI lower by 4bp to settle at 28,236.23 points. The negative performance, was due to profit taking in NESTLE (-1.31%), TOTAL (-2.75%), BETAGLAS (-4.63%), WAPCO (-2.02%) and PRESCO (-2.44%). Consequently, Investors lost N4.34bn as market capitalization declined to N9.69tn, while WtD waned to -0.08% and YtD loss dipped to -1.42%. Market activity as measured by Volume traded depreciated by 46.07% and Value traded appreciated by 2.95% to settle at 159.05mn units and N1.50bn respectively.

Industrial Goods Dragged Down Market Performance

Most sector Indices closed negative except for the Consumer Goods (0.30%) and Insurance (0.28%) Indices which gained on account of bargain hunting in NB (1.36%), DANGSUGAR (1.56%), LAWUNION (9.84%) and AIICO (3.28%). On the flip side, the Industrial goods index (-1.01%) led the losers list due to profit taking in BETAGLAS (-4.63%), WAPCO (-2.02%) and ASHAKACEM (-4.99%). Followed by the Oil & Gas (-0.38%) and Banking (-0.07%) Indices consequent on negative investor sentiments in TOTAL (-2.75%), OANDO (-7.71%), UBN (-2.44%) and GUARANTY (-0.36%).

Investor’s Sentiment Remains Pessimistic

Investors’ sentiment stayed flat as market breadth (A-D Ratio) settled at 0.9x following price appreciation in 22 stocks against losses recorded in 23 stocks. LAUNION (9.84%), LEARNAFRCA (8.62%) and MOBIL (5.00%) were top gainers, while OANDO (-7.71%), ASHAKACEM (-4.99%) and BETAGLAS (-4.63%) were top losers.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Sell-off in Oil & Gas Index Dampened Market Performance… NSE ASI Down 5bp

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The Nigerian equities market closed the second trading day positive, albeit marginally as sell-offs in the Oil & Gas index dampened market performance to close the broad market index lower by 6bp to settle at 28,248.86 points. The decline in market activity was dictated by profit taking in PRESCO (-8.89%), CONOIL (-7.69%), 7UP (-1.42%), ASHAKACEM (-9.67%) and FO (-0.53%). Consequently, Investors lost N4.91bn as market capitalization declined to N9.70tn, while WtD trimmed to 0.14% and YtD loss settled at -1.37%. Market activity was mixed as Volume traded appreciated by 18.07% and Value traded depreciated by 27.90% to settle at 294.91mn units and N1.41bn respectively.

Oil & Gas Index Closed a Lone Loser

Most sector Indices closed positive save for the Oil & Gas index (-99bp), the index closed negative for the second consecutive trading session as profit taking persist in CONOIL (-7.69%), OANDO (-4.83%) and FO (-53bp). On the flip side, the Insurance index (+23bp) led the gainers list on account of price appreciation in LAWUNION (7.02%), CONTINSURE (3.06%) and CUSTODYNS (1.00%). Followed by the Consumer Goods index (34bp) and Banking index (11bp) consequent on bargain hunting in GUINNESS (4.99%), FLOURMILL (4.56%), WEMABANK (4.55%) and UNITYBNK (4.29%), while the Industrial Goods index closed broadly flat.

Investor’s Sentiment Remained Negative

 

Investors’ sentiment improved but remained negative as market breadth (A-D Ratio) settled at 0.9x (Vs. 0.7x previously) following price appreciation in 18 stocks against losses recorded in 20 stocks. UAC-PROP (10.00%), LAWUNION (7.02%) and GUINNESS (4.99%) were top gainers, while ASHAKACEM (-9.67%), PRESCO (-8.89%) and CAVERTON (-8.42%) were top losers.

Late Rally in the Banking Index Sustained Bullish Momentum… NSE ASI Up 2bp

No Comments

The Nigerian equities bourse closed positive to extend yesterday’s bullish momentum, with most sector indices trading northward. The performance of the bourse was due to bargain hunting in CONOIL (10.11%), MRS (3.69%), TOTAL (0.37%), PZ (4.98%) and CADBURY (3.87%). Consequently, the NSE ASI appreciated by 2bp to settle at 28,214.57 points and Investors gained N127.08bn as market capitalization appreciated to N9.69tn, while WtD appreciated to 2.07% and YtD loss trimmed to -1.49%. Market activity as measured by Volume traded depreciated by -2.75% and Value traded appreciated by 20.44% to settle at 225.10mn units and N2.99bn respectively.

Oil & Gas Index Boosts Market Performance

Most sector Indices closed positive except for the Consumer Goods (-0.62%) and Industrial Goods (-0.09%) Indices which lost consequent on profit taking in GUINNESS (-7.00%) following the report of a loss after tax of N2.02bn in the company’s FY’2016 report released yesterday, NB (-0.91%), WAPCO (-0.21%) and PAINTCOM (-4.04%). On the flipside, the Oil & Gas Index (1.07%) gained the most on account of bargain hunting in CONOIL (10.11%), MRS (3.69%), TOTAL (0.37%) and OANDO (4.87%). In the same vein, the Banking (0.40%) and Insurance (0.21%) Indices gained due to positive sentiments in STANBIC (2.80%), ZENITHBANK (2.74%), CUSTODYINS (1.27%) and CONTINSURE (2.02%).

Investor’s Sentiment Closed Positive

Investors’ sentiment closed positive as market breadth (A-D Ratio) settled at 1.7x (Vs. 1.1x previously) following price appreciation in 22 stocks against losses recorded in 13 stocks. CONOIL (10.11%) remains the top gainer for the seventh consecutive trading session, followed by PZ (4.98%) and OANDO (4.87%), while NEIMETH (-9.26%), GUINNESS (-7.00%) and EXTRAZACT (-5.00%) were top losers.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Cheers as MPC Maintains Status Quo… NSE ASI Up 133bp

No Comments

In anticipation of the outcome of the Monetary Policy Committee meeting, market activity strengthened as investors took position in bellwether counters in most indices. The performance of the bourse was consequent on bargain hunting in DANGCEM (3.85%), TOTAL (2.48%), CONOIL (10.23%), STANBIC (3.55%) and OANDO (4.91%). Consequently, the NSE ASI appreciated by 133bp to settle at 28,209.93 points and Investors gained N127.08bn as market capitalization appreciated to N9.69tn, while WtD appreciated to 2.05% and YtD loss waned to -1.51%. Market activity as measured by Volume and Value traded depreciated by -29.48% and -14.05% to settle at 231.46mn units and N2.49bn respectively.

Industrial Goods Index Drove Market Performance

Most sector indices closed positive save for the Consumer Goods (-0.07%) Index which remained the sole loser due to profit taking in UNILEVER (-1.11%). On the flipside, the Industrial Goods Index (1.96%) gained the most consequent on bargain hunting solely in DANGCEM (3.85%). In the same vein, the Oil & Gas (1.28%) and Banking (0.13%) Indices gained on the back of positive sentiments in TOTAL (2.48%), CONOIL (10.23%), and OANDO (4.91%) following the acquisition of 49% voting rights of the midstream business subsidiary by Helios, STANBIC (3.55%) and UBA (2.14%), whilst the Insurance Index (0.01%) gained as a result of bullish rally in NEM (4.88%)

Investor’s Sentiment remains Positive

Investors’ sentiment remained marginally positive as market breadth (A-D Ratio) settled at 1.1x (Vs. 1.5x previously) following price appreciation in 15 stocks against losses recorded in 14 stocks. CONOIL (10.24%) remains the top gainer for the sixth consecutive trading session, followed by OANDO (4.91%) and NEM (4.88%), while AIICO (-4.84%), UACN (-3.58%) and WEMABANK (-3.12%) were top losers.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Nigerian Equities Market Opens the Week Red… NSE ASI down 7bp

No Comments

The Nigerian equities market opened the week red to halt the six consecutive trading days of bullish momentum as bellwether stocks in the consumer goods index dragged market performance southward. The performance of the market was driven by profit taking in 7UP (4.98%), FO (-3.52%), NB (-1.13%), NESTLE (-0.12%) and PZ (-4.89%). Consequently, the NSE ASI depreciated by 7bp to settle at 27,839.93 points and investors lost N6.37bn as market capitalization dipped to N9.56tn, while WtD appreciated to 0.72% and YtD loss fell to -2.80%. Market activity as measured by Volume and Value traded appreciated by 43.36% and 37.23% to settle at 328.19mn units and N2.89bn respectively.

Consumer Goods Index Drag Market Performance

Most sector indices closed positive except for the Consumer Goods (-0.92%) Index which lost due to profit taking in 7UP (-4.98%), NB (-1.13%), NESTLE (-0.12%) and PZ (-4.89%). On the flipside, the Banking index (0.25%) and Industrial Goods (0.24%) Index gained the most on account of bargain hunting in FBNH (4.41%), GUARANTY (0.18%), WAPCO (0.46%) and DANGCEM (0.09%). In the same vein, the Insurance (0.16%) and Oil & Gas (0.16%) Indices gained on account of positive sentiments in CONTINSURE (2.06%), CUSTODYINS (0.25%), TOTAL (5.00%) and CONOIL (10.24%).

Investor’s Sentiment remains Positive

Investors’ sentiment closed positive as market breadth (A-D Ratio) settled at 1.5x (Vs. 1.6x previously) following price appreciation in 27 stocks against losses recorded in 18 stocks. CONOIL (10.24%) remains the top gainer for the fifth consecutive trading session, followed by TOTAL (5.00%) and MRS (4.99%), while 7UP (-4.98%), FIDSON (-4.97%) and PZ (-4.89%) were top losers.

 

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Nigerian Equities Market Closes the Week Green… NSE ASI Up 48bp

No Comments

Following the outcome of the August Inflation result (17.60%), the Nigerian equities market closed the week green to extend the bullish trend for the fifth consecutive trading session with most sector Indices trending northward. The performance of the market was dictated by bargain hunting in NB (2.38%), CONOIL (10.21%), NESTLE (0.12%), SEPLAT (0.31%) and PZ (4.56%). Consequently, the NSE ASI appreciated by 48bp to settle at 27,858.48 points and investors gained N45.71bn as market capitalization gained N9.57tn, while WtD appreciated to 1.02% and YtD loss waned to -2.74%. Market activity as measured by Volume and Value traded appreciated by 14.30% and 32.09% to settle at 228.93mn units and N2.11bn respectively.

Consumer Goods Index Boosts Market Performance

Most sector indices closed positive save for the Insurance (-1.01%) Index which lost the most on account of profit taking in AIICO (-4.62%), CONTINSURE (-3.00%), MANSARD (-1.44%) and NEM (-3.57%). The Oil & Gas Index (-0.22%) followed due to sell down pressure in FO (-2.42%) and MOBIL (-0.04%). On the flipside, The Consumer goods (1.55%) and Banking (0.57%) Indices gained consequent on bargain hunting in NB (2.38%), NESTLE (0.12%), PZ (4.56%) GUARANTY (2.08%) and UNITYBNK (4.48%), whilst the Industrial goods Index stayed flat.

Investor’s Sentiment remains Positive

Investors’ sentiment remains positive as market breadth (A-D Ratio) settled at 1.6x (Vs. 1.8x previously) following price appreciation in 25 stocks against losses recorded in 16 stocks. CONOIL (10.21%) stays the top gainer for the fourth consecutive trading sessions following an impressive performance in its final year end 2015 result, followed by AIRSERVICE (5.00%) and JOHNHOLT (4.76%), while PORTPAINT (-5.00%), UBN (-4.91%) and FIDSON (-4.73%) were top losers.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Oil & Gas Index Sustained Bullish Momentum in the Bourse… NSE ASI Up 30bp

No Comments

The Nigerian equities bourse closed positive to extend the bullish trend for the fourth consecutive trading session with most sector Indices trading northwards. The performance of the market dictated by bargain hunting in TOTAL (3.70%), SEPLAT (1.56%), UNILEVER (6.79%), CONOIL (10.23%) and DANGCEM (0.85%). Consequently, the NSE ASI appreciated by 30bp to settle at 27,725.40 points and investors gained N28.60bn as market capitalization gained N9.52tn, while WtD rose to 0.55% and YtD loss trimmed to -3.20%. Market activity as measured by Volume traded appreciated by 9.87% and Value traded depreciated by -10.72% to settle at 200.28mn units and N1.59bn respectively.

Oil & Gas Index Lifts Market Performance

 

Most sector indices closed positive except for the Banking Index (-0.84%) due to profit taking in GUARANTY (-1.85%), UBA (-1.64%), ZENITHBANK (-0.41%) and SKYEBANK (-4.55%). On the flipside, Oil & Gas Index (1.20%) gained the most consequent on bargain hunting in TOTAL (3.70%), SEPLAT (1.56%) and CONOIL (10.23%). The Industrial goods (0.55%) and Consumer Goods (0.43%) Indices followed suit on account of positive sentiments in DANGCEM (0.85%), CAP (2.38%), UNILEVER (6.79%) and HONYFLOUR (3.85%), whilst the Insurance Index (0.34%) gained as a result of bullish rally in CUSTODYINS (2.60%), AIICO (1.56%) and CONTINSURE (1.01%).

Investor’s Sentiment turns Positive

 

Investors’ sentiment turned positive as market breadth (A-D Ratio) settled at 1.8x (Vs. 0.8x previously) following price appreciation in 28 stocks against losses recorded in 16 stocks.  CONOIL (10.23%) remains the top gainer for third consecutive trading sessions following an impressive performance in its final year end 2015 result, followed by AFRIPRUD (8.46%) and UNILEVER (6.79%), while NEIMETH (-8.47%), SKYEBANK (-4.55%) and WEMABANK (-4.55%) were top losers.

Nigerian Equities Market Sustains Rally… NSE ASI Up 19bp

No Comments

The Nigerian equities market extended yesterday’s bullish momentum to close the trading day positive with most sector indices trending northward. The performance of the market was on account of bargain hunting in NESTLE (0.60%), SEPLAT (1.50%), 7UP (1.70%), NB (1.64%) and CONOIL (4.96%), consequently, the NSE ASI appreciated by 19bp to settle at 27,574.09 points and investors gained N17.68bn as market capitalization appreciated to N9.47tn, while WtD fell to -2.98% and YtD loss waned to -3.73%. Market activity as measured by Volume and Value traded depreciated by -17.90% and -51.57% to settle at 242.74mn units and N1.74bn respectively.

Consumer Goods Index Leads Sector Indices

Most sector indices closed positive except for the Banking Index (-0.23%) consequent on profit taking in UBA (-4.14%), ETI (-1.37%) and FCMB (-1.82%). On the flipside, the Consumer Goods Index (0.97%) gained the most due to bargain hunting in NESTLE (0.60%), 7UP (1.70%) and NB (1.64%). The Oil & Gas (0.58%) and Insurance (0.32%) Indices followed suit consequent on positive sentiments in SEPLAT (1.50%), CONOIL (4.96%), AIICO (4.84%) and CONTINSURE (1.01%), whilst the Industrial Goods Index (0.10%) stayed flat.

Investor’s Sentiment turned Positive

Investors’ sentiment turned positive as market breadth (A-D Ratio) settled at 2.1x (Vs. 0.9x previously) following price appreciation in 23 stocks against losses recorded in 11 stocks. The gainers list was led by CONOIL (4.96%) following an impressive performance in its final year end 2016 report with c.176% growth in PAT and EPS rose to N3.33 from N1.20, followed by VITAFOAM (4.91) and TRANSEXPR (4.90%), while JBERGER (-9.73%), CAVERTON (-9.02%) and WEMABANK (-4.17%) were top losers.

Nigerian Equities Market Halts Bearish Momentum… NSE ASI Up 7bp

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The Nigerian equities market closed the trading day positive to end the last three consecutive trading sessions of negative performance. The performance of the market was due to bargain hunting in GUINNESS (1.96%), SEPLAT (0.59%), WAPCO (3.02%), UNILEVER (2.59%) and NB (0.14%), consequently, the NSE ASI appreciated by 7bp to settle at 27,522.62 points and investors gained N6.46bn as market capitalization appreciated to N9.45tn, while WtD dipped to -0.28% and YtD loss trimmed to -3.91%. Market activity as measured by Volume and Value traded appreciated by 67.25% and 90.27% to settle at 295.66mn units and N3.59bn respectively.

Most Sector Indices Closed Positive

Most sector indices closed positive except for the Oil & Gas (-1.03%) and Insurance (-0.07%) Indices consequent on negative sentiments in FO (-4.03%), TOTAL (-0.41%), MOBIL (-0.42%) and AIICO (-1.59%). On the flipside, the Industrial Goods Index (-1.20%) gained the most on account of bargain hunting in WAPCO (3.02%). The Banking Index (0.24%) followed on the back of positive sentiments in UBA (1.55%), DIAMONDBNK (4.35%) and ACCESS (0.18%), whilst the Consumer Goods Index (0.10%) gained due to the bullish rally in GUINNESS (1.96%), UNILEVER (2.59%) and NB (0.14%).

SKYEBANK Leads Gainers List

Investors’ sentiment improved but remained negative as market breadth (A-D Ratio) settled at 0.9x (Vs. 0.4x previously) following price appreciation in 17 stocks against losses recorded in 18 stocks. Top gainers were SKYEBANK (4.62%), MAYBAKER (4.60) and DIAMONDBNK (4.35%), while 7UP (-5.00%), VITAFOAM (-5.00%) and NAHCO (-4.86%) were top losers.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Bearish Momentum Persists in the Bourse… NSE ASI Down 73bp

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The Nigerian equities market closed negative to extend the bearish trend for the third consecutive trading session as all sector indices traded southward. The performance of the market was consequent on profit taking in FO (-2.82%), DANGCEM (-1.14%), TOTAL (-0.37%), CADBURY (-4.11%) and ZENITHBANK (-2.34%), consequently, the NSE ASI depreciated by 73bp to settle at 27,503.81 points and investors lost N69.83bn as market capitalization depreciated to N9.45tn, while WtD gained 0.04% and YtD loss dipped to -3.97%. Market activity as measured by Volume traded depreciated by -9.36% and Value traded appreciated by 20.07% to settle at 176.77mn units and N1.89bn respectively.

All Sector Indices Closed Negative

All sector indices closed negative with the Banking Index (-1.25%) leading the losers list consequent on profit taking in ZENITHBANK (-2.34%), UBN (-5.00%) and FBNH (-2.86%). The Oil & Gas (-1.01%) and Industrial Goods (-0.68%) Indices followed suit on the back of sell-off in FO (-2.82%), TOTAL (-0.37%), DANGCEM (-1.14%) and PORTPAINT (-9.09%). Last but not least, the Consumer Goods (-0.04%) Index lost on account of negative sentiments in CADBURY (-4.11%) and PZ (-0.96%), whilst the Industrial goods Index stayed flat.

Investor’s Sentiment remains Pessimistic

Investors’ sentiment remained negative as market breadth (A-D Ratio) settled at 0.4x (Vs. 0.8x previously) following price appreciation in 10 stocks against losses recorded in 25 stocks. Top gainers were UACN (4.88%), MAYBAKER (2.35%) and ETERNA (2.19%), while PORTPAINT (-9.09%), UBN (-5.00%) and AFRIPRUD (-4.82%) were top losers.

 

 

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Nigerian Equities Market Extends Losses, Opens the Week Red… NSE ASI Down 18bp

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The Nigerian equities market closed the first trading day of the week bearish as most sector indices closed negative. The performance of the market was due to profit taking in DANGCEM (-0.57%), NB (-0.71%), PZ (-4.97%), INTBREW (-3.85%) and UCAP (-4.37%), consequently, the NSE ASI depreciated by 18bp to settle at 27,707.12 points and investors lost N17.02bn as market capitalization depreciated to N9.52tn, while WtD gained 1.24% and YtD loss dipped to -3.26%. Market activity was as measured by Volume and Value traded depreciated by -36.98% and -53.36% to settle at 195.02mn units and N1.57bn respectively.

Consumer Goods Index Leads Losers list

Most sector indices closed negative except for the Banking Index (0.72%) which led the gainers list on account of bargain hunting in UBA (3.69%), ZENITHBANK (1.01%) and ACCESS (1.60%). The Oil & Gas index (0.20%) followed suit consequent on positive sentiments in OANDO (2.10%). On the flip slide, the Consumer Goods (-0.51%) and Insurance (-0.42%) Indices lost on the back of sell off in NB (-0.71%), PZ (-4.97%), NEM (-4.82%) and AIICO (-4.82%), whilst the Industrial goods Index (-0.25%) trimmed due to profit taking in DANGCEM (-0.57%).

Investor’s Sentiment turns Negative

Investors’ sentiment turned negative as market breadth (A-D Ratio) settled at 0.8x (Vs. 1.8x previously) following price appreciation in 13 stocks against losses recorded in 17 stocks. Top gainers were MAYBAKER (4.94%), CUTIX (4.67%) and DIAMONDBNK (4.46%), while PZ (-4.97), NEM (-4.82%) and AIICO (-4.55%) were top losers.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Profit Taking in DANGCEM Drags Market Performance… NSE ASI Down 2.33%

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The Nigerian equities market closed negative as the sell-off pressure in bellwether stocks dampened yesterday’s bullish performance. The performance of the market was dictated by profit taking in DANGCEM (-7.85%), WAPCO (-2.76%), FLOURMILL (-1.25%), OANDO(-4.23%) and AFRIPRUD (-4.91%), consequently, the broad market index shed 2.33% to settle at 27,756.67 points and investors lost N227.79bn as market capitalization depreciated to N9.53tn, while WtD settled at 1.11% and YtD loss dipped to -3.09%. Market activity was as measured by Volume and Value traded appreciated by 35.00% and 59.00% to settle at 309.45mn units and N3.37bn respectively.

Industrial Index Drags Market Performance

Most sector indices closed positive save for the Industrial Goods Index (-5.32%), led the losers list consequent on pump and dump in DANGCEM (-7.85%) and WAPCO (-2.76%). The Insurance index (-0.05%) followed suit consequent on sell off in NEM (-1.19%). On the flip slide, the Oil & Gas (1.12%) and Banking (0.97%) Indices gained on account of bargain hunting in SEPLAT (5.00%), TOTAL (0.79%), GUARANTY (2.04%) and FCMB (7.48%), whilst the Consumer goods (0.18%) index gained as a result of positive sentiments in 7UP (3.50%), CADBURY (4.29%) and DANGSUGAR (0.78%).

Investor’s Sentiment Closed Positive

Investors’ sentiment remained positive as market breadth (A-D Ratio) settled at 1.8x (Vs. 2.1x previously) following price appreciation in 21 stocks against losses recorded in 12 stocks. Top gainers were WEMABANK (8.70%), FCMB (7.48%) and SEPLAT (5.00%), while DANGCEM (-7.85%), AFRIPRUD (-4.91%) and CAVERTON (-4.32%) were top losers.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Nigerian Equities Market Maintains Bullish Momentum… NSE ASI Up 297bp

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The Nigerian equities market closed the trading day positive as the bulls continue to spur market performance as all sector Indices trend northwards. The NSE ASI appreciated by 297bp to settle at 28,419.92 points, while WtD gained to 3.80% and YtD loss waned to -0.78% consequent on bargain hunting in DANGCEM (8.59%), FO (1.14%), CAP (4.92%), GUINNESS (1.22%) and NB (0.70%). In the same vein, Investors gained N281.93bn as market capitalization appreciated to N9.76tn whilst market activity as measured by Volume and Value traded depreciated by -12.71%and -56.63% to settle at 229.23mn units and N2.18bn respectively.

DANGCEM Leads gainers list

 

All sector indices closed positive with the Industrial (4.63%) Index gaining the most on account of bargain hunting in DANGCEM (8.59%) and CAP (4.92%). The Oil & Gas (0.48%) and Consumer goods (0.40%) Indices followed suit due to positive sentiments in FO (1.14%), OANDO (1.02%), GUINNESS (1.22%) and NB (0.70%), whilst the Banking (0.39%) and Insurance (0.29%) indices gained due to bargain hunting in GUARANTY (0.95%), ETI (1.13%), ACCESS (1.27%) and AIICO (4.76%).

Investor’s Sentiment Turns Positive

 

Investors’ sentiment turned positive as market breadth (A-D Ratio) settled at 2.1x (Vs. 0.8x previously) following price appreciation in 25 stocks against losses recorded in 12 stocks. Top gainers were DANGCEM (8.59%), CAP (4.92%) and FCMB (4.90%), while CAVERTON (-4.79%), CHELLARAM (-4.75%) and TRIPPLEG (-4.58%) were top losers.

Bulls Resurface in the Bourse… NSE ASI Up 46bp

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The Nigerian equities bourse closed the trading day on a positive note as most sector indices traded northwards to lift market performance. The NSE ASI appreciated by 46bp to settle at 27,493.12 points, while WtD and YtD loss waned to -1.14% and -4.01% respectively on account of bargain hunting in 7UP (9.41%), MOBIL (5.00%), DANGCEM (1.15%), NB (1.25%) and PRESCO (2.49%). In the same vein, Investors gained N42.83bn as market capitalization appreciated to N9.44tn whilst market activity as measured by Volume and Value traded appreciated by 174.52% and 285.48% to settle at 230.13mn units and N2.74bn respectively.

Most Sector Indices Traded Northwards

Most sector indices closed positive save for the Banking (-0.54%) and Oil & Gas (-0.19%) indices consequent on profit taking in ZENITHBANK (-2.29%), UBA (-2.47%), FO (-1.13%) and CONOIL (-4.99%). On the flipside, the Consumer goods (0.70%) Index gained the most due to bargain hunting in 7UP (9.41%) and NB (1.25%). The Industrial (0.59%) and Insurance (0.07%) indices followed suit on account of positive sentiments in DANGCEM (1.15%), AIICO (1.59%) and CONTINSURE (1.05%).

Investor’s Sentiment Remained Negative

Investors’ sentiment improved but remained negative as market breadth (A-D Ratio) settled at 0.9x (Vs. 0.6x previously) following price appreciation in 17 stocks against losses recorded in 18 stocks. Top gainers were 7UP (9.41%), NAHCO (8.36%) and SKYEBANK (5.00%), while MAYBAKER (-8.91%), CONOIL (-4.99%) and CUTIX (-4.85%) were top losers.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Nigerian Equities Market Opened the Week Red… NSE ASI down 30bp

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All Sector Indices Traded Southwards

All sector indices closed negative with the Banking (-0.54%) index losing the most on account of profit taking in GUARANTY (-1.29%), UNITYBNK (-9.52%) and FBNH (-1.98%). The Insurance (-0.47%) and Consumer goods (-0.43%) indices followed suit consequent on negative sentiments in NEM (-4.44%), CONTINSURE (-3.06%), NB (-1.27%) and DANGSUGAR (-0.15%). In the same vein, the Oil and Gas (-0.04%) index traded southwards due to sell-down pressure in OANDO (-0.40%), whilst the Industrial Index remained flat.

Investor’s Sentiment turns Negative

Investors’ sentiment turned negative as market breadth (A-D Ratio) settled at 0.6x (Vs. 1.0x previously) following price appreciation in 10 stocks against losses recorded in 17 stocks. Top gainers were NPFMCRFBK (4.21%), 7UP (3.52%) and CHAMPION (3.45%), while UNITYBNK (-9.52%), NAHCO (-5.00%) and DIAMONDBNK (-4.46%) were top losers.

Te current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Nigerian Equities Market Closes the Week Green… NSE ASI Up 26bp

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The Nigerian equities market closed the week bullish to undermine yesterday’s bearish performance. The NSE ASI appreciated by 26bp to settle at 27,450.91 points, while WtD and YtD loss trimmed to -0.72% and -4.16% respectively consequent on bargain hunting in PRESCO (9.55%), DANGCEM (0.86%), CAP (4.99%), UNILEVER (3.03%) and UACN (3.02%). In the same vein, Investors gained N24.37bn as market capitalization appreciated to N9.43tn whilst market activity as measured by Volume and Value traded appreciated by 29.82% and 160.09% to settle at 279.56mn units and N3.70bn respectively.

PRESCO Leads Gainers List

Most sector indices closed negative except for the Industrial (0.59%) and Insurance (0.29%) Indices on account of bargain hunting in DANGCEM (0.87%), CAP (4.99%), CUSTODYINS (1.30%) and CONTINSURE (4.26%). On the flip-side, the Oil and Gas (-0.21%) Index lost the most due to profit taking in OANDO (-1.96%), whilst the Banking (-0.12%) and Consumer goods (-0.02%) Indices followed suit consequent on negative sentiments in ACCESS (-1.23%), FBNH (-2.26%), NB (-0.43%) and DANGFLOUR (-0.77%).

Investor’s Sentiment Returns Optimistic

Investors’ sentiment turned positive as market breadth (A-D Ratio) settled at 1.0x (Vs. 0.4x previously) following price appreciation in 15 stocks against losses recorded in 15 stocks. Top gainers were PRESCO (9.55%), CAP (4.99%) and HONYFLOUR (4.62%), while WEMABANK (-4.48%), FCMB (-4.42%) and AIICO (-3.12%) were top losers.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Nigerian Equities Market Halts Bullish Drive… NSE ASI down 180bp

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The Nigerian equities market closed the trading day negative as bearish sentiment in most sector indices prevailed. The NSE ASI depreciated by 180bp to settle at 27,379.95points, while WtD and YtD loss dipped to -0.15% and -4.41% respectively on account of profit taking in DANGCEM (-4.71%), FO (-0.90%), NB (-0.78%), DANGSUGAR (-4.41%) and ZENITHBANK (-1.86%). In the same vein, Investors lost N171.90bn as market capitalization depreciated to N9.40tn whilst market activity as measured by Volume and Value traded depreciated by –6.49% and –51.85% to settle at 215.33mn units and N1.42bn respectively.

Mixed Performance in Sector Indices

Most sector indices closed negative except for the Insurance (0.22%) and Oil & Gas (0.13%) Indices on account of bargain hunting in CONTINSURE (4.44%) and SEPLAT (1.81%) . On the flipside, The Industrial (-2.37%) Index lost the most consequent on profit taking in DANGCEM (-4.71%). The Banking (-0.70%) and Consumer goods (0.15%) Indices followed suit due to sell off pressure in ZENITHBANK (-1.86%), ETI (-0.87%), NB (-0.78%) and DANGSUGAR (-4.41%).

Investor’s Sentiment turns Negative

Investors’ sentiment turned negative as market breadth (A-D Ratio) settled at 0.4x (Vs. 1x previously) following price appreciation in 11 stocks against losses recorded in 25 stocks. Top gainers were CAP (4.98%), CONTINSURE (4.44%) and LIVESTOCK (4.44%), while SKYEBANK (-7.81%), DANGFLOUR (-4.89%) and DANGCEM (-4.71%) were top losers.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Nigerian Equities Market Rebounds as Bulls Resurface… NSE ASI Up 25bp

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The Nigerian equities bourse closed the trading day on a positive note as bullish sentiment in most sector indices traded northwards dampening yesterday’s bearish performance. The NSE ASI appreciated by 25bp to settle at 27,880.46points, while WtD gained 1.62% and YtD loss waned to -2.66% on the back of bargain hunting in FO (5.00%), NB (1.01%), DANGCEM (0.28%), GUARANTY (1.39%) and ETI (2.32%). In the same vein, Investors gained N24.10bn as market capitalization appreciated to N9.58tn whilst market activity as measured by Volume and Value traded appreciated by 26.36% and 0.73% to settle at 230.29mn units and N2.96bn respectively.

Oil & Gas Index Boosts Market Performance

Most sector indices closed positive except for the Insurance (-0.25%) Index once again consequent on profit taking in CONTINSURE (-4.26%). On the flipside, The Oil & Gas (1.68%) Index gained the most due to positive sentiments in FO (5.00%) and OANDO (0.20%). The Banking (0.16%) and Industrial goods (0.15%) Indices followed suit on account of bargain hunting pull in GUARANTY (1.39%), ETI (2.32%) and DANGCEM (0.28%) whilst gains in the consumer goods (0.11%) Index were recorded due to bullish rally in NB (1.01%), INTBREW (0.41%) and CADBURY (0.30%).

Investor’s Sentiment declines marginally

Investors’ sentiment declined marginally but sustained positivity as market breadth (A-D Ratio) settled at 1x (Vs. 1.8x previously) following price appreciation in 17 stocks against losses recorded in 17 stocks. Top gainers were WEMABANK (9.38%), FIDSON (5.00%) and FO (5.00%), while DIAMONDBNK (-8.94%), MAYBAKER (-7.34%) and FCMB (-5.00%) were top losers.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Nigerian Equities Market Slips in the Red… NSE ASI down 2bp

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The Nigerian equities market closed negative consequent on mounting sell-off pressure in the Insurance Index which dampened yesterday’s bullish performance. The broad market Index depreciated by 2bp to settle at 27,810.28points, while WtD gained 1.54% and YtD loss dipped to -2.90% on the back of profit taking in DANGCEM (-1.64%), AIRSERVICE (-3.65%), UNITYBNK (-8.79%), CUTIX (-4.07%) and UBA (-1.52%). In the same vein, Investors lost N2.31bn as market capitalization remained flat at N9.55tn whilst market activity as measured by Volume traded depreciated by -15.69% and Value traded appreciated by 3.83% to settle at 182.23mn units and N2.93bn respectively.

Insurance Index Drags Down Market Performance

Most sector indices closed positive except for the Insurance (-0.33%) Index which drove market performance down on account of profit taking solely in CONTINSURE (-4.08%). On the flipside, The Oil & Gas (4.22%) Index gained the most due to bargain hunting in SEPLAT (10.25%), FO (5.00%) and TOTAL (0.41%). The Industrial (0.52%) and Consumer (0.33%) goods Indices followed suit consequent on positive sentiments in WAPCO (3.57%), CCNN (3.27%), INTBREW (3.58%), NB (0.24%) and DANGSUGAR (3.52%) whilst gains continued in the banking index (0.25%) as a result of bargain hunting pull in GUARANTY (0.97%), ZENITHBANK (1.55%) and UCAP (3.03%).

Investor’s Sentiment remains flat

Investors’ sentiment remained flat as the market breadth (A-D Ratio) settled at 1.8x following price appreciation in 27 stocks against losses recorded in 15 stocks. Top gainers were SEPLAT (10.25%), FO (5.00%) and WEMABANK (4.92%), while UNITYBNK (-8.79%), ACADEMY (-4.76%) and CONTINSURE (-4.08%) were top losers.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Bargain Hunting In Bellwether Stocks Opens the Week Bullish… NSE ASI Up 60bp

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Trading activities in the Nigerian equities market started the week on a bullish note with all sector Indices trending northwards. The NSE ASI appreciated by 60bp to settle at 27,817.00points, while WtD gained 1.83% and YtD loss waned to -2.88% on the back of bargain hunting in NESTLE (1.21%), SEPLAT (2.08%), NB (1.44%), FO (1.19%) and INTBREW (3.32%). In the same vein, Investors gained N57.25bn as market capitalization appreciated to N9.55tn whilst market activity as measured by Volume traded depreciated by 0.42% and Value traded appreciated by 2.09% to settle at 216.17mn units and N2.83bn respectively.

All Sector Indices in the Green

All sector Indices closed positive with the banking (1.28%) Index once again driving market performance due to bargain hunting in GUARANTY (1.58%), ACCESS (4.64%) and UBA (5.50%). The Oil & Gas (1.00%) and Consumer goods (0.93%) Indices followed suit on account of positive sentiments in SEPLAT (2.08%), FO (1.19%), NESTLE (1.21%) and INTBREW (3.32%). Last but not least the Insurance (0.11%) Index gained solely on account of bargain hunting pull in AIICO (4.76%), whilst the Industrial index was flat.

Investor’s Sentiment remained Positive

Investors’ sentiment remained positive as the market breadth (A-D Ratio) settled at 1.8x (Vs 1.1x previously) following price appreciation in 20 stocks against losses recorded in 11 stocks. Top gainers were TRANSCORP (7.62%), UBA (5.50%) and ETERNA (4.81%), while 7UP (-4.61%), LIVESTOCK (-4.30%) and DANGFLOUR (-3.61%) were top losers.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Nigerian Equities Market Ricochets to Close the Week Bullish… NSE ASI Up 84bp

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The Nigerian equities bourse closed the week bullish to undermine yesterday’s bearish performance with most sector Indices trending northwards. The NSE ASI appreciated by 84bp to settle at 27,640.32points, while WtD stood at 1.48% and YtD loss eased to -3.46% on the back of bargain hunting in 7UP (5.00%), NB (2.51%),GUINNESS (3.34%), UNILEVER (4.98%) and UACN (4.68%). In the same vein, Investors gained N78.76bn as market capitalization appreciated to N9.50tn whilst market activity as measured by Volume traded appreciated by 0.42% and Value traded depreciated by -23.19% to settle at 314.6mn units and N2.77bn respectively.

Banking Index Drove Market Performance up 225bp

Most sector Indices closed positive except for the Oil & Gas (-1.49%) and Insurance (-1.47%) Indices due to profit taking in MOBIL (-3.15%), TOTAL (-2.01%), MANSARD (-4.76%) and AIICO (-1.56%). On the flip side, the Banking (2.25%) Index led the gainers list consequent on bargain hunting in GUARANTY (2.23%), ZENITHBANK (3.27%) and ACCESS (4.87%)- rose as optimism built up following an impressive half year result which was boosted by a significant growth in Net Interest Income (42.12%)leading to PAT Increase of 26.20%. The Consumer goods (1.62%) and Industrial goods (-0.07%) Indices followed suit due to bargain hunting in 7UP (5.00%), NB (2.51%), GUINNESS (3.34%) and CUTIX (2.99%).

Investor’s Sentiment turned Positive

Investors’ sentiment turned positive as the market breadth (A-D Ratio) settled at 1.1x (Vs 0.9x previously) following price appreciation in 23 stocks against losses recorded in 21 stocks. Top gainers were 7UP (5.00%), UNILEVER (4.98%) and ACCESS (4.87%), while NPFMCRFBK (-5.00%), MRS (-4.98%) and NAHCO (-4.97%) were top losers.

Nigerian Equities Market Halts Bullish Rally… NSE ASI down 6bp

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The Nigerian equities market ended three days of consecutive bullish rally to close the day bearish with most sector Indices closing negative. The NSE ASI depreciated by 6bp to settle at 27,420.99points, while WtD stood at 0.51% and YtD loss dipped to -4.26% on the back of profit taking in GUINNESS (-3.75%), TOTAL (-0.80%), MOBIL (-1.02%), GUARANTY (-1.20%) and CCNN (-3.33%). In the same vein, Investors lost N5.58bn as market capitalization depreciated to N9.41tn whilst market activity as measured by Volume and Value traded appreciated by 5.31% and 57.44% to settle at 313.28mn units and N3.60bn respectively.

Negative Performance in Most Sector Indices

Most sector Indices closed negative except for the Industrial goods (0.45%) Index on account of bargain hunting solely in WAPCO (1.27%). On the flip side, the consumer goods (-0.20%) Index led the losers list consequent on sell-off in GUINNESS (-3.75%), and DANGSUGAR (-0.61%). The Oil & Gas (-0.13%) and Banking (-0.07%) Indices followed suit due to profit taking in TOTAL (-0.80%), MOBIL (-1.02%), GUARANTY (-1.20%) and UBN (-4.82%). Lastly, the Insurance (-0.07%) Index depreciated on the back drop of downturn In AIICO (-4.48%) and LAWUNION (-3.51%).

Investor’s Sentiment turned Negative

 

Investors’ sentiment turned negative as the market breadth (A-D Ratio) settled at 0.9x (Vs 1.3x previously) following price appreciation in 16 stocks against losses recorded in 18 stocks. Top gainers were NEM (5.00%), ETERNA (4.80%) and LIVESTOCK (4.40%), while UAC-PROP (-4.87%), UBN (-4.82%) and TRANSCORP (-4.55%) were top losers.

Market Sustains Bullish Momentum… NSE ASI Up 27bp

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The Nigerian equities market extended the positive opening of the week as the bulls continue to spur market performance closing in the green for the second consecutive trading session of the week with all sector indices trending northwards. The broad market index appreciated by 27bp to settle at 27,389points, while WtD gained 0.43%and YtD loss trimmed to -4.38% on the back of bargain hunting in TOTAL (3.33%), NB (1.11%), GUARANTY (1.78%), OKOMUOIL (0.69%) and ZENITHBANK (1.67%). In the same vein, Investors gained N24.90bn as market capitalization appreciated to N9.41tn whilst market activity as measured by Volume and Value traded appreciated by 10.41% and 8.83% to settle at 235.89mn units and N2.22bn respectively.
All Sector Indices Closed Positive

All Sector indices closed positive with the Banking Index (0.90%) taking the lead due to renewed investor’s sentiment in GUARANTY (1.78%), ZENITHBANK (1.67%) and STERLNBANK (4.00%). The Consumer Goods (0.37%) and Oil & Gas (0.22%) indices followed suit consequent on bargain hunting in NB (1.11%), CADBURY (0.71%) and TOTAL (3.33%). Last but not least, the Insurance Index (0.04%) traded northwards on account of positive sentiments in CONTINSURE (3.09%), whilst the Industrial Index closed flat.
Investor Sentiment Took a Leap

Investors’ sentiment improved but remained in the negative region as the market breadth (A-D Ratio) settled at 0.8x (Vs 0.3x previously) following price appreciation in 15 stocks against losses recorded in 18 stocks. Top gainers were LIVESTOCK (5.56%), STERLNBANK (4.00%) and TOTAL (3.33%), while CHAMPION (-8.06%), NPFMCRFBK (-4.95%) and AFRIPRUD (-4.94%) were top losers.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.
We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments. More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk

Nigerian Equities Market Rebounds to Open the Week Bullish… NSE ASI Up 26bp

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The Nigerian equities market opened the first trading day of the week positive as bullish sentiment in most sectoral indices prevailed. The NSE ASI appreciated by 26bp to settle at 27,316.52 points, while WtD and YtD loss eased to -0.29% and -4.63% respectively on the back of bargain hunting in Industrial Goods and Consumer Goods bellwether counters; NESTLE (0.61%), DANGCEM (1.66%), NB (1.85%), UNILEVER (5.00%) and WAPCO (3.23%). In the same vein, Investors gained N23.88bn as market capitalization appreciated to N9.38tn whilst market activity as measured by Volume and Value traded appreciated by 12.04% and 54.28% to settle at 213.64mn units and N2.05bn respectively.

Industrial and Consumer Goods Indices Lifted Market Performance

Most Sector indices closed negative except for the Industrial goods (1.98%) and Consumer goods (0.82%) Indices due to bargain hunting in DANGCEM (1.66%), NESTLE (0.61%) and NB (1.85%). On the flip side, the Oil & Gas (-2.23%) and Banking (-1.66%) indices made the most loss due to profit taking in FO (-4.87%), SEPLAT (-0.83%), ZENITHBANK (-1.90%) and UBA (-5.00) whilst the Insurance Index (-0.01%) traded southwards as a result of downtrend in AIICO (-4.29%) and LAWUNION (-3.39%).

Investor Sentiment Dipped Further

Investors’ sentiment dipped further as the market breadth (A-D Ratio) settled at 0.3x (Vs 0.6x previously) following price appreciation in 11 stocks against losses recorded in 37 stocks. Top gainers were UNILEVER (5.00%), SKYEBANK (4.69%) and WAPIC (4.00%), while top losers were CHAMPION (-9.62%), NAHCO (-9.50%) and UNITYBNK (-8.08%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Kindly download the attached for the full report.

Market Closed the Week Bearish as Negative Sentiments Persist… NSE ASI down 12bp

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The Nigerian equities market closed the last trading day of the week negative as bearish sentiments in bellwether counters mounted. The NSE ASI depreciated by 12bp to settle at 27,246.98 points, while WtD and YtD loss trimmed to -0.65% and -4.87% respectively. Today’s weak performance was on account of profit taking in NESTLE (-0.61%), CAP (-9.55%), NB (-1.08%), GUINNESS (-0.78%) and ZENITHBANK (-1.92%). In the same vein, Investors lost N11.67bn as market capitalization declined to N9.36tn whilst market activity as measured by Volume and Value traded depreciated by -21.73%  and -48.04% to settle at 190.68mn units and N1.33bn respectively.

Industrial Index Gained the Most

Most Sectoral Indices closed negative except for the Industrial goods (1.88%) and Oil & Gas (0.42%) Indices due to bargain hunting in WAPCO (6.14%), TOTAL (1.70%) and OANDO (1.48%). On the flip side, the Consumer goods (-0.55%) and Insurance (-0.54%) indices made the most loss on the back of sell-offs in NESTLE (-0.61%), NB (-1.08%) and CONTINSURE (-4.90). The Banking Index (-0.30%) followed suit consequent on sell down pressures in ZENITHBANK (-1.92%), FBNH (-3.98%) and STERLNBANK (-4.59%).

Investor Sentiments Remained Negative

Investors’ sentiment remained flat as the market breadth (A-D Ratio) settled at 0.6x following price appreciation in 13 stocks against losses recorded in 22 stocks. Top gainers were 7UP (6.27%), WAPCO (6.14%) and AIICO (4.48%), while top losers were CAP (-9.55%), CHAMPION (-4.99%) and CONTINSURE (-4.90%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Kindly download the attached for the full report.

Bears Took the Race- Equities Market Returns In the Red… NSE ASI down 51bp

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The Nigerian equities market closed negative as the sell-off pressure in bellwether stocks dampened yesterday’s Bullish performance. The Broad Market index depreciated by 51bp to settle at 27,280.95 points, while WtD and YtD loss dipped to -1.70% and -4.75% respectively due to profit taking in 7UP (-4.88%), TOTAL (-2.08%), CAP (-5.00%), WAPCO (-2.52%) and NB (-0.77%). In the same vein, Investors lost  N48.39bn as market capitalization fell to N9.37tn whilst market activity as measured by Volume and Value traded depreciated by -37.76%  and -24.72% to settle at 243.60mn units and N2.56bn respectively.

Sentiment Wane Further

 

Most Sectoral Indices closed negative save for the Insurance Index (0.02%) which closed a lone gainer due to moderate positive sentiment in AIICO (1.52%). On the flip side, the Banking index (-1.71%) led the losers list as sentiment wane further in the index consequent on tepid outlook for counters in the index following a recently released result by Zenith Bank Plc with PAT decline of 15.68% in H1’2016 leading to sell-off of 2.50% in the counter, while ETI (-2.57%), GUARANTY (-1.19%), UBA (-1.11) and ACESS (-0.36) followed suit. The Industrial Goods (-1.06%) and Consumer Goods (-0.39%) Indices followed the bearish trend on the back off profit taking in CAP (-5.00%), WAPCO (-2.52%), 7UP (-4.88%) and NB (-0.77%) whilst losses resurfaced in the Oil & Gas (-0.37%) Index as a result of sell-offs in TOTAL (-2.08%) and OANDO (-4.91%).

Investors’ Sentiment Lost Momentum

 

Investors’ sentiment remained negative as the market breadth (A-D Ratio) weakened to settle at 0.6x (Vs 0.9x previously) following price appreciation in 14 stocks against losses recorded in 24 stocks. Top gainers were INTBREW (5.93%), WEMABANK (4.29%) and AFRIPRUD (4.60%), while top losers were DIAMONDBNK (-9.09%), CAP (-5.00%) and PZ (-5.00%).

 

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Kindly download the attached for the full report.

Bulls are Out… NSE ASI up 55bp

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The Nigerian equities market took a breather to close the trading day on a positive note after three consecutive trading sessions of sell-off. The NSE ASI appreciated by 55bp to settle at 27,421.83points, while WtD and YtD loss firmed to -0.96% and -4.26% respectively due to bargain hunting in NESTLE (0.61%), TOTAL (1.69%), NB (2.03%), DANGCEM (0.58%) and OKOMUOIL (2.86%). In the same vein, investors gained N51.41bn as market capitalization rose to N9.42tn whilst market activity as measured by Volume traded depreciated by -6.09% and Value traded appreciated by 57.11% to settle at 391.37mn units and N3.40bn respectively.

Bargain Hunting Prevail in Baking Index

Most market indices closed positive save for the Insurance (-0.15%) and Industrial Goods (-0.04%) Indices consequent on profit taking In AIICO (-2.94%), NEM (-2.44%) and CAP (-9.73%). On the flip side, the Banking index (0.79%) and Consumer Goods (0.70%) Index gained the most due to strong rally in GUARANTY (1.21%), STANBIC (1.66%) and NESTLE (0.61%) and NB (2.03). Lastly, the Oil & Gas (0.24%) Index appreciated on the back of bargain hunting in TOTAL (1.69%).

Investors’ Sentiment Gained Momentum

Investors’ sentiment improved but remained negative as the market breadth (A-D Ratio) settled at 0.9x (Vs 0.2x previously) following price appreciation in 19 stocks against losses recorded in 21 stocks. Top gainers were IKEJAHOTEL (5.00%), UAC-PROP (4.84%) and INTBREW (4.60%), while top losers were 7UP (-9.74%), CAP (-9.73%) and FIDSON (-4.84%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Kindly download the attached for the full report.

Nigerian Equities Market Maintains Bearish Momentum… NSE ASI down 45bp

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The Nigerian equities market closed bearish for the third consecutive trading session with all sectoral indices in the red. The NSE ASI depreciated by 45bp to settle at 27,272.14 points, while WtD and YtD loss dipped to -2.01% and -4.78% respectively on the back of profit taking in MOBIL (-5.00%), SEPLAT (-3.20%), MRS (-5.00%), DANGCEM (-0.56%) and DANGSUGAR (-2.58%). In the same vein, investors lost N42.19bn as market capitalization waned to N9.47tn whilst market activity as measured by Volume and Value traded appreciated by 252.09% and 70.11% to settle at 416.76mn units and N2.16bn respectively.

All Sectoral Indices Traded Southwards

All market indices closed negative with the Oil & Gas (-1.10%) index leading the losers list due to sell-offs In MOBIL (-5.00%), SEPLAT (-3.20%) and MRS (-5.00%). Followed by the Banking (-0.57%) and Industrial Goods (-0.32%) Indices depreciating consequent on weak sentiment in STERLNBANK (-9.37%), ACCESS (-1.79%) and DANGCEM (-0.56%). Furthermore, the Insurance (-0.21%) and Consumer Goods (-0.18%) Indices plunged due to sell-down pressures in AIICO (-4.23%), NEM (-3.53%), INTBREW (-5.00%) and DANGSUGAR (-2.58%).

Investors’ Sentiment Slip Further

Investors’ sentiment closed dipped at the close of trading as the market breadth (A-D Ratio) settled at 0.2x (Vs 0.8x previously) following price appreciation in 6 stocks against losses recorded in 31 stocks. Top gainers were WAPIC (4.00%), TOTAL (2.63%) and SKYEBANK (1.47%), while top losers were STERLNBANK (-9.37%), MOBIL (-5.00%) and MRS (-5.00%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Kindly download the attached for the full report.

Nigerian Equities Market Extends Bearish Trend to Open the Week Red … NSE ASI down 11bp

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The Nigerian equities market closed the first trading day of the week negative as bearish sentiment in most sectoral indices prevailed. The NSE ASI depreciated by 11bp to settle at 27,394.98 points, while WtD and YtD waned to -1.61% and -4.35% respectively on the back of sell-offs in TOTAL (-4.99%), NB (-2.28%), MRS (-4.98%), FLOURMILL (-4.67%) and 7UP (-0.58%). In the same vein, investors lost 10.61bn as market capitalization dipped to N9.40tn whilst market activity as measured by Volume depreciated by -2.05% and Value appreciated by 0.34% to settle at 118.37mn units and N1.27bn respectively.

Consumer Goods Index Led the Losers List

Most Market Indices closed positive except for the Consumer Goods (-1.12%) and Oil & Gas (-0.47%) Indices due to profit taking in NB (-2.28%), FLOURMILL (-4.67%), TOTAL (-4.99%) and MRS (-4.98%). On the flip side, the banking index (1.25%) gained the most consequent on positive Investor’ sentiment in GUARANTY (3.63%), ACCESS (2.19%) and FCMB (5.51%). Furthermore, the Insurance (0.61%) and Industrial (0.23%) Goods Indices traded northwards as a result of bargain hunting in AIICO (4.41%), CONTINSURE (2.00%) and WAPCO (0.68%).

Investors’ Sentiment Remain Soft

 

Investor’ sentiment closed flat as the market breadth (A-D Ratio) settled at 0.8x following price appreciation in 15 stocks against losses recorded in 18 stocks. Top gainers were FCMB (5.51%), DANGSUGAR (4.96%) and NPFMCRFBK (4.44%), while top losers were DANGFLOUR (-5.25%), TOTAL (-6.81%) and BERGER (-4.98%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Kindly download the attached for the full report.

The Nigerian Equities Market Closed The Week Bearish… NSE ASI down 117bp

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The Nigerian equities  market closed the last trading day of the week negative as sell-off pressure in bellwether stocks dampened yesterday’s Bullish performance. The broad market index depreciated by 117bp to settle at 27,425.86 points, while WtD and YtD trimmed to -2.09%  and -4.25% respectively on the back of profit taking in SEPLAT (-5.00%), 7UP (-4.87%), DANGCEM (-1.64%), NB (-1.46%) and CONOIL (-5.00%). In the same vein, Investors lost 111.79bn as market capitalization dipped to N9.42tn whilst market activity as measured by Volume and Value traded depreciated by -22.39% and -17.04% to settle at 120.84mn units and N1.27bn respectively.

Mixed Performance in Bellwether Sectors

 

Most Market Indices closed negative except for the Oil & Gas (1.02%) and Insurance (0.85%) Indices due to bargain hunting in TOTAL (8.72%), MOBIL (5.00%), MANSARD (1.95%) and CONTINSURE (3.09%). On the flip side, the Banking Index (-2.72%) lost the most consequent on negative Investor sentiments in GUARANTY (-3.22%), ETI (-3.90%) and ZENITHBANK (-1.96%). Furthermore, the Industrial (-1.21%) and Consumer (-0.54%) Goods Indices traded southwards as a result of sell down pressure in DANGCEM (-1.64%), WAPCO (-0.87%), 7UP (-4.87%) and NB (-1.46%).

Investors’ Sentiment Remain Unchanged

 

Investor sentiment remain flat as the market breadth (A-D Ratio) settled at 0.8x following price appreciation in 18 stocks against losses recorded in 22 stocks. Top gainers were FLOURMILL (9.90%), TOTAL (8.72%) and OANDO (6.14%), while top losers were DIAMONDBNK (-9.27%), DANGFLOUR (-6.81%) and CONOIL (-5.00%).

 

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Kindly download the attached for the full report.

The Nigerian Equities Bourse Ricochets as Sentiment Strengthens… NSE ASI Up 23bp

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The Nigerian equities market took a breather to close the trading session on a positive note after five consecutive days of sell-offs that drove the market to an oversold territory. The NSE ASI appreciated by 23bp to settle at 27,751.34 points, while WtD and YtD loss trimmed to -1.05%  and -3.11% respectively. Market activity was strengthened by bargain hunting in TOTAL (8.06%), MOBIL (5.00%), NB (1.85%), GUINNESS (1.07%) and WAPCO (1.18%). In the same vein, Investors gained 21.82bn as market capitalization increased to N9.53tn whilst market activity as measured by Volume and Value traded depreciated by 37.79% and 31.53% to settle at 155.71mn units and N1.53bn respectively.

Gains Recorded In Most Sectoral Indices

Most Market Indices gained as the Oil & Gas index (1.42%) inclined the most consequent on bargain hunting in TOTAL (8.06%) and MOBIL (5.00%). The Consumer (0.78%) and Industrial (0.44%) Goods Indices followed as positive investor sentiments prevailed in NB (1.85%), GUINNESS (1.07%), WAPCO (1.18%) and CUTIX (9.21%). On the flip side, the Banking (-0.58%) and Insurance (-0.35%) Indices dipped on the heels of sell-offs in GUARANTY (-0.75%), ZENITHBANK (-0.61%), DIAMONDBNK (-4.43%), AIICO (-6.94%) and CONTINSURE (-4.90%).

Investors’ Sentiment Gained Momentum

Investor sentiment improved but remain negative as the market breadth (A-D Ratio) settled at 0.8x (Vs. previous 0.7x) following price appreciation in 14 stocks against losses recorded in 17 stocks. CUTIX (9.21%), TOTAL (8.06%) and MOBIL (5.00%) led the gainers list, while top losers were AIICO (-6.94%), INTBREW (-4.96%) and CONTINSURE (-4.90%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Kindly download the attached for the full report.

Nigerian Equities Market Dipped Further in the Red… NSE ASI down 52bp

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Trading activities in the bourse recorded extended losses as profit taking persisted for the fifth consecutive trading session as all sectoral Indices sustained their southward trend. The NSE ASI depreciated by 52bp to settle at 27,687.80 points, while WtD remained negative at -1.84% and YtD waned further to -3.33%, following bearish sentiments in SEPLAT (-9.75%), 7UP (-5.00%), WAPCO (-3.90%), FLOURMILL (-4.98%) and NB (-0.44%). In the same vein, investors lost 49.51bn as market capitalization dropped to N9.50tn whilst market activity as measured by Volume and Value traded depreciated by -9.23% and -29.21% to settle at 250mn units and N2.23bn respectively.

All Sectoral Indices Sustain Losses

All Market Indices sustained negative momentum as the Oil & Gas index (-2.24%) led the losers list for the second trading session consequent on sell down in SEPLAT (-9.75%) and OANDO (-0.36%) following an operating loss report by both companies in H1:2016. The Industrial Goods (-1.45%) and Banking (-1.04%) Indices followed suit as profit taking persist in WAPCO (-3.90%), ZENITHBANK (-2.08%), UBA (-4.82%) and STANBIC (-1.19%), while the Insurance (-0.93%) and Consumer goods (-0.23%) Indices waned on the back of losses in MANSARD (-3.85%), AIICO (-1.37%), 7UP (-5.00%) and FLOURMILL (-4.98%).

Investors’ Sentiment Remain Pessimistic

Investor sentiment improved but remain negative as the market breadth (A-D Ratio) settled at 0.7x (Vs. previous 0.6x) as 17 stocks advanced and 24 stocks declined for the day. MRS (10.19%), LIVESTOCK (8.99%) and TRANSCORP (5.88%) led the gainers list, while top losers were SEPLAT (-9.75%), 7UP (-5.00%) and HONYFLOUR (-5.00%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Bearish Trend Persists in the Nigerian Bourse… NSE ASI down 4bp

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The Nigerian equities Market closed negative to extend the bearish trend for the third consecutive trading session as all sectoral Indices maintained a southward trend. The NSE ASI depreciated by 4bp to settle at 27,831.95 points, while WtD turned negative at 0.40% and YtD dipped further to -2.83% following extended profit taking in NESTLE (-2.54%), SEPLAT (-5.00%), FO (-4.46%), WAPCO (-4.99%) and NB (-0.65%). In the same vein, investors lost 3.80bn as market capitalization dropped to N9.55tn whilst market activity as measured by Volume and Value traded depreciated by -16.87% and -33.71% to settle at 2.75mn units and N3.14bn respectively.

All Sectoral Indices Dipped Further

All Market Indices extended the negative opening of the week with the Oil & Gas index (-1.87%) declining the most due to profit taking in SEPLAT (-5.00%) and FO (-4.46). Followed by the Insurance (-1.30%) and Industrial Goods (-1.04%) Indices consequent on sustained losses in MANSARD (-3.26%), CONTINSURE (-4.67%) and WAPCO (-4.99%). In the same vein, the Consumer Goods (-0.88%) and Banking (-0.13%) Indices extended bearish sentiments due to sell-off in NESTLE (-2.54%), NB (-0.65%), DANGFLOUR (-4.69%) and GUARANTY (-0.82%).

Investors’ Sentiment Sustain Negativity

Investor sentiment improved but remained in the negative territory as the market breadth (A-D Ratio) settled at 0.6x (Vs. previous 0.5x) as 17 stocks advanced and 26 stocks declined for the day. OANDO (10.06%), ETERNA (9.79%) and AIRSERVICE (4.84%) led the gainers list, while top losers were FCMB (-5.67%), FIDELITY (-5.13%) and SEPLAT (-5.00%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Nigerian Equities Caps Extends Losses As The Week Opens Red… NSE ASI down 60bp

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The Nigerian equities market closed the first trading day of the week Negative as bearish sentiment in all sectoral Indices prevailed. The NSE ASI depreciated by 60bp to settle at 27,843.00 points, while WtD stayed positive at 0.77% and YtD trimmed to -2.79% on the back-drop in NESTLE (-1.47%), NB (-2.89%), GUINESS (-1.59%), PZ (-5.38%) and CADBURY (-4.98%). In the same vein, investors lost 57.33bn as market capitalization dropped to N9.56tn whilst market activity as measured by Volume depreciated to -15.66% and Value appreciated to 4.67% to settle at 3.31mn units and 4.75bn respectively.

All Sectoral Indices Traded Southwards

All Market Indices closed negative with the Consumer goods index (-1.86%) taking the lead consequent on profit taking in NESTLE (-1.47%), NB (-2.89) and GUINNESS (-1.59%). This is followed by losses in the Industrial (-0.17%) and Oil&Gas (-0.14%) Indices due to extended sell-off in CCNN (-4.86), WAPCO (-0.25%), FO (0.4%) and OANDO (-9.46%). Lastly, the Banking (-0.11%) and Insurance (-0.07%) Indices traded southwards due to negative investor sentiments in ZENITHBANK (-1.18%), ACCESS (-1.43%), FIDELITYBK (-4.88%) and AIICO (-1.35%

Investors’ Sentiment Remain Negative

Investor sentiment remained negative as the market breadth (A-D Ratio) dipped to settle at 0.5x (Vs. previous 0.6x) as 15 stocks advanced and 28 stocks declined for the day. TOTAL (10.24%), AIRSERVICE (9.41%) and FLOURMILL (6.44%) led the gainers list, while top losers were OANDO (-9.46%), TRANSCORP (-9.16%) and PZ (-5.38%)

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

 

Market Closed the Week Bearish as Bearish Sentiments Persist in Bellwether Counters… NSE ASI down 13bp

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The Nigerian equities market closed the last trading day of the week negative as bearish sentiment in bellwether stocks dampened market performance following attractive yields in fixed income securities on the back of the upward review of the MPR to 14%. The broad market index depreciated by 13bp to settle at 28,009.93 points, while WtD gain remained positive at 1.27% and YtD waned to -2.21% on the back of profit taking in JBERGER (-4.99%), PZ (-9.71%), WAPCO (-3.45%), OKOMUOIL (-3.14%) and GLAXOSMITH (-4.99%). In the same vein, investors lost 12.72bn as market capitalization dipped to N9.62tn whilst market activity as measured by Volume and Value appreciated to 45.27% and 101.99% to settle at 3.93mn units and 4.53bn respectively.

Banking Index Closed a Lone Gainer

Most Market Indices closed negative except for the Banking index (1.64%), the index closed a lone gainer due to bargain hunting in ZENITHBANK (3.68%), GUARANTY (2.34%) and FIDELITYBK (7.89).  The Industrial Goods Index (-1.42) lost the most at consequent on extended profit taking in WAPCO (-3.45%) and CAP (-1.33%). The Consumer Goods (-0.73%) and Oil &Gas (-0.60%) Indices followed the bearish trend as a result of negative sentiments in PZ (-9.71%), FLOURMILL (-0.94%), CADBURY (-4.99%) and OANDO (-4.92%). The insurance Index (9bp) comes in last with a marginal loss on the back of sustained losses in MANSARD (-4.02%) and NEM (-4.35%).

Investors’ Sentiment Remain Negative

Investor sentiment remained negative as the market breadth (A-D Ratio) dipped to settle at 0.6x (Vs. previous 0.2x) as 18 stocks advanced and 26 stocks declined for the day. FIDELITYBK (7.89%), CONTINSURE (7.00%) and AIICO (5.71%) led the gainers list while top losers were PZ (-9.71%), TRANSCORP (-9.03%) and UBN (-5.00%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

 

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Bullish Momentum Took a Breather… NSE ASI down 56bp

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The Nigerian equities market ends its two day consecutive bullish rally following the outcome of the MPC meeting, with the NSE ASI depreciating 56bp to settle at  28,046.96 points, while WtD gain stayed positive at 0.18% and YtD declined to -2.08% on the back of profit taking in NB (-0.92%), FLOURMILL (-3.95%), ZENITHBANK (-2.92%), BERGER (-4.98%) and ETI (-2.64%). In the same vein, investors lost 54.49bn as market capitalization waned to N9.63tn whilst market activity as measured by Volume and Value depreciated by 44.63% and 53.46% to settle at 2.70mn units and 2.24bn respectively.

All Sectoral Indices Traded Southwards

All market Indices closed negative with the Insurance index (-1.46%) leading the gainers list to reversed yesterday’s gain as profit taking resurface in MANSARD (-4.68%) and NEM (-4.17%). Followed by the Banking index (-1.43%), the index shed points at the close of trading due to profit taking in ZENITH (-2.92%) and FBNH (-4.83%). The Consumer goods (-0.52%) and Oil & Gas (-0.24%) Indices traded southwards consequent on extended sell-off in NB (-0.92%), FLOURMILL (-3.95%) and OANDO (-3.12%). Lastly, the Industrial goods index (-0.03%) plunged due to profit taking BERGER (-4.98%).

Investors’ Sentiment turn Negative

Investor sentiment turned negative as the market breadth (A-D Ratio) dipped to settle at 0.2 x (Vs. previous 1.0x) as 8 stocks advanced and 27 stocks declined for the day. MRS (10.20%), PHARMDEKO (4.85%) and LAW UNION (2.00%) led the gainers list while top losers were SKYEBANK (-7.89%), BERGER (-4.98%) and CUTIX (-4.97%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

 

Bullish Rally Trail the Outcome of the MPC Meeting in the Bourse… NSE ASI Up 93bp

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Following the outcome of yesterday’s Monetary Policy Committee (MPC) meeting, the Nigerian equities market continued  the bullish rally as the NSE ASI appreciated 93bp to settle at  28,205.62 points, while WtD  waned to -0.06% and YtD dipped to -1.52% following bargain hunting in DANGCEM (2.89%), MRS (10.21%), OKOMUOIL (10.22%), UNILEVER (5.00%) and CAP (4.17%). In the same vein, investors gained 89.50bn as market capitalization dipped to N9.68tn whilst market activity as measured by Volume and Value appreciated by 70.52% and 106.25% to settle at 4.88mn units and 4.82bn respectively.

Mansard Drove Appreciation in the Insurance Index to Lead the Gainers List

Most market Indices closed positive save for the decline in the Consumer Goods index (-1.60%) and Oil & Gas index (-0.19%) due to profit taking in NB (-4.46%), 7UP (-0.75%), FO (-0.23) and OANDO (-1.94). On the flip side, the Insurance index (2.07%) gained the most on the back of bargain hunting in MANSARD (9.81%) following a 77.71% growth in PAT in H1’2016 report released today, followed by the Banking index (1.98%) as bargain hunting persist in large cap banking stocks; GUARANTY (4.96%), STANBIC (4.98%) and ZENITHBANK (2.50%), following the outcome of the MPC to increase the MPR by 200bp to 14%. In the same vein, the Industrial Goods index rose 0.92% consequent on renewed investor’s sentiment in DANGCEM (2.89%) and CAP (4.17).

Investors’ Sentiment Stayed Positive

Investor sentiment remained positive as the market breadth (A-D Ratio) to settle at 1.0x (Vs. previous 1.7x) as 24 stocks advanced and 23 stocks declined for the day. OKOMUOIL (10.22%) led the gainers list following 95.17% growth in PAT in H1’2016 result, followed by MRS (10.21%) and  MANSARD (9.81%), while top losers were SKYEBANK (-5.00%), REDSTAREX (-4.94%) and UCAP (-4.76%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

 

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Takes a Breather as CBN Monetary Policy Rate Goes Up 14%… NSE ASI Up 114bp

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In anticipation of the outcome of the Monetary Policy Committee meeting, the Nigerian equities market soar to take a breather after six consecutive days of sell-off in the bourse. The turnaround in performance today was broadly driven by domestic investors positioning ahead of an attractive rate to stimulate FPI into the market. The NSE ASI appreciated 114bp to settle at  27,945.02 points, while WtD tapered to -1.91% and YtD loss trimmed to -2.43% following bargain hunting; NB (1.12%), GUARANTY (4.98%), ETI (8.39%), ZENITHBANK (4.73%) and OANDO (10.12%). In the same vein, investors gained 108.23bn as market capitalization dipped to N9.59tn whilst market activity as measured by Volume depreciated by -24.25% and Value appreciated by 3.17% to settle at 2.87mn units and N2.34bn respectively.

The Banking Index Led the Gainers List

Most market Indices closed positive save for the decline in the Oil & Gas index (-0.31%) and Industrial Goods index (-0.16%) consequent on profit taking SEPLAT (-5.00%) and WAPCO (-0.41%). On the flip side, Banking Index (4.94%) topped the gainers list on the back of bargain hunting in GUARANTY (4.98%), ETI (8.39%) and ZENITHBANK (4.73%). The Insurance index (0.92%) and Consumer Goods index (0.40%) gained on the heels of price appreciation in MANSARD (4.90%), AIICO (1.39%), NB (1.12%) and DANGFLOUR (6.80%).

Market Breadth Improved to 1.7x

Investor sentiment remained positive as the market breadth (advancers/decliners ratio) improved to 1.7x (Vs. previous 1.5x) as 24 stocks advanced and 14 stocks declined for the day. The top gainers were OANDO (10.12%), ETI (8.39%) and ACCESS (7.55%), while top losers were AIRSERVICE (-5.56%), SEPLAT (-5.00%) and 7UP (-4.59%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Investors’ Sentiment Strengthened Despite Bearish Opening of the Week… NSE ASI down 11bp

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As the market awaits the outcome of the CBN Monetary Policy Committee meeting which is expected tomorrow afternoon, the Nigerian equities market opened the first trading day of the week negative albeit marginally to extend the sell-off in the bourse for the sixth consecutive trading session as the tepid macroeconomic outlook continues to dampen investor’s sentiment. The performance in the market at the close of trading was weakened by losses in Industrial and Oil & Gas Sectors. The NSE ASI depreciated 11bp to settle at  27,629.90 points, while WtD waned by -3.86% and YtD dipped by -3.53% following sell-off in bellwether counters; FO (-9.74%),  SEPLAT (-5.00%), DANGCEM (-2.51%), GUINESS (-1.53%) and WAPCO (-0.69%). In the same vein, investors lost 10.15bn as market capitalization dipped to N9.48tn whilst market activity as measured by Volume and Value appreciated by 48.01% and 7.29% to settle at 3.78mn units and N2.26bn respectively.

Most market Indices closed Bullish save for the Oil & Gas (-3.89%) and Industrial Goods (-1.57%) Indices consequent on profit taking in FO (-9.74%), SEPLAT (-5.00%) and WAPCO (-0.69%). On the flip side The Consumer goods (2.12%) and Banking (1.72%) Indices advanced at the close of trading following bargain hunting in NB (5.00%), ETI (5.00%), ZENITHBANK (1.82%)     and GUARANTY (1.28%). Additionally, price appreciation in CUSTODYINS (4.99%) and MANSARD (4.62%) advanced the Insurance Index by 51bp.

Investor sentiment remained positive as market breadth (advancers/decliners ratio) increased to 1.5x (from previous 1.4x) as 26 stocks advanced and 17 stocks declined for the day. The top gainers were led by OANDO (9.96%), TRANSCORP (9.63%) and UCAP (5.26%), while top losers were FO (-9.74%), SEPLAT (-5.00) and AVONCROWN (-4.30).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Tepid Macroeconomic Outlook Dampen Investors Sentiment… NSE ASI down 121bp

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The Nigerian equities market closed the last trading day of the week bearish to extend the negative opening of the week for five consecutive trading days as tepid outlook for the economy dampen investors sentiment. Performance was broadly mixed with most market indices trending southwards to close NSE ASI at 1.21% lower to settle at  27,659.44 points, while WtD loss dipped further by -3.64% and YtD waned -3.43% following sell-off in DANGCEM(-4.27%), ETI (-4.30%), STANBIC (-3.63%), CUSTODYINS (-9.52%) and CADBURY (-1.32%). In the same vein, investors lost 116.03bn as market capitalization dipped to N9.49tn whilst market activity as measured by Volume and Value appreciated by 12.59% and 17.37% to settle at 255.73mn units and N2.11bn respectively.

Most market Indices closed Bullish save for the Industrial (-2.24%) and Banking (-0.39%) Indices consequent on profit taking in DANGCEM (-4.27%), ETI (-4.30%), STANBIC (-3.23%) and UCAP (-5.00%). The Consumer (1.18%) and Oil & Gas (0.40%) Indices gained due to Bargain Hunting in NESTLE (1.80%), NB (0.74%), INTBREW (4.99%), GUINNESS (0.55%) and OANDO (4.07%). Conversely, the appreciation in the Insurance Index (0.14%) was at a result of positive investor sentiments in CONTINSURE (3.92%).

Investor sentiment returned positive as market breadth (advancers/decliners ratio) increased to 1.43x (from previous 0.2x) as 20 stocks advanced and 14 stocks declined for the day. The top gainers were led by INTBREW (4.99%), BERGER (4.97%) and REDSTAREX (4.88%), while top losers were CUSTODYINS (-9.52%), UCAP (-5.00) and ETI (-4.30).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Banking Sector Topped the Losers List as Sell-Off Persists…NSE ASI down 79bp

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The Nigerian equities market extended the bearish rally for the fourth consecutive as all market indices trended southwards to close at 79bp as profit taking outweighed bargain hunting to diminish the NSE ASI by 0.79% to settle at 27,997.29 points, while WtD loss deepened at -2.55% and YtD plunged to -2.25% following sell-off in NESTLE (-1.76%), CADBURY (-5.53%), GUINNESS (-0.87%), STANBIC (-5.00%) and GUARANTY (-3.23%). In the same vein, investors lost 76.89bn as market capitalization dipped to N9.61tn whilst market activity as measured by Volume and Value depreciated by 26.66% and 13.53% to settle at 227.13mn units and N1.80bn respectively.

All market Indices closed bearish with the Banking index (-2.56%) leading consequent on profit taking in STANBIC (-5.00%) and GUARANTY (-3.23%). The Oil & Gas (-0.92%) and Insurance (-0.32%) Indices extended bearish sentiments due to sell-off in OANDO (-8.72%), AIICO (-3.95%) and MANSARD (-0.51%). Additionally, losses in the Consumer goods index (24bp) and Industrial goods index (1bp) persists due to negative investor sentiments  in NESTLE (-1.76%), CADBURY (-5.53) and WAPCO (-0.25%).

Investor sentiment remained negative as the market breadth (advancers/decliners ratio) trimmed to 0.2x (from previous 0.3x) as 6 stocks advanced and 34 stocks declined for the day. The top gainers were led by SKYEBANK (8.97%) for the fourth consecutive trading session followed by WEMABANK (6.85%) following 10.6% growth in PAT for H1’16 and AGLEVENT (4.30%), while top losers were OANDO (-8.72%) on the back of warning of material decline in performance for H1’16, DIAMONBNK(-8.62%) and TRANSCORP (-8.51%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Dipped Further to close the Day Bearish… NSE ASI down 94bp

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The Nigerian equities market closed the trading day bearish in extension of yesterday’s loss for the third consecutive day of the week with most sectoral indices closing negative as profit taking persists depreciating the NSE ASI by 0.94% to settle at 28,221.18 points, while WtD loss deepened at -2.20% and YtD plunged to -1.47%% following Sell-off in DANGCEM (-1.32%), TOTAL(-1.10%), STANBIC (-4.83%), ZENITHBANK(-3.97%) and OANDO (-9.56%). In the same vein, investors lost 91.83bn as market capitalization dipped to N9.69tn whilst market activity as measured by Volume and Value appreciated by 27.98% and 33.37% to settle at 309.71mn units and N2.08bn respectively.

Most market Indices closed bearish save for the Consumer goods index (4bp) due to bargain hunting  in PREMBREW(4.98%) and NB (0.04%) which raised the index to a positive close. On the flip side, the Banking index (1.34%) and Oil & Gas Index (1.22%) extended bearish sentiments consequent on sell-off in STANBIC (-4.83%), ZENITHBANK (-3.97%) and OANDO (-9.56%).  The Industrial index (87bp) and Insurance index (52bp) were dragged lower by sell-off in DANGCEM (-1.32%), WAPCO (-0.43) following net loss in its recently released half year 2016 result, LAWUNION (-7.27%) and MANSARD (-1.50%).

Investor sentiment remained negative and weak as the market breadth (advancers/decliners ratio) remained flat at 0.3x as 8 stocks advanced and 27 stocks declined for the day. The top gainers were led by SKYEBANK (8.33%) for the third consecutive trading session flowed by PREMBREW (4.98%) and TRANSEXPR (4.95%), while top losers were OANDO (-9.56%), LAWUNION (-7.27%) and TRANSCORP (-7.24%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Sell-off in Bellwether Counters Closed Market Bearish… NSE ASI down 88bp

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In extension of yesterday’s negative close, the Nigerian bourse closed negative for the second consecutive trading day with most market indices trending southwards as profit taking persists bellwether counters, plunging the NSE ASI by 0.88% to settle at 28,488.56 points, while WtD  closed negative by -1.13% and YtD trimmed to 0.54%. Sell-off in WAPCO (-5.00%), GUARANTY (-3.94%), FLOURMILL (-3.59%), OANDO(-9.70%) and STANBIC (-0.58%) dragged the market to a negative close. In the same vein, investors lost 86.44bn as market capitalization dipped to N9.78tn whilst market activity as measured by Volume and Value depreciated by -23.32% and -9.43% to settle at 242.00mn units and N1.56bn respectively.

Most market Indices closed bearish save for the bargain hunting NB (1.47%) and CADBURY (0.63%) which pulled the Consumer Goods index (42bps) to a positive close. On the flip side, the Banking and Industrial Goods Index pared 288bp and 203bp consequent on sell-off in GUARANTY (-3.94%) following the company’s late filling for extension of its Q2 earnings report, STANBIC (-3.74%) and WAPCO (-5.00%).  The Oil & Gas and Insurance  indices waned by 123bp and 37bp respectively on the heels of profit taking in OANDO (-9.70%) and Mansard (-2.91%).

Investor sentiment remained negative and weak as the market breadth (advancers/decliners ratio) closed flat at 0.3x as 7 stocks advanced and 26 stocks declined for the day. The top gainers were SKYEBANK (9.09%), AIICO (4.11%) and UACN (2.00%), while top losers were OANDO(-9.70%), WAPCO (-5.00%) and TIGERBRANDS (-5.00%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

 

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

 

Profit-Taking in Bellwether Stocks Dampens Market Indices … NSE ASI down 23bp

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Trading activities in the Nigerian bourse started the new week on a bearish note with lacklustre performance across key sectors, as against the positive close of stocks in the previous week. The NSE ASI declined by 23bp to settle the broad market index lower at 28,740.24 points while WtD closed negative at -0.40% and YtD appreciated by 0.34%. Market activity weakened following profit taking in WAPCO (-5.08%), NESTLE (-0.23%), NB (-0.71%), CADBURY (-1.84%) and OANDO (-4.07%) which pulled the market to a negative close. In the same vein, investors lost -22.40bn as market capitalization dipped to N9.87tn whilst market activity as measured by Volume  and Value appreciated by 15.80% and 1.64% to settle at 315.60mn units and N1.72bn respectively.

Most market Indices closed bearish save for the bargain hunting pull in FO (8.11%) to advance the Oil & Gas index by 2.08% as a lone gainer for the day. On the flip side, the Industrial Goods Index pared 212bp to top the losers list consequent on 5.08% sell-off in WAPCO.  The Insurance and Consumer Goods indices waned by 208bp and 42bp respectively on the heels of profit taking in MANSARD (-1.90%), AIICO (-2.67%) and NESTLE (-0.23%), NB (-0.71%). In the same vein, price downtrend in ETI (-1.79%)  and GUARANTY (-0.79%) placed the Banking index on the laggards trend.

Investor sentiment closed negative and weak as the market breadth (advancers/decliners ratio) closed at 0.3x (as against previous 0.5x) as 10 stocks advanced and 29 stocks declined for the day. The top gainers were SKYEBANK (10.00%, FO (8.11%) and NPFMCRFBK (4.26%), while top losers were LAW UNION (-8.33%), WAPCO (-5.08%) and ARBICO (-4.96%).

 

Rally in Industrial and Oil & Gas Indices Closed the Week Bullish … NSE ASI Up 36bp

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After two days of consecutive sell-off, the Nigerian bourse halted bearish sentiments to close the week Bullish with most market indices trending northward consequent on gains in the Oil & Gas and Industrial Goods Index. The NSE ASI appreciated by 36bp to settle the broad market index at 28,805.45 points while WtD closed negative -0.17% and YtD gain appreciated by 0.57%. Market activity strengthened as bargain hunting in FO (10.24%), WAPCO (8.19%), STANBIC (3.40%), FLOURMILL (1.41%) and ZENITH (1.42%) pulled the market to a positive close. In the same vein, investors gained N35.16bn as the market capitalization moved to N9.89tn whilst market activity as measured by Volume traded appreciated by 33.87% and Value traded waned by 31.96% to settle at 272.53mn units and N1.70bn respectively.

Most market Indices closed bearish save for the Industrial goods index (3.26%) and Oil & Gas index (2.65%), following renewed sentiment in FO (10.24%), WAPCO (8.19%), and PORTPAINT (1.09%). On the flip side, the Banking Index topped the losers list to shed 58bp consequent on profit taking in ACCESS (-2.17%), UBA (-2.13%), FIDELITYBK (-1.72%) and SKYEBANK (-1.64%) following asset quality concern. The Consumer Goods and Insurance Indices lost 15bp and 7bp respectively on the heels of a sell-off in VITAFOAM (-5.18%), GLAXOSMITH (-3.23%), PZ (-1.90%) and LAW UNION (-3.23%).

Investor sentiment closed negative but and lower as the market breadth (advancers/decliners ratio) closed at 0.5x (as against previous 0.7x) as 12 stocks advanced and 24 stocks declined for the day. The top gainers were FO (10.24%), WAPCO (8.19%) and LIVESTOCK (3.88%), while top losers were VITAFOAM  (-5.18%), MOBIL (-4.41%) and AFRIPUD (-4.33%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

 

NSE ASI Dips Further as Market Sentiment Picks Up… NSE ASI Down 10bp

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The Nigerian bourse extended the losing streak for the second consecutive trading session and the third trading session of the week after taking a breather on Tuesday. The broad market index dipped further southwards as bearish sentiments outweighed bargain hunting to dampen NSE ASI by 10bp to settle at 28,703.09 points while WtD closed negative 0.53% and YtD trimmed further to 0.21%. Market activity was dragged southwrads by sell-off in most indices pressured by mixed sentiment in GUINNESS (-3.33%), MRS (-5.00%), PZ (-3.23%), GUARANTY (-2.94%) and ZENITH (-0.92%). In the same vein, investors lost N9.39bn as the market capitalization waned to N9.86tn whilst market activity as measured by Volume (6.98%) and Value (6.49%) rose to settle at 203.6mn units and N2.50bn respectively.

Most market Indices closed bearish save for the Oil & Gas and Consumer goods indices, following renewed sentiment in FO (5.00%), UNILEVER (5.00%), NB (0.71%) and GLAXOSMITH (2.78%). On the flip side, the Banking Index topped the losers list to shed 145bp dragged lower by profit taking in GUARANTY (-2.94%), ZENITHBANK (-0.92%) and ACCESS (-1.43%). The Industrial and Insurance Indices lost 1bp and 62bp respectively on the heels of sell-off in CUTIX (-4.71%), MANSARD (-2.33%) and AIICO (-3.85%).

Investor sentiment closed negative but strong as the market breadth (advancers/decliners ratio) closed at 0.7x (as against previous 0.6x) as 16 stocks advanced and 22 stocks declined for the day. The top gainers were UCAP (9.88%), HONYFLOUR (9.52%) and UNILEVER (5.00%), while top losers were SKYEBANK (-8.96%), MRS(-5.00%) and NPFMCRFBK(-4.85%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Lost Yesterday’s Momentum… NSE ASI Down 44bp

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Trading activities in the Nigerian bourse closed southwards as bearish sentiments outweighed bargain hunting at the close of the trading session. The NSE ASI depreciated by 44bp to settle the broad market index at 28,730.43 points while WtD closed negative 0.43% and YtD trimmed to 0.31%. Market activity was weakened by sell-off in most indices pressured by FO (-4.63%), DANGCEM(-0.52%), GLAXOSMITH (-4.10%), NB (-0.53%) and CADBURY (-3.03%). In the same vein, investors lost N43.59bn as the market capitalization depreciated to N9.87tn whilst market activity as measured by Volume (-8.34%) and Value (-35.66%) declined to settle at 190.30mn units and N2.34bn respectively.

Most market Indices closed negative save for the reversal in the Insurance Index (1.40%) to remain a lone gainer consequent on bargain hunting in MANSARD (4.37%) and CONTINSURE (2.70%). On the flip side, the Oil & Gas Index topped the losers list to shed 160bp on the back of FO (-4.63%) and CONOIL (-0.43%). The Banking and Industrial Goods Indices lost 0.87% and 0.22% respectively on the heels of ETI (-2.30%) and GUARANTY (-0.87%) and DANGCEM (-0.52%). In the same vein the Consumer Goods Index dipped 0.16% in effect of GLAXOSMITH (-4.10%) and NB (-0.53%).

Investor sentiment closed negative but strong as the market breadth (advancers/decliners ratio) closed at 0.6x (as against previous 0.5x) as 15 stocks advanced and 25 stocks declined for the day. The top gainers were TRANSCORP (9.52%), HONYFLOUR (8.89%) and MANSARD (4.32%), while top losers were SKYEBANK (-8.22%), FO (-4.63%) and GLAXOSMITH (-4.10%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Halt Five Days of Consecutive Sell-Off… NSE ASI Up 15bp

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The Nigerian bourse closed bullish to halt the 5-day losing streak with most market indices trending northwards. The NSE ASI appreciated by 0.15% after five days of consecutive decline to settle broad market index at 28,857.34 points while WtD closed negative 1.51% and YtD returned back to the positive territory at 0.75%. Market activity was strengthened by bargain hunting in most counters that have experienced decline in prices; NB (2.85%), WAPCO (1.70%), ZENITHBANK (3.40%), UACN (1.15%) and ACCESS (3.70%). In the same vein, investors gained N14.45bn as the market capitalization appreciated to N9.92tn whilst market activity as measured by Volume (17.20%) and Value (50.22%) traded rose  to settle at 207.62mn units and N3.64bn respectively.

The market performance was mixed as most of the indices closed positive save for the continuous downward trend in the Oil & Gas index (-2.45%) and Insurance index (-1.31%), consequent on profit taking in OANDO (-5.91%), FO (-5.00%), NEM (-4.76%)  and MANSARD (-4.63%). On the flip side, the Banking Index (98bp) and Consumer Goods index  (94bp) led the gainers list following bargain hunting in FIDELITYBK (4.39%), DIAMONDBNK (3.78%), NB (2.85%) and UACN (1.15%). While the Industrial Goods index (61bp) appreciated marginally to reverse five days of consecutive decline as bargain hunting resurface in WAPCO (1.70%).

Investor sentiment closed negative as the market breadth (advancers/decliners ratio) closed flat at 0.5x as 14 stocks advanced and 29 stocks declined for the day. The top gainers were NAHCO (4.92%), FIDELITYBK (4.39%) and AIICO (4.11%), while top losers were GLAXOSMITH (-9.67%), SKYEBANK (-7.59%) and TRANSEXPR (-7.27%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Extends Bearish Sentiments… NSE ASI Down 14bp

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In extension of the two day negative close that characterised the previous trading week (Monday and Friday), the bears again held sway to extend losses as the new trading week opened negative with the NSE ASI down 14bp. The Nigerian equities market closed the trading session negative as profit taking persist, plunging the NSE ASI by 0.14% to settle at 28,815.32 points, while WtD loss closed negative by -0.66%  and YtD turned negative by -0.60%, following sell-offs in most indices; WAPCO (-5.03%), STANBIC (-5.00%), INTBREW (-4.04%), OANDO (-7.45%) and PZ (-1.30%). In the same vein, investors lost N13.64bn as the market capitalization closed lower at N9.91tn below last week’s level of N10trn, while market activity as measured by Volume and Value traded rose as Volume and Value traded appreciated by 17.20% and 50.22% to settle at 275.36mn units and  N3.44bn respectively.

The Industrial Goods index (-2.11%) led the losers list for the third consecutive trading session following profit taking in WAPCO (-5.03%) and DANGCEM (-0.16%). Followed by the Insurance Index (-1.19%) and Oil & Gas Index (-1.16%), both indices extended bearish performance on the heels of sell-offs in MANSARD(-4.85%), CONTINSURE (-1.74%) and OANDO (-7.45%)  whilst the Consumer Goods index  lost 7bp in effect of INTBREW (-4.04) and PZ (-1.30%). On the flip side Banking Index appreciated (1.75%) closing a lone gainer consequent on bargain hunting in GUARANTY (4.35%) and ZENITH (2.72%).

Investor sentiment closed negative but stronger as the market breadth (advancers/decliners ratio) settled at 0.5x (against previous 0.3x) as 16 stocks advanced and 30 stocks declined for the day. The top gainers were GUARANTY (4.35%), NEM(3.96%) and CUTIX (3.03%), while top losers were TRANSCORP (-9.37%), SKYEBANK (-9.20%) and DIAMONDBNK (-7.96%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

 

MARKET LAST WEEK (Review)

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  • Market activity closed the week soft following the extended public holiday with just two trading sessions in the week. The Nigerian equities market closed the week bearish further dampened by a sell-off in bellwether counters for the fourth consecutive trading session and for the third consecutive negative close of the week, with all market indices trending southwards in extension of the bearish sentiments that trailed market activities to a negative close in the previous trading week.
  • Following the bearish sentiment recorded during the week, the broad market index plunged 1.54% WoW to settle at 28,854.98 points, while YtD gains trimmed to 74bp following sell-off across board
  • Market sentiment closed negative and lower during the week to settle at 0.1x (Vs. 0.4x in the previous week) as 8 stocks advanced against 48 Decliners. Similarly, the market activity was broadly bearish as Average Volume and Value traded declined by 35.07% and 46.60% to 188.89mn units and N1.82bn respectively, which is expected given only two trading days in the week.
  • Performance was negative across board with all sector indicators closing lower W-o-W, while the worst performing stocks were SKYEBANK, DIAMONDBNK, HONEYWELL, BETAGLASS and GLAXOSMITH (-17.14%, -12.61%, -11.80%, 9.74% and -9.73% respectively).

 

MARKET THIS WEEK (Outlook)

 

  • Our market sentiment for the outgone week settled at 0.1x from 0.4x last week, indicating a downtrend in sentiment for the third consecutive week following a sell-off of 1.54% during the two trading days of the week.

 

  • With the Q2:2016 earnings season approaching, we expect investors to remain upbeat on traditional interim dividend paying stocks, while a lower earnings report by most companies (especially the consumer goods companies) following the constrained operating environment in the first half of the year might trigger a sell-off in the weeks ahead.

 

  • Also, we expect the various policy actions by both the fiscal and monetary authorities in the first half of the year (enforcement of the budget, the deregulation of the downstream Oil & Gas sector and the introduction of flexibility in the FX market) to reflate the economy, set it on the path of growth and improve economic activities in H2:2016

 

  • In the week ahead, we anticipate an uptick in trading pattern as domestic investor’s frontload ahead of the earnings season to hunt bargain. In the light of the above, we advise investors to trade cautiously and maintain a medium to long term investment horizon in stocks with strong fundamentals as they keep watch of unfolding events in the economy.

Sell-Off In Bellwether Counters Sustained Losing Streak to Open the Week Bearish… NSE ASI Down 102bps

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The Industrial Goods index (-2.08%) led the losers list  following sell-off in WAPCO (-4.29%) and DANGCEM (52bps) for the third consecutive trading session. Followed by the Banking Index (-1.08%) and Consumer Goods index (-93bps), both indices extended bearish performance for the third consecutive trading session on the back of profit taking in STANBIC (-4.38%), ZENITHBANK (-3.08%), SKYEBANK (-9.52%), GUINNESS (-5.21%) and NB (-84BPS), whilst the Oil & Gas index (-83bps) and Insurance index (-82bps) were dragged lower by losses in FO (-5.00%), TOTAL (-4.48%), MANSARD (-4.80%) and NEM (-1.96%).

Investor sentiment declined further as the market breadth (advancers/decliners ratio) closed lower at 0.3x (Previous: 0.4x) as 10 stocks advanced and 31 stocks declined for the day. The top gainers were OANDO (10.16%), VANLEER (4.98%) and REDSTAREX (4.88%), while top losers were SKYEBANK (-9.52%), HONYFLOUR (-6.21%) and GUINNESS (-5.21%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Extended Losing Streak to Open the Third Quarter Bearish… NSE ASI Down 99bps

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The Nigerian equities market closed the last trading day of the week and the first trading day of the quarter bearish to extend the negative opening of the week on the back of global risk-off sentiment. The NSE ASI depreciated by 0.99% to exacerbate yesterday’s loss with a negative close of the week for the second consecutive week. The broad market index settled at 29,305.40 points while WtD loss deepen at 4.39%, while the YtD loss trimmed to close at 2.32% following continuous sell-offs in bellwether counters in most sectoral indices; NB (-5.00%), GUINNESS (-3.92%), WAPCO (-4.77%), ETI (-3.00%) and STANBIC (-2.78%). In the same vein, investors lost N10.54bn to settle the market capitalization at N10.08tn whilst market activity as measured by Volume and Value traded weakened as Volume and Value traded waned by 44.62% and 52.15% to settle at 189.74mn units and N2.23bn respectively.

Most market indices closed southwards save for the renewed momentum in the Oil & Gas index (63bps), following bargain hunting in CONOIL (10.17%) and OANDO (2.92%). On the flip side, the Consumer Goods index (-2.38%) and the Industrial Goods index (-2.07%) extended bearish sentiment for the second consecutive trading session as sell pressure in WAPCO (-4.77%), DANGCEM (-1bps), NB (-5.00%) and GUINNESS (-3.92%) drove the index southwards whilst the Banking index (-93bps) and Insurance index  (43bps) were dragged lower by losses in ETI (-3.00%), STANBIC (-2.78%), ZENITHBANK (-1.06%) and CONTINSURE (-4.35%).

Investor sentiment closed negative as the market breadth (advancers/decliners ratio) closed lower to settle at 0.7x (Previous: 0.9x) as 24 stocks advanced and 17 stocks declined for the day. The top gainers were CONOIL (8.51%), UNIONDICON (7.93%) and NEIMETH (5.00%), while top losers were HONYFLOUR (-4.96%), NB (-4.71%) and AGLEVENT (-4.69%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

 

Bearish Sentiment Resurface, Market Closed 16.96% QTD… NSE ASI Down 72bps

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The Nigerian equities market closed the last trading day of the second quarter bearish, with most market indices trending southwards following portfolio rebalancing by asset managers. The NSE ASI shed by 0.72% after a day of positive close following three days of consecutive decline (Friday, Monday and Tuesday), to settle at 29,597.79 points to close the WtD at negative 4.74%, while YtD trimmed to 3.34% with a QtD return of 16.96%. Market activity was dampened by broad based profit taking in most indices; SEPLAT (-2.94%), FO (-1.90%), NB (-1.44%), DANGCEM (-1.03%) and ETI  (3.09%). In the same vein, investors lost N73.97bn to settle the market capitalization at N10.18tn whilst market activity as measured by Volume and Value traded strengthened  as Volume and Value traded rose by 12.03% and 62.84% to settle at 342.63mn units and N4.65bn respectively.

Most market indices closed southwards save for the bargain hunting in the Insurance indices (74bps), a reversal of yesterday’s profit taking following gains in NEM (8.51%) and AIICO (2.82%). On the flip side, the Oil & Gas index  (-85bps) and the Banking index (-79bps) declined to shed yesterday’s gains as sell pressure drove SEPLAT (-2.94%), FO (-1.90%), ETI (-3.09%) and ZENITHBANK (-1.44%) southwards whilst the Industrial Goods index (-2.48%) and Consumer Goods index (58bps) were dragged lower by losses in DANGCEM (-1.03%), NB (-1.44%), CHAMPION (-4.71%) and NESTLE (-2bps).

Investor sentiment turned negative at the close of trading as the market breadth (advancers/decliners ratio) closed lower to settle at 0.9x (Previous: 1.3x) as 21 stocks advanced and 24 stocks declined for the day. The top gainers were NEM (8.51%), FIDSON (7.93%) and CONOIL (5.00%), while top losers were TRANSEXPR (-4.96%), CHAMPION (-4.71%) and PORTPAINT (-4.69%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Closed Bullish, Snapped 3-Day Losing Streak… NSE ASI Up 80bps

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The Nigerian bourse closed bullish to halt the 3-day losing streak, with most market indices trending northwards. The NSE ASI appreciated by 0.80% after three days of consecutive decline with a cumulative sell-off of 4.89% between Friday and Tuesday against the 7.80% appreciation in the previous week, to settle at 29,812.91 points while WtD closed negative 1.05% and YtD propped up to 4.09%. Market activity was strengthened by broad based buying across the indices; FO (8.98%), JBERGER (4.99%), 7UP (2.56%), DANGCEM (1.08%) and GUARANTY  (1.20%). In the same vein, market capitalization  gain by N81.72bn to N10.25tn whilst market activity as measured by Volume and Value traded was mixed as Volume traded appreciated by 19.81%, while Value traded eased by 13.54% to settle at 305.81mn units and N2.87bn respectively.

The bourse witnessed a broad based bargain hunting, save for the decline in the Insurance index (-74bps), consequent on price downturn in MANSARD (-3.10%) and CONTINSURE (-1.75%) to close a lone loser. On the flip side, the Banking index (2.00%) recorded the largest appreciation of the day following bargain hunting in WEMABANK (8.00%), SKYEBANK (4.81%) and FIDELITYBK (4.72%). Similarly, the Industrial Goods index (60bps) and Oil & Gas index (40bps) rose on the back of gains in DANGCEM (98bps) and FO (1.59%) whilst the Consumer Goods Index (1bps) improved marginally as appreciation in TIGERBRANDS (1.67%), 7UP (1.43%) and FLOURMILL (1.34%) muted the losses in FIDSON (6.97%), CHAMPION (4.90%) and HONYFLOUR (4.66%).

Investor sentiment turned positive at the close of trading as the market breadth (advancers/decliners ratio) closed higher to settle at 1.3x (Previous: 0.4x) as 24 stocks advanced and 18 stocks declined for the day. The top gainers were WEMABANK (8.00%), JBERGER (4.99%) and BERGER (4.92%), while top losers were FIDSON (-6.97%), ASHAKACEM (-5.00%) and CHAMPION (-4.90%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Retreats for the Third Consecutive Trading Session… NSE ASI Down 90bps

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The Nigerian equities bourse extended the losing streak for the third consecutive trading session to claw back the gains in the previous week, with most market indices trending southwards. The Nigerian equities market closed the trading session negative as profit taking persist in market bellwethers, to plunge the NSE ASI further by 0.90%, to settle at 29,575.24 points while WtD and YtD  trimmed to 52bps and 3.26% respectively. Market activity was weakened by sell-offs in TOTAL (-5.00%), NESTLE (-0.59%), NB (-2.78%), GUINNESS (-3.18%) and GUARANTY (-2.96%). In the same vein, market capitalization lost N92.34bn to close at N10.17tn, while market activity was broadly bearish as Volume and Value traded declined by 29.34% and 17.60% to close at 255.25mn units and N3.30bn respectively.

The Consumer Goods index (1.65%)  and Banking index (-1.61%)  recorded the largest beating of the day following sell-off in HONYFLOUR (-4.93%), CHAMPION (-4.67%), LIVESTOCK (-3.51%), FBN (-5.93%), STERLNBANK (-4.64%) and UBN (-4.03%). Similarly, the Insurance index (-35bps) and Oil & Gas index (-34bps) posted marginal losses on the back of profit taking in AIICO (-4.05%), NEM (-3.23%), CONTINSURE (87bps), OANDO (-5.71%) and  TOTAL (-5.00%), while the Industrial Goods Index closed flat.

Market breadth (advancers/decliners ratio) closed flat at 0.4x (Previous: 0.4x) as 15 stocks advanced and 34 stocks declined for the day. The top gainers were REDSTAREX (9.90%), NEIMETH (9.17%) and LAWUNION (5.00%), while top losers were TRANSCORP (-9.05%), FBNH (-5.93%) and OANDO (-5.71%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

 

Market Stretched Losing Streak for the Second Consecutive Session… NSE ASI Down 2.63%

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The losing streak in the Nigerian equities market stretched to the second consecutive session as profit taking persist in the bourse following three consecutive days of significant price appreciation (7.80% Tuesday to Thursday) across the board. Consequently, the NSE ASI depreciated for the second consecutive trading session by 2.63%, driving the benchmark index lower at  29,843.79 points while WtD and YtD eased to 3.73% and 4.19% respectively. The negative performance at the close of trading was triggered by profit taking in bellwether counters; SEPLAT (-4.98%), FO (-5.00%), DANGCEM (-4.04%), GUINNESS (-1.70%) and GUARANTY (-4.76%). In the same vein, market capitalization shed N277.11bn to close at N10.26tn, while market activity as measured by Volume and Value traded was mixed as Volume traded decline by 18.74% to 361.22mn units and Value traded appreciated by 8.30% to N4.01bn

Most market indices closed southwards save for the marginal appreciation in the Insurance index (31bps), following gains in CONTINSURE (2.68%) and MANSARD (78bps). On the flip side, the Banking Index (-4.08%) and Oil & Gas index (-3.56%) extended declines for the second consecutive trading session on the back of profit taking in ZENITHBANK (-6.12%), STANBIC (-5.00%), GUARANTY (-4.76%), FO (-5.00%) and SEPLAT (-4.98%), whilst the Industrial Goods index (-2.48%) and Consumer Goods index (58bps) were dragged lower by losses in DANGCEM (-4.04%), DANGSUGAR (-4.93%), FLOURMILL (-4.51%), and TIGERBRANDS (-3.65%).

Investor sentiment declined further as the market breadth (advancers/decliners ratio) closed flat 0.4x (Previous: 0.7x) as 15 stocks advanced and 40 stocks declined for the day. The top gainers were FIDSON (9.91%), JBERGER (5.00%) and GLAXOSMITH (4.97%), while top losers were UCAP (-7.94%), ZENITHBANK (-6.12%) and STANBIC (-5.00%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

 

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

 

Market Stretched Losing Streak for the Second Consecutive Session… NSE ASI Down 2.63%

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The losing streak in the Nigerian equities market stretched to the second consecutive session as profit taking persist in the bourse following three consecutive days of significant price appreciation (7.80% Tuesday to Thursday) across the board. Consequently, the NSE ASI depreciated for the second consecutive trading session by 2.63%, driving the benchmark index lower at  29,843.79 points while WtD and YtD eased to 3.73% and 4.19% respectively. The negative performance at the close of trading was triggered by profit taking in bellwether counters; SEPLAT (-4.98%), FO (-5.00%), DANGCEM (-4.04%), GUINNESS (-1.70%) and GUARANTY (-4.76%). In the same vein, market capitalization shed N277.11bn to close at N10.26tn, while market activity as measured by Volume and Value traded was mixed as Volume traded decline by 18.74% to 361.22mn units and Value traded appreciated by 8.30% to N4.01bn.

Most market indices closed southwards save for the marginal appreciation in the Insurance index (31bps), following gains in CONTINSURE (2.68%) and MANSARD (78bps). On the flip side, the Banking Index (-4.08%) and Oil & Gas index (-3.56%) extended declines for the second consecutive trading session on the back of profit taking in ZENITHBANK (-6.12%), STANBIC (-5.00%), GUARANTY (-4.76%), FO (-5.00%) and SEPLAT (-4.98%), whilst the Industrial Goods index (-2.48%) and Consumer Goods index (58bps) were dragged lower by losses in DANGCEM (-4.04%), DANGSUGAR (-4.93%), FLOURMILL (-4.51%), and TIGERBRANDS (-3.65%).

Investor sentiment declined further as the market breadth (advancers/decliners ratio) closed flat 0.4x (Previous: 0.7x) as 15 stocks advanced and 40 stocks declined for the day. The top gainers were FIDSON (9.91%), JBERGER (5.00%) and GLAXOSMITH (4.97%), while top losers were UCAP (-7.94%), ZENITHBANK (-6.12%) and STANBIC (-5.00%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

WEEKLY STOCK RECOMMENDATION- 27/06/2016

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MARKET LAST WEEK (Review)

  • The Nigerian equities market opened the week lower on profit taking across board following three consecutive days of appreciation in the index. The bourse reversed the losses on Tuesday to Thursday as buying sentiment across board drove the benchmark index level to an 8-month high of 30,000pts, while the market took a breather on Friday as the Brexit vote sparked global risk-off sentiment. Overall, the broad market index closed the week positive driving all the sectoral indices northwards.
  • Following the gains recorded during the week, the broad market index appreciated for the second consecutive week following 4.79% WoW gain, while YtD appreciation gained momentum to settle at 7.01%, driving benchmark index above 30,000pts for the first time in 2016.
  • Market sentiment eased during the week to settle at 1.3x (Vs. 2.1x in the previous week) as 40 stocks advanced against 32 Decliners. Similarly, the market activity was broadly bullish as Average Volume and Value traded improved by 10.60% and 29.36% to 477.36m units and N5.28bn respectively.
  • Performance was positive across board with all sector indicators closing higher W-o-W, while the top performing stocks were GLAXOSMITH, CHAMPION, TRANSCORP, NEIMETH and FIDSON (55.56%, 44.35%, 31.58%, 26.67% and 16.84% respectively).

MARKET THIS WEEK (Outlook)

  • Our market sentiment for the outgone week settled at 1.3x from 2.1x last week, indicating a downtrend in sentiment following a sell-off of 2.99% (Monday and Friday).
  • Following the settlement of pent-up FOREX demand by CBN last week with average interbank rate closing at N282.00/US$1.00 and the kick-off the Naira-settled OTC FX Futures market today, we believe the current FX structure will continue to drive investors’ appetite (both local and foreign) as a result of lowered FX risk in the process of repricing equity investments.
  • Also, with the Q2:2016 earnings season approaching, we expect investors to remain upbeat on traditional interim dividend paying stocks, while a lower earnings report by most companies following the constrained environment during the first half of the year might trigger a sell-off in the weeks ahead.
  • In the week ahead, we expect the market to sustain the bullish rally amidst marginal profit taking. Overall, we anticipate a see-saw trading pattern with a bullish bias to persist into this week.
  • In the light of the above, we advise investors to trade cautiously and maintain a medium to long term investment horizon in stocks with strong fundamentals as they keep watch of unfolding events in the economy.

The Benchmark Index Closed the Week Positive to Hit 7-Months High… NSE ASI Up 2.66%

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The bullish rally in the Nigerian equities market garnered momentum at the close of trading as investors remained stoked by the announcement of the guidelines for the operation of the new flexible FX market which is expected to take effect on Monday, June 20, 2016. Consequently, the NSE ASI (2.66%) appreciated for the third consecutive trading session, to close the week positive, driving the benchmark index level to a 7-month high of 29,247.27 points while WtD and YtD advanced to 7.40% and 2.11% respectively. The positive performance was triggered by front loading by domestic investors across the board; DANGCEM (5.00%), NB (5.01%), GUINNESS (1.46%), WAPCO (1.34%) and GUARANTY (4.40%). In the same vein, market capitalization gained N260.44bn to close at N10.06tn, while market activity as measured by Volume and Value traded, appreciated by 1.70% and 25.52% to 628.75mn units and N6.79bn respectively.

Most market indices closed northwards save for the decline in the Oil & Gas index (-1.03), following profit taking in CONOIL (-5.00%), OANDO (-4.37%) and TOTAL (-3.35%). On the flip side, the Industrial Goods Index (3.38%) and Consumer Goods index (2.60%) extended bargain hunting for the fourth and third consecutive trading sessions respectively, following sustained interest in DANGCEM (5.00%), CCNN (3.09%), WAPCO (1.34%), NB (5.01%), PZ (3.30%) and CHAMPION (3.29%). The Banking index (1.74%) and Insurance  index (0.71%) followed suit on the back of gains in FBNH (4.52%), GUARANTY (4.40%), FCMB (3.57%), and MANSARD (4.76%).

Investor sentiment remained upbeat as the market breadth (advancers/decliners ratio) closed flat 2.1x (Previous: 2.1x) as 33 stocks advanced and 16 stocks declined for the day. The top gainers were NB (5.01%), DANGCEM (5.00%) and UAC-PROP (4.82%), while top losers were NAHCO (-9.62%), CONOIL (-5.00%) and BERGER (-5.00%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

FX Market Adjustment Policy Announcement Halt Losing Streak… NSE ASI Up 3.17%

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The Nigerian equities market halt three days of consecutive losing streak, following news from the CBN to abandon the Naira peg and allow a fully market-determined system, with a periodic intervention in the market. With the expectation of c. 30% to 40% downward adjustment of the currency against the greenback, we expect the move to encourage import substitution and foreign portfolio investor. The equities bourse appreciated by 3.17%, triggered by strategic positioning by domestic investors across the board; DANGCEM (5.00%), MOBIL (4.95%), NB (4.49%), GUINNESS (5.00%) and GUARANTY (7.78%) outweighed sell-offs in ETI (-4.65%), GLAXOSMITH (-4.87%), INTBREW (-2.11%), FLOURMILL (-1.60%) and UACN (-0.87%). The NSE ASI advanced to 27,891.96 points whilst WtD strengthened to 2.93% and YtD loss trimmed to 2.62% following a fast pace of appreciation in most indices. In the same vein, market capitalization gained N295.00bn to close at N9.59tn, while market activity as measured by Volume and Value traded, appreciated by 245.19% and 43.40% to 588.42mn units and N3.48bn respectively.

The Banking Index (3.96%) led the gainers list, consequent on price uptrend in bellwether counters; GUARANTY (7.74%), UBA (6.48%) and ZENITHBANK (5.48%). The Industrial Goods index (2.82%) and Consumer Goods index (2.37%) followed the upward trend on the back of gains in DANGCEM (5.00%), DNMEYER (4.21%), GUINNESS (5.00%) and DANGSUGAR (4.74%), whilst the Oil & Gas index (107bps) and Insurance index (64bps) posted a  second consecutive positive close following price appreciation in OANDO (5.00%), MOBIL (4.95%), NEM (9.52%) and AIICO (3.90%).

Investor sentiment strengthened today as the market breadth (advancers/decliners ratio) closed strong to 3.3x (Previous: 1.4x) as 33 stocks advanced and 10 stocks declined for the day. The top gainers were NEM (5.00%), CON-TINSURE (4.76%) and STANBIC (4.51%), while top losers were GLAXOSMITH (-9.72%), UNITYBNK (-8.85%) and FCMB (-5.45%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Sell Pressure Mounts as Market Extends Losing Streak… NSE ASI Down 26bps

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The Nigerian equities market extended the bearish rally for the third consecutive session, with a mixed performance as most market indices trended northwards at the close of trading. The Nigerian equities market closed the trading session negative as profit taking outweigh bargain hunting, to wane the NSE ASI further by 26bps to settle at 27,043.05 points, while WtD and YtD loss deepen in the negative by 1.61% and 5.61% respectively, following continuous sell-offs in bellwether counters in the Banking and Consumer Goods indices; NB (-2.31%), GLAXOSMITH (-9.72%), CADBURY (-3.61%), GUARANTY (-2.63%) and ETI (-1.99%), to mute the effect of the price appreciation in Industrial, Insurance and Oil & Gas indices. In the same vein, market capitalization lost N24.02bn to close at N9.30tn, while market activity as measured by Volume and Value traded appreciated by 12.02% and 5.86% to settle at 170.46mn units and  N2.42bn respectively.

The market performance was mixed at the close of trading, as most indices trended northwards save for the bullish reversal and continuous sell-offs in the Banking index (-1,03%) and Consumer Goods index (99bps) respectively, consequent on profit taking in UNITYBNK (4.17%), FCMB (69bps), GUARANTY (-2.63%), GLAXOSMITH (-9.72%), CADBURY (-3.61%) and NB (-2.31%). On the flip side,  the Industrial Goods Index appreciated by 1.20% to lead the gainers list as bargain hunting trailed WAPCO (3.11%) and DANGCEM (12bps), whilst the Insurance index (80bps) and Oil & Gas index (19bps) traded in the green zone, following price appreciation in NEM (5.00%), CONTINSURE (4.76%) and TOTAL (3.09%).

Investor sentiment strengthened today as the market breadth (advancers/decliners ratio) improved to 1.4x (Previous: 0.7x) as 23 stocks advanced and 17 stocks declined for the day. The top gainers were NEM (5.00%), CONTINSURE (4.76%) and STANBIC (4.51%), while top losers were GLAXOSMITH (-9.72%), UNITYBNK (-8.85%) and FCMB (-5.45%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

A Bearish Start to the Week as Market Dives in the Red… NSE ASI Down 13bps

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In extension of the bearish sentiments that trailed market activities to a negative close in the previous trading week, the Nigerian equities market opened the week on a bearish note for the second consecutive week, with most market indices trending southwards. The Nigerian equities market closed the trading session negative as profit taking outweigh bargain hunting, plunging the NSE ASI by 13bps to settle at 27,599.48 points, while WtD and YtD extended in the negative by 4.51% and 3.64% respectively. Market activity was weakened by profit taking in TOTAL (-4.38%), GUINNESS (-2.89%), JBERGER (-2.09%), STANBIC (-4.95%) and GUARANTY (-2.08%). In the same vein, market capitalization lost N12.04bn to close at N9.49tn, while market activity as measured by Volume and Value waned by 41.62% and 41.19% to 142.24mn units and  N1.43bn respectively.

The market performance was mixed at the close of trading, most of the indices trended southwards save for the 1.46% and 61bps gains in the Industrial and Insurance Goods indices, consequent on bargain hunting in CAP (4.11%), DANGCEM (0.88%), MANSARD (5.00%) and AIICO (4.05%). On the flip side,  the Banking Index decline by 1.31% to lead the losers list as profit taking trailed STANBIC (-4.95%), GUARANTY (-2.08%) and ZENITHBANK (-1.00%), whilst the Oil & Gas Index shed 53bps, on the back of sell-offs in TOTAL (-4.38%) and OANDO (-0.97%). In the same vein, the Consumer Goods index dipped further in the red as price downturn in GUINNESS (-2.89%) and FLOURMILL (-3.18%) dampened the index by 13bps.

The market breadth (advancers/decliners ratio) closed weak at 0.6x (Previous: 1.9x) as 15 stocks advanced and 24 stocks declined for the day. The top gainers were UNIONDICON (10.22%), MANSARD (5.00%) and ASHAKACEM (4.99%), while top losers were VITAFOAM (-6.32%), DIAMONDBNK (-6.28%) and MAYBAKER (-5.00%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Closed Higher, Snap 2-Day Losing Streak… NSE ASI Up 1.02%

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The Nigerian equities market closed the third trading day of the weak bullish as the market rally on the back of the likelihood of a decision on the FOREX  flexibility by the APEX bank. The broad market index appreciated by 1.02%, to settle at 27,183.64 points, as bargain hunting resurface in NB (5.00%), WAPCO (5.00%), DANGCEM (1.80%), CADBURY (10.02%) and FLOURMILL (5.00%). In the same vein, market capitalization gain by N94.01bn to close at N9.35tn, while market activity as measured by Volume and Value dipped by 1.07% and 38.78% to 332.23mn units and  N2.16bn respectively.

Most market indices closed northwards as bargain hunting outweigh  profit taking in the bourse, save for the 1.98% apiece bearish close in the Insurance and Oil & Gas Indices, consequent on extended sell-offs in MANSARD (-4.98%), CONTINSURE (-4.55%), SEPLAT (-2.74%) and FO (-2.45%). On the flip side, the Industrial Goods Index appreciated by 2.70% to lead the losers list  as the strategic position in WAPCO (5.00%) and DANGCEM (1.80%), trimmed the WtD to 4.13%. The Consumer Goods Index gained 1.46%, consequent on bargain hunting in bellwether counters; NB (5.00%), CADBURY (10.02%) and FLOURMILL (5.00%). Followed by the muted appreciation in the Banking index, as bargain hunting in ZENITHBANK (2.28%), GUARANTY (0.57%) and FBNH (2.63%) uplift the index by 52bps.

The market breadth (advancers/decliners ratio) closed higher but weak at 0.7x (Previous: 0.2x) as 23 stocks advanced and 31 stocks declined for the day. The top gainers were CADBURY (10.02%), UCAP (8.49%) and FLOURMILL (5.00%), while top losers were CCNN (-9.62%), UNIONDICON (-4.98%) and MANSARD (-4.98%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

A Bearish Start to the Month as Market Dives Further in the Red… NSE ASI Down 2.75%

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The Nigerian equities market closed the second consecutive trading session      negative as profit taking outweigh bargain hunting, plunging the market further in the red to close the first trading day of the month bearish as investors take profit given the strong gains recorded in the previous week. The market closed red across board as profit taking in NB (-4.96%), GUINNESS (-4.99%), WAPCO (-4.14%), GUARANTY (-9.63%) and ZENITHBANK (-9.21%), shed the NSE ASI by 2.75% to settle at 27,910.23 points, while WtD and YtD closed at negative 1.18% and 6.05% respectively. In the same vein, market capitalization lost N261.62bn to close at N9.25tn, while market activity as measured by Volume and Value appreciated by 27bps and 12.21% to 335.81mn units and  N3.53bn respectively.

The Banking Index decline by 6.86% to lead the losers list for the second consecutive trading session as profit taking in GUARANTY (-9.63%), STANBIC (-9.70%) and ZENITHBANK (-9.21%) deepen the WtD further in the red at 4.70%. The Consumer Goods Index shed 2.86%, consequent on profit taking in bellwether counters; NB (-4.96%), GUINNESS (-4.99%) and FLOURMILL (-4.80%). Followed by the price downturn in the  Industrial Goods and Oil & Gas indices, as the bearish rally in WAPCO (-4.14%), DANGCEM (-0.01%) and OANDO (-0.68%) closed the indices 1% apiece, whilst the Insurance index waned by 81bps, as sell pressure outweigh bargain hunting in CONTINSURE (-4.35%) and NEM (-3.75%).

The market breadth (advancers/decliners ratio) closed at the same level of 0.2x as 8 stocks advanced and 37 stocks declined for the day. The top gainers were ETRANZACT (9.70%), CADBURY (9.02%) and UAC-PROP (4.98%), while top losers were STANBIC (-9.70%), GUARANTY (-9.63%) and OANDO (-9.54%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Oil Price Rebound Boost Market Momentum, Year-to-Date Closed Positive… NSE ASI Up 2.18%

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The Nigerian equities market continues to reveal a positive correlation with global crude oil prices. The Brent crude crossed $50/barrel on the back of supply disruptions in Nigeria. The Nigerian bourse moved in the same direction with the rebound in crude oil price as bargain hunting persist across board to close all the indices northwards. The rally in the market was driven by strategic positioning in NESTLE (5.00%), GUINNESS (10.25%), SEPLAT (2.86%), NB (4.99%) and WAPCO (2.67%), advancing the NSE ASI to 28,877.47 points and strengthened WtD and YtD to 6.84% and 0.82% respectively. In the same vein, market capitalization gain by N212.11bn to close at N9.93tn, while market activity as measured by Volume and Value appreciated by 37.26% and 43.29% to 651.00mn units and N5.02bn respectively.

The Consumer Goods Index rose 4.52% to lead the gainers list, consequent on price uptrend in bellwether counters; NESTLE (5.00%), GUINNESS (10.25%) and NB (4.99%). Followed by the Banking Index as the rally in STANBIC (4.96%), ETI (4.43%) and ZENITHBANK (3.57%), persist to close the index higher by 3.58%. In the same vein, the Oil & Gas and Insurance indices appreciated by 2.11% and 1.55% respectively, on the back of bargain hunting in SEPLAT (2.86%), OANDO (10.11%), MANSARD (4.74%) and AIICO (3.85%), whilst the Industrial Goods index advanced by 34bps, as bargain hunting outweigh profit taking in WAPCO (4.11%) and CCNN (0.51%).

The market breadth (advancers/decliners ratio) closed strong at 8.2x (Previous: 4.8x) as 49 stocks advanced and 6 stocks declined for the day. The top gainers were GUINNESS (10.25%), OANDO (10.11%) and UBN (9.96%), while top losers were AGLEVENT (-5.00%), LEARNAFRCA (-3.95%) and FIDSON (-3.64%).

The Bulls are Back and Running Fast… NSE ASI Up 3.78%

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The Nigerian equities market closed bullish for the second consecutive trading session as the investors position ahead of the liberalization of the FX market. The rally in the market was driven by strategic positioning in bellwether constituents of the MSCI Index; NESTLE (2.74%), DANGCEM (4.11%), NB (5.00%), GUINNESS (4.99%), WAPCO (5.00%) SEPLAT (0.84%) and ZENITHBANK (10.07%), to advance the NSE ASI by 3.78% to close at 28,260.61 points, strengthening WtD to 5.59% and trimming YtD to -1.33% respectively. In the same vein, market capitalization gain by N353.87bn to close at N9.72tn, while market activity as measured by Volume and Value appreciated by 73.03% and 127.59% to 474.30mn units and N3.50bn respectively.

Most market indices closed northwards save for the 12bps downturn in the  Oil & Gas index on the back of 5.00% and 2.95% profit taking in MOBIL and FO. On the flip side, the Banking index led the gainers list consequent on  bargain hunting in ZENITHBANK (10.07%) and GUARANTY (3.81%), to advance the index by 5.89%. Followed by the Industrial Goods and Insurance Indices, the indices recorded a bullish rally on the back of renewed sentiment in DANGCEM (4.11%), WAPCO (5.00%), MANSARD (4.98%) and AIICO (4.00%), to appreciate by 4.16% and 3.29% respectively. In the same vein, the Consumer Goods index continued the upward rally in NESTLE (2.74%) and NB  (5.00%), to uplift the index further by 1.47% .

The market breadth (advancers/decliners ratio) closed strong at 4.8x (Previous: 1.3x) as 48 stocks advanced and 10 stocks declined for the day. The top gainers were UBA (10.18%), OANDO (10.13%) and ZENITHBANK (10.07%), while top losers were MOBIL (-5.00%), UNIONDICON (-4.96%) and GLAXOSMITH (-4.87%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

MPC Adopt Flexible Exchange Rate, Maintain MPR and CRR… NSE ASI Up 80bps

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The Nigerian equities market closed the second trading session of the week positive after a day of negative close on the back of policy uncertainty. The equities market advanced at the close of trading as investors position ahead of the outcome of the MPC. The rally in the market was driven by bargain hunting in bellwether counters in the Consumer Goods, Banking and Industrial Goods indices. Market activity was lifted by renewed momentum in DANGCEM (1.75%), NB (1.84%), ETI (3.17%), GUARANTY (0.90%) and DANGSUGAR (2.58%), to advance the NSE ASI by 80bps to close at 2,231.50 points, strengthening WtD and YtD to 2.16% and -4.93% respectively. In the same vein, market capitalization gain by N74.11bn to close at N9.36tn, while market activity as measured by Volume and Value depreciated by 13.38% and 19.38% to 274.10mn units and N1.54bn respectively.

Most market indices closed northwards save for the 42bps sell-off in the Insurance index on the back of 4bps profit taking in CONTINSURE. On the flip side, the Consumers Goods and Banking Indices closed 76bps and 73bps respectively, consequent on bargain hunting in NB (1.84%), ETI (3.17%), GUARANTY (0.90%) and DANGSUGAR (2.58%). Followed by the Industrial Goods and Oil & Gas Indices, the indices appreciated 67bps and 4bps respectively as renewed sentiments in DANGCEM (1.75%), DNMEYER (3.80) and OANDO (0.33%).

The market breadth (advancers/decliners ratio) closed strong at 1.3x (Previous: 0.5x) as 24 stocks advanced and 18 stocks declined for the day. The top gainers were VITAFOAM (6.98%), NAHCO (4.82%) and FIDSON (4.76%), while top losers were LEARNAFRCA (-9.41%), CAP (-5.00%) and CADBURY (-4.99%).

MPC Outcome Uncertainty Douse Market Activity … NSE ASI Down 42bps

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After three consecutive days of bullish rally in the bourse, the Nigerian equities market opened the first trading day of the week negative as uncertainty surrounds the possible outcome of the MPC meeting which started today. The market activity was dictated by significant sell-off in bellwether counters, to close all the key indices southwards. Market activity was dampened by profit taking in NESTLE (-0.34%), PZ (-4.97%), ZENITH (-4.89%), NB (-0.56%) and FO (-0.25%), to contract the NSE ASI by 42bps to close at 2,015.97 points, weakening  WtD and YtD to 0.71% and -5.68% respectively. In the same vein, market capitalization lost by N39.01bn to close at N9.29tn, while market activity as measured by Volume and Value depreciated by 43.39% and 46.84% to 316.46mn units and N1.91bn respectively.

 

All market indices closed southwards at the close of trading as investors seek safe haven ahead of the outcome of the MPC. Following 4.89% and 4.67% profit taking in ZENITH and ACCESS, the Banking index shed 2.01% to lead the losers list. As investors react to the poor Q1’2016 GDP report, the Insurance and Consumer Goods indices lost 95bps and 41bps respectively, consequent on sell-offs in MANSARD (-4.74%), AIICO (-1.32%), NESTLE (-0.34%) and PZ (-4.97%). Profit taking activity halts the rally in Oil & Gas sector as 25bps price downturn in FO shed the index by 9bps, while the Industrial Goods index closed flat at the close of trading.

 

The market breadth (advancers/decliners ratio) closed weak and negative at 0.5x (Previous: 1.2x) as 14 stocks advanced and 28 stocks declined for the day. The top gainers were STANBIC (10.19%), DNMEYER (8.22%) and FIDSON (5.00%), while top losers were PZ (-4.97%), UNIONDICON (-4.94%) and ZENITHBANK (-4.89%).

 

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

 

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Sustain Bullish Momentum …NSE ASI Up 99bps

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Trading activities in the Nigerian equities market surged higher to sustain a positive close at the end of trading session, as bargain momentum persist. Market performance improved for the day as NSI ASI further appreciated by 0.99% to close at 27,028.24 points, improving  WtD and YtD to 4.50% and –5.64% respectively. Market activity was strengthened by sustained positive sentiment in NESTLE (1.03%), SEPLAT (1.43%), WAPCO (3.40%), GTB (7.32%) and JBERGER (2.95%). In the same vein, market capitalization advanced N90.91bn to close at N9.29tn, while market activity as measured by Volume depreciated by 25.66% to 498.68mn units and Value appreciated by 32.77% to N2.73bn respectively.

 

Most market indices closed positive save for the losses in the Consumer Goods and Insurance indices. The Banking index topped the gainers’ list advancing by 4.62% consequent on bargain hunting in GTB (7.32%) and ETI (4.76%). The Industrial Goods index followed to appreciate by 1.18% on the back of bullish rally in WAPCO (3.40%) and JBERGER (2.95%). Similarly, the Oil & Gas index improved by 1.07% in effect of price uptrend in SEPLAT (1.43%) and FO (0.27%). On the flip side, the Consumer Goods index lost 0.82% on the back of profit taking in GUINNESS (-3.94%) and NB (-1.57%), whilst the Insurance index waned by 0.53% consequent on bearish sentiment in CONTISURE (4.63%).

 

The market breadth (advancers/decliners ratio) closed strong at 1.9x (Previous: 1.0x) as 32 stocks advanced and 17 stocks declined for the day. The top gainers were FCMB (9.92%), ETERNA (8.93%) and GTB (7.32%), while top losers were NCR (-9.65%), UNHOMES (-9.43%) and UNILEVER (-5.00%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

 

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Regain Bullish Momentum as Sentiment Improved

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After a day of bearish sell-off that halt bullish rally in the bourse, the Nigerian equities market regained the positive momentum at the close of trading as the bulls resurface. Market activities closed the third trading session of the week on a positive note as bargain hunting in the Consumer Goods and Banking indices held the market to appreciate the broad market index by 41% to close at 26,763.86 points, improving  WtD and YtD to 4.42% and -6.56% respectively. Market activity was strengthened by bargain hunting in NB (1.98%), ZENITHBANK (4.02%), GUARANTY (2.68%), PRESCO (1.40%) and DANGSUGAR (3.33%). In the same vein, market capitalization gained N37.27bn to close at N9.20tn, while market activity as measured by Volume appreciated by 69.42% to 670.80mn units and Value declined by 22.59% to N2.06bn respectively.

 

Most market indices closed negative save for the reversal of yesterday’s loss in the Banking index and the sustained gains in Consumer Goods index for the ninth consecutive trading session. The Banking and Consumer Goods indices gained 1.73% and 35bps respectively, consequent on bullish rally in NB (1.98%), ZENITHBANK (4.02%), GUARANTY (2.68%) and DANGSUGAR (3.33%). On the flip side, the Oil & Gas index led the losers’ list declining by 45bps in effect 59bps and 16bps sell-off in TOTAL  and FO respectively. Whilst the Insurance and Industrial Goods indices lost 38bps and 25bps respectively, on the back of profit taking in CUSTODYINS (-4.50%), MANSARD (-3.67%), WAPCO (-0.68%) and DANGCEM (-0.01%).

 

The market breadth (advancers/decliners ratio) closed positive at 1.0x (Previous: 0.5x) as 22 stocks advanced and 23 stocks declined for the day. The top gainers were AFRIPUD (4.98%), UAC-PROP (4.50%) and ZENITHBANK (4.02%), while top losers were TIGERBRANDS (-9.68%), SKYEBANK (-6.84%) and CHAMPION (-5.42%).

 

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

 

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Extends Rally as Week Opened Bullish …NSE ASI Up 1.45%

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In extension of the bullish sentiments that trailed market activities to a positive close in the previous trading week, the Nigerian equities market opened the week on a bullish note with gains recorded across key sectors.  The broad market index maintained a positive momentum to appreciate by 1.45% to close higher at 26,824.35 points, improving WtD and YtD to 3.86% and -6.35% respectively, as all market indices closed the day green. Market activity was strengthened by  bargain hunting in NB (4.28%), TOTAL (2.94%), GUINNESS (5.00%), WAPCO (3.93%) and DANGCEM (1.27%). In the same vein, market capitalization appreciated by N131.81bn to close higher at N9.22tn, while market activity as measured by Volume and Value depreciated by 43.35% to 320.995mn units and 41.08% to N2.11bn respectively.

Market activities turned broadly bullish with price rally spreading across all key market indices. The Industrial Goods index topped the gainer’s list by advancing 227bps consequent on price uptrend in WAPCO (3.93%) and DANGCEM (1.27%). The Banking index further advanced by 185bps on the back of gains in GTB (2.51%) and ACCESS (7.87%). Bargain hunting in NB (4.28%) and GUINNESS (5.00%) appreciated the Consumer Goods index by 169bps, whilst the Oil & Gas index lifted 129bps in effect of bullish sentiments in TOTAL (2.94%) and CONOIL (10.23%). In the same vein, the Insurance index also appreciated by 12bps consequent on sustained gains in MANSARD (4.57%) and CONTINSURE (2.83%).

The market breadth (advancers/decliners ratio) closed positive but weak at 1.1x (Previous: 5.0x) as 27 stocks advanced and 24 stocks declined for the day. The top gainers were CONOIL (10.23%), OANDO (10.02%) and UBA (9.37%), while top losers were MRS (-9.74%), VITAFOAM (-9.59%), and GCAPPA (-4.98%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Bullish Rally in Bellwether Stocks Closed the Week Positive…NSE ASI Up 2.23

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The Nigerian equities bourse closed the second consecutive trading day positive as bullish rally persist in bellwether stocks to appreciate the broad market index by 2.23% to close higher at 26,441.03 points, improving WtD and YtD to 2.88% and -7.69% respectively, as all market indices closed the day green. Market activity was strengthened by  bargain hunting in NESTLE (6.18%), MOBIL (8.93%), TOTAL (6.52%), SEPLAT (1.45%) and WAPCO (4.71%). In the same vein, market capitalization appreciated by N198.05bn to close higher at N9.09tn, while market activity as measured by Volume appreciated by 116.64% to 566.61mn units and Value appreciated by 139.75% to N3.57bn.

The price rally in the Banking index persisted for the five trading days of the week as the bullish rally in ZENITH (5.00%) and ETI (4.51%) closed the index positive to appreciate by 3.80%. Followed by the Oil & Gas Index, the index advanced 3.46% on the back of a renewed rally in the downstream oil and gas bellwether stocks – MOBIL (8.93%), TOTAL (6.52%), and SEPLAT (1.45%). The Industrial Goods Index reversed four days of consecutive sell-offs to appreciate on the last trading day of the week by 2.55% on the back of 4.71% and 1.53% gains in WAPCO and DANGCEM respectively. In the same vein, the Insurance and Consumer Goods indices further appreciated by 1.58% and 1.01% respectively, on the back of sustained gains in MANSARD (4.29%), CONTINSURE (4.95), NESTLE (6.18%) and CADBURY (10.23%) respectively.

The market breadth (advancers/decliners ratio) closed strong at 5.0x (Previous: 3.1x) as 50 stocks advanced and 10 stocks declined for the day. The top gainers were CADBURY (10.23%), OANDO (10.21%) and GLAXOSMITH (10.12%), while top losers were MRS (-9.73%), IKEJAHOTEL (-4.67%), and GOLDBREW (-4.49%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Halts Bearish Rally as Bull Returns…NSE ASI Up 91bps

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After two days of consecutive bearish rally in the market with cumulative loss of 77bps, the Nigerian equities market reversed the losses to close today’s trading session bullish as the rally in the Banking and Consumer Goods Index persist for the fourth consecutive trading day, while activities in the Oil & Gas Index extended positive rally for the second trading day. The broad market index took a breather to appreciate 91bps to close higher at 25,865.06 points, improving WtD and YtD to 1.18% and -9.70% respectively. Market activity was strengthened by  bargain hunting in FO (5.00%), TOTAL (6.11%), NESTLE (1.34%), MOBIL (3.59%) and DIAMONDBNK (8.88%). In the same vein, market capitalization appreciated by N80.61bn to close higher at N8.89tn, while market activity as measured by Volume appreciated by 32.13% to 261.54mn units and Value depreciated by 6.81% to N1.49bn.

Most market indices closed positive save for the bearish sentiment in the Industrial Goods index losing 49bps consequent on extended sell-offs in WAPCO (-1.45%). On the flip side,  the Oil & Gas index topped the gainers’ list to advance 3.67b% in effect of  price rally in FO (5.00%) and TOTAL (6.11%). The Banking and Consumer Goods indices further appreciated by 1.43% and 1.35% respectively, on the back of sustained gains in ZENITH (1.45%), DIAMOND (8.88%) and NESTLE (1.34%), NB (2.54%) respectively. In the same vein, price rally in MANSARD (5.00%) inched-up Insurance index by 97bps.

The market breadth (advancers/decliners ratio) closed strong at 3.1x (Previous: 1.6x) as 37 stocks advanced and 12 stocks declined for the day. The top gainers were TIGERBRAND (10.10%), LIVESTOCK (9.52%) and DIAMONDBNK (8.88%), while top losers were FLOURMILL (-4.97%), UPL (-4.85%), and UNILEVER (-3.28%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

 

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

 

Bearish Sentiment in Industrial Goods Index Dipped Market Further…NSE ASI Down 6bps

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The Nigerian equities market closed the trading day negative, as bearish sentiment in bellwether Industrial stocks dampened market performance. The broad market index depreciated by 6bps to close lower at 25,630.62 points, tempering WtD and YtD to -0.33% and -10.51% respectively. Market activity was further weakened by bearish sentiments in TOTAL (-1.05%), DANGCEM (-0.80%), FLOURMILL (-4.92%) and WAPCO (-0.72%). In the same vein, market capitalization declined by N5.58bn to close lower at N8.81tn, while market activity as measured by Volume depreciated by 16.77% to 197.94mn units and Value appreciated by 17.57% to N1.60bn.

Most market indices closed positive save for the bearish sentiment in the Industrial Goods index losing 68bps consequent on extended profit taking in DANGCEM (-0.80%) and WAPCO (-0.72%). On the flip side,  the Insurance index topped the gainers’ list to advance 64bps in effect of  price rally in MANSARD (3.09%) and AIICO (2.47%). The Banking and Consumer Goods indices further appreciated by 64bps and 58bps respectively, on the back of sustained gains in GTB (1.89%), DIAMOND (4.97%) and NB (0.42%), TIGERBRANDS (10.02%) respectively. On a positive note, price rally in CONOIL (4.81%) inched-up the Oil & Gas index by 1bps.

The market breadth (advancers/decliners ratio) closed positive but weak at 1.6x (Previous: 1.9x) as 31 stocks advanced and 20 stocks declined for the day. The top gainers were TIGERBRAND (10.02%), LIVESTOCK (5.00%) and CHAMPION (4.98%), while top losers were WEMABANK (-8.75%), CAVERTON (-8.61%), and JOHNHOLT(-5.00%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Bullish Opening to the Week Amidst Mixed Performance…NSE ASI Up 549bps

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Trading activities in bourse commenced on a positive note following a bullish close of stock deals in the previous trading week, as bargain hunting persists in bellwether Banking and Consumer Goods indices. The broad market index appreciated by 49bps to close higher at 25,828.30 points, moderating WtD and YtD to 3.06% and -9.82% respectively. Market activity was driven by bullish rally in UNILEVER (10.24%), NB (1.41%), FLOURMILL (4.74%) and ZENITHBNK (4.56%). In the same vein, market capitalization advanced by N43.57bn to close higher at N8.88tn, while market activity as measured by Volume and Value appreciated by 74.86% to 315.67mn units and 45.36% to N1.70bn respectively.

The Banking and Consumer Goods indices maintained a positive momentum to appreciate 208bps and 6bps respectively consequent on renewed rally ZENITHBNK (4.56%), GTB (3.03%) and  UNILEVER (10.24%), NB (1.41%) respectively. On the flip side, price downtrend in MANSARD (-4.69%) and CUSTODYINS (-0.26%) depreciated the Insurance index by 103bps. The Oil & Gas index waned by 37bps in effect of profit taking in TOTAL (-3.18%) and FO (-0.30%). On a bearish note, the Industrial Goods index also shed 6bps on the back of JBERGER (-4.92%) and CCNN (-4.58%).

The market breadth (advancers/decliners) closed positive but weak at 1.6x (Previous: 2.5x) as 29 stocks advanced and 18 stocks declined for the day. The top gainers were UNILEVER (10.24%), ETERNA (7.41%) and UCAP (6.67%), while top losers were GLAXOSMITH (-4.99%), CADBURY (-4.98%), and JBERGER (-4.92%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Rally in Oil & Gas Index Closed the Week Bullish…NSE ASI Down 54bps

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In view of the mixed performance that characterized trading activities  for the week, the Nigerian equities market closed the last trading day of the week bullish after two days of consecutive bearish run as bargain hunting outweigh profit taking sentiments. The broad market index appreciated by 54bps to close higher at 25,701.60 points, moderating WtD and YtD to 2.95% and -10.27% respectively. Market activity was driven by bullish rally in FO (10.25%), MOBIL (4.93%), FLOURMILL (8.92%) and GUINNESS (1.06%). In the same vein, market capitalization increased by N47.39bn to close higher at N8.84tn, while market activity as measured by Volume appreciated by 1.10% to 180.53mn units and Value declined by 21.19% to  and N1.17bn respectively.

Most market indices closed positive save for the 1.04% downtrend in Insurance index on the back of 4.91% profit taking in MANSARD. The Oil & Gas index topped the gainers’ list advancing 4.33% consequent on bargain rally in FO (10.25%) and MOBIL (4.93%). Price uptrend in GUARANTY (7.98%) and ZENITHBANK appreciated the Banking Index by 85bps, whilst the Consumer Goods index also up-ticked by 16bps in as gains in FLOURMILL (8.92%) and GUINNESS (1.06%) extended. The Industrial Goods index closed flat.

The market breadth (advancers/decliners) closed positive and stronger at 2.5x (Previous: 1.0x) as 27 stocks advanced and 11 stocks declined for the day. The top gainers were FO (10.25%), TIGERBRABDS (9.02%) and FLOURMILL (8.92%), while top losers were MANSARD (-4.91%), PORTPAINTS (-4.82%), and CAVERTON (-4.62%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Traded Southwards…NSE ASI Down 58bps

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After a positive opening of trading activities for the week signaling a good start of stock deal for the month, the Nigerian equities market closed the second trading day of the month southwards as bargain hunting momentum tumbled across key sectors. The broad market index depreciated by 0.58% to close lower at 25,716.06 points to weaken the WtD and YtD to 3.59% and -10.22% respectively. Market performance at the close of trading was dwindled by bearish sentiments in FO (-1.79%), DANGCEM (-1.50%), PZ (-5.00%) and ETI (-5.16%). In the same vein, market capitalization declined by N51.39bn to close lower at N8.84tn, while market activity as measured by Volume and Value improved by 50.14% and 50.48% to 330.46mn units and N2.26bn respectively.

Most market indices closed bearish save for the 21bps uptick in the Consumer Goods index consequent on 0.25% and 4.98% gains in NESTLE and UNILEVER respectively. The Banking index led the losers’ list declining by 100bps on the back of -5.16% and -0.58% profit taking in ETI and GTB respectively. Bearish sentiment in FO (-1.79%) and DANGCEM (-1.5%) dampened the Oil & Gas, and Industrial Goods indices by 59bps and 13bps respectively. On a negative trend, the Insurance index also shed 9bps consequent on -2.60% and -1.23% price downtrend in AIICO and NEM respectively.

The market breadth (advancers/decliners) closed positive but weak at 1.4x (Previous: 2.8x) as 26 stocks advanced and 19 stocks declined for the day. The top gainers were TIGERBRANDS (10.00%), ETERNA (9.88%) and AIRSERVICE (9.52%), while top losers were ETI (-5.16%), PZ (-5.00%), and FIDSON (-4.91%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Closed Bullish Despite Bearish Opening to the Week…NSE ASI UP 39bps

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In view of the see-saw movements that characterized trading activities  for the week, the Nigerian equities market closed the last trading day of the week bullish as bargain hunting outweigh profit taking sentiments amidst uncertainty in the economic environment. The broad market index appreciated by 39bps to close higher at 25,062.41 points, moderating WtD and YtD to 0.85% and -12.50% respectively. Market performance at the close of trading was driven by bullish rally in NB (4.99%), PZ (4.96%), PRESCO (2.14%) and CADBURY (4.94%). In the same vein, market capitalization increased by N33.62bn to close higher at N8.62tn, while market activity as measured by Volume and Value declined by 32.26% and 24.72% to 229.18mn units and N1.50bn respectively.

Most market indices closed positive save for the downtrend in Consumer Goods and Insurance indices. The Banking index topped the gainers’ list advancing 229bps consequent on bargain rally in ZENITHBANK (3.42%) and GTB (0.78%). Price uptrend in ETERNA (7.98%) appreciated the Oil & Gas index by 28bps, whilst the Industrial index also up-ticked by 7bps in effect of gains recorded in CUTIX (4.35%). On the flip side, the Insurance index plummeted by 207bps on the back of profit taking in CUSTODYINS (-2.37%) and LAWUNION (3.85%). The Consumer Goods index also tumbled by 114bps consequent on price downtrend in NESTLE (0.76%) and UACN (-0.93%).

The market breadth (advancers/decliners) closed positive and stronger at 1.1x (Previous: 0.8x) as 20 stocks advanced and 19 stocks declined for the day. The top gainers were ETERNA (7.98%), TIGERBRABDS (7.83%) and NB (4.99%), while top losers were FO (-5.00%), PREMPAINTS (-4.94%), and PHARMDEKO (-4.88%).

day. The top gainers were  TOTAL (10.0%), WEMABANK (5.3%) and FLOURMILL (5.0%), while top losers were MAYBAKER (-5.9%), FO (-5.0%) and WAPCO (-5.0%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk

Bargain Hunting Unwinds…NSE ASI Down 6bps

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After two days of mixed trading in the bourse, the Nigerian equities market closed the third trading day of the week bearish as profit taking outweigh bargain hunting across key sectors. The broad market index depreciated by 6bps to close lower at 24,809.29 points, moderating WtD and YtD to 0.10% and -13.38% respectively. Market performance at the close of trading was inched-down by profit taking in FO (-5.0%), TOTAL (-4.7%), GLAXOSMITH (-9.7%) and NB (-0.4%). In the same vein, market capitalization declined by N5.35bn to close lower at N8.53tn, while market activity as measured by Volume and Value adjusted by 34.36% and -10.34% to 285.03mn units and N1.35bn respectively.

Market activities turned broadly negative with bearish movement in most indices save for the Banking index. The Oil & Gas index led the loser’s list declining 2.1% consequent on selloffs in FO (-5.0%) and TOTAL (-4.7%). Profit taking in AIICO (-1.3%) tepid the Insurance index by 7bps. The Consumer index also dipped by 2bps on the back of GLAXOSMITH (-9.7%) and NB (-0.4%). On a negative note, the Industrial index shed 1bps in effect of bearish sentiment in DANGSUGAR (3.0%) and CUTIX (3.5%). On the flip side, the Banking index appreciated by 44bps consequent on price rally in FBNH (5.3%) and GTB (0.7%).

The market breadth (advancers/decliners) closed positive and weaker at 0.9x (Previous: 3.1x) as 19 stocks advanced and 22 stocks declined for the day. The top gainers were  FBNH (5.3%), UNILEVER (5.0%) and DIAMONDBNK (4.9%), while top losers were GLOXOSMITH (-9.7%), UAC-PROP (-9.4%) and NAHCO (-5.0%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Profit Taking in Banking Sector Dampen Market Activity…NSE ASI Down 24bps

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After three consecutive days of bullish movement in the bourse, the Nigerian equalities market closed the last trading day of the week on a negative note as profit taking in the Banking and Consumer goods sectors plunge market sentiments. The NSE ASI declined by 0.24% to settle at 24,850.11 points, tempering WtD and YtD to 0.53% and -13.24% respectively. Market performance for the day was dampened by price downturn in NESTLE (-3.13%), GUINNESS (-1.84%), ACCESS (-3.77%) and CHAMPION (-4.75%). In the same vein, market capitalization lost N20.56bn to close lower at N8.54tn, while market activity as measured by Value and Volume declined by 28.07% and 5.67% to N1.51bn and 188.72mn units respectively.

Most market indices closed northwards save for the loss in the Banking and Consumer goods indices. The Banking Index declined 97bps on the back of profit taking in ACCESS (-3.8%) and GTB (0.8%). The Consumer goods index also lost 52bps consequent on bearish sentiment in NESTLE (-3.1%) and GUINNESS (-1.8%). On the flip side, the Insurance index advanced 116bps in effect of 4.2% and 3.9% price rally in MANSARD and NEM respectively. The Oil & Gas index appreciated 25bps consequent on 1.2% and 0.6% gains in SEPLAT and MOBIL respectively. On a positive note, the Industrial goods index also up-ticked by 6bps as a result of 4.0% and 4.9% price uptrend in JBERGER and CCNN respectively.

The market breadth (advancers/decliners) closed at 1.3x (Previous: 1.5x) as 24 stocks advanced and 18 stocks declined for the day. The top gainers were  LEARNAFRICA (8.0%), ETERNA (7.7%) and INFINITY (5.0%), while top losers were CHAMPION (-4.8%), AIRSERVICE (-4.7%) and TIGERBRANDS (-4.5%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Sentiment Closed Strong and Positive…NSE ASI Up 51bps

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Bargain hunting continue to outweigh profit taking in the Nigeria equities bourse as performance across key indices turned green. The market closed positive for the second consecutive trading session of the week to appreciate NSE ASI by 0.51% to settle at 24,784.95 points, tempering WtD and YtD at 0.60% and -13.47% respectively. Market performance for the day was lifted by price appreciation in SEPLAT (0.90%), FLOURMILL (3.3%), GUARANTY (2.9%) and ZENITHBANK (2.4%). In the same vein, market capitalization lost N43.25bn to close lower at N8.52tn, while market activity as measured by Value and Volume declined by 22.76% and 30.50% to N1.11bn and 158.75mn units respectively.

Activity at the bourse was broadly positive as all the key indices closed green. The Banking Index led the performance in the market as bargain hunting persist in GUARANTY (2.9%), ZENITH (2.4%) and UBN (2.4%) to lift the index by 2.0%. Price appreciation of 86bps and 4.9% in SEPLAT and OANDO boost the Oil and Gas index by 48bps. Followed by the Consumer Goods index, the index gained 59bps consequent on 3.3% and 62bps bargain hunting in FLOURMILL AND NB, while the Insurance Index appreciated marginally by 15bps as positive sentiment persist in AIICO (4.4%).

The market breadth (advancers/decliners) closed at 2.1x (Previous: 1.4x) as 23 stocks advanced and 11 stocks declined for the day. The top gainers were  TIGERBRANDS (10.0%), ETERNA (9.4%) and UAC-PROP (5.0%), while top losers were SKYEBANK (-5.9%), AIRSERVICE (-5.0%) and CUSTODYINS (-4.9%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Took a Breather…NSE ASI Down 37bps

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After two consecutive days of bullish trading in the bourse, the Nigerian equities market closed the fourth trading day bearish as profit taking toppled market activities. The NSE ASI depreciated 0.37% to settle at 25,369.52 points, moderating WtD and YtD to -0.54% and -11.43% respectively on the back of price downturn in NESTLE (-2.2%), DANGCEM (-1.2%), UACN (-4.7%) and STANBIC (-1.8). In the same vein, market capitalization declined by N32 million to close lower at N8.72 trillion, while market activity as measured by Value and Volume adjusted by -85.22% and 30.40% to N1.31 billion and 264.70 million units.

Most market indices closed negative save for the Insurance and Banking indices that traded northwards. The Industrial Goods index declined by 68bps consequent on 1.2% and 0.2% price downturn in DANGCEM and JBERGER respectively. The Consumer Goods index waned 20bps on the back of 2.2% and 2.1% profit taking in NESTLE and HONYFLOUR respectively. The Oil & Gas index also toppled 15bps in effect to 4.9% and 0.6% loss in OANDO and ETERNA respectively. On the flip side, the Insurance index advanced by 112bps consequent on 5.0% and 1.1% price rally in MANSARD and CONTISURE respectively. In the same trend, the Banking index appreciated by 65bps in respect to 1.0% a piece gains in ETI and GTB.

The market breadth (advancers/decliners) closed positive and stronger at 1.3x(Previous: 0.7x) as 20 stocks advanced and 16 stocks declined for the day. The top gainers were AGLEVENT (5.0%), OKUMUOIL (5.0%) and MANSARD(5.0%), while top losers were MAYBAKER (-5.0%), OANDO (-4.9%) and FIDSON(-4.9%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Bargain Hunting in Consumer Goods Boost the Bourse …NSE ASI Up 42bps

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The Nigerian equities market closed the second trading day of week bullish as bargain hunting triumph in bellwether Consumer Goods and  Banking stocks. The NSE ASI appreciated 0.42% to settle at 25,454.75 points, moderating WtD and YtD to 1.23% and –11.13% respectively on the back of price uptrend in NB (3.9%), SEPLAT (0.15%), NASCON (4.9%) and CUSTODYINS (4.9). In the same vein, market capitalization advanced by N36.34 billion to close higher at N8.76 trillion, while market activity as measured by Value and Volume       declined by 38.98%  and 26.91% to N1.01 billion and 177.35 million units.

The market traded on a mixed note with prices advancing in the Consumer Goods and Banking indices while other market indices waned. The Consumer Goods index advanced by 145bps consequent on 3.9% and 4.9% price rally in NB and NASCON respectively. Also on a positive, the Banking index gained 36bps on the back of 1.1% and 0.8% price uptick in ZENITHBANK and GTB respectively. On the flip side, The Insurance and Oil & Gas indices declined by 67bps and 31bps respectively in effect of 3.2% and 4.4% loss in MANSARD and SEPLAT respectively. Also, the Industrial index depreciated 6bps consequent on 4.9% and 5.0% sell-off in CCNN and PORTPAINT respectively.

The market breadth (advancers/decliners) closed positive but strong at 0.9x(Previous: 0.7x) as 16 stocks advanced and 18 stocks declined for the day. The top gainers were ETRANZACT (5.0%), TIGERBRANDS (5.0%) and NASCON (4.9%), while top losers were PORTPAINT (-5.0%), CCNN (-4.9%) and LIVESTOCK (-4.8%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Selloff in Consumer Goods Dampen The Bourse…NSE ASI Down 52bps

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The bearish sentiment in the bourse persist for the second consecutive trading day of the week as selloff persist in bellwether consumer goods and Banking stocks. The NSE ASI  depreciated 0.52% to settle at 25,411.69 points, dampening WtD and YtD to -1.26% and -11.28% respectively on the back of price downtrend in NB (-4.3%), GUINNESS (-2.9%), ZENITH (-3.0%) and UBA (-9.3%). In the same vein, market capitalization depreciated further by N45.41 billion to close lower at N8.64 trillion, while market activity as measured by Value and Volume increased by 78.3%  and 59.8% to N2.13 billion and 504.07 million units.

Activities in the bourse was broadly mixed as most indices closed in the red save Oil & Gas and the Industrial Goods Indices. The Industrial Goods index  closed positive as 2.6% and 1.3% price appreciation in WAPCO and DANGCEM respectively uplift the index by 1.7% to lead the gainers list. The positive close of the Oil & Gas Index by 1.65% was on the back of 3.3% price uptrend in SEPLAT after previous selloff as a result of a lower FY:2015 performance with PAT down 74%. On the flip side, the bearish sentiment in the Banking Index persist as profit taking linger in ZENITH (-3.1%) and UBA (-9.3%) to depreciate the index further by 2.6% leading the losers list. Followed by the Consumer Goods Index as selloff persist In NB and GUINNESS by 4.3% and 2.9% respectively to decline the index by 2.0%. The Insurance Index also closed negative as 2.6% and 4.4% price downtrend in CUSTODYNS and CONTINSURE dampened the index by 51bps.

The market breadth (advancers/decliners) closed higher but weak at 0.6x (Previous: 0.4x) as 15 stocks advanced and 23 stocks declined for the day. The top gainers were VITAFOAM (9.5%), NASCON (7.3%) and CHAMPION (4.8%), while top losers were UBA (-9.3%), UCAP (-5.6%) and FBNH (-5.4%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Closed The Week Bullish…NSE ASI Up 6bps

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After a week of mixed performance across indices, the Nigeria bourse closed the third consecutive trading week positive. The NSE ASI maintained a positive momentum for the last two days of the week consequent on rally in the consumer goods index to appreciate the benchmark index by 0.06% to settle at 25,694.79 points, tampering WtD and YtD at -1.13% and -10.29% respectively, on the back of price uptrend in NB (5.0%), UNILEVER (5.0%) and ZENITH (4.2%). In the same vein, market capitalization appreciated by N5.43 billion to close higher at  N8.84 trillion, while market activity as measured by Value and Volume increased by 12.6% and 10.5% to N1.89 billion and 222.25 million units.

The Consumer Goods index maintained bullish rally advancing by 196bps on the back of 5.0% a piece price uptrend in NB and UNILEVER respectively. The Insurance index also up-ticked by 2bps in effect of 1.3% rally in AIICO. On the flip side, the Oil & Gas index declined by 184bps consequent on 5.7% and 3.6% profit taking in SEPLAT and OANDO respectively. The Industrial index depreciated by 135bps due to 3.6% price downtrend in WAPCO. In the same trend, the Banking index waned by 73bps on the back of 4.2% and 4.3% bearish sentiments in GTB and ETI respectively.

The market breadth (advancers/decliners) closed positive and stronger at 0.7x (Vs 0.5x in the previous trading session) as 15 stocks advanced and 22 stocks declined for the day. The top gainers were LAWUNION (9.4%), HONYFLOUR (5.2%) and NB (5.0%), while top losers were DANGSUGAR (-6.5%), SEPLAT (-5.7%) and LIVESTOCK (-5.0%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Rally Tempered…NSE ASI Down 52bps

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After a week of extended bullish rally in the bourse, the Nigerian equities market  open the new trading week bearish consequent on profit taking in Consumer Goods, Industrial Goods and the Insurance Indices. The NSE ASI declined 0.52% to settle at 25,853.58 points dampening WtD and YtD to -0.14% and -9.7% respectively, on the back of price downtrend in 7UP (-5.0%), NB (-3.0%) and DANGCEM (-1.2%). In the same vein, market capitalization waned by N46.38 billion to close lower at  N8.89 trillion, while market activity as measured by Value and Volume appreciated by 8.3% and 5.4% to N1.40 billion and 174.50 million units.

Performance across indices was mixed. The Consumer Goods and Industrial Goods Indices declined 1.3% a piece, consequent on -5.0% and -1.2% profit taking in 7UP and DANGCEM respectively. Followed by the Insurance Index as  sell-off in MANSARD (-2.7%) dampened the index by 64bps. On the flip side, the Banking Index led the gainers list consequent on bullish sentiment in ZENITHBNK (4.5%) and GUARANTY (2.2%) to appreciate the index by 1.2%. Followed by the Oil & Gas index, the index appreciated 21bps on the back of  10% and 29bps bargain hunting in CONOIL and SEPLAT respectively.

The market breadth (advancers/decliners) closed weaker at 0.7x (Vs 1.8x in the previous trading session) as 21 stocks advanced and 12 stocks declined for the day. The top gainers were CONOIL (10.1%), TIGERBRANDS (9.9%) and UACN (5.0%), while top losers were HONYFLOUR (-5.0%), 7UP (-5.0%) and STERLNBANK (-4.7%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Maintained Positive Momentum…NSE ASI Up 15bps

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The Nigerian equities market closed positive to maintain the bullish momentum as most market indices traded northwards. The NSE ASI appreciated 0.15% to settle at 25,923.77 points tempering WtD and YtD to 0.4% and -9.5% respectively, consequent on bargain hunting in DANGCEM (0.6%), FLOURMILL (5.0%) and OANDO (9.5%). In a similar vein, market capitalization advanced by N7.1 billion to close higher at  N8.92trillion, while market activity as measured by Value and Volume appreciated by 51.9% and 44.5% to N2.1 billion and 310.7 million units.

Most indices closed positive save for the Consumer goods index. The Oil & Gas index appreciated by 72bps on the back of 9.5% price appreciation in OANDO. In the same vein, the Industrial goods index improved by 24bps consequent on 61bps rally in DANGCEM. The Insurance index closed bullish by 16bps on the back of 90bps gain in MANSARD. Also, the Banking index appreciated 4bps as a result of 4.5% price rally in ACCESS. On the flip side, the Consumer goods index declined by 52bps on the back of 2.1% profit taking in NESTLE.

The market breadth (advancers/decliners) closed weak at 1.3x (Vs 2.3x in the previous trading session) as 19 stocks advanced and 15 stocks declined for the day. The top gainers were TIGERBRANDS(9.7%), OANDO (9.5%) and HONYFLOUR (8.9%), while top losers were CAVERTON (-5.0%), AGLEVENT (-5.0%) and UBN (-4.5%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Took a Breather…NSE ASI Down 53bps

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After seven days of bullish rally in the bourse, the Nigerian equities market took a breather. The NSE ASI depreciated 53bps to settle at 25,755.01 points  dampening WtD and YtD to 3.4% and -10.1% respectively, consequent on profit taking in DANGCEM (-2.9%), NB (-2.0%) and ETI (-0.9%). In the same vein, the market capitalization lost N48.32 billion to close lower at  N8.85 trillion, while market activity as measured by Value and Volume improved by 7.9% and 25.3% to N1.42 billion and 233.42 million units.

Most indices closed positive save for the Industrial and Consumer goods indices. The Industrial Goods index waned by 44bps consequent on 2.9% and 1.3% profit taking in DANGCEM and CCNN respectively. In the same vein, the Consumer goods index also declined by 40bps on the back of 2.0% a piece profit taking in NB and NASCON. On the flip side, the Oil & Gas index up-ticked by 0.6% consequent on 10.1% gains in OANDO. The Insurance index appreciated by 0.7% on the back of 2.8% and 2.6% price rally in MANSARD and AIICO respectively. Similarly, the Banking index appreciated by 1.3% consequent on 6.8% and 2.1% price rally in UBN and STANBIC respectively.

The market breadth (advancers/decliners) closed positive and strong at 1.8x (Vs 1.7x in the previous trading session) as 24 stocks advanced and 13 stocks declined for the day. The top gainers were OANDO (10.1%), TIGERBRANDS(9.5%), and UBA (8.1%), while top losers were UCAP (-4.8%), NPFMCRFBK (-4.7%) and DANGCEM (-2.9%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Investors’ Gusto Closed The Week Bullish…NSE ASI Up 1bps

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The bullish rally in the bourse persisted to close the trading week positive as investors bought equities with gusto, consequent on the bargain hunting in bellwether stocks. The NSE ASI appreciated 1bps to settle at 25,820.10 points strengthening WtD and YtD to 7.4% and -9.9% respectively, consequent on marginal price appreciation in GUINNESS (0.44%), SEPLAT (0.14%) and ZENITH (1.9%). In the same vein, the market capitalization gained N1.31 billion to close higher at  N8.88 trillion, while market activity as measured by Value and Volume declined by 34.1% and 19.2% to N1.49 billion and 256.25 million units.

Most sector indices closed positive save for the Consumer Goods Index. The Insurance index appreciated by 77bps consequent on 4.6% price appreciation in MANSARD, to lead the gainers list. Followed by the Banking and Industrial Goods indices as 49bps and 1.9% bargain hunting in WAPCO and ZENITH respectively, improved the indices by 0.2% a piece. The Oil & Gas index closed the day positive on the back of 14bps price appreciation in SEPLAT, to improve the index by 4bps. On the Flip side, the Consumer Goods index declined by 3bps consequent on  20bps and 81bps price downtrend in NB and FLOURMILL respectively to close the day a lone loser.

The market breadth (advancers/decliners) closed negative at 0.8x (Vs 2.3x in the previous trading session) as 15 stocks advanced and 19 stocks declined for the day. The top gainers were AFRIPUD (9.7%), UCAP (7.6%), and UBN (4.9%), while top losers were IKEJAHOTEL (-4.9%), LEARNAFRCA (-4.4%) and STERLNBANK (-4.1%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Extends Bullish Sentiment…NSE ASI Up 225bps

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The bullish rally in the bourse was extended for the third consecutive trading day of the week, consequent on the bullish rally in DANGCEM and strategic positioning in other bellwether stocks. The NSE ASI appreciated 2.3% to settle at 24,396.83 points tempering WtD and YtD to 6.4% and -11.3% respectively, consequent on bargain hunting in DANGCEM (7.5%), ZENITH (5.0%) and NB (0.5%). In the same vein, the market capitalization gained N192.15 billion to close higher at  N8.74 trillion, while market activity as measured by Value and Volume appreciated by 48.8% and 72.2% to N1.64 billion and 275.09 million units.

Most sector indices closed positive save for the Oil & Gas Index. The Industrial Goods index appreciated by 1.2% consequent on 5.0%  and 43bps rally in DANGCEM and WAPCO respectively, to lead the gainers list for the third consecutive trading day. Followed by the Banking index as 5.0% and 2.5% bargain hunting in ZENITH and ETI respectively, improved the index to appreciate by 1.9%. The Insurance Index reversed from previous losses as renewed optimism in MANSRAD (4.4%) and AIICO (3.9%) up-ticked the index by 1.1%. In the same vein, the Consumer Goods index joined the gainers list as 47bps and 5.0% price uptrend in NB and DANGSUGAR respectively, closed the index marginally by 2bps. On the flip side, the Oil and Gas index declined 2.4% consequent on 5% a piece profit taking in TOTAL and FO.

The market breadth (advancers/decliners) closed higher at 1.4x (Vs 1.3x in the previous trading session) as 21 stocks advanced and 15 stocks declined for the day. The top gainers were TIGERBRANDS (9.3%), DANGCEM (7.5%), and OANDO (7.3%), while top losers were FIDSON (-9.4%), FO (-5.0%) and TOTAL (-5.0%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Resume the Week Bullish…NSE ASI Up 141bps

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Following the positive close of market in the previous week amidst lackluster performance, the Nigerian equities market lead off with a positive opening for the new trading week. The NSE ASI appreciated 1.4% to settle at 24,570.73 points tempering WtD and YtD to 60bps and -14.22% respectively, consequent on positive momentum in the Industrial Goods, Oil & Gas and Banking Sector indices. The positive opening of the index was a reflection of  bargain hunting in SEPLAT (2.7%), DANGCEM (5.0%) and ETI (5.0%). In the same vein, the market capitalization gained N117.64 billion to close higher at  N8.45 trillion, while market activity as measured by value depreciated by 13.7% to N1.49 billion while market volume appreciated by 66.5% to 467.11 million units.

Most sector indices closed positive save for the Insurance and Consumer Goods Index. The Industrial Goods index appreciated by 2.5% consequent on 5.0% rally in DANGCEM, to lead the gainers list. Followed by the Oil & Gas index as the 2.7% and 4.6% bargain hunting in SEPLAT and MOBIL improved the index to appreciate by 57bps. The Banking Index also joined the gainers list as 5.0% and 63bps bargain hunting in ETI and GUARANTY respectively up ticked the index by 43bps. On the flip side, the Consumer Goods and Insurance Index depreciated 50bps a piece consequent on 4.9% and 3.3% price downtrend in FIDSON and CONTINSURE respectively.

At the close of trading, market breadth (advancers/decliners) closed higher signaling improved investors sentiment  at 1.0x (Vs 0.8x in the previous trading session) as 18 stocks advanced and 18 stocks declined for the day. The top gainers were DANGCEM (5.0%), ETI(5.0%), and FIDSON (4.9%), while top losers were WEMABANK (-7.3%), OANDO (-7.2%) and IKEJAHOTEL (-5.0%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Extend Losses…NSE ASI Down 136bps

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Amidst lackluster performance, the Nigerian equities market closed the second consecutive trading day of the week in the red as most of the indices trended southwards. The activities in the market was dampened by sell-off in the Banking, Industrial Goods and Oil & Gas Indices to decline the NSE ASI by 1.36% to settle at 24,090.98 points closing WtD and YtD at -1.7% and -15.9% respectively, consequent on  profit taking in  DANGCEM (-4.9%), MOBIL (-0.67%) and ETI (-3.9%). In the same vein, market capitalization lost N114.3billion to close lower at  N8.29trillion, while market activity as measured by value and volume depreciated by 78.9% and 41.6% to N1.26 billion and 201.52 million units respectively.

Most sector indices closed negative save for the Insurance and Consumer Goods Index. The Banking Index dipped by 100bps consequent on 3.9% and 7.4% sell-off in ETI and DIAMONDBNK respectively to lead the losers list. Followed by the Industrial Goods index as 4.9% price downtrend in DANGCEM depreciated the index by 51bps. The Oil & Gas Index also joined the losers list as 67bps and 4.9% profit taking in MOBIL and OANDO respectively declined the index by 33bps. On the flip side, the Consumer Goods index led the gainers list consequent on 1.8% and 1.1% bargain hunting in 7UP and NIGERIAN BREWERIES to improve the index by 44bps. Followed by the Insurance index on the back of 2.5% and 3.3% price appreciation in CUSTODYNS and CONTINSURE, to close the index higher by 16bps.

At the close of trading, market breadth (advancers/decliners) closed lower signaling decline in investors sentiment  at 0.5x (Vs 1.4x in the previous trading session) as 16 stocks advanced and 26 stocks declined for the day. The top gainers were UNITYBNK (7.9%), WAPCO (5.0%) and HONYFLOUR (4.4%), while top losers were DIAMONDBNK (-7.4%), CHAMPION (-4.9%) and OANDO(-4.9%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Closed The Week Positive…NSE ASI Up 70bps

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After five days of mixed reactions in the bourse, the Nigerian equities market closed positive for the second consecutive week. The NSE ASI appreciated 0.70% to settle at 24,432.51 points tempering WtD and YtD to -1.04% and -15.30% respectively, consequent on bargain hunting in Consumer Goods, Oil & Gas, Banking and the Insurance Index. The positive close of the index was on the back of price appreciation in NESTLE (7.7%), SEPLAT (5.0%), CONOIL(4.9%) and GUARANTY (1.0%). In the same vein, market capitalization advanced by N58.80 billion to close higher at  N8.40trillion, while market activity as measured by value depreciated by 3.58% while market volume appreciated by 44.5%  to N9.3billion and 172.3 million respectively.

Most sector indices closed positive save for the Industrial Goods Index. Consequent on 7.7% and 4.8% bargain hunting in NESTLE and INTBREW respectively, the consumer goods index appreciated by 2.36% to lead the gainers list. The Oil & Gas index appreciated 109bps with SEPLAT (5.0%) and CONOIL (4.9%) taking the lead. The Banking Index also rose by 32bps as GUARANTY and ZENITHBANK gained 1.0% and 0.9%% respectively. This is followed by the 12bps appreciation in the Insurance Index as CUSTODYINS rose by 0.25%. On the flip side, the Industrial Goods index closed negative at 2bps as  PORTPAINT lost  9.4%.

At the close of trading, market breadth (advancers/decliners) closed higher signaling improved investors sentiment  at 1.4x (Vs 0.8x in the previous trading session) as 22 stocks advanced and 16 stocks declined for the day. The top gainers were NESTLE (7.7%), TIGERBRANDS (5.0%), and GSK (5.0%), while top losers were PORTPAINT(-9.4%), DIAMONDBNK(-6.6%) and VITAFOAM(-4.9%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

PROFIT TAKING RESURFACE IN THE BOURSE…NSE ASI Down 187bps

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The Nigerian equities market closed negative for the second consecutive trading day after six days of bullish rally in the bourse. The downtrend in performance is on the back of profit taking in the Industrial Goods, Consumer Goods and the Banking index. The NSE ASI dipped 1.9% settling at 24,056.12 points, dampening WtD and YtD to 33bps and -16.0% respectively. The negative close of the index was consequent on price down trend in DANGCEM (-4.2%), NESTLE (-2.6%) and GUINNESS (-4.5). In the same vein, market capitalization lost N157.78 billion to close at N8.27 trillion, while market activity as measured by value declined by 32.2% and volume appreciated by 15.4% to N1.9 billion and 335.6million units respectively.

The market experienced a mixed performance as most sector indices closed negative save for the Oil & Gas and Insurance Index.  As the rally persists in SEPLAT (5.0%) to appreciate 8.8% WtD, the Oil & Gas appreciated marginally by 74bps. Consequent on 50bps price uptrend in CUSTODYNS, the Insurance index tepid higher by 10bps.  On the flip side, the Industrial Goods index declined by 2.3% as profit taking persist in DANGCEM (-4.2%) for the second consecutive day. Followed by the Consumer Goods Index as sell-off in NESTLE (-2.6%) and GUINNESS (-4.5) declined the Index by 1.8%. In the same vein, the Banking Index lost 94bps as GUARANTY and ZENITH lost 2.9% and 1.6%  respectively.

The market sentiment (as measured by the ratio of advancers to decliners) dampened to signal decline investors sentiment  at 0.5x (Vs 0.8x in the previous trading session as 27 stocks advanced and 13 stocks declined for the day. The top gainers were SEPLAT (5.0%), NPFMCRFBK (4.9%) and NAHCO (4.8%), while top losers were NNFM (-9.5%), UNILEVER (-5.0%) and LEARNAFRCA (-4.9%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Bargain Hunting Retreat…NSE ASI Down 126bps

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After six days of consecutive bullish rally in the bourse, the Nigerian equities market closed negative at the close of trading to dip the NSE ASI by 126bps to settle at 24,514.91points, tempering WtD and YtD to 2.23% and -14.41% respectively. The negative close of the index was on the back of a price down trend in DANGCEM (-3.9%), 7UP (-2.6 %) and MANSARD (-4.7). In the same vein, market capitalization lost N107.51billion to close at N8.43 trillion, while market activity as measured by value and volume declined by –1.46% and 2.62% to N2.8 billion and 290.94million units respectively.

Most sector indices closed negative save for the Bank and Oil and Gas Index. Consequent on -3.9% profit taking in DANGCEM, the Industrial Goods Index shed -2.12%. Followed by the Insurance Index as sell-off resurface in MANSARD (-4.7%) and CONTINSURE (-4.1%) to decline the index by 1.5%. The Consumer goods index also closed negative by -0.6% as a result of profit taking in 7UP (-2.6%) and NB (-1.2%). On the flip side, the Banking and Oil and  Gas  Index gained 22bps  and 4bps respectively, consequent on 3.7% and 53bps bargain hunting FBNH and OANDO respectively.

At the close of trading, market breadth as measured by the ratio of advancers to decliners closed lower signaling decline investors sentiment  at 0.8x (Vs 0.5x in the previous trading session as 16 stocks advanced and 19 stocks declined for the day. The top gainers were MAYBAKER (5.0%), GLAXOSMITH(4.9%), and ETERNA (4.9%), while top losers were CHAMPION (-5.0%), CAVERTON(-4.9%) and LEARNAFRCA (-4.7%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Momentum Closed the Week Positive…NSE ASI Up 10bps

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The Nigerian equities market closed positive for the fifth consecutive trading day, to close the week bullish as bargain hunting persist in the bourse. The NSE ASI gained a 10bps to settle at 24,689.69points, tempering WtD and YtD to 5.05% and -13.8% respectively. The positive close of the index was on the back of bargain hunting in FO (4.9%), WAPCO(2.6%) and DANGCEM (1.0%). In the same vein, market capitalization gained N8.53 billion to close at N8.49 trillion, while market activity as measured by value appreciated by 172.9% and volume declined 22.56% to N8.9 billion and 311.59 million units respectively.

Most sector indices closed negative save for the Industrial and Oil and Gas Index. Consequent on 3.2% and 4.4% profit taking in ZENITHBANK and ACCESS respectively, the Banking index declined 1.3% to lead the losers list. The Consumer Goods Index lost 82bps consequent on NESTLE (-0.71%) and UNILEVER (-7.02%). On the back of 2.4% downtrend in AIICO, the Insurance Index lost 14bps. On the flip side, the rally in the Oil and Gas Index persist for the fourth consecutive trading day, to appreciate by 1.9% on the back of positive sentiment in FO (4.9%). Followed by Industrial Goods Index, as rally in WAPCO (2.6%) and DANCEM (1.0%) persist to appreciate by 1.5%.

At the close of trading, market breadth as measured by the ratio of advancers to decliners closed lower signaling decline investors sentiment at 0.4x (Vs 0.6x in the previous trading session) as 11 stocks advanced and 26 stocks declined for the day. The top gainers were FO (4.9%), LEARNAFRCA (4.7%), and HONYFLOUR (4.2%), while top losers were UNILEVER (-7.0%), NEIMETH (-4.9%) and CHAMPION (-4.8%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments. More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Closed Marginally Positive…NSE ASI Up 2bps

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The Nigerian equities market closed positive for the second consecutive trading day of the week, the NSE ASI gained a marginal 2bps to settle at 23,981.09 points moving WtD and YtD to 61bps and -16.27%, respectively. The positive close of the index was on the back of improved investors sentiments in 7UP (4.1%), MOBIL (4.8%) and SEPLAT (2.0%). In the same vein, market capitalization gained N1.37 billion to close higher at  N8.25trillion, while market activity as measured by value and volume declined by 10.3% and  11.0% to N1.52 billion and 169.50 million units respectively.

Most sector indices closed positive save for the Banking Index. Consequent on 4.5% and 3.3% profit taking in ETI and UBN, the Banking index declined 92bps as a lone loser. On the flip side, the consumers Goods Index closed positive to reverse yesterday’s loss consequent on 4.1% and 5.0% price appreciation in 7UP and UNILEVER respectively, to lead top gainers. Followed by the Oil and Gas Index, the index closed positive on the back of continuous rally in MOBIL (4.8%) and SEPLAT (2.0%) to appreciate 68bps. Bargain hunting in the Insurance Index persist on the back of positive sentiment in AIICO (4.7%) and NEM (1.5%) to close the index higher by 34bps. The Industrial Goods index closed marginally higher on the back of 4.4% price appreciation in PORTPAINT.

At the close of trading, market breadth as measured by the ratio of advancers to decliners closed higher signaling improved investors sentiment  at 1.1x (Vs 0.8x in the previous trading session) as 19 stocks advanced and 18 stocks declined for the day. The top gainers were STERLNBNK (8.2%), UNILEVER (5.0%), and MOBIL (4.8%), while top losers were UACN (-4.9%), FIDELITYBK (-4.8%) and ETI (-4.5%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Closed The Week Bearish…NSE ASI Down 7bps

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The Nigerian equities market closed negative for the third consecutive trading day, consequent on sell-off in the Oil and Gas and Industrial Goods Sector. The NSE ASI shed 7bps to settle at 23,501.87 points moving WtD and YtD to 173bps and -18.0%, respectively. The negative close of the index was consequent on profit taking in FO (-3.2%), BETAGLAS (-6.5%) and TOTAL (-1.8%). In the same vein, market capitalization lost N5.3billion to close lower at  N8.1 trillion, while market activity as measured by value and volume declined by 46.2% and 87% to N2.02 billion and 344.61 million units respectively.

Most sector indices closed negative save for the Insurance and Consumer Goods Index. Consequent on 3.2% and 1.6% profit taking in FO and TOTAL, the Oil and Gas index declined 105bps to lead top losers. On the back of 6.5% price downtrend in BETAGLAS, the Industrial Goods Index depreciated 20bps. Followed by the Banking Index, the index depreciated 12bps on the back of profit taking in ZENITH (-1.3%) and 73bps in ACCESS.  On the flip side, consequent on 4.1% and 3.2% price appreciation in CUSTODYNS and MANSARD respectively, the Insurance Index close positive by 81bps to lead top gainers. Followed by the Consumer Goods index, on the back of price appreciation in UACN (10.0%) and NB (1.0%), the index appreciated of 23bps.

At the close of trading, market breadth as measured by the ratio of advancers to decliners closed lower signaling weakness  in investors sentiment  at 0.9x (Vs 0.7x in the previous trading session) as 20 stocks advanced and 23 stocks declined for the day. The top gainers were UACN (10.0%), MOBIL (5.0%), and IKEJAHOTEL (4.7%), while top losers were BETAGLAS (-6.5%), CADBURY (-5.0%) and GLAXOSMITH  (-5.0%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Sentiment Dip Further…NSE ASI Down 96bps

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The Nigeria equities market closed negative at the close of trading, consequent on profit taking in the Banking, Consumer Goods and Industrial Goods sector. The NSE ASI shed 96bps to settle at 23,605.89 points moving WtD and YtD to 1.2% and -17.6%, respectively. The negative close of the index was consequent on profit taking in NB (-4.3%), DANGCEM (-0.8%) and GUARANTY (-5.1%). In the same vein, market capitalization lost N78.8billion to close lower at  N8.12 trillion, while market activity as measured by value and volume improved by 20.8% and 319.3% to N2.9 billion and 1.32 billion units respectively.

Most sector indices closed negative  save for the Oil and Gas, and Insurance Index. Consequent on 5% a piece profit taking in GUARANTY and ZENITHBANK, The Banking index declined 2.9% to lead top losers. Followed by the Consumer Goods Index, the index depreciated 83bps on the back of sell-off in NB (-4.3%) and UNILEVER (-5.0%). The Industrial Goods Index reversed yesterday’s price appreciation on the back of price downtrend in DANGCEM (-0.8%) and CCNN (-5.0%) to shed 47bps. On the flip side, as aggressive bargain hunting persist in SEPLAT (10.2%), the Oil and Gas Index closed positive by 2.1% to lead top gainers. Followed by the Insurance index as price appreciation of 3.3% in MANSARD closed the index higher by 55bps.

At the close of trading, market breadth as measured by the ratio of advancers to decliners closed lower signaling weakness  in investors sentiment  at 0.3x (Vs 1.3x in the previous trading session) as 10 stocks advanced and 29 stocks declined for the day. The top gainers were SEPLAT (10.3%), FLOURMILL (10.0%), and INTBREW (6.1%), while top losers were ZENITHBANK (-5.2%), GUARANTY (-5.1%) and PORTPAINT (-5.0%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Open the Week Bearish …NSE ASI Down 37bps

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After two days of consecutive price appreciation in most indices, the Nigeria equities market closed southwards at the close of trading to start the on a bearish note, the NSE ASI shed 37bps to settle at 23,826.76 points moving WtD to -57bps and tempering YtD to -16.8%. The negative close of the index was consequent on profit taking in FO (5.0%), 7UP (5.0%) and DANGCEM (1.4%). In the same vein, market capitalization lost N30.7billion to close lower at  N8.19 trillion, while market activity as measured by value and volume declined by -25.4% and -3.8% to N1.49 billion and 232.19 units respectively.

Most sector indices closed negative  save for the Banking and Insurance Index. The Banking Index led top gainers  on the back of 8.6% and 4.7% gains in ZENITH and STERLNBNK respectively to improve the index by 2.1%. Consequent on 1.0% price appreciation in CONTINSURE, losses in the Insurance Index tempered by 5bps. On the flip side, on the back of 5.0% a piece sell-off in FO and TOTAL, the Oil and Gas Index closed negative by 2.4% to lead top losers. Followed by the Consumer Goods index as further dumping in 7UP (-5.0%) and GUINNESS (-3.7%) closed the index lower by 74bps. As a result of profit taking in DANGCEM (-1.4%) and PORTPAINT (-5.0%), the Industrial Goods Index depreciated 65bps.

At the close of trading, market breadth as measured by the ratio of advancers to decliners closed negative signaling  decline in investors sentiment  at 0.8x as 25 stocks advanced and 19 stocks declined for the day. The top gainers were ZENITH (8.6%), HONYFLOUR (5.5%), and SEPLAT (5.0%), while top losers were CONOIL (-9.7%), PORTPAINT (-5.0%) and TOTAL (-5.0%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

SELL-OFF IN CONSUMER GOODS SECTOR DAMPEN MARKET ACTIVITY …NSE ASI Down 55bps

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The Nigeria equities market closed the day negative after four days rally as investors take advantage of the attractive valuations. Today’s negative close was consequent on sell-off in large cap stocks in the consumer goods index to close the benchmark index lower by 55bps to settle at 23,832.03 points tempering WtD and YtD  to 6.1% and -16.8% respectively. In the same vein, market capitalization lost N45.26 billion to close lower at  N8.20 trillion, while market activity as measured by value and volume closed N1.64 billion and 142.85 million respectively.

At the close of trading, most sector indices closed negative save for the Oil and Gas Index. The Consumer Goods Index led top losers  on the back of -2.2% and -5.0% sell-off in NESTLE and UNILEVER respectively to decline the index by 98bps. Followed by the Banking Index as sell-off in bellwether stocks; GUARANTY (-1.8%) and STANBIC (-2.3%) dampen the index by 97bps .  Similarly, price decline in MANSARD (-3.4%) and AIICO (-1.2%) resulted in the Insurance Index closing in the negative. As a result of 14bps price downtrend in DANGCEM the Industrial Goods Index closed -8bps. On the flip side, following 3.9% and 3.4% price gains in SEPLAT and OANDO respectively, the Oil and Gas index close positive by 84bps as a lone gainer.

At the close of trading, market breadth as measured by the ratio of advancers to decliners closed negative signaling  decline in investors sentiment  at 0.5x as 15 stocks advanced and 29 stocks declined for the day. The top gainers were CADBURY (+9.2%), AGLEVENT (5.0%), and SEPLAT (+3.9%), while top losers were CAVERTON (-8.5%), GLAXOSMITH (-5.0%) and UNILEVER (-5.0%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Bargain Hunting Extended…NSE ASI Up 59bps

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The Nigeria equities bourse closed positive for the third consecutive day after to extend the bargain hunting to close the week positive. The benchmark index closed positive by 59bps on the back of possible reversal of sentiment in 7UP (7.9%), SEPLAT (3.3%), GUINNESS (5.0%), NIGERIAN BREWERIES (2.4%) and CADBURY (10.2%) to improve market activity, closing the ASI higher at 23,826.50 points tempering WtD and YtD  to -2.3% and -17.3% respectively. In the same vein, market capitalization gained N48.09 billion to close higher at  N8.19 trillion, while market activity as measured by value and volume closed N1.89 billion and 1.01 billion respectively.

At the close of trading, most sector indices closed positive save for the Oil and Gas Index. The Banking Index led top gainers to appreciate by 1.8% on the back of 2.7% and 5.2% gains in ZENITH and UBN respectively. Followed by the Insurance Index as positive sentiment  in MANSARD (4.4%) appreciated by 1.1%. In the same vein, following 7.9% and 5.0% price appreciation in 7UP and GUINNESS, the Consumer Goods index close marginally higher by 55bps. The sell-off in the Industrial Goods Index yesterday reversed as a result of 74bps and 191bps price appreciation in  DANGCEM and ASHAKACEM, to close the index marginally higher by 38bps. On the flip side, the sell-off in the Oil and Gas index persist for the second consecutive day as a result of downtrend in FO (-5.0%) and OANDO (-2.1%) to dampen the index by -2.6%.

At the close of trading, market breadth as measured by the ratio of advancers to decliners stayed positive to close strong signaling  improved investors sentiment  at 2.5x as 30 stocks advanced and 12 stocks declined for the day. The top gainers were CADBURY (+10.2%), NAHCO(9.9%), and TRANSCORP (+9.4%), while top losers were FO (-5.0%), NESTLE (-5.0%) and NNFM (-4.9%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Profit Taking Persist…NSE ASI Up 1.5%

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The Nigeria equity bourse closed positive for the second consecutive day after a massive downtrend, the benchmark index closed positive by 1.5% on the back of possible reversal of sentiment in NESTLE (5.0%), 7UP (6.9%), NIGERIAN BREWERIES (8.1%), OKOMUOIL (7.2%) and GUINNESS (1.0%) to improve market activity, closing the ASI higher at 23,686.67 points tempering WtD and YtD  to -2.3% and -17.3% respectively. In the same vein, market capitalization gained N120.94 billion to close higher at  N8.15 trillion, while market activity as measured by value and volume closed N3.64 billion and 476.15 million respectively.

At the close of trading, most sector indices closed positive save for the Industrial Goods and Insurance Index. The Consumer Goods Index led top gainers to appreciate by 4.8% on the back of 5.0% and 6.9% gains in NESTLE and 7UP respectively. Followed by the Banking Index as positive sentiment  in UBN (9.9%) and ZENITHBANK (4.6%) appreciated the index marginally by 55bps. On the flip side, the Insurance index close marginally lower by 85bps consequent on 5% sell-offs in MANSARD. Following 1.9% and 1.8% price downtrend in ASHAKACEM and WAPCO respectively, the Industrial Goods Index declined marginally by 7bps.

At the close of trading, market breadth as measured by the ratio of advancers to decliners stayed positive to close strong signaling  improved investors sentiment  at 2.1x as 29 stocks advanced and 14 stocks declined for the day. The top gainers were FBNH (+10.3%), UBN (9.9%), and NB (+8.1%), while top losers were HONYFLOUR (-9.2%), STERLNBANK (-9.0%) and IKEJAHOTEL (-8.0%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Sell-Off Tempered…NSE ASI Down 42bps

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The apprehension in the Nigeria equities market, leading to huge sell-off in previous trading sessions of the year tempered today. The benchmark index closed marginally negative by 42bps on the back of extended negative sentiment in NESTLE (-4.0%), GUINNESS (-9.6%), SEPLAT (-5.0%), MOBIL (-5.0%) and 7UP (-2.6%) to decline market activity, closing the ASI lower at 22,456.32 points bringing WtD and YtD  to -13.7% and -21.6% respectively. In the same vein, market capitalization lost N32.17 billion to close lower at  N7.72 trillion, while market activity as measured by value and volume closed N1.97 billion and 256.39 million respectively.

At the close of trading, most sector indices closed positive save for the Consumer Goods Index and the Oil and Gas Index . The Consumer Goods Index led top losers to depreciate further by -2.2% on the back of losses in NESTLE (-4.0%) and GUINNESS (-9.6%). The continuous decline in the Oil and Gas Index persist consequent on losses in SEPLAT (-5.0%) and MOBIL (-5.0%) to decline the index by -1.7%. On the flip side, the aggressive sell-off in the Banking Index muted as the index appreciated by 54bps on the back of renewed positive sentiment in ZENITH (6.1%) and STANBIC (4.3%). As a result of 1.7% and 8.6% price GAINS in CUSTODYNS and NEM respectively, the Insurance Index closed marginally higher by  31bps. Following 2.2%  price appreciation in WAPCO, the Industrial Goods Index led the gainers list to appreciate marginally by 82bps.

At the close of trading, market breadth as measured by the ratio of advancers to decliners improved to close semi-strong to signal renewed sentiment  by investors at 0.9x as 24 stocks advanced and 27 stocks declined for the day. The top gainers were INTBREW (+9.4%), NEM (+8.6%), and UNITYBNK (+8.5%), while top losers were OKOMUOIL (-9.7%), GUINNESS (-9.6%) and CHAMPION (-8.6%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

How Much Further Lower for the Index…NSE ASI Down 3.0%

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There has been no respite so far for the index as the  downward spiral persist for the fifth consecutive trading days of the week, the benchmark index closed the week negative to slide further by -3.0% on the back of negative sentiment in NESTLE (-5.0%), 7UP (-5.0%), DANGCEM (-3.6%), WAPCO (-5.0%) and GUARANTY (-9.7%) to decline market activity for the day, closing the ASI lower at 23,514.04 points bringing WtD and YtD  to -13.0% and -17.9% respectively. In the same vein, market capitalization lost N249.66 billion to close lower at  N8.1 trillion, while market activity as measured by value and volume closed N6.18 billion and 476.45 million respectively.

At the close of trading, all sector indices closed negative for the sixth consecutive trading days of the year out of ten trading days. The Banking Index led top losers for the third consecutive trading days of the week to depreciate further by -7.0% on the back of -9.7% losses in GUARANTY and ZENITH. The continuous decline in the Industrial Goods Index persist consequent on losses in DANGCEM (-3.6%) and WAPCO (-5.0%). As the aggressive sell-off persist, the Insurance Index lost 86bps  on the back of negative sentiments in AIICO (-4.7%) and CONTINSURE (-4.4%). As a result of -9.3% price downtrend in OANDO, the Oil and Gas Index closed marginally lower by  72bps. Following -5% price downtrend in NESTLE and 7UP, the Consumer Goods Index experienced marginal loss of 44bps lower.

At the close of trading, market breadth as measured by the ratio of advancers to decliners closed weaker to signal increased loss of investors sentiment at 0.1x as 4 stocks advanced and 37 stocks declined for the day. The top gainers were NIGERIAN BREWERIES (+5.0%), TIGERBRANDS (+9.6%), and LIVESTOCK (+4.3%), while top losers were GUARANTY (-9.7%), ZENITHBANK (-9.8%) and CADBURY (-9.7%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Aggressive Sell-off Persist…NSE ASI Down 3.4%

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The free slump in the equities market persist for the fourth consecutive trading day of the week, the benchmark index slide further by -3.4% on the back of negative sentiment in SEPLAT (-9.6%), DANGCEM (-5.0%), MOBIL (-4.1%), GUINNESS (-5.0%) and PZ (-3.8%) to dampen market activity for the day, closing the ASI lower at 24,239.98 points bringing WtD and YtD  to -11.1% and -15.4% respectively. In the same vein, market capitalization lost N296.82 billion to close lower at  N8.34 trillion, while market activity as measured by value and volume closed N2.41 billion and 262.52 million respectively.

At the close of trading, all sector indices closed negative. The Banking Index led top losers to depreciate -4.7% on the back of losses in GUARANTY (-9.6%) and ZENITH (-4.4%). The Oil and Gas index depreciated further by -3.1% consequent on losses in SEPLAT (-9.6%) and MOBIL (-4.1%). Consequent on consistent sell-off in  DANGCEM (-2.9%) , the Industrial Goods Index shed 2.5%. As a result of -5.0% price downtrend in GUINNESS and NIGERIAN BREWERIES , the Consumer Goods Index lost 2.4%. Following 4bps and 3bps price downtrend in AIICO and CONTINSURE respectively, the Insurance index experienced marginal loss of 86bps lower.

At the close of trading, market breadth as measured by the ratio of advancers to decliners closed weaker to signal decline in investors sentiment at 0.2x as 5 stocks advanced and 31 stocks declined for the day. The top gainers were IKEJAHOTEL (+4.7%), HONYFLOUR (+4.7%), and FIDELITYBK (+3.9%), while top losers were SEPLAT (-9.8%), OANDO (-9.7%) and GUARANTY (-9.6%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Close Week The Week Bearish…NSE ASI Down 87bps

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The Nigerian equities market closed negative the first week of the trading year to reverse yesterday’s marginal gains , the benchmark index shed 0.87% on the back of negative sentiment in NIGERIAN BREWERIES (-3.1%), GLAXOSMITH (-3.5%), FLOURMILLS (-5.0%), ETI (-4.9%) and ZENITHBANK (-3.7%) to dampen market activity for the day, closing the ASI lower at 27,028.19 points bringing WtD change to -5.63% and tempering YtD change at -5.63%. In the same vein, market capitalization lost N81.78 billion to close lower at  N9.30 trillion, while market activity as measured by value and volume closed N1.94 billion and 235.49 million respectively.

At the close of trading, all sector indices closed negative. The Banking Index led top losers to depreciate -2.5% on the back of losses in ETI (-2.9%) and ZENITHBANK (-5.5%). The Consumer Goods Index depreciated -1.28% consequent on price downtrend in NIGERIAN BREWERIES (-3.1%) and FLOURMILLS (-5.0%). As a result of on 4.6% and 1.8% price downtrend in CONTINSURE and OANDO respectively, the Insurance Index and Oil and Gas Index lost 50bps and 18bps respectively  to join the losers list.

At the close of trading, market breadth as measured by the ratio of advancers to decliners closed weaker to signal decline in investors sentiment at 0.3x as 7 stocks advanced and 28 stocks declined for the day. The top gainers were OKOMUOIL (+9.9%), DANGSUGAR (+4.9%), IKEJAHOTEL (+4.8%), VONO (+4.4%) and LEARNAFRCA (+2.5%), while top losers were HONYFLOUR (-9.0%), UNITYBNK (-8.6%), FLOURMILL (-5.0%), ETI (-4.9%) and SKYEBANK (-4.8%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Slide Further…NSE ASI Down 3.28%

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The Nigerian equities market closed negative for the third consecutive trading days of the week, the benchmark index slide further by  3.28% on the back of negative sentiment in DANGCEM (-9.8%), PZ (-2.9%), NIGERIAN BREWERIES (-5.5%), UNHOMES (-9.5%) and UBN (-4.9%) to decline  market activity for the day, closing the ASI lower at 27,180.76 points bringing WtD change to -2.15% and tempering YtD at 5.10%. In the same vein, market capitalization lost N316.88 billion to close lower at  N9.35 trillion, while market activity as measured by value and volume closed N1.48 billion and 202.67 million respectively.

At the close of trading, all sector indices closed negative. The Consumer Goods Index led top losers to depreciate -2.09% on the back of losses in NIGERIAN BREWERIES (-2.9%) and PZ (-5.5%). Followed by Industrial Goods Index , consequent on -9.6% price loss in downtrend to close the index lower at -1.32%. The Banker Sector Index also reversed yesterday’s lone gainer surplus to decline -0.88% on the back of sell-off in SKYEBNK (-9.3%) and ACCESS (-2.6%). As a result of on 4.2% and 1.5% price downtrend in AIICO and OANDO respectively, the Insurance Index and Oil and Gas Index lost 27bps and 16bps respectively  to join the losers list.

At the close of trading, market breadth as measured by the ratio of advancers to decliners closed weaker to signal decline in investors sentiment at 0.6x as 14 stocks advanced and 21 stocks declined for the day. The top gainers were WAPCO (+9.4%), BERGER (+5.0%), NAHCO (+5.0%), FIDSON (+4.9%) and PORTPAINT (+4.8%), while top losers were DANGCEM (-9.8%), UNHOMES (-9.5%), SKYEBANK (-9.3%), NIGERIAN BREWERIES (-5.5%) and UBN (-4.9%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Sell-off in Consumer Goods Index Dampen Market Sentiment…NSE ASI Down 95bps

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The Nigerian equities market closed negative for the second consecutive trading days of the week, the benchmark index declined further by  0.95% on the back of negative sentiment in NESTLE (-1.2%), MOBIL (-5.0%), NIGERIAN BREWERIES (-5.0%), STANBIC (-1.5%) and GLAXOSMITH (-1.4%) to dampen  market activity for the day, closing the ASI lower at 28,102.14 points. In the same vein, market capitalization lost N92.23 billion to close lower at  N9.66 trillion, while market activity as measured by value and volume closed N1.89 billion and 195.94 million respectively.

At the close of trading, most sector index close negative save for the Banking Sector Index. The Banking Sector index closed lone gainer, consequent on price appreciation in ETI (5.0%) and ACCESS (2.1%). Conversely, the Consumer Goods Index led top losers to depreciate -0.29% on the back of gains in NESTLE (-1.2%) and NIGERIAN BREWERIES (-5.0%). Followed by the Oil and Gas Index on the back of marginal gains in MOBIL  (-5.0%) and OANDO (-0.2%) to shed -0.35%. Consequent on 0.8% and 1.0% price downtrend in WAPCO and CUSTODYNS respectively, the Industrial Goods Index and Insurance Index lost 30bps and 6bps respectively  to join the losers list.

At the close of trading, market breadth as measured by the ratio of advancers to decliners closed weaker to signal decline in investors sentiment at 0.5x as 15 stocks advanced and 28 stocks declined for the day. The top gainers were ETI (+5.0%), FIDELITY (+4.8%), LIVESTOCK (+4.5%), AFRIPUD (+3.2%) and CCNN (+3.1%), while top losers were STANBIC (-9.3%), UNITYBNK (-8.9%), NIGERIAN BREWERIES (-5.0%), MOBIL (-5.0%) and PZ (-5.0%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Reversing Losses…NSE ASI Up 3.79%

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The Nigerian equities market reversed two days of consecutive downtrend, the benchmark index gained 3.79% on the back of positive sentiment in NESTLE (4.3%), DANGCEM (8.6%), NIGERIAN BREWERIES (7.8%), MOBIL (3.3%) and OKOMUOIL (3.9%) to improve  market activity for the day, closing the ASI higher at 27,777.83 points to bring  WtD change to 3.37%  and tempering YtD loss to -19.85%.

At the close of trading, most sector index went northwards to close positive save for the Banking Index. The Banking index closed lone loser to decline -0.09% consequent on price downtrend in ZENITHBNK (-1.1%) and GUARANTY (-0.6%). Conversely, the Consumer Goods index led top gainers as the industry bellwethers appreciated in prices as investors sentiment resuscitate in  NESTLE (4.3%) and NIGERIAN BREWERIES (7.8%)  to close the index at  4.18%. Followed by the Industrial Goods Index on the back of gains in DANGCEM (8.6%) and CCNN (1.5%). The Oil and Gas Index also experienced price uptrend to gain 0.69% consequent on positive sentiment in MOBIL (3.3%) and OANDO (4.8%). Following price appreciation in CUDTODYNS (1.2%) and CONTINSURE (3.9%) , the Insurance index appreciated marginally by 4bps.

At the close of trading, market breadth as measured by the ratio of advancers to decliners closed stronger to signal improvement in investors sentiment at 3.7x as 33 stocks advanced and 9 stocks declined for the day. The top gainers were DANGCEM (+8.6%), NIGERIAN BREWERIES (+7.8%), FBNH (+7.6%), UNITYBNK (+6.9%) and NPFMCRFBK (+5.0%), while top losers were ETRANZACT (-5.0%), NAHCO (-5.0%), TRANSCOHOLT (-4.9%), DIAMONDBNK (-2.1%) and FCMB (-1.8%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Resume Downward Trend…NSE ASI Down 1.54%

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After a day of marginal gains in the market, the Nigerian equities took continue the downward trend to close the week, the benchmark index shed -1.54% on the back of sell-off sentiment in TOTAL (-4.7%), DANGCEM (-3.3%), NB (-2.4%), UACN (-7.0%) and OKOMUOIL (-4.0%) to dampen  market activity for the day closing the ASI lower at 26,537.36 points, bringing WtD change to -2.69%  and tempering YtD loss to -22.43%. In the same vein, market capitalization gained N142.92 billion to close at N9.12 trillion, while market activity as measured by value and volume closed N2.54 billion and 176.04 million respectively.

At the close of trading most of the sector index went southwards to close negative save for the Oil and Gas Index. The Oil and Gas index closed a lone gainer consequent on bullish sentiment in  OANDO (5.0%) to improve the index by 0.13% at the close of trading to build on yesterday’s bullish sentiment in the index. Conversely, the Industrial Goods index declined -1.78% on the back of price depreciation in  DANGCEM (-3.3%) and WAPCO (-0.5%)  to lead the losers list. Followed by the Banking index as price downtrend in GUARANTY (-3.6%) and ACCESS (-1.7%) closed the index lower by -1.08%. The Consumer Goods Index also experienced a price decline to shed -1.21% on the back of losses in NB (-2.4%) and UACN (-7.0%). Following price decline in MANSARD (-0.7%) and CONTINSURE (-0.9%), the Insurance index declined marginally by 2bps.

At the close of trading, market breadth as measured by the ratio of advancers to decliners closed lower and week at 0.7x as 21 stocks advanced and 30 stocks declined for the day. The top gainers were HONYFLOUR (+9.8%), TIGERBRANDS (+7.9%), JBERGER (+5.0%), OANDO (+5.0%) and ETRANZACT (+4.9%), while top losers were UACN (-7.0%), CADBURY (-5.0%), TRANSCOHOT (-5.0%), LEARNAFRCA (-4.9%) and CAPHOTEL (-4.9%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Took Consequent on Marginal Uptick…NSE ASI Up 2bps

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The Nigerian equities took a breather to uptick marginally at the close of trading after three days of consecutive losses in the week, the benchmark index uptick 0.02% on the back of bullish sentiment in FO (5.0%), TOTAL (5.0%), UNILEVER (3.3%), OKOMUOIL (-5.0%) and WAPCO (1.2%) to improve  market activity for the day closing the ASI higher at 26,953.05 points, bringing WtD change to -0.93%  and tempering YtD loss to -22.23%. In the same vein, market capitalization gained N1.59 billion to close at N9.28 trillion, while market activity as measured by value and volume closed N2.62 billion and 172.71 million respectively.

At the close of trading most of the sector index went northwards to close positive save for the Consumer Goods Index. The Consumer sector index closed a lone loser consequent on sell-off in  NB (-1.8%) and UACN (-5.0%) to decline the index by -0.4% at the close of trading to reverse yesterday’s bullish sentiment in the index. Conversely, the Oil and Gas index gained 3.04% on the back of price appreciation in  FO (+5.0%) and TOTAL (+5.0%)  to lead the gainers list. Followed by the Insurance index as price uptrend in CONTINSURE (+6.8%) and CUSTODYNS (+1.0%) closed the index higher by 0.82%. The Industrial index also experience a price appreciation to close higher by 0.26% on the back of gains in WAPCO (+1.2%) and CCNN (+5.0%). Following price appreciation in GUARANTY (+0.9%) and ACCESS (+2.4%), the Banking index uptick marginally by 9bps.

At the close of trading, market breadth as measured by the ratio of advancers to decliners closed positive and stronger at 2.4x as 29 stocks advanced and 12 stocks declined for the day. The top gainers were UNITYBNK (+9.4%), CONTINSURE (+6.8%), CCNN (+5.0%), FO (+5.0%) and TOTAL (+5.0%), while top losers were SKYEBANK (-6.1%), UACN (-5.0%), MOBIL (-5.0%), UBN (-4.8%) and AGLEVENT (-4.4%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Sell- off in Consumer Goods Index extend Market Downtrend..NSE ASI Down 84bps

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The downtrend in the Nigerian equities persist for the second trading day of the week, the benchmark index declined -0.84% on the back of selloff sentiment in NESTLE (-1.3%), GUINNESS (-4.3%), SEPLAT (-1.7%), NIGERIAN BREWERIES (-1.6%) and UACN (-4.5%) to dampen market activity for the day, bringing WtD change to -2.11%  to close the ASI lower at 26,950.76 points, tempering YtD loss to -22.24%. In the same vein, market capitalization lost N78.58 billion to close at N9.27 trillion, while market activity as measured by value and volume closed N3.17 billion and 189.32 million respectively.

At the close of trading most of the sector index went southwards to close negative save for the Insurance Index. The Insurance sector index appreciated to closed 0.35% higher, consequent on gains recorded in CONTINSURE (+4.1%) to lead the gainers list at the close of trading. Conversely, the Consumer Goods index declined -0.95% on the back of sell-off in  NESTLE (-1.3%) and GUINNESS (-4.3%)  to lead the losers list. Followed by the Banking index as price downtrend in STANBIC (-3.8%) and ZENITHBANK (-3.5%) closed the index lower by -0.79%. The Oil and Gas index also experience a price depreciation to close lower by -0.57% on the back of sell-off in SEPLAT (-1.7%) and OANDO (-2.5%). Following the pump and dump activities in DANGCEM (-0.7%) and ASHAKACEM (-2.2%), the Industrial index declined marginally by 35bps.

At the close of trading market breadth as measured by the ratio of advancers to decliners closed weaker at 0.4x as 14 stocks advanced and 39 stocks declined for the day. The top gainers were JBERGER (+5.0%), LEARNAFRCA (+4.9%), UNILEVER (+4.9%), FLOURMILL (+4.9%) and ETI (+4.7%), while top losers were SKYEBANK (-9.5%), TRANSCORP (-5.3%), HONEYFLOUR (-5.0%), ETRANZACT (-5.0%) and NNFM (-4.9%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market rebound Persist..NSE ASI Up 23bps

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The Nigerian equities market continued yesterday’s at the close of trading to close positive for the week, the benchmark index appreciated +0.23% on the back of bullish sentiment in FO (+5.1%), NIGERIAN BREWERIES (+2.3%), FLOURMILL (+5.0%), GUARANTY (+2.2%) and GUINNESS (+0.3%) to improve market activity for the day, bringing WtD change to -1.31%  to close the ASI lower at 27,269.71 points, tempering YtD loss to -21.32%. In the same vein, market capitalization gained N21.92 billion to close at N9.38 trillion, while market activity as measured by value and volume closed N3.07 billion and 141.39 million respectively.

At the close of trading most of the sector index went northwards to close positive save for the Banking and Industrial Goods Index. The banking sector index closed -0.24%, consequent on losses recorded in ZENITH (-3.0%) and ETI (-1.2%) to lead the losers list at the close of trading. Following a 2bps drop in the price of DANGCEM, the Industrial goods index declined marginally by 2bps. Conversely, the Insurance sector index led the gainers list as price uptrend in MANSARD (+5.0%) and CONTINSURE (+4.2%) closed the index higher by 1.8%. The Oil and Gas index also experience an uptrend to close higher by 1.79% on the back of price appreciation in FO (5.1%).  The Consumer Goods index closed positive to appreciate 0.34% on uptrend in  NIGERIAN BREWERIES (2.3%) and FLOURMILLS (5.0%).

At the close of trading market breadth as measured by the ratio of advancers to closed semi-strong at 1.4x as 23 stocks advanced and 16 stocks declined for the day. The top gainers were ZENITHBANK (+8.9%), ETERNA (+8.2%), CADBURY (+5.0%), AFRIPUD (+5.0%) and STANBIC (+4.9%), while top losers were FIDSON (-4.8%), MANSARD (-4.7%), CUTIX (-4.7%), LIVESTOCK (-4.2%) and AIRSERVICE (-2.1%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market takes a breather consequent on gains in Consumer Goods..NSE ASI up by 75bps

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The Nigerian equities market took a breather at the close of trading to reverse two days of consecutive losses, the benchmark index appreciated +0.75% on the back of bullish sentiment in NIGERIAN BREWERIES (+3.8%), GUINNESS (+1.3%), PRESCO (+4.2%), ZENITHBANK (+8.9%) and PZ (+3.6%) to improve market activity for the day, bringing WtD change to -1.28%  to close the ASI lower at 27,205.95 points, tempering YtD loss to -21.50%. In the same vein, market capitalization gained N69.27 billion to close at N9.35 trillion, while market activity as measured by value and volume closed N1.47 billion and 179.06 million respectively.

At the close of trading most of the sector index went northwards to close positive save for the Insurance and Industrial Goods Index. The insurance sector index closed -1.36%, consequent on losses recorded in MANSARD (-4.7%) to lead the losers list at the close of trading. Followed by the Industrial goods index as downtrend persist in DANGCEM (-5.0%) to close the index at -0.69%. Conversely, the banking sector index led the gainers list as price uptrend in ZENITH (+8.9%) and STANBIC (+4.9%) closed the index higher at 2.31%. The Consumer Goods index closed positive to appreciate 1.96% on uptrend in  NIGERIAN BREWERIES (3.8%) and GUINNESS (1.3%).

At the close of trading market breadth as measured by the ratio of advancers to closed stronger at 2.3x as 25 stocks advanced and 11 stocks declined for the day. The top gainers were ZENITHBANK (+8.9%), ETERNA (+8.2%), CADBURY (+5.0%), AFRIPUD (+5.0%) and STANBIC (+4.9%), while top losers were FIDSON (-4.8%), MANSARD (-4.7%), CUTIX (-4.7%), LIVESTOCK (-4.2%) and AIRSERVICE (-2.1%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

JAPAUL OIL & MARITIME SERVICES PLC- APPOINTMENT

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JAPAUL OIL & MARITIME SERVICES PLC

Appointment of Acting Deputy Managing Director

Japaul Oil & Maritime Services Plc (“Japaul” or “the Company”) has notified The Nigerian Stock Exchange of the appointment of Mr. Kayode Tolulope Oluwasegun-Ojo as an Executive Director to function as the Deputy Group Managing Director effective 23 November 2015.

Mr. Oluwasegun-Ojo is a known Change Management Expert whose experience to date covers Audit, Assurance, Banking, and Aviation industries.

He was appointed to the Board of Nigerian Aviation Handling Company Plc (NAHCO) in December 2009 and resumed as Executive Director, Finance and Strategic Planning in February 2010. In November, 2010, he was appointed Acting Managing Director and confirmed as the substantive Managing Director in June 2011, a position he held until October 2014 when he resigned to pursue his passion for organizational and people development through executive coaching, mentoring and public speaking.

As Managing Director of NAHCO he led the change and business diversification strategy of the company, transforming it to an internationally recognized aviation services company, as it became the first Ground Handling Company in West Africa to attain the prestigious ISAGO status conferred by International Air Transport Association (IATA).

He was part of the management team that repositioned MBC International Bank. While at the bank, he rose to the position of the Company Treasurer.

Mr. Oluwasegun-Ojo is an alumnus of Obafemi Awolowo University having studied B.Sc Economics and graduated in 1985. He qualified as a chartered accountant in 1993 and was admitted as a member of the Institute of Chartered Accountants of Nigeria, while he became a fellow of the institute in 2012.

 

Downhill Persist, How Much Deeper?…NSE ASI down 6bps

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The Nigerian equities market continued the bearish run as market losses persist for the fourth consecutive trading day of the week. The benchmark index depreciated -0.06% on the back of selloff in CAP (-4.9%), 7UP (-0.2%), NB (-0.5%), OANDO (-5.0%) and IKEJAHOTEL (-4.7%) to decline market activity for the day, bringing WtD change to -2.07%  to close the ASI lower at 28,203.20 points far below the psychological line, tempering YtD loss to -18.62%. In the same vein, market capitalization declined N5.58 billion to close at N9.67 trillion, while market activity as measured by value and volume closed N1.05 billion and 174.96 million respectively.

At the close of trading, all sector index closed in the red zone. The Oil and Gas Index led top losers to on the back of pump and dump in OANDO (-5.0%) to close the index negative by -0.61%. Followed by the Industrial index as sell-off in CAP (-4.9%) dampen the index to decline 0.14%. The bargain hunting in the Insurance Index took a breather to reverse yesterday gains as profit taking resume in AIICO (-1.1%) to close the index negative by -0.07%. In the same vein, he Banking Index closed negative as negative investors sentiment persist in GUARANTY (-0.4%), FCMB (-3.1%) and DIAMOND  (-1.9%) to decline the index performance by -0.06%. The consumer goods closed negative for the fifth consecutive trading day consequent on loses in the industry bellwethers; NB (-0.5%), DANGFLOUR (-4.9%) and DANGSUGAR (-1.6%) to close the index negative by 1bps. The Pension index, also  joined the losers list as price depreciation in high capitalized  and liquid stocks which are constituents of the index led the index to close negative by -0.18% at the close of trade.

At the close of trading market sentiment improved relative to the previous close, the market breadth as measured by the ratio of advancers to decliners closed stronger by 1.1x as 17 stocks advanced and 15 stocks declined for the day. The top gainers were PZ (+5.0%), CADBURY (+5.0%), PORTPAINT (+4.9%), ETRANZACT (+4.7%) and AIRSERVICE (+3.8%), while top losers were OANDO (-5.0%), CAP (-4.9%), DANGFLOUR (-4.9%), IKEJAHOTEL (-4.7%) and PAINTCOM (-4.4%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Sell-off Pressure Persist…NSE ASI down 47bps

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The Nigerian equities market continue the bearish run for the third consecutive trading session of the week. The benchmark index depreciated -1.07% at the close of trade on the back of selloff in FO (-5.0%), NB (-1.5%), OKOMUOIL (-4.9%), 7UP (-0.5%) and STANBIC (-4.9%) to decline market activity for the day, bringing WtD change to -2.74%  to close the ASI lower at 28,219.44 points far below the psychological line, tempering YtD loss to -18.58%. In the same vein, market capitalization declined N45.32 billion to close at N9.70 trillion, while market activity as measured by value and volume closed N1.45 billion and 143.70 million respectively.

At the close of trading most of the sector index went northwards to close positive save for the Oil and Gas and Consumer Goods Index. The Oil and Gas Index closed negative at the close of trading to lead the losers list as pump and dump persist in FO (-5.0%) and OANDO (-1.8%) to depreciate the index further by -2.51%. Followed by the consumer goods index,  which declined for the fourth consecutive trading day consequent on loses in the industry bellwethers; NB (-1.5%), 7UP (-0.5%) and DANGSUGAR (-3.1%) to close the index negative by -0.74%. On the flip side, the Banking Index closed positive to reverse previous loss as investors sentiment resume in ZENITHBANK (+1.5%), UBN (+2.7%), ETI (+0.7%), DIAMONDBNK (+3.6%), SKYEBENK (+0.6%) and UBA (+0.3%) to decline the index performance by +0.34% to lead top gainers at the close of trading. Followed by the Insurance Index, which closed positive as investors optimism persist in NEM (+3.0%) and AIICO (+1.1%) to close the index positive by +0.18%. In the same vein, the Industrial index closed positive as price appreciation in ASHAKACEM (+1.8%) moderated the index by  +0.02%. The Pension index, also  joined the losers list as price depreciation in high capitalized  and liquid stocks which are constituents of the index led the index to close negative by -0.46% at the close of trade.

At the close of trading market sentiment improved relative to the previous close, the market breadth as measured by the ratio of advancers to decliners closed wicker at 0.6x as 15 stocks advanced and 25 stocks declined for the day. The top gainers were BERGER (+4.9%), CAVERTON (+4.6%), DIAMONDBNK (+3.6%), CUTIX (+3.5%) and NEM (+3.0%), while top losers were DANGFLOUR (-5.5%), TRANSCORP (-5.3%), FO (-5.0%), REDSTAREX (-4.9%) and OKOMUOIL (-4.9%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Graveyard Sentiment Persist …NSE ASI down 64bps

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The Nigerian equities market continued the bearish run as the market losses persist for the second consecutive trading day of the week. The benchmark index depreciated -0.64% on the back of selloff in GUINNESS (-5.0%), SEPLAT (-1.7%), NB (-2.0%), PZ (-3.6%) and UAC-PROP (-9.6%) to decline market activity for the day, bringing WtD change to -2.17%  to close the ASI lower at 28,351.28 points far below the psychological line, tempering YtD loss to -18.20%. In the same vein, market capitalization declined N62.41 billion to close at N9.75 trillion, while market activity as measured by value and volume closed N2.51 billion and 129.99 million respectively.

At the close of trading, all sector index went southwards to close negative. The consumer goods index, led top losers to closed negative for the third consecutive trading day consequent on loses in the industry bellwethers; GUINNESS (-5.0%), NB (-2.0%) and PZ (-3.9%) to close the index negative by -0.9%. Followed by the Oil and Gas Index on the back of pump and dump in SEPLAT (-1.7%) to close the index negative by -1.26%. The bargain hunting in the Insurance Index took a breather to reverse previous gains as profit taking resume in CONTINSURE (-4.8%) and NEM (-1.5%) to close the index negative by -0.51%. The Banking Index closed negative as negative investors sentiment persist in STANBIC (-2.4%), FBNH (-7.5%) and  GUARANTY (-0.7%) to decline the index performance by -0.18%. In the same vein, the Industrial index decline 1bps. The Pension index, also  joined the losers list as price appreciation in high capitalized  and liquid stocks which are constituents of the index led the index to close positive by -1.26% at the close of trade.

At the close of trading market sentiment improved relative to the previous close, the market breadth as measured by the ratio of advancers to decliners closed wicker at 0.5x as 14 stocks advanced and 24 stocks declined for the day. The top gainers were LIVESTOCK (+5.0%), PORTPAINT (+4.8%), TRANSCORP (+4.4%), ABCTRANS (+4.0%) and ACADEMY (+3.5%), while top losers were UAC-PROP (-9.6%), DANGFLOUR (-9.5%), FBNH (-7.5%), BERGER (-5.0%) and GUINNESS (-5.0%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Banking Index Sell-off Dampen Market Sentiments …NSE ASI down 1.07%

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The Nigerian equities market resumed bearish as the market closed with losses to start the week negative. The benchmark index depreciated -1.07% on the back of selloff in NB (-2.1%), STANBIC (-5.0%), DANGCEM (-0.6%), GUARANTY (-3.7%) and ZENITHBANK (-4.8%) to decline market activity for the day, bringing WtD change to -2.18%  to close the ASI lower at 28,532.81 points far below the psychological line, tempering YtD loss to -17.67%. In the same vein, market capitalization declined N106.17 billion to close at N9.81 trillion, while market activity as measured by value and volume closed N1.09 billion and 202.18 million respectively.

At the close of trading, most of the sector index went southwards to close negative save for the Oil and Gas and Insurance Index. The Oil and Gas Index closed positive at the close of trading to lead the gainers list at the close of trade as bargain hunting persist in SEPLAT (+1.3%) to moderate the index at the close of trade by +0.21%. Followed by the Insurance Index, which closed positive as investors optimism persist in CONTINSURE (+2.9%) to close the index positive by +0.19%. On the flip side, the Banking Index closed negative as negative investors sentiment persist in STANBIC (-5.0%), GUARANTY (-3.7%), ZENITHBANK (-4.8%), ETI (-3.4%), UBA (-3.7%) and ACCESS (-1.5%) to decline the index performance by -3.39% to lead top traders at the close of trading. Followed by the consumer goods index,  which declined for the second consecutive trading day consequent on loses in the industry bellwethers; NB (-2.1%), FLOURMILL (-3.1%) and DANGFLOUR (-4.7%) to close the index negative by -0.9%. In the same vein, the Industrial index closed negative as price depreciation in DANGCEM (-0.6%) decline the index further to close lower by  -0.29%. The Pension index, also  joined the gainers list as price appreciation in high capitalized  and liquid stocks which are constituents of the index led the index to close positive by -1.13% at the close of trade.

At the close of trading market declined relative to the previous close, the market breadth as measured by the ratio of advancers to decliners closed wicker at 0.4x as 10 stocks advanced and 25 stocks declined for the day. The top gainers were FBNH (+8.4%), NPFMCRFBK (+4.1%), UNITYBNK (+3.5%), CONTINSURE (+2.9%) and VONO (+2.3%), while top losers were STANBIC (-5.0%), ETRANZACT (-4.9%), ZENITHBANK (-4.8%), CAVERTON (-4.8%) and DANGFLOUR (-4.7%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Loss Muted…NSE ASI Up 15bps

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After five days of mixed reaction, the Nigerian equities market closed the week in the green region as the benchmark index appreciated +0.15% on the back of bargain hunting in FO (+0.7%), SEPLAT (+0.9%), INTBREW (+10.0%), PZ (+4.0%) and ETI (+3.4%) improved market activity for the day, bringing WtD change to -1.14%  to close the ASI higher at 28,841.67 points still far below the psychological line, tempering YtD loss to -16.78%. In the same vein, market capitalization gained N14.78 billion to close at N9.91 trillion, while market activity as measured by value and volume closed N4.15 billion and 236.87 million respectively.

At the close of trading, most of the sector index went northwards to close positive save for the Industrial and Consumer Goods Index. The consumer goods index declined further at the close of trading to lead top losers consequent on loses in the industry bellwethers; GUINNESS (-1.7%), UACN (-2.9%) and NB (-0.9%) to close the index negative by -0.08%. Followed by the Industrial Goods Index, the sell-off in the index persist for the third consecutive trading day, the index closed negative as profit taking resume  in DANGCEM (-0.1%) to moderate the index at the close of trade by -0.02%. On the flip side, the Banking Index closed positive as bargain hunting resume in ETI (+3.4%), GUARANTY (+0.4%) and UBA (+2.4%)  to improve the index performance by +0.77%. Followed by the Oil and Gas Index, as price appreciation in FO (+0.7%). SEPLAT (+0.9%) and OANDO (+0.1%) closed the index positive to moderate the index at the close of trade by +0.54%. In the same vein, the Insurance Index closed positive as investors optimism improved in CUSTODYNS (+1.2%), AIICO (+1.1%) and CONTINSURE (+2.0%) to appreciate the index by +0.17%. The Pension index, also  joined the gainers list as price appreciation in high capitalized  and liquid stocks which are constituents of the index led the index to closed positive by +0.46% at the close of trade.

At the close of trading market sentiment improved, the market breadth as measured by the ratio of advancers to decliners closed stronger at 1.3x as 22 stocks advanced and 17 stocks declined for the day. The top gainers were CAP (+5.0%), UAC-PROP (+5.0%), DANGFLOUR (+4.6%), IKEJAHOTEL (+4.5%) and STANBIC (+4.5%), while top losers were FIDSON (-4.9%), ETRANZACT (-4.8%), MAYBAKER (-4.8%), DIAMONDBNK (-4.7%) and UNITYBNK (-4.6%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Consumer Goods’ Sell-off Dampen Market Sentiments…NSE ASI Down 74bps

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The Nigerian equities market continued the bearish run after taking a breather yesterday as sell off persist in the consumer goods index. The benchmark index depreciated -0.74% on the back of sell-off in NESTLE (-0.9%), 7UP (-2.4%), WAPCO (-4.0%), NB (-2.3%) and DANGSUGAR (-3.2%) to decline market activity for the day, bringing WtD change to -0.80%  to close the ASI lower at 28,798.67 points far below the psychological line, tempering YtD loss to -16.90%. In the same vein, market capitalization declined N74.29 billion to close at N9.90 trillion, while market activity as measured by value and volume closed N1.30 billion and 167.29 million respectively.

At the close of trading, most of the sector index went southwards to close negative save for the Oil and Gas Index. The Oil and Gas Index closed positive at the close of trading to lead the gainers list at the close of trade as bargain hunting resume in OANDO (-0.5%) to moderate the index at the close of trade by 6bps. On the flip side, the consumer goods index declined further at the close of trading consequent on loses in the industry bellwethers; NESTLE (-0.9%), 7UP (-2.4%), NB (-2.3%) and DANGSUGAR (-3.2%) to close the index negative by -1.71%. Followed by the Industrial Goods Index, the sell-off in the index persist for the second consecutive trading day, the index closed negative as profit taking persist  in WAPCO (-4.0%) to moderate the index at the close of trade by +1.59%. In the same vein, the Banking Index closed negative as sell off persist in ETI (-3.3%), DIAMONDBNK (-4.7%) and ZENITHBANK (-0.6%) to decline the index performance by -1.02%. Also, the Insurance Index closed negative as investors optimism in MANSARD (-1.8%), AIICO (-1.1%) and CONTINSURE (-1.0%) to close the index negative by +0.7%. The Pension index, also  joined the losers list as price depreciation in high capitalized  and liquid stocks which are constituents of the index led the index to closed negative by -0.78% at the close of trade.

At the close of trading market sentiment remained steady, the market breadth as measured by the ratio of advancers to decliners closed weaker at 0.5x as 12 stocks advanced and 26 stocks declined for the day. The top gainers were CAP (+5.0%), UAC-PROP (+5.0%), DANGFLOUR (+4.6%), IKEJAHOTEL (+4.5%) and STANBIC (+4.5%), while top losers were FIDSON (-4.9%), ETRANZACT (-4.8%), MAYBAKER (-4.8%), DIAMONDBNK (-4.7%) and UNITYBNK (-4.6%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Takes a Breather…NSE ASI Up 12bps

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After two days of consecutive sell off, the Nigerian equities market took a breather to close the day positive as the bearish run muted, the benchmark index appreciated by 0.12% on the back of renewed optimism in FO (+2.1%), NB (+2.7%), FLOURMILL (+4.6%), ZENITH (+1.2%) and ACCESS (+4.0%) to moderate market activity for the day, bringing WtD change to -0.06%  to close the day higher at 29,014.78 points still far below the psychological level, tempering YtD loss to -16.28%. In the same vein, market capitalization gained N11.57 billion to close at N9.97 trillion, while market activity as measured by value and volume closed at N1.45 billion and 217.31 million respectively.

The  Insurance Index appreciated for the third consecutive day of the week as the bull run persist in MANSARD (+5.0%) to close the index by +0.85%. Followed by the Consumer Goods Index which appreciate after two days of consecutive loss, as bargain hunting resurface in industry bellwethers; NB (+2.7%), FLOURMILL (+4.6%) and DANGFLOUR (-4.8%) to close the index by +0.70% bringing WtD loss to -0.38%.  The Banking sector index closed positive at the close of trading, as profit bargain hunting resume in ZENITHBANK (+1.2%), ACCESS (+4.0%) and GUARANTY (+0.5%) to close appreciate the index by +0.55. On the flipside, the Oil & Gas Index closed negative, depreciating 0.28% as negative investors sentiment in OANDO (-9.7%) declined the index at the close of trade, to lead top gainers for the day. Followed by Industrial Index as sell off persist in CCNN (-8.3%) and AHAKACEM (-2.2%) to decline the index by -0.09%.

At the close of trading market sentiment declined to close lower relative to the previous close, the market breadth as measured by the ratio of advancers to decliners closed weaker at 0.5x as 12 stocks advanced and 25 stocks declined for the day. The top gainers were MANSARD (+5.0%), DANGFLOUR (+4.8%), FLOURMILL (+4.6%), ETERNA (+4.5%) and ACCESS (+4.0%), while top losers were OANDO (-9.7%), TRANSCORP (-8.9%), CCNN (-8.3%), CADBURY (5.0%) and AGLEVENT (-4.9%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Extend Losses…NSE ASI Down 64bps

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The Nigerian equities market continued the bearish run as the market losses persist for the second consecutive trading day of the week. The benchmark index depreciated -0.64% on the back of selloff in FO (-2.8%), NB (-4.1%), GUINNESS (-3.7%), SEPLAT (-2.2%) and FLOURMILL (-4.1%) to decline market activity for the day, bringing WtD change to -0.25%  to close the ASI lower at 28,981.12 points far below the psychological line, tempering YtD loss to -16.38%. In the same vein, market capitalization declined N7.02 billion to close at N64.25 trillion, while market activity as measured by value and volume closed N1.80 billion and 317.25 million respectively.

At the close of trading, performance across sectors was mixed as most of the sector index went southwards to close negative save for the Insurance and Industrial Goods Index. The Industrial Goods Index closed positive at the close of trading to lead the gainers list as bargain hunting resurface in DANGCEM (+0.62%) to moderate the index at the close of trade by +0.38%. Followed by the Insurance Index, which closed positive as investors optimism persist for the second consecutive day in AIICO (+1.11%) and NEM (+1.45%) to close the index positive by +0.13%. On the flip side, the Oil and Gas Index receded from yesterdays price appreciation to close the day negative to lead the losers list as profit taking persist in FO (-2.8%), SEPLAT (-2.2%) and OANDO (-0.2%) to decline the index at the close of trade by +1.83%. Followed by the consumer goods index, the index declined further at the close of trading consequent on loses in the industry bellwethers; NB (-4.1%), GUINNESS (-3.7%) and FLOURMILL (-4.1%) to close the index negative by -1.36%. In the same vein, the Banking Index closed negative as sell off persist in STANBIC (-4.2%), ZENITHBANK (-4.0%) and ETI (-0.8%) to decline the index performance by -1.15%. The Pension index, also  joined the losers list as price depreciation in high capitalized  and liquid stocks which are constituents of the index led the index to closed negative by -0.89% at the close of trade.

At the close of trading market sentiment declined to close lower relative to the previous close, the market breadth as measured by the ratio of advancers to decliners closed weaker at 0.7x as 18 stocks advanced and 25 stocks declined for the day. The top gainers were UNILEVER (+10.2%), SKYEBANK (+4.7%), ETERNA (+4.7%), HONYFLOUR (+4.6%) and WEMABANK (+4.2%), while top losers were CAVERTON (-4.9%), NEIMETH (-4.9%), NAHCO (-4.8%), DIAMONDBNK (-4.5%) and LEARNAFRCA (-4.4%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Loss Moderated…NSE ASI down 3bps

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The Nigerian equities market resumed the bearish as the market closed with losses to start the week negative. The benchmark index depreciated -0.03% on the back of selloff in 7UP (-3.12%), NB (-0.75%), DANGCEM (-0.61%), ETI (-1.89%) and WAPCO (-0.27%) to decline market activity for the day, bringing WtD change to +0.11%  to close the ASI lower at 29,168.04 points far below the psychological line, tempering YtD loss to -15.84%. In the same vein, market capitalization declined N2.51 billion to close at N10.03 trillion, while market activity as measured by value and volume closed N14.62 billion and 1.01 billion respectively.

At the close of trading, performance across sectors was mixed as most of the sector index went southwards to close negative save for the Insurance and Oil and Gas Index. The Oil and Gas Index closed positive at the close of trading to lead the gainers list at the close of trade as bargain hunting persist in OANDO (+10.1%) to moderate the index at the close of trade by +1.29%. Followed by the Insurance Index, which closed positive as investors optimism persist in NEM (+4.55%), MANSARD (+0.77%) and CONTINSURE (+0.95%) to close the index positive by +0.48%. On the flip side, the Industrial index closed negative as price depreciation in DANGCEM (-0.61%) and WAPCO (+0.27%) decline the index further to close lower by  -0.32%. Followed by the Banking Index which closed negative as negative investors sentiment persist in ETI (-1.89%), GUARANTY (-0.34%) and SKYEBANK (-2.06%) to decline the index performance by 0.1%. In the same vein, the consumer goods index declined at the close of trading consequent on loses in the industry bellwethers; 7UP (-3.12%) and NB (-0.75%) to close the index negative by -0.04%. The Pension index, also  joined the gainers list as price appreciation in high capitalized  and liquid stocks which are constituents of the index led the index to closed positive by -0.7% at the close of trade.

At the close of trading market sentiment improved to close relative to the previous close, the market breadth as measured by the ratio of advancers to decliners closed stronger at 1.7x as 25 stocks advanced and 15 stocks declined for the day. The top gainers were OANDO (+10.1%), CCNN (+10.1%), FIDSON (+10.0%), DIAMONDBNK (+9.5%) and MAYBAKER (+5.0%), while top losers were CAVERTON (-4.7%), WEMABANK (-4.0%), EVANSMED (-3.7%), 7UP (-3.1%) and 7UP (-3.1%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Graveyard Market Persist…NSE ASI down 7bps

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The Nigerian equities market continued the bearish run as the market losses persist for the third consecutive trading day of the week. The benchmark index depreciated -0.07% on the back of selloff in MOBIL (-9.8%), NESTLE (-0.9%), 7UP (-2.6%), UNILEVER (-5.0%) and INTBREW (-4.7%) to decline market activity for the day, bringing WtD change to -1.24%  to close the ASI lower at 29,032.44 points far below the psychological line, tempering YtD loss to -16.23%. In the same vein, market capitalization declined N7.02 billion to close at N9.97 trillion, while market activity as measured by value and volume closed N2.06 billion and 181.60 million respectively.

At the close of trading, performance across sectors was mixed as most of the sector index went southwards to close negative save for the Oil and Gas Index appreciated by +0.03% at the close of trade consequent on bargain hunting in OANDO (+7.2%), to mute losses in the index at the close of trading. On the flip side, the Consumer Goods Index closed negative to lead the losers list for the day as sell off persist in the industry bellwethers; UNILEVER (-5.0%), CHAMPION (-4.8%) and INTBREW (-4.7%) to depreciate the index further by -0.64%. Followed by the Insurance index on the back of negative investors sentiments in AIICO (-3.3%) to depreciated the index by -0.11%. The Banking Index closed negative consequent on price depreciation in DIAMONDBNK (-4.7%), UNITYBNK (-3.2%) and ACCESS (-3.0%) to decline the index at the close of trading by -0.03%. The Industrial Goods Index also closed negative as sell off resuscitate in AFRPAINTS (-4.8%) to depreciate the index at the close of trade by -0.11%. In the same vein, the Pension index, also  joined the losers list as price depreciation in high capitalized  and liquid stocks which are constituents of the index led the index to close positive by -0.05% at the close of trade.

The market sentiment at the close of trading remained weak, the market breadth as measured by the ratio of advancers to decliners improved to closed at 0.7x as 18 stocks advanced and 27 stocks declined for the day. The top gainers were OANDO (+7.2%), GUINNESS (+5.0%), STANBIC (+5.0%) UACN (+5.0%) and AGLEVENT (+4.9%), while top losers were MOBIL (-9.8%), FIDSON (-9.7%), UAC-PROP (-5.0%), CUTIX (-5.0%) and UNILEVER (-5.0%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Graveyard Market Persist…NSE ASI down 29bps

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The Nigerian equities market continued the bearish run as the market losses persist for the second consecutive trading of the week. The benchmark index depreciated -0.29% on the back of selloff in TOTAL (-4.7%), UNILEVER (-5.0%), GLAXOSMITH (-3.0%), CADBURY (-4.7%) and ASHAKACEM (-3.9%) to decline market activity for the day, bringing WtD change to -1.76%  to close the ASI lower at 29,052.87 points far below the psychological line, tempering YtD loss to -16.17%. In the same vein, market capitalization declined N28.86 billion to close at N9.98 trillion, while market activity as measured by value and volume closed N1.12 billion and 166.75 million respectively.

At the close of trading, performance across sectors was mixed as most of the sector index went southwards to close negative save for the Oil and Gas Index and the Industrial Index. The Oil and Gas index closed positive +0.54% at the close of trade consequent on price appreciation in OANDO (+8.7%), after a long period of sell off in the stock to mute losses in the index at the close of trading. Followed by the Industrial Goods Index as bargain hunting resuscitate in DANGCEM (+0.6%) and PORTPAINT (+4.7%) to improve the index at the close of trade by +0.29%. On the flip side, the Banking Index which closed negative to lead the losers list for the day consequent on price depreciation in ETI (+3.7%), GUARANTY (+2.3%) and ZENITHBANK (+1.1%) to decline the index at the close of trading by -1.76%. Followed by the Insurance index on the back of negative investors sentiments in CUSTODYNS (-2.4%) and CONTINSURE (-3.0%) to depreciated the index by -0.25%. The consumer goods index also closed negative as sell off persist in the industry bellwethers; UNILEVER (-5.0%), GLAXOSMITH (-3.0%) and PZ (-3.0%) to depreciate the index further by -0.24%. In the same vein, the Pension index, also  joined the losers list as price depreciation in high capitalized  and liquid stocks which are constituents of the index led the index to close positive by -0.69% at the close of trade.

The market sentiment at the close of trading remained weak, the market breadth as measured by the ratio of advancers to decliners closed 0.5x as 14 stocks advanced and 28 stocks declined for the day. The top gainers were LEARNAFRCA (+9.2%), OANDO (+8.7%), GUINNESS (+5.0%), NAHCO (+4.9%) and PORTPAINT (+4.8%), while top losers were IKEJAHOTEL (-5.0%), UNILEVER (-5.0%), CADBURY (-5.0%), BERGER (-5.0%) and DANGSUGAR (-4.9%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Extend Losses…NSE ASI down 14bps

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The Nigerian equities market continued the bearish run as the market extend losses to start the week negative. The benchmark index depreciated -0.14% on the back of selloff in NESTLE (-0.49%), UNILEVER (-5.0%), UACN (-5.0%), GUINNESS (-1.0%) and DANGCEM (-0.6%) to decline market activity for the day, bringing WtD change to -2.34%  to close the ASI lower at 29,136.85 points far below the psychological line, tempering YtD loss to -15.93%.

At the close of trading, performance across sectors was mixed as most of the sector index went southwards to close negative save for the Banking Index which closed positive to lead the gainers list for the day consequent on price appreciation in GUARANTY (+2.2%), ZENITHBANK (+1.7%) and ETI (+1.6%) to improve the index at the close of trading to 3.03%. On the flip side, the Industrial index close negative as price depreciation in DANGCEM (-0.6%) decline the index further to close lower by  -6.5%. Followed by the consumer goods index consequent on loses in the industry bellwethers; NESTLE (-0.49%), UNILEVER (-5.0%) and UACN (-5.0%) to close the index negative at -2.8%. The Insurance index also closed bearish as negative investors sentiment in MANSARD (-4.5%) and NEM (-1.4%) depreciated the index to close at -1.478%. In the same vein,  the Oil and Gas Index joined the losers list as price depreciation in OANDO (-0.33%) consequent on the negative result from the company to close the index negative at -0.12%. The Pension index, also  joined the gainers list as price appreciation in high capitalized  and liquid stocks which are constituents of the index led the index to closed positive by -0.13% at the close of trade.

The bearish run at the close of trading led to a decline in market sentiment to close lower relative to the previous trading day, the market breadth as measured by the ratio of advancers to decliners closed weaker at 0.4x as 11 stocks advanced and 27 stocks declined for the day. The top gainers were AIICO (+0.9%), FLOURMILL (+4.2%), PZ (+4.1%), BERGER (+3.4%) and AIRSERVICE (+3.3%), while top losers were TRANSEXPR (-7.9%), LIVESTOCK (-5.0%), UNILEVER (-5.0%), UACN (-5.0%) and UBN (-4.8%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Extend Losses for 6th Consecutive Trading Session Day…NSE ASI down 60bps

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The Nigerian equities market continued the bearish run for the sixth consecutive trading session as the market extended losses to decline the All Share Index by -0.60% at the close of today’s trading day on the back of selloff in GUINNESS (-5.0%), WAPCO (-2.2%), STANBIC (-7.5%), OANDO (-9.6%) and INTBREW (-3.1%) to decline market activity for the day, bringing WtD change to -2.66% closing the Benchmark index lower at 29,828.95 points far below the psychological line, tempering YtD loss to -15.18%. In the same vein, market capitalization declined N60.69 billion to close at N10.10 trillion, while market activity as measured by value and volume closed N1.91 billion and 386.28 million respectively.

At the close of trading, performance across sectors was mixed as most of the sector index went southwards to close negative save for the Insurance Index which closed positive for the second consecutive day at +0.11%, leading the gainers list for the day consequent on price appreciation in NEM (+2.9%) to mute the index at the close of trading. On the flip side, The Pension index, also  joined the losers list as price depreciation in high capitalized  and liquid stocks which are constituents of the index led the index to closed negative by -2.05% at the close of trade. Followed by the Banking Index which closed negative as negative investors sentiment led to further sell down in STANBIC (-7.5%), FBNH (-4.9%), ZENITHBANK (-1.42%), DIAMONDBNK (-5.0%) and ACCESS (-2.4%) to depreciate the index by -1.13% at the close of trade. The Oil and Gas Index followed the same tone, to decline for the third consecutive day as price depreciation in OANDO (-9.6%) consequent on the negative result from the company to close the index negative at -1.04%. The Industrial Goods Index muted two days of consecutive gains as the index closed negative at the close of trade on the back of price depreciation in WAPCO (-2.2%), BERGER (-1.9%) to shed -0.55%. In the same vein, the consumer goods index continued losses for the fifth consecutive trading day consequent on loses in the industry bellwethers; GUINNESS (-5.0%), PZ (-1.16%) and DANGSUGAR (-0.9%) to close the index negative at -0.44%.

The bearish run at the close of trading led to a decline in market sentiment to close lower relative to the previous trading day, the market breadth as measured by the ratio of advancers to decliners closed weaker at 0.3x as 11 stocks advanced and 33 stocks declined for the day. The top gainers were ASHAKACEM (+4.1%), LIVESTOCK (+3.9%), FIDSON (+3.3%), NEM (+2.9%) and SEPLAT (+1.3%), while top losers were OANDO (-9.6%), STANBIC (-7.5%), TRANSEPR (-7.4%), WEMABANK (-5.8%) and GUINNESS (-5.0%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Extend Losses…NSE ASI down 61bps

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The Nigerian equities market continued the bearish run for the fourth consecutive trading day, as the market extend losses to start the week negative. The benchmark index depreciated -0.61% on the back of selloff in OKOMUOIL (-8.4%), NB (-1.5%), GLAXOSMITH (-5.0%), STANBIC (-5.0%) and OANDO (-9.6%) to decline market activity for the day, bringing WtD change to -1.29%  to close the ASI lower at 29,828.95 points, tempering YtD loss to -13.93%. In the same vein, market capitalization declined N62.87 billion to close at N10.25 trillion, while market activity as measured by value and volume closed N5.24 billion and 366.91 million respectively.

At the close of trading, performance across sectors was mixed as most of the sector index went southwards to close negative save for the Industrial Index which closed positive to reverse the four days of consecutive loss, leading the gainers list for the day on price appreciation in WAPCO (-0.5%) to mute the index at the close of trading. On the flip side, the Oil and Gas receded from six days of consecutive gains to lead top losers for the second trading day as price depreciation in OANDO (-9.6%) consequent on the negative result from the company to close the index negative at -1.47%. The Pension index, also  joined the losers list as price depreciation in high capitalized  and liquid stocks which are constituents of the index led the index to closed negative by -1.15% at the close of trade. Followed by the Insurance as a renewed negative investors sentiment in MANSARD (-4.5%) and NEM (-4.1%) depreciated the index to close at -1.03%. In the same vein, the consumer goods index continued losses for the third consecutive trading day consequent on loses in the industry bellwethers; NB (-1.5%), CHAMPION (-5.0%) and HONYFLOUR (-2.9%) to close the index negative at -0.64%. The Banking Index closed negative consequent on a price decline in GUARANTY (-1.2%), STANBIC (-5.0%)  and FBNH (-3.1%) to depreciate -0.22% at the close of trade.

The bearish run at the close of trading led to a decline in market sentiment to close lower relative to the previous trading day, the market breadth as measured by the ratio of advancers to decliners closed weaker at 0.4x as 10 stocks advanced and 28 stocks declined for the day. The top gainers were WEMABANK (+5.3%), CONTINSURE (+4.2%), AFRIPUD (+1.9%), DANGSUGAR (+1.6%) and BERGER (+1.6%), while top losers were OANDO (-9.6%), OKOMUOIL (-8.4%), PAINTCOM (-5.0%), CHAMPION (-5.0%) and STANBIC (-5.0%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

The Bearish Run Persist…NSE ASI down 5bps

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The Nigerian equities market continued the bearish run for the third consecutive day to close the day negative. The benchmark index depreciated -0.05% on the back of selloff in OKOMUOIL (-5.0%), PZ (-4.2%), WAPCO (-1.0%), CADBURY (-4.3%) and BERGER (-5.0%) to decline market activity for the day, bringing WtD change to +0.60%  to close ASI lower at 30,011.89 points, tempering YtD loss to -13.40%. In the same vein, market capitalization declined N4.72 billion to close at N10.31 trillion, while market activity as measured by value and volume closed -39.46% to close N1.70 billion and 49.79% to close 151.17 million respectively.

At the close of trading performance across sectors was mixed as most of the sector index went southwards, closing negative save for the Insurance Index and Banking Index which closed positive to reverse the two days consecutive loss in the index, leading the gainers list for the consequent on price appreciation in GUARANTY (+2.1%), FBNH (+2.1%)  and FCMB (+4.3%), as positive 9M’15 results from the industry are redirecting investor sentiment in the industry, to appreciate +0.65% at the close of trade. Followed by the Insurance as a renewed investors sentiment in MANSARD (+3.9%) and NEM (+2.8%) appreciated the index to reverse from four consecutive days of losses to close at +0.25%. On the flip side, the Oil and Gas receded from six days of consecutive gains to lead top losers for the day as price depreciation in OANDO (-4.2%) consequent on the negative first quarter 2015 result from the company to close the index negative at -0.7%. Followed by the Industrial Goods Index, which continued losses for the fourth consecutive day as the index closed negative on the back of price depreciation in WAPCO (-1.0%) to shed -0.43%. in the same vein, the consumer goods index continued yesterday’s losses consequent on loses in the industry bellwethers; PZ (-4.2%), CADBURY (-4.3%) and 7UP (-0.3%) to close the index negative at -0.20%. The Pension index, which  joined the losers list as price depreciation in high capitalized  and liquid stocks which are constituents of the index led the index to closed negative by -0.07% at the close of trade.

The bullish run at the close of trading improved market sentiment to close at the higher relative to the previous trading day, the market breadth as measured by the ratio of advancers to decliners uptick to close stronger at 0.8x as 18 stocks advanced and 22 stocks declined for the day. The top gainers were TRANSEXPR (+9.5%), GLAXOSMITH (+5.5%), PZ (+4.9%), LIVESTOCK (+4.9%) and STERLNBANK (+4.7%), while top losers were VITAFOAM (-5.0%), ETERNA (-5.0%), MANSARD (-4.9%), CUTIX (-4.8%) and UNILEVER (-4.6%).

The bearish run at the close of trading led to a decline in market sentiment to close lower relative to the previous trading day, the market breadth as measured by the ratio of advancers to decliners closed weak at 0.6x as 17 stocks advanced and 26 stocks declined for the day. The top gainers were UAC-PROP (+4.9%), FCMB (+4.3%), MAYBAKER (+4.3%), UNITYBNK (+4.1%) and MANSARD (+3.9%), while top losers were CONTINSURE (-5.0%), OKOMUOIL (-5.0%), NNFM (-5.0%), BERGER (-5.0%) and LEARNAFRCA (-4.7%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

The Bearish Run Persist…NSE ASI down 57bps

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The Nigerian equities market continued the bearish run for the second consecutive day to close the day negative. The benchmark index depreciated -0.57% on the back of renewed selloff in GUINNESS (-5.7%), OKOMUOIL (-9.7%), UNILEVER (-4.4%), DANGCEM (0.9%) and CADBURY (-5.0%) to decline market activity for the day, bringing WtD change to +1.10%  to close ASI lower at 30,021.62 points, tempering YtD loss to -13.36%. In the same vein, market capitalization declined N59.64 billion to close at N10.31 trillion, while market activity as measured by value and volume closed at N2.82 billion and 284.11 million respectively.

At the close of trading all sector index went southwards, closing negative save for the Oil & Gas Index which closed positive for the six consecutive trading session and leading the gainers list for the second consecutive day, appreciating +0.83% as positive investors sentiment in OANDO (+5.4%) muted the index. On the flipside, the consumer goods index receded from yesterday’s gains consequent on loses in the industry bellwethers; GUINNESS (-5.7%), UNILEVER (-4.4%) and CADBURY -5.0%) to close the index negative at -0.97%. Followed by the Pension index, which  joined the losers list as price depreciation in high capitalized  and liquid stocks which are constituents of the index led the index to closed negative by -0.58% at the close of trade. The Industrial Goods Index continued losses for the third consecutive day yesterday’s as the index close on the back of price depreciation in DANGCEM (-0.9%) and WAPCO (-0.5%) to shed -0.53%. in the same vein, the Banking Sector Index closed negative as selloff resurface in STANBIC (-0.4%), UBA (-1.9%) and FCMB (-3.2%), to declined the index for the second consecutive day by -0.32%. The selloff in the Insurance Index persist to depreciate the index for the fourth consecutive day, consequent on negative investors sentiment in AIICO (-2.3%) to close the index negative -0.03%

Even as impressive results from the banking industry are been released, we attribute the persistent selloff to the general negative mood in the market, we expect the index to pick up as more results from the industry are released.

The bearish run at the close of trading led to a decline in market sentiment to close lower relative to the previous trading day, the market breadth as measured by the ratio of advancers to decliners closed weak at 0.6x as 17 stocks advanced and 26 stocks declined for the day. The top gainers were OANDO (+5.4%), BETAGLAS (+5.0%), CUTIX (+5.0%), HONYFLOUR (+4.9%) and DIAMONDBNK (+4.2%), while top losers were OKOMUOIL (-9.7%), GUINNESS (-5.7%), CADBURY (-5.0%), EVANSMED (-4.9%) and UNILEVER (-4.4%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Momentum Takes a Breather…NSE ASI down 42bps

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After four days of consecutive price appreciation, the Nigerian equities market took a breather to close the day negative as the bullish run muted, the benchmark index depreciated by 0.42% on the back of selloff in DANGCEM (-2.6%), WAPCO (-0.5%), FLOURMILL (-1.9%), DANGSUGAR (-3.6%) and FIDSON (3.2%) to decline market activity for the day, a pullback from previous gains, bringing WtD change to +1.79%  to close the day lower at 30,199.15 points, tempering YtD loss to -12.86%. In the same vein, market capitalization lost N43.29 billion to close at N10.37 trillion, while market activity as measured by value and volume closed at N3.43 billion and 207.48 million respectively.

The Industrial Goods Index continue yesterday’s losses, to lead top losers at the close of trading on the back of price depreciation in DANGCEM (-2.6%), WAPCO (-0.5%) and DNMEYER (-4.1%)  to shed -1.51%. Followed by the Banking Sector Index, as selloff resurface, to declined the index from previous gains bolstered by investors optimism in the industry as the as we await more the third quarter results, the index depreciated to closing negative by -0.12% consequent on losses in DIAMONDBNK (-1.7%), GUARANTY (0.2%) and UBN (-0.9%). In the same vein, the Insurance Index depreciated for the third consecutive day, consequent on negative investors sentiment in AIICO (-1.1%) to close the index negative -1.07%.

On the flipside, the Oil & Gas Index closed positive, appreciating +1.23% as positive investors sentiment in OANDO (+8.3%) and FO (+0.03%) muted the index to appreciate for the fifth consecutive trading day, to lead top gainers at the close of trade. Followed by the Consumer Goods Index consequent on gains in the industry bellwethers; GUINNESS (+4.7%), NB (+2.1%) and VITAFOAM (+3.3%) to close the index positive at +1.07%. In the same vein, the Pension index which joined the gainers list consequent on price appreciation in high capitalized  and liquid stocks which are constituents of the index led the index to close positive to gain +0.29% at the close of trade.

The bearish run at the close of trading led to a decline in market sentiment to close lower relative to the previous trading day, the market breadth as measured by the ratio of advancers to decliners closed weak at 0.7x as 14 stocks advanced and 19 stocks declined for the day. The top gainers were OANDO (+8.3%), TRANSEXPR (+6.1%), AIRSERVICE (+4.9%), GUINNESS (+4.7%) and EVANSMED (+3.4%), while top losers were ARBICO (-4.9%), ACADEMY (-4.8%), DNMEYER (-4.1%), COSTAIN (-3.6%) and DANGSUGAR (-3.4%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

The Market Extend Gains as Bullish Run Persist…NSE ASI Up 35bps

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The Nigerian equities market appreciated for the fourth consecutive trading day, as the benchmark index gained further momentum to appreciate +0.35% as strategic positioning ahead of the third quarter results led to price uptrend in FO (+3.5%), GLAXOSMITH (+5.5%), PZ (+4.9%), FLOURMILL (+2.4%) and ETI (+2.5%) to improve market activity for day, a pullback from previous losses, bringing WTD change to +0.89%  to close the day at 30,325.11 points, tempering YtD loss to -12.50%. In the same vein, market activity as measured by value and volume closed at N3.22 billion and 245.39 million respectively.

The Oil & Gas Index closed positive, appreciating +1.54% as positive investors sentiment in FO (+3.5%) muted the index to appreciate for the fourth consecutive trading day, to lead top gainers at the close of trade. Followed by the Banking Sector Index, as the selloff in the Index declined as the sector gained investors optimism as we await the third quarter results, the index appreciated for the third consecutive day, closing positive by +1.18% consequent on gains in ETI (+2.5%), GUARANTY (+1.6%), STERLNBANK (+4.7%), FBNH (+1.7) and ACCESS (+1.9%). In the same vein, the Pension index which joined the gainers list consequent on price appreciation in high capitalized  and liquid stocks which are constituents of the index led the index to close positive to gain +0.57% at the close of trade.

On the flipside, the Insurance Index depreciated further at the close of trading to continue yesterdays loss, consequent on negative investors sentiment in MANSARD (-4.6%) to close the index negative -1.26% to lead top losers. Followed by the Consumer Goods Index consequent on losses in the industry bellwethers; UNILEVER (-4.6%), GUINNESS (-1.5%) and VITAFOAM (-5.0%) to close the index negative for the second consecutive day at -0.13%. In the same vein, The Industrial Goods Index receded from yesterday’s gains, to closed negative at the close of trading on the back of price depreciation in CUTIX (+4.8%), to shed -0.05%.

The bullish run at the close of trading improved market sentiment to close at the higher relative to the previous trading day, the market breadth as measured by the ratio of advancers to decliners uptick to close semi strong at 1.6x as 25 stocks advanced and 16 stocks declined for the day. The top gainers were TRANSEXPR (+9.5%), GLAXOSMITH (+5.5%), PZ (+4.9%), LIVESTOCK (+4.9%) and STERLNBANK (+4.7%), while top losers were VITAFOAM (-5.0%), ETERNA (-5.0%), MANSARD (-4.9%), CUTIX (-4.8%) and UNILEVER (-4.6%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

The Market Extend Gains as Bullish Run Persist…NSE ASI Up 1.29%

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The Nigerian equities market appreciated for the third consecutive trading day, as the market extend gains to start the week positive , the benchmark index gained further momentum to appreciate +1.29% as strategic positioning ahead of the third quarter results led to price uptrend in DANGCEM (+4.9%), MOBIL (+5.1%), UACN (+2.9%), WAPCO (+0.7%) and BERGER (4.92%) to improve market activity for day, a pullback from previous losses, bringing week-to-date change to -0.04%  to close the day at 30,219.01 points, tempering YTD loss to -12.81%. In the same vein, market activity as measured by value and volume closed at N1.93 billion and 104.45 million respectively.

The Industrial Goods Index led top gainers for the day as bullish sentiment resurface on the back of price appreciation in DANGCEM (+4.9%) and WAPCO (+0.7%) to close the index positive at +2.65% bringing WtD gain to +1.17%. Followed by the Banking Sector Index, as the selloff in the Index declined as the sector gained investors optimism as we await the third quarter result, the index appreciated for the second consecutive day, closing positive by +0.39% consequent on gains in GUARANTY (+0.9%), ACCESS(+2.97%), ZENITHBANK (+0.6%), UBA (+1.2%) and UNITYBNK (+2.7%). In the same vein, the Oil & Gas Index closed positive, appreciating +0.26% as positive investors sentiment in MOBIL (+4.1%) muted the index to appreciate at the close of trade.

On the flipside, the Consumer Good Index receded from previous gain, consequent on losses in the industry bellwethers; GUINNESS (-2.6%), NB (-0.2%) and VONO (-4.2%) to close the index negative at -0.25%. Followed by the Pension index, which joined the losers list as price decline in high capitalized  and liquid stocks which are constituents of the index led the index to close negative, losing -0.16% at the close of trade. In the same vein, the Insurance Index which depreciated at the close of trading consequent on losses in AIICO (-2.2%) and CUSTODYNS (-2.7%) to close the index negative -0.09%.

The bullish run at the close of trading muted market sentiment to close at the same level as the previous trading day, but the market breadth as measured by the ratio of advancers to decliners still remained weak to closed 0.9x as 18 stocks advanced and 20 stocks declined for the day. The top gainers were DANGCEM (+4.9%), BERGER (+4.9%), HONYFLOUR (+4.7%), CUTIX (+4.4%) and MOBIL (+4.1%), while top losers were TRANSEXPR (-7.1%), NASCON (-6.9%), RTBRISCOE (-5.0%), WEMABANK (-5.0%) and EVANSMED (-4.9%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

The Bullish Run Persist…NSE ASI Up 45bps

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The Nigerian equities market continued the bullish run for the second consecutive day to close the day positive. The benchmark index appreciated +0.45% on the back of renewed optimism in FO (+3.7%), UACN (+4.5%), ZENITHBANK (+3.9%), GUARANTY (+2.04%) and NB (+0.23%) to improve market activity for the day, bringing WtD change to -1.10%  to close the day higher at 29,834.21 points still far below the psychological level, tempering YtD loss to -13.92%. In the same vein, market capitalization gained N46.09 billion to close at N10.25 trillion, while market activity as measured by value and volume closed at N2.23 billion and 157.84 million respectively.

At the close of trading all sector index went northwards, closing positive save for the Industrial Index which closed negative to reverse yesterdays gains on account of the loss in CCNN(-2.9%). On the flipside, after leading the losers list for two consecutive trading days, the Banking sector Index appreciated the most at the close of trade by +1.5%, to reverse previous losses  consequent on gains in ZENITHBANK (+3.9%), GUARANTY (+2.0%) and SKYEBANK (+9.7%). Followed by the Pension index, which  joined the gainers list as price appreciation in high capitalized  and liquid stocks which are constituents of the index led the index to closed positive to gain +1.2% at the close of trade. In the same vein, the Oil & Gas Index sustained yesterday’s gains, as positive investors sentiment in FO (+3.7%), muted the index to appreciate further by +1.1%. Selloff in the Insurance Index reversed as appreciation in AIICO (+4.7%) and NEM (+4.6%), led to a rebound in the index to close positive at +0.44%. The Consumer Good Index also rebound from four consecutive days of selloff, consequent on gains in the industry bellwethers; UACN (+4.5%), NB (+0.23%) and DANGSUGAR (+2.7%) to close the index positive at 0.07%.

The bullish run at the close of trading muted market sentiment to close at the same level as the previous trading day, but the market breadth measured by the ratio of advancers to decliners still remained weak to closed 0.9x as 19 stocks advanced and 20 stocks declined for the day. The top gainers were SKYEBANK (+9.7%), LEARNAFRCA (+5.0%), AIICO (+4.7%), NEM (+4.6%) and UACN (+4.5%), while top losers were TRANSCOHOT (-9.6%),ETRANSACT (-5.0%), CAVERTON (-5.0%), VONO (-5.0%) and EVANSMED (-4.7%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Takes a Breather…NSE ASI up 11bps

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After two days of consecutive sell off, the Nigerian equities market took a breather to close the day positive as the bearish run muted, the benchmark index appreciated by 0.11% on the back of renewed optimism in FO (+2.3%), OKOMUOIL (+10.3%), UACN (+4.3%), DANGCEM (+0.6%) and 7UP (+0.5%) to moderate market activity for the day, bringing WtD change to -1.40%  to close the day higher at 29,700.08 points still far below the psychological level, tempering YtD loss to -14.30%. In the same vein, market capitalization gained N10.96 billion to close at N10.20 trillion, while market activity as measured by value and volume closed at N3.44 billion and 172.84 million respectively.

The Banking sector index declined to lead top losers for the second consecutive trading day, as profit taking persist in GTBANK (-1.4%), ACCESS (-5.0%) and ZENITHBANK (-0.6%) to close the index at –negative at -0.71%, while WtD declined but still in the positive territory at 0.01%. The Pension index joined the losers list as price depreciation in high capitalized  and liquid stocks which are constituents of the index led the index to close negative, losing -0.28% at the close of trade. Followed by the Consumer Goods Index which declined for the fourth consecutive day as sell off pressure persist on the back of expected negative results from the industry, the profit taking continued in the industry bellwethers; FLOURMILL (-4.5%), NESTLE (-0.1%) and VITAFOAM (-5.0%) to close the index at -0.14% bringing WtD loss to -2.10% .

On the flipside, the selloff in the Industrial Index declined to appreciate at the close of trading by +0.43% consequent on gains in  DANGCEM (+0.63%), to lead top gainers for the day. Followed by the  Insurance Index which appreciated to sustain previous gains as the bull run persist in MANSARD (-4.5%) and CUSTODYNS (-2.7%) to close the index positive +0.85%. In the same vein, the Oil & Gas Index closed positive, appreciating +0.86% as positive investors sentiment in FO (+2.3%) muted the index to appreciate at the close of trade.

The bullish run at the close of trading led to an improvement in market sentiment to close higher than the previous trading day, as the market breadth measured by the ratio of advancers to decliners closed higher relative to previous close of 0.7x to close the trading day at 0.9x as 21 stocks advanced and 23 stocks declined for the day. The top gainers were OKOMUOIL (+10.3%), TRANSEXPR (+6.5%), MANSARD (+4.7%), UACN (+4.3%) and EVANSMED (+3.2%), while top losers were ACCESS (-5.0%),VITAFOAM (-5.0%), BERGER (-5.0%), NIG-GERMAN (-4.5%) and NPFMCRFBK (-4.6%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Extended Losses Today…NSE ASI Down 1.30%

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The Nigerian equities market closed the day negative to extend yesterday’s loss, the benchmark index lost momentum further to depreciate by -1.30% as sell off resuscitate across broad index save for the Insurance Index. The further decline is on the back of losses in TOTAL (-3.2%), DANGCEM (-2.4%), UACN (-6.2%), NB (-1.1%) and PZ (-4.0%) to pullback the index, bringing week-to-date change to -1.6%  to close the day at 29,668.16 points below the psychological level, tempering YTD loss to -14.40%. In the same vein, market capitalization lost N134.11 billion to close at N10.19 trillion, while market activity as measured by value and volume closed at N1.65 billion and 160.57 million respectively.

Performance across the various sectors was mixed as most of the index closed the day negative save for the Insurance Index which closed positive. The Banking sector index decline to lead top losers as the index closed negative as profit taking persist in GTBANK (-2.7%),  UBN (-4.8%) and ACCESS (-4.9%) to close the index at -1.64%, while WtD close remain positive at 0.08%. The Pension index joined the losers list as price depreciation in high capitalized  and liquid stocks which are constituents of the index led the index to close negative, losing -1.44% at the close of trade. The Industrial Goods Index closed negative for the fourth consecutive trading day as the index receded further by -1.08% on account of negative investors’ confidence triggered by the expected negative results from the industry leading to a price depreciation in DANGCEM (-2.44%) and PORTPAINT (-4.9%). Followed by the Oil and Gas Index which closed negative, depreciating -0.7% as sell off resuscitate in TOTAL (-3.2%) and OANDO (-4.9%) declining the sector index to close negative to recede previous gains. In the same vein, the Consumer Goods Index declined -0.57%, as sell off pressure persist on the back of expected negative results from the industry, the profit taking continued in the industry bellwethers; UACN (-6.23%), NB (-1.1%) and PZ (-4.0%). On the flipside, the  Insurance Index appreciated to sustain previous gains as the bull run persist in NEM (+4.6%) and AIICO (+1.1%) to close the index positive at 0.24%, to lead top gainers.

The bearish run at the close of trading led to a decline in market sentiment to close lower than the previous trading day, as the market breadth as measured by the ratio of advancers to decliners closed lower relative to previous close of 0.9x to close the trading day at 0.7x as 19 stocks advanced and 27 stocks declined for the day. The top gainers were OKOMUOIL (+10.2%), MOBIL (+5.0%), NASCON (+4.9%), TRANSEXPR (+4.9%) and ACADEMY (+4.8%), while top losers were UNITYBNK (-9.0%), UACN (-6.2%), EVANSMED (-6.1%), UBA (-5.0%) and LIVESTOCK (-5.0%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Shed Two Day Gains…NSE ASI Down 57bps

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The Nigerian equities closed the day negative to reverse the gains from the last two trading days, the benchmark index lost momentum to depreciate by 0.57% as sell off persist  in the Industrial and Consumer Goods Index on the back of losses in DANGCEM (+1.8%), NB (+1.1%), UACN (+5.0), GUINNESS (+0.9%) and PZ (+3.9%) to pullback the index from previous gains, bringing week-to-date change to -0.90%  to close the day at 30,058.40 points, tempering YTD loss to -13.27%. In the same vein, market capitalization lost N59.37 billion to close at N10.33 trillion, while market activity as measured by value and volume closed at N1.37 billion and 124.24 million respectively.

The Industrial Goods Index closed negative for the third consecutive trading day as the index receded further by -0.76% on account of negative investors’ confidence triggered by the expected negative results from the industry leading to a price depreciation in DANGCEM (+1.8%) to lead top losers for the day. Followed by The Consumer Goods Index, which declined -0.63%, as sell off pressure persist on the back of expected negative results from the industry, the profit taking continued in the industry bellwethers;  NB (-1.1%), UACN (-5.0%) and GUINNESS (-0.9%). In the same vein, the Pension index joined the losers list as price depreciation in high capitalized  and liquid stocks which are constituents of the index led the index to close negative, losing -0.17% at the close of trade.

On the flipside, the  Insurance Index appreciated to sustain previous gains as the bull run persist in MANSARD (+4.9%) to close the index positive at 1.12%, to lead top gainers. Followed by the Banking Sector Index, as the selloff in the Index declined on the back of positive investors optimism as we await the third quarter result, the index appreciated at the close of trading by +0.62% consequent on gains in  GUARANTY (+1.4%), ETI (+0.8%) and UBA (+0.7%). In the same vein, the Oil & Gas Index closed positive, appreciating +0.4% as positive investors sentiment in SEPLAT (+2.6%) and MOBIL (+1.0%) appreciated the sector index to close positive to continue previous gains.

The bearish run at the close of trading led to an decline in market sentiment to close lower than the previous trading day, as the market breadth as measured by the ratio of gainers to losers closed higher relative to previous close of 1.7x to close the trading day at 0.9x as 23 stocks advanced and 24 stocks declined for the day. The top gainers were OKOMUOIL (+5.0%), ETERNA (+5.0%), BERGER (+4.9%), MANSARD (+4.9%) and EVANSMED (+4.8%), while top losers were TRANSEXPR (-8.9%), UACN (-5.0%), UBCAP (-5.0%), HONYFLOUR (-5.0%) and FIDSON (-5.0%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Momentum Persist…NSE ASI up 22bps

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The Nigerian equities market appreciated for the second trading day, as the market uptick further to start the week positive , the benchmark index gained further momentum to appreciate 0.22% as strategic positioning ahead of the third quarter results led to price uptrend in FO (+3.9%), MOBIL (+3.4%), GUINNESS (+2.4%), PZ (+4.0%) and ASHAKACEM (2.6%) to pullback the index from previous losses, bringing week-to-date change to -0.57%  to close the day at 30,231.16 points, tempering YTD loss to -12.77%. In the same vein, market capitalization gained N22.66 billion to close at N10.39 trillion, while market activity as measured by value and volume closed at N1.48 billion and 134.62 million respectively.

Performance across the various sectors was mixed as most of the index closed the day positive save for the Consumer Goods and Industrial Sector Goods Index. The Consumer Goods Index declined -0.47%, as sell off pressure persist on the back of expected negative results from the industry, the profit taking continued in industry bellwethers;  NB (-1.4%), FLOURMILL (-2.9%) and UACN (-0.6%) to lead top losers for the day. Followed by the Industrial Goods Index which closed negative as the index receded further by 1bps on account of negative investors’ confidence as the loss was moderated by the gains in ASHAKACEM (+2.6%). On the flipside, the Oil & Gas Index closed positive, appreciating +2.07% as positive investors sentiment in FO (+3.9%) and MOBIL (+3.4%) appreciated the sector index to close positive to lead top gainers for the day. Followed by the Banking Sector Index, as the selloff in the Index declined as the sector gained investors optimism as we await the third quarter result, the index appreciated at the close of trading by +0.89% consequent on gains in  ZENITHBANK (+3.1%), GUARANTY (+1.4%), STANBIC (+0.7%), FCMB (+6.22%) and UNITYBNK (+4.32%). The  Insurance Index appreciated to sustain previous gains as the bull run persist in MANSARD (+2.1%) and AIICO (+1.12%), to close the index positive at 0.45%. In the same vein, the Pension index joined the gainers list as price appreciation in high capitalized  and liquid stocks which are constituents of the index led the index to close positive, gaining +0.32% at the close of trade.

The bullish run at the close of trading led to an improvement in market sentiment to close higher than the previous trading day, as the market breadth closed higher relative to previous close of 1.6x to close the trading day at 1.7x as 25 stocks advanced and 15 stocks declined for the day. The top gainers were FCMB (+6.22%), EVANSMED (+5.0%), NAHCO (+4.9%), TRANSEXPR (+4.6%) and UNITYBNK (+4.32%), while top losers were CUTIX (-5.0%), HONYFLOUR (-4.7%), LEARNAFRCA (-4.4%), NEM (-4.3%) and FLOURMILL (-2.9%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Gain Momentum…NSE ASI up 14bps

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After five days of consecutive sell off, the Nigerian equities market gained momentum to close the last day of the week positive as the bearish run muted, the benchmark index appreciated by 0.14% on the back of renewed optimism in FO (+0.5%), ASHAKACEM (+1.9%), GUARANTY (+1.43%), 7UP (+0.2%) and INTERBREW (-1.7%) to moderate market activity for the day, bringing WtD change to -3.37%  to close the day higher at 30,165.22points, tempering YtD loss to -12.96%. In the same vein, market capitalization gained N14.44 billion to close at N10.36 trillion, while market activity as measured by value and volume closed at N1.33 billion and 188.039 million respectively.

Performance across the various sectors was mixed as most of the index closed the day positive save for the Consumer Goods and Industrial Sector Goods Index. The Consumer Goods Index declined -0.31%, shedding yesterdays gain on the back of pump and dump activities in  NB (-0.7%), GUINNESS (-0.6%) and DANGSUGAR (-0.8%) to lead top losers for the day. Followed by the Industrial Goods Index which closed negative as the index receded from yesterdays appreciation on account of losses in CCNN (-5.0%) bringing the day close to +0.04%, as the loss was moderated by the gains in ASHAKACEM (+1.86%). On the flipside, the selloff in the Banking sector Index declined as the sector gained investors optimism as we await the third quarter result, the index appreciated at the close of trading by +0.88% consequent on gains in  GUARANTY (+1.43%), ZENITHBANK (+1.6%), UNITYBNK (+8.0%), UBN (+1.7%) and FBNH (+1.6%) to lead top gainers for the day. Followed by the  Insurance Index as bull resuscitate in AIICO (+4.7%), MANSARD (+1.7%), NEM (+4.5%), to close the index positive at 0.74%. The Pension index joined the gainers list as price depreciation in high capitalized  and liquid stocks which are constituents of the index led the index to close positive, gaining +0.31% at the close of trade. In the same vein, the Oil & Gas Index closed positive, appreciating +0.16% as positive investors sentiment in FO (+0.52%) appreciated the sector index to close positive.

The bearish run at the close of trading led to an improvement in market sentiment to close higher than the previous trading day, as the market breadth closed higher relative to previous close of 0.8x to close the trading day at 1.6x as 23 stocks advanced and 14 stocks declined for the day. The top gainers were UNITYBNK (+8.0%), AIICO (+4.7%), NEM (+4.5%), NEIMETH (+4.1%) and AGLEVENT (+3.0%), while top losers were FCMB (-7.1%), CCNN (-4.9%), EVANSMED (-4.8%), MBENEFIT (-3.9%) and AFRIPUD (-3.0%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Sustain Downtrend for the Fifth Day…NSE ASI down 0.06%

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The Nigerian equities market continued the bearish run for the fifth consecutive day of losses, the benchmark index declined further by 0.06%, bring five day loss to -3.55% as profit-taking activities led to losses in INTBREW (-1.7%), ZENITHBANK (-1.5%), BOCGAS (-4.8%), ACCESS (-3.8%) and IKEJAHOTEL (-5.0%) to pullback the WtD change further to -3.5%  to close the day at 30,123.20 points, tempering YtD loss to -13.08%. In the same vein, market capitalization fell N6.14 billion to close at N10.35 trillion, while market activity as measured by value and volume closed at N1.91 billion and 219.553 million respectively.

Performance across the various sectors was mixed as most of the index closed the day negative save for the Consumer Goods and Industrial Sector Goods Index. The Consumer Goods Index gained +0.21%, shedding yesterdays loss on the back of price appreciation in  GUINNESS (+2.3%), FLOURMILL (+1.9%) and CADBURY (+0.5%) to lead top gainers for the day. Followed by the Industrial Goods Index which closed positive to continue yesterdays appreciation on account of gains in BETAGLAS (+3.0%) and BERGER (+5.0%) bringing the day close to +0.14%. On the flipside Selloff in the Insurance Index continued as profit taking in MANSARD (-4.4%), NEM (-4.3%) and AIICO (-2.3%), led to a decline  in the index to close negative at -1.5% to lead top losers. Followed by the Banking sector Index which has continued sell off as investors await the third quarter result, the index depreciated further at the end of trading by -0.64% consequent on losses in  ZENITH(-1.5%) and ACCESS (-3.8%) and SKYEBANK (-4.0%). The Pension index joined the losers list as price depreciation in high capitalized  and liquid stocks which are constituents of the index led the index to close negative losing -8bps at the close of trade. In the same vein, the Oil & Gas Index continued the downtrend, declining -0.01% as negative investors sentiment in BOCGAS (-4.8%) and OANDO (-0.1%) depreciated the sector index further to close negative.

As the sustained downtrend in the market continue, the bearish run at the close of trading led to a decline in positive market sentiment but higher than the previous trading day, as the market breadth closed higher relative to previous close of 0.5x to close the trading day at 0.8x as 18 stocks advanced and 23 stocks declined for the day. The top gainers were TRANSEXPR (+9.2%), BERGER (+5.0%), OKOMUOIL (+4.2%), EVANSMED (+3.3%) and FIDSON (+3.2%), while top losers were IKEJAHOTEL (-5.0%), BOCGAS (-4.8%), MANSARD (-4.4%), NEM (-4.3%) and SKYEBANK (-4.0%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

The Bearish Sentiment Persist…NSE ASI declined 62bps

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The Nigerian equities market continued the bearish run for the third consecutive day of the week, the benchmark index declined further by 0.62%, bring three day loss to -1.47% as profit-taking activities led to losses in FO (-3.6%), UACN (-5.0%), FLOURMILL (-4.8%), GUARANTY (-4.4) and CADBURY (-4.4%) to pullback the week-to-date change further to -2.03%  to close the day at 30,141.06 points, tempering YTD loss to -13.03%. In the same vein, market capitalization fell N65.13 billion to close at N10.38 trillion, while market activity as measured by value and volume closed at N3.78 billion and 262.22 million respectively.

Performance across the various sectors was mixed as all the index closed the day negative save for the Industrial Sector which closed positive to appreciate from yesterdays loss on account of gains in DANGCEM(+0.3%). On the flipside, the Banking sector Index depreciated the most (-0.5%) consequent on losses in GUARANTY (-4.4%), ZENITH(-1.8%) and UBN (-1.8%). In the same vein, the Oil & Gas Index declined -1.82% as negative investors sentiment in FO (-3.6%), OANDO (-2.8%) and BOCGAS (-4.98%) depreciated the sector index further to close at -1.82%. The Pension index joined the losers list as price depreciation in high capitalized  and liquid stocks which are constituents of the index led the index to closed negative losing -1.4b% at the close of trade. Selloff in the Insurance Index continued as depreciation in MANSARD (-4.2%) and NEM -10bps, led to a decline  in the index to close negative at -0.7%. The Consumer Goods recede from yesterday’s gain to join losers list as pump and dump activities led to price depreciation in the industry bellwethers  UACN (-5.0%), FLOURMILL (-4.8%) and CADBURY (+4.4%) to close the index negative at 0.4%.

The Bearish run at the close of trading led to a decline in positive market sentiment, as the market breadth closed lower relative to previous close of 0.9x to close the trading day at 0.5x as 15 stocks advanced and 30 stocks declined for the day. The top gainers were UNITYBNK (+8.5%), GLOXOSMITH (+5.0%), CONTINSURE (+4.2%), AGLEVENT (+4.0%) and MBENEFIT (+4.0%), while top losers were VITAFOAM (-6.3%), BOCGAS (-4.39%), UACN (-5.0%), FLOURMILL (-4.8%) and ETERNA (-4.7%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

The Equities Market Opened the Week Bearish…NSE ASI down 60bps

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The Nigerian equities market declined for the second trading day, as the market declined further to start the week bearish , the benchmark index declined 0.6% as profit-taking activities led to losses in DANGCEM (-3.0%), GUINNESS (-0.82%), UACN (-3.8%), ETI (-2.9%) and BERGER (-5.0%) to pullback the index bringing week-to-date change to -1.17%  to close the day at 30,405.88 points, tempering YTD loss to -12.27%.

Performance across the various sectors was mixed as the Industrial Goods index led top losers as the index closed negative as profit taking activities resumed and investors sentiment in the industrial goods sector declined due to bearish bets on BERGER (-5.0%), PORTPAINT (-4.9%) and DANGCEM (-1.8%) as the index depreciated at the close of trading by -1.1%.Followed by the Insurance Index as the index declined on profit taking in MANSARD (-3.4%). The Pension index joined the losers as price decline of the stocks in the index closed negative losing -0.2% at the close of trade. The Banking index lost sentiment further as the index declined at the close of trade as pump and dump increase in SKYEBANK (-3.5%), ETI (-2.9%)  and FIDELITYBNK (-2.63%) to close the index negative at the close of trade losing -0.1%. The bearish sentiment in the consumer goods continued as selloff persist in HONYFLOUR (-4.83%), UACN (-3.8%) and DANGFLOUR (-3.7%). The Oil and Gas index remained the only gainer at the end of trading as bullish sentiment continued on the back of price appreciation in MOBIL (+2.41%) as the index closed 9bps higher.

The market sentiment at the close of trading declined further as the market breadth closed lower relative to previous close of 1.3x to close the trading day at 0.6x as 16 stocks advanced and 29 stocks declined for the day. The top gainers were NAHCO (+4.9%), CUTIX (+4.8%), IKEJAHOTEL (+4.7%), UNITYBANK (+4.6%) and UBA (+4.0%), while top losers were TRANSEXPR (-8.9%), LIVESTOCK (-5.0%), BERGER (-5.0%), ALEX (-4.9%) and PORTPAINT (-4.9%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

The Bullish Sentiment Took a Breather…NSE ASI declined 2.02%

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The Nigerian equities market took a breather today after the strong rally recorded past three trading days, the benchmark index declined 2.02% as profit-taking activities led to losses in NESTLE (-4.6%), DANGCEM (-5.0%), NB (-4.8%), GUINNESS (-2.9%) and PZ (-3.1%) to pullback the gains over the past days bringing week-to-date change to -0.57%  to close the day at 30,588.41 points, tempering YTD loss to -11.74%. Investors lost N216.3 billion as the market capitalization fell  to close at N10.51 trillion, while market activity as measured by value and volume closed at N3.13 billion and 274.96 million respectively.

The Consumer Goods led top losers as the previous gains experienced in the index declined as profit taking led to bearish sentiment to close the trading day negative by -3.18% on the back of pump and dumb in NB (-4.76%), HONYFLOUR (+9.8%), NESTLE (-4.6%) and GUINNESS (-2.9%). Followed by the Industrial Goods index which closed negative as profit taking activities resumed as investors sentiment in the industrial goods sector declined due to bearish bets on DANGCEM (-5.0%),  as the index depreciated at the close of trading by -2.35%. The Pension index joined the losers as price decline of the stocks in the index closed negative losing -0.28% at the close of trade. The Oil and Gas index continued appreciation to lead top gainers on the back of price appreciation in FO (+4.8%) and TOTAL (+3.3%) bringing the day close of the index to +2.36%. The selloff in the Insurance index declined  as it closed positive as investors sentiment in MANSARD (+3.46%) and AIICO (+1.15) lifted the index to close positive at +0.83. The Banking sector index resuscitated from its five days recession as the index closed positive on price appreciation in ETI (+3.0%),  STANBIC (+2.3%) and UNITYBNK (+1.6%) to close the index at +0.1%.

The Bearish run at the close of trading did not have much impact on the market sentiment, as the market breadth closed higher relative to previous close of 0.8x to close the trading day at 1.3x as 22 stocks advanced and 17 stocks declined for the day. The top gainers were HONYFLOUR (+8.2%), FO (+4.8%), CUTIX (+4.4%), UBN (+4.2%) and VONO (+4.2%), while top losers were TRANSEXPR (-7.4%), DANGCEM (-5.0%), NEIMETH (-4.9%), PORTPAINT (-4.9%) and NB (-4.8%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Benchmark Index gained at the close of market…NSE ASI up 20bps

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The stock market closed the day positive as gains by DANGCEM (+1.77%), NB (+0.66%) and FLOURMILL (+3.41%) drove the All share Index 0.20% higher, bringing two days gain to 92bps to close the day at 30,825.00pts, tempering YTD loss to -11.1%. Market capitalization improved N20.8billin to close at N10.59trillion, while market activity as measured by value and volume closed at N2.5billion and 707.9million respectively.

The Insurance index led top losers as it closed negative on profit taking in AIICO (-4.3%), NEM (-4.2%) and MANSARD (-4.03%). The Banking sector index followed with a negative close as profit taking persist in ZENITHBANK (-2.9%), GTBANK (-1.3%) and FCMB (-1.3%) to close the index at -1.2% bringing WtD close to -1.6%. Followed by the Pension index which receded from yesterday’s gain to close at -0.51%.  Industrial Goods index which closed yesterday negative at -0.15%, led top gainers as it appreciated at the close of trading to close at +0.67% as investors sentiment in the industrial goods sector improved due to bullish bets on BERGER (+4.9%) and DANGCEM (+1.8%).  The Oil and Gas index sustained gains closing +0.33%, due to price appreciation in OANDO (+1.94%). The Consumer Goods gained at the close of trade, rising +0.23% on the back of price appreciation in HONYFLOUR (+4.3%), FLOURMILL (+3.4%) and CHAMPION (+3.2%).

Bullish run in the market did not lift market sentiment, as the market breadth closed lower relative to yesterday’s close at 0.7x as 20 stocks advanced and 28 stocks declined for the day. The top gainers were TRANSEXPR (+5.8%), UPL (+5.0%), BERGER (+4.9%), ETRANSACT (+4.7%) and HONYFLOUR (+4.7%), while top losers were SCOA (-4.8%), CAVERTON (-4.8%), MAYBAKER (-4.6%), JBERGER (-4.5%) and JOSBREW (-4.4%).

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Benchmark Index Gained at the close of market…NSE ASI up 72bps

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The stock market opened the week positive as gains by NESTLE (+4.84), FO (+4.17) and NB (+4.26) drove the All share Index 0.72% higher to close the day at 30,764.37pts, bringing YTD loss to -11.23%. Market capitalization improved to close at N10.57trillion, while market activity as measured by value and volume closed at N3.17billion and 266.7million respectively.

The Banking sector index closed negative on the back of profit taking in ZENITHBANK (-3.3%), ACCESS (-2.33) and FBHN(-1.43%) to close the index at -0.16. Followed by Industrial Goods index which close at (-0.15%) as profit taking persist.  All other sector indicators drifted northwards. The Consumer Goods index gained the most at the close of trade, rising 2.9% on the back of price appreciation in UACN (+5.0%), NESTLE (+4.8) and NB (+4.3%), the industry giants. The Oil and Gas index followed with 1.2% appreciation due to bullish bets on FORTE OIL (+4.2%). The Pension index rose 0.5% and the Insurance index inched up 0.21 as a result of bullish sentiment in AIICO (+3.33%,) and NEM (+2.86%).

Bullish sentiment in the market improved tempering the market breath to close positive at 1.3x as 25 stocks advanced and 19 stocks declined for the day. The top gainers were ETERNA (+5.4%), UACN (+5.0%), FIDSON (+5.0%), NESTLE (++4.8%) and REDSTAREX (+4.8%), while top losers were JBERGER (-5.0%), DANGFLOUR (-4.9%), CUTIX (-4.8%), EVANSMED (-3.8%) and CUSTODYNS (-3.8%). We anticipate market activity to improve for the rest of the week as the announcement of cabinet members should ease up market sentiment as a positive direction in economy is expected.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Rebounds for the second trading session…NSE ASI up 0.38%

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Investors sentiment in the equities market increased for the second trading day as the Benchmark index- All Share Index closed 38bps higher to close for the day at 30,543.17 points, this brought the year-to-date loss to -11.87%. The uptrend performance in the market was boosted by gains FO (+3.85%), DANGCEM (+0.89%), STANBIC (+4.98) and WAPCO (+0.55%). Reacting to the improvement in the market activity at the close of market , the market capitalization improved to close at N10.49trillion, while market activity as measures by value and volume closed at N4.37billion and 466.9million respectively.

The Banking Index receded for the third trading day as the index closed negative at -0.29%, this brought the year-to-date loss to -7.46% as profit taking in UBN (-3.1%), DIAMONDBNK (-2.), FCMB (-1.7%), ACCESS (-1.53%), UNITYBNK (-7.4%), STERLNBNK (-0.47%), ETI (-0.32%), FBNH(-0.16%) and GTBANK (-0.8%) . The Oil and Gas Index rose 1.3% on the price appreciation by FO (3.85%), while the Industrial Goods index gained  0.70% due to price appreciation DANGCEM (+0.89%) and WAPCO (+0.55). The Insurance index increased 0.58% on account of gains by NEM (+4.48%) and CONTINSURE (+4.26%). The Consumer Goods index increased 1bps on account of bullish sentiment on VONO (+4.94) and PZ (+0.7%).

The market breath closed at 0.92x as 22 stocks advance and 24 stocks declined for the day. The top gainers were FO, DANGCEM, STANBIC, WAPCO and UAC-PROP, while top losers were OKOMUOIL, UACN, ASHAKACEM, GUINESS and VITAFOAM.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market Rebounds…NSE ASI up 0.53%

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The Nigerian equities market rebounded from its previous negative close as the Benchmark index- All Share Index- reversed losses, gaining 0.5% to close for the day at 30,426.10 points. Increased interest in NIG-GERMAN CHEMICALS (+5.1%), MANSARD (+5.0%) and FORTE OIL (+5.0%) lifted the market activity. After the close of today’s trading session all the Insurance index surged to lead advancers on strong rally in MANSARD (+5.0), followed by Oil and Gas Index on the back of gains by FO (+5.0) and SEPLAT (+4.9%). The Banking index fell (-3.4%) to lead decliners pressured by the loss in DIAMOND (-4.6%), WEMABANK (-4.0%), STANBIC (-2.7%), GUARANTY (-1.4%), FIDELITY (-1.3%), UNITYBNK (-0.7%) and ZENITHBNK (-0.1%).

The index closed today’s trading at 30,426.10 points, up by 0.53%, while its year to date return stands at -12.21%. The market capitalization of the listed equities closed at NGN10.456 trillion. Volume of trades increased to 207 million and the Value of trades also increased to NGN3.13 billion. UBA, GUARANTY and TRANSCORP were the most actively traded stocks in terms of volume while GUARANTY, NIGERIAN BREWERIES and NESTLE topped in terms of value. A total number of 19 stocks recorded price appreciation while 24 stocks declined close market breath 0.79x.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Trading week ends on a negative note, ASI down by -0.26%

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The trading week has ended on a negative note, with the ASI returning a marginal loss of -0.26%. The All Shares Index continues to hover above the psychological level of 30,000 basis points despite losses that were expected this week, especially in the Banking Sector, due to the implementation of the Treasury Single Account. After the close of today’s trading session all sectors returned mixed performances. The Insurance Sector has returned the highest gain for the day, of 0.99% while the Industrial goods sector returned the worst performance of -0.87%. In terms of sectors’ year to date performances, all sectors have returned a negative performance apart from the Industrial Goods sector, with a YTD of 0.31%. The Consumer goods sector is the worst performing sector with a YTD return of -14.50%.

The index closed today’s trading at 30,332.68 points, down by -0.26% (77.71 points), while its year to date return stands at -12.48%. The market capitalization of the listed equities closed at NGN10.42 trillion. Volume of trades increased to 333 million and the Value of trades also increased to NGN3.51 billion. LASACO, SOVRENINS and ZENITHBANK were the most actively traded stocks in terms of volume while UACN, ZENITHBANK and GUARANTY topped in terms of value. A total number of 26 stocks recorded price appreciation while 18 stocks declined. ETRANZACT returned highest for the day, gaining by 9.95% to close at NGN2.43, followed by BERGER which also gained 4.97% to close at NGN9.93. On the flipside, COSTAIN and DEAPCAP topped the losers table for the day, shedding -4.92% to both close at NGN0.58.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

ASI returns marginal gain of 0.17%

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At the close of today’s trading session, the market has returned a marginal appreciation of 0.17%, much like the appreciation recorded at the close of the previous trading session. After the close of today’s trading session all sectors returned mixed performances. Once again, the Banking Sector has returned the highest gain for the day, of 0.60%, however, we expect banks profits to fall due to the implementation of the TSA, which will undoubtedly affect their stock prices and the overall sector performance. The Consumer goods sector returned the worst performance of -0.35%. In terms of sectors’ year to date performances, all sectors have returned a negative performance apart from the Industrial Goods sector, with a YTD of 1.18%. The Consumer goods sector is the worst performing sector with a YTD return of -14.84%.

The index closed today’s trading at 30,410.39 points, up by 0.17% (50.92 points), while its year to date return stands at -12.40%. The market capitalization of the listed equities closed at NGN10.45 trillion. Volume of trades increased to 211 million and the Value of trades also increased to NGN2.72 billion. CUSTODYINS, ACCESS and FBNH were the most actively traded stocks in terms of volume while UACN, WAPCO and NESTLE topped in terms of value. A total number of 23 stocks recorded price appreciation while 19 stocks declined. OKOMUOIL returned highest for the day, gaining by 4.98% to close at NGN28.47, followed by JBERGER which also gained 4.95% to close at NGN44.08. On the flipside, PREMBREW and FIDSON topped the losers table for the day, shedding -4.84% and -4.78% to close at NGN2.95 and NGN3.19 per share respectively.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Banking sector emerges strongest despite liquidity worries

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Despite worries surrounding the implementation of the Treasury Single Account and the detrimental effects the policy will have on liquidity as approximately 1.5 trillion naira has already been transferred to the CBN, at the close of today’s trading session the Banking Sector has emerged the strongest of all the sectors, returning the biggest gain for the day. After the close of today’s trading session all sectors returned mixed performances. The Banking sector returned the best performance today, reporting a gain of 1.53%, while the Consumer goods sector returned the worst performance of -0.40%. In terms of sectors’ year to date performances, all sectors have returned a negative performance apart from the Industrial Goods sector, with a YTD of 1.54%. The Consumer goods sector is the worst performing sector with a YTD return of -14.88%.

The index closed today’s trading at 30,359.47 points, up by 0.16% (47.70 points), while its year to date return stands at -12.40%. The market capitalization of the listed equities closed at NGN10.43 trillion. Volume of trades decreased to 169 million and the Value of trades also decreased to NGN1.41billion. FBNH, UBCAP and UNITYBNK were the most actively traded stocks in terms of volume while GUARANTY, FBNH and ZENITHBANK topped in terms of value. A total number of 26 stocks recorded price appreciation while 21 stocks declined. ETERNA returned highest for the day, gaining by 9.41% to close at NGN1.86, followed by ETRANZACT which also gained 4.98% to close at NGN2.11. On the flipside, UNITYBNK and FCMB topped the losers table for the day, shedding -8.09% and -4.45% to close at NGN1.25 and NGN2.36 per share respectively.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Positive start to trading week as ASI appreciates by 2.29%

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The trading week has begun on a positive note as far more stocks have reported price gains versus those who reported price losses, pushing the ASI back above the 30,000 points threshold with a strong appreciation of 2.29%, following on from an appreciation recorded at the close of the previous trading session. After the close of today’s trading session all sectors returned positive performances apart from the Insurance which reported a loss of  -0.93%. The Consumer Goods sector returned the best performance today, reporting a gain of 3.19%. In terms of sectors’ year to date performances, all sectors have returned a negative performance apart from the Industrial Goods sector, with a YTD of 1.16%. The Consumer goods sector is the worst performing sector with a YTD return of -14.49%.

The index closed today’s trading at 30,369.97 points, up by 2.29% (680.89 points), while its year to date return stands at -12.37%. The market capitalization of the listed equities appreciated by NGN234 billion to close at NGN10.43 trillion in contrast to the NGN10.20 trillion recorded in the previous trading session. Volume of trades increased to 254 million compared to 201 million recorded in the previous trading session and the Value of trades also increased to NGN3.84 billion from NGN2.36 billion in the previous session. ZENITHBANK, GUARANTY and FBNH were the most actively traded stocks in terms of volume while ZENITHBANK, GUARANTY and NESTLE topped in terms of value. A total number of 41 stocks recorded price appreciation while 12 stocks declined. GUINNESS returned highest for the day, gaining by 10.24% to close at NGN167.77, followed by CONOIL which also gained 10.20% to close at NGN28.41. On the flipside, VANLEER and MANSARD topped the losers table for the day, shedding -4.92% and -4.86% to close at NGN9.86 and NGN2.35 per share respectively.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Trading week ends on a positive note, ASI up by 0.97%

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Despite heavy losses of about 311 billion Naira recorded at the close of the mid-week trading session, the market has closed today on the same positive note in which the trading week began; with the ASI appreciating by 0.97%. After the close of today’s trading session all sectors returned positive performances apart from the oil and gas sector. The Oil and Gas sector was the biggest loser for the day, returning a loss of -2.53% while the Consumer Goods sector returned the best performance today, reporting a gain of 2.05%. In terms of sectors’ year to date performances, all sectors have returned a negative performance. The Consumer goods sector is the worst performing sector with a YTD return of -17.14%.

The index closed today’s trading at 29,689.08 points, up by 0.97% (285.96 points), while its year to date return stands at -14.33%. The market capitalization of the listed equities appreciated by NGN92.20 billion to close at NGN10.20 trillion in contrast to the NGN10.11 trillion recorded in the previous trading session. Volume of trades decreased to 201 million compared to 306 million recorded in the previous trading session and the Value of trades also decreased to NGN2.36 billion from NGN3.09billion in the previous session. UBA, FBNH and MTI were the most actively traded stocks in terms of volume while NESTLE, NB and GUARANTY topped in terms of value. A total number of 23 stocks recorded price appreciation while 18 stocks declined. GUINNESS returned highest for the day, gaining by 10.24% to close at NGN152.19, followed by UBA which also gained 8.45% to close at NGN3.85. On the flipside, VONO and FO topped the losers table for the day, shedding -8.16% and -5.00% to close at NGN0.90 and NGN223.25 per share respectively.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Market returns marginal loss, as ASI falls by -0.17%

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Amidst worries around continued profit-taking action by investors and the removal of Nigeria from JP Morgan’s Emerging Bond index, the market closed today with a marginal depreciation of -0.17%. At the close of today’s trading session an almost equal number of stocks appreciated and depreciated, accounting for the marginal loss we see today. It is expected that the market will continue to lose ground as oil prices fall and as the final date to comply with the Treasury Single Account (TSA) draws nearer which will significantly reduce liquidity in the market. After the close of today’s trading session all sectors returned mixed performances. The Banking sector was the biggest loser for the day, returning a gain of -2.19% while the Consumer Goods sector returned the best performance today, reporting a gain of 1.30%. In terms of sectors’ year to date performances, all sectors have returned a negative performance. The Consumer goods sector is the worst performing sector with a YTD return of -18.80%.

The index closed today’s trading at 29,403.12 points, down by -0.17% (50.97 points), while its year to date return stands at -15.16%. The market capitalization of the listed equities depreciated by NGN17.53 billion to close at NGN10.11 trillion in contrast to the NGN10.12 trillion recorded in the previous trading session. Volume of trades decreased to 306 million compared to 459 million recorded in the previous trading session and the Value of trades also decreased to NGN3.09 billion from NGN4.28billion in the previous session. UBA, ZENITHBANK and FBNH were the most actively traded stocks in terms of volume while ZENITHBANK, GUARANTY and WAPCO topped in terms of value. A total number of 23 stocks recorded price appreciation while 25 stocks declined. HONYFLOUR returned highest for the day, gaining by 9.13% to close at NGN2.75, followed by DIAMONBNK which also gained 5.00% to close at NGN3.57. On the flipside, UBA and UBCAP topped the losers table for the day, shedding -13.20% and -9.27% to close at NGN3.55 and NGN1.37 per share respectively.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

NSE MARKET INFO-GUINNESS NIGERIA PLC-TENDER OFFER

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Proposed Tender Offer by Guinness Overseas Limited (‘’Guinness Overseas’’ or the ‘’Offeror’’) for up to 236,176,604 Ordinary Shares of 50 kobo each in Guinness Nigeria Plc. (‘’Guinness’’ or the ‘’Company’’) (the ‘’Transaction’’)

Guinness Nigeria Plc. (‘’Guinness Nigeria’’ or the ‘’Company’’) has notified The Nigerian Stock Exchange that Diageo Plc. (“Diageo”), acting through its wholly owned subsidiary Guinness Overseas Limited (“Guinness Overseas”), has approached the Board of Directors of the Company with an intention to make an offer to increase Diageo’s equity stake in the Company from 54.3% up to a maximum of 70% and to maintain the Company’s listing on The Nigerian Stock Exchange.

If Diageo decides to proceed with the proposed transaction, it is intended that, subject to regulatory approval, Guinness Overseas will launch a partial tender offer at a price not higher than NGN 175 per share in cash, giving all shareholders the opportunity to elect to sell some or all of their shares in the Company.

At the maximum offer price, the proposed offer would represent a premium of 36 per cent to the 30-day volume weighted average share price and 40 per cent to the Company’s closing share price on 8 September 2015.

Guinness Overseas may also seek to acquire shares in the market at a price not higher than the offer price of NGN 175 per share. Diageo would encourage those shareholders that wish to divest their holdings in Guinness Nigeria to make contact with Stanbic-IBTC Stockbrokers Limited.

Please note that today’s announcement is of Guinness Overseas’ intention and does not constitute the announcement of an offer itself and creates no obligation on Guinness Overseas or Diageo to make an offer. Accordingly, we wish to advise Guinness Nigeria’s shareholders that there can be no certainty that any offer will be

made, nor as to the price or terms of any offer that may be made. Further developments will be communicated to shareholders in due course.

The proposed partial tender offer will be subject to requisite regulatory approvals, including those of the Nigerian Stock Exchange and the Securities and Exchange Commission. The formal offer documentation will be posted to shareholders as soon as these approvals are obtained.

ASI plunges -2.98% as investors engage in profit-taking action

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Despite an initial bullish run at the start of this trading week, the market has seen a deprecation, with the ASI plunging below 30,000 basis points. Investors are taking advantage of the gains they have recently made in the market and are selling off their holdings. Furthermore, with the announcement that JP Morgan have removed Nigeria from their emerging market Bond Index due to a lack of transparency, many believe that this will weigh heavily on the future of investor confidence in the market, especially foreign investors who account for approximately 50% of the total investors in the Nigerian market. After the close of today’s trading session all sectors returned negative performances. The Banking sector was the biggest loser for the day, returning a gain of -3.94%. In terms of sectors year to date performance, all sectors have returned a negative performance. The Consumer goods sector is the worst performing sector with a YTD return of -19.87%.

The index closed today’s trading at 29,454.09 points, down by -2.98% (904.78 points), while its year to date return stands at -15.01%. The market capitalization of the listed equities depreciated by NGN311.14billion to close at NGN10.12 trillion in contrast to the NGN10.43 trillion recorded in the previous trading session. Volume of trades increased to 459 million compared to 229 million recorded in the previous trading session and the Value of trades also increased to NGN4.28 billion from NGN1.99 billion in the previous session. UBA, ACCESS and UBCAP were the most actively traded stocks in terms of volume while ZENITHBANK, GUARANTY and UBA topped in terms of value. A total number of 8 stocks recorded price appreciation while 46 stocks declined. TRANSEXPR returned highest for the day, gaining by 9.01% to close at NGN1.21, followed by FIDSON which also gained 5.00% to close at NGN3.36. On the flipside, OANDO and FIDELITYBK topped the losers table for the day, shedding -8.15% and -5.30% to close at NGN10.93 and NGN1.43 per share respectively.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.

Bullish trend dominates market as ASI appreciates by 1.02%

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The market has shown improved investor participation with more stocks closing each trading session on a positive note, causing a continued appreciation in the All Shares Index (ASI). In our view, the market is being influenced by macros which are associated with the state of the broader economy such as the trends in the global market, and more locally, confidence in the announcement of the FG’s minister’s cabinet. Similar to last week, more stocks have appreciated than depreciated. We believe that investor confidence is growing, and that many investors are taking advantage of the relatively low stock prices. After the close of today’s trading session all sectors returned positive performances. The Banking sector was the biggest gainer for the day, returning a gain of 2.52%. In terms of sectors year to date performance, all sectors have returned a mixed performance. The Industrial goods sector is the best performing sector with a YTD return of 0.57% while the Consumer goods sector is the worst performing sector with a YTD return of -18.17%.

The index closed today’s trading at 30,358.87 points, up by 1.02% (306.58 points), while its year to date return stands at -12.40%. The market capitalization of the listed equities closed at NGN10.43 trillion. Volume of trades totaled to 226 million the Value of trades totaled to NGN1.99 billion. UBA, ACCESS and UBCAP were the most actively traded stocks in terms of volume while ZENITHBANK, GUARANTY and UBA topped in terms of value. A total number of 36 stocks recorded price appreciation while 16 stocks declined. UBCAP returned highest for the day, gaining by 9.72% to close at NGN1.58, followed by ZENITHBANK which also gained 8.84% to close at NGN17.85. On the flipside, CONOIL and CAVERTON topped the losers table for the day, shedding -9.72% and -4.94% to close at NGN27.13 and NGN3.08 per share respectively.

The current market mood and stock prices of most companies present good entry opportunities and we advise investors to take advantage of the relatively low prices of stocks especially for companies who are market leaders in their various sectors of the market. However, we suggest that investments in equities should be focused on long term returns and advise that speculators and short term investors should trade with elevated caution.

We advise investors to trade with caution and maintain long-term investment strategy based on market fundamentals and not sentiments.  More so, diversification across various sectors will help to increase investment returns and minimize market and sector risk.