The Nigerian equity market closed trading activities for last week in green, although investors’ bullish sentiment was dominant in two out of the five trading days. The market positive performance for last week was due to investors’ increased buying interest in some blue-chip stocks such as DANGCEM, ACCESSCORP, BUACEMENT and others, however all the sectors declined with the exception of the banking sector, which grew by 5.35%. Investors’ wealth increased by N194.99 billion last week, as 20 stocks appreciated last week lower than 29 stocks the previous week.
Furthermore, the Market Indicators NGX-ASI grew by 0.81% w/w to close for the week at 44,269.18 absolute points compared to 43,912.64 absolute points the previous week. While the Market Capitalization also increased by 0.81% w/w, to close at ₦24.11 trillion as against ₦23.92 trillion the previous week.
The uptrend was influenced by gains recorded in some medium and large capitalized stocks, amongst which are; FTNCOCOA(+13.33%), NAHCO(+10.47%), DANGCEM(+8.84%), COURTVILLE(+8.70%), REGALINS(+8.33%), NEM(+6.67%), TRANSEXP(+6.67%), CHAMPION(+4.55%), GEREGU(+4.35%), LASACO(+3.57%), HONYFLOUR(+3.29%), ACCESSCORP(+3.25%), BUACEMENT(+2.86%), FCMB(+2.41%), NGXGROUP(+2.19%), CUTIX(+1.99%), FBNH(+1.02 %), TRANSCORP(+0.95%), UACN(+0.56%) and PZ(+0.54%).
BUY: This means the upside potential of the stock over the next 12 months is significantly high when the current price is compared to our fair value. Hence, investors may take positions in these stocks.
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