The Nigerian equity market closed trading activities for last week in green, as investors’ positive sentiment was dominant in all the five trading sessions. This was attributed to investors’ increased appetite in all major market sectors as Investors’ wealth advanced by N212.31billion last week and a total of 41 stocks appreciated last week higher than 32 stocks the previous week. Furthermore, the Market Indicators NGX-ASI advanced by 0.79% w/w to close for the week at 49,706.09 absolute points compared to 49,316.29 absolute points the previous week. While the Market Capitalization also increased by 0.79% w/w, to close at ₦27.07 trillion as against ₦26.86 trillion the previous week.
The uptrend was influenced by gains recorded in some medium and large capitalized stocks, amongst which are; THOMASWY (+42.11%), ROYALEX (+16.67%), ARDOVA (+12.57%), CUSTODIAN(+11.21%), JBERGER(+9.91%), FIDELITYBK (+9.41%), GEREGU(+8.96%), HONYFLOUR(+8.96%), STANBIC(+8.60%), FBNH(+8.26%), GTCO(+7.42%), MANSARD(+7.10%), AFRIPRUD(+6.36%), WAPCO(+4.45%), STERLNBK(+3.68%), NGXGRP(+3.31%), ETERNA(+2.97%), FCMB(+2.94%), UBA(+2.74%), ACCESSCORP(+2.37%), ZENITHBK(+1.87%), CHIPLC(+1.69%), VITAFOAM(+1.16 %), UBN(+0.79%) and CUTIX(+0.50%).
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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