The Nigerian equity market closed trading activities last week positive, although investors positive sentiment was only dominant in four of the five trading days.
The market positive performance for last week was due to investors’ increased appetite for bellwether stocks like GUINNESS, CADBURY, MTNN and others, all sectors’ indices finished lower with exception to NGX Insurance, NGX Consumer Goods, NGX Oil and Gas, NGX Industrial Goods appreciated by 1.18%, 0.67%, 0.91%, 0.06% Respectively.
As Investors’ wealth dropped by N386.27billion last week and a total of 36 equities appreciated last week, higher than 24 equities in the previous week. 27 equities depreciated and 94 equities remained unchanged.
Furthermore, the Market Indicators NGX-ASI dropped by 0.96 % w/w to close for the week at 53,804.46 absolute points compared to 54,327.30 absolute points the previous week. While the Market Capitalization also decreased by 0.95% w/w, to close at ₦29.31 trillion as against ₦29,59 trillion the previous week.
The uptrend was influenced by gains recorded in some medium and large capitalized stocks, amongst which are;
The uptrend was influenced by gains recorded in some medium and large capitalized stocks, amongst which are; TRIPPLEG (+45.26%), LIVINGTRUST(+16.16%), CHAMS(+16.00%), MRS(+8.24%), LINKASSURE(+7.14%), GUINESS(+7.14%), GLAXSOSMITH(+7.03%), GREGGU(+6.82%), CADBURY (+4.80%), JAIZBANK(+3.37%), PZ(+2.50%), MTNN(+1.49%), NB(+1.23%), UNILEVER(+1.15%, WAPCO(+0.98%), and DANGSUGAR(+0.59%).
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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