The Nigerian equity market closed trading activities for last week positive, as investors’ bullish sentiment was dominant in four out of the five trading days. This can be attributed to investors’ buying sentiment in all the major market sectors, excluding the Banking sector that dipped by 0.25% w/w. Investors’ wealth grew by N396.13billion last week, as a total of 31 stocks appreciated last week lower than 37 stocks the previous week. Furthermore, the Market Indicators NGX-ASI advanced by 1.51% w/w to close for the week at 48,881.93 absolute points compared to 48,154.65 absolute points the previous week. While the Market Capitalization also increased by 1.51% w/w, to close at ₦26.62 trillion as against ₦26.23 trillion the previous week.
The uptrend was influenced by gains recorded in some medium and large capitalized stocks, amongst which are; BUACEMENT (+19.09%), ROYALEX (+12.50%), ETI (+11.44%), GUINNESS (+10.00%), PRESTIGE (+9.52%), ETERNA (+8.78%), LINKASSURE (+7.50%), PRESCO (+6.64%), AFRIPRUD (+5.66%), FCMB (+5.15%), MANSARD (+4.74%), HONYFLOUR(+4.27%), RTBRISCOE(+3.70%), SUNUASSUR(+3.70%), FTNCOCOA(+3.33%), NGXGRP(+2.30%), NESTLE(+1.67%), UBA(+1.37%), LASACO(+1.12%), LIVESTOCK(+0.91%), NEIMETH(+0.72%) and OANDO(+0.51%).
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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