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, giving it five-star performance in a row. This was buoyed by investors’ increased appetite in all major market sectors, excluding the Consumer goods sector which depreciated by 0.20% w/w. Investors’ wealth grew by N236.59billion last week, as a total of 32 stocks appreciated last week higher than 31 stocks the previous week. Furthermore, the Market Indicators NGX-ASI advanced by 0.89% w/w to close for the week at 49,316.29 absolute points compared to 48,881.93 absolute points the previous week. While the Market Capitalization also increased by 0.89% w/w, to close at ₦26.86 trillion as against ₦26.62 trillion the previous week.
The uptrend was influenced by gains recorded in some medium and large capitalized stocks, amongst which are; LEARNAFRCA (+28.48%), THOMASWY(+18.75%), CORNERST(+13.04%), WAPIC(+10.81%), PZ(+9.73%), REDSTAREX (+9.71%), ARDOVA(+9.51%), CHAMPION(+9.33%), ZENITHBANK(+9.05%), UPDC(+7.61%), MBENEFIT(+7.41%), LIVESTOCK(+7.21%), SUNASSUR(+7.14%), BUACEMENT(+6.60%), CADBURY(+4.67%), ROYALEX(+3.70%), NEIMETH(+3.57%), RTBRISCOE(+3.57%), WAPCO(+2.98%), FIDELITYBANK(+2.41%), UNITYBANK(+2.04%), AIICO(+1.85%), FIDSON(+1.70%), WEMABANK(+1.23%), FBNH(+0.93%) and STANBIC(+0.82%).
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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