Nigerian stocks today (5/3/2015 Price List)

The market’s recent rally came to a halt today, as the index recorded its first loss of the week, and for five consecutive trading days. This decline of 0.82% brings the YtD return of the NSEASI to -12.38%. Volume and value of transactions declined by 15.95% and 0.67% accordingly, with FBNH leading the pack with respect to both volume and value traded.

The sector indices showed the MER-OILG index was the top performer in the day’s trading with a return of 0.86%, joined by the MERI-AGRI index which recorded a gain of 0.22%. On the flipside, the MERI-CONG index recorded the highest loss, paring by 3.53%. The MERI-BNK, MERI-CMG indices also recorded declines of 1.77%, 1.62% respectively.

OANDO was today’s top gainer, returning +5.00%, while the decliners chart was led by JBERGER which recorded a loss of 9.72% as the decliners (30) overpowered the advancers (16) to peg the market breadth at 0.53x.

Although the market has been on a bull run in recent times, we are constrained to think that this might not persist once earnings season is in full swing, as we are expectant of less than impressive numbers. Also, due to the recent rally in many stock prices, we also expect profit-taking activities in the lead up to the aforementioned earnings releases, which would likely depress market returns. |Meristem