- The equities market started the week on a positive note as the NSEASI advanced by 1.83% to drive the YtD to -13.29%, even as the volume and value of transactions declined by 22.55% and 34.46% correspondingly. Market Breadth (2.13x) skewed in favour of advancers, as 32 stocks appreciated against 16 stocks that declined.
- UBA topped the gainers’ chart with a price appreciation of 10.24%, to close at NGN4.20. Other outperformers were UBCAP (9.09%), FLOURMILL (5.00%), MANSARD (4.98%) and IKEJAHOTEL (4.96%). Conversely, CAVERTON led the laggards, after recording a price decline of 9.50% to close at NGN3.24. Following closely were ETERNA and HONYFLOUR which declined by 5.00% apiece to close at NGN1.71 and NGN2.47 correspondingly. Other underperformers included UAC-PROP (-4.98%), and LIVESTOCK (-4.71%).
- The NSE sector indices also mirrored the bullish mood of the market, as all the sector indices trended northwards. The NSBNK10 (3.19%) index recorded the largest appreciation. Across African markets, only the Kenyan and Nigerian markets have returned positive while South Africa (-0.60%), Egypt (-1.48%) and Mauritius (-0.12%) all declined.
- We opine that the gain recorded in the market today might be partly due to the attractive corporate action announced last week, especially given that UBA recorded the largest appreciation, and even at the current price still represents a dividend yield of 4.76%.
- However, it would seem that bargain hunting activities were primarily responsible for the direction of market activities today. Hence, we advise that investors should trade with caution, as we do not expect that this bullish mood will be sustained for the rest of the week.
| GAINERS | 34 Stocks Appreciated | |||||
| Ticker | Price | % Price ^ | Yr High | Yr Low | YtD | |
| 1 | UBA | 4.2 | 10.2% | 5 | 3 | -2.3% |
| 2 | UBCAP | 1.44 | 9.1% | 1.73 | 1.14 | -12.2% |
| 3 | FLOURMILL | 23.1 | 5.0% | 39.8 | 22 | -41.1% |
| 4 | MANSARD | 2.53 | 5.0% | 3.11 | 2.19 | -20.9% |
| 5 | IKEJAHOTEL | 3.6 | 5.0% | 4.88 | 2.6 | -2.7% |
| 6 | CONTINSURE | 0.87 | 4.8% | 1.02 | 0.81 | -14.7% |
| 7 | DIAMONDBNK | 3.74 | 4.8% | 5.45 | 2.76 | -33.0% |
| 8 | CUSTODYINS | 4.19 | 4.8% | 4.2 | 3.42 | 15.7% |
| 9 | ETRANZACT | 2.45 | 4.7% | 3.6 | 2.23 | -27.7% |
| 10 | AFRIPRUD | 2.68 | 4.7% | 3.35 | 2.25 | -11.8% |
| LOSERS | 16 Stocks Declined | |||||
| Ticker | Price | % Price ^ | Yr High | Yr Low | YtD | |
| 1 | CAVERTON | 3.24 | -9.5% | 3.99 | 2.81 | -7.2% |
| 2 | ETERNA | 1.71 | -5.0% | 3.05 | 1.67 | -42.6% |
| 3 | HONYFLOUR | 2.47 | -5.0% | 3.46 | 2.27 | -28.6% |
| 4 | UAC-PROP | 7.83 | -5.0% | 11.94 | 7.5 | -17.6% |
| 5 | LIVESTOCK | 1.62 | -4.7% | 2.53 | 1.54 | -28.9% |
| 6 | LEARNAFRCA | 0.91 | -4.2% | 1.51 | 0.91 | -32.6% |
| 7 | AIICO | 0.81 | -3.6% | 1.04 | 0.75 | 0.0% |
| 8 | NAHCO | 4.31 | -3.1% | 6.52 | 4.25 | -13.1% |
| 9 | MAYBAKER | 1.24 | -1.6% | 1.86 | 1.18 | -21.5% |
| 10 | EVANSMED | 0.63 | -1.6% | 2.28 | 0.61 | -72.4% |
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