Nigerian Equity Market

The performance of the Nigerian Equity Market returned bearish last week with the index (NSE ASI) down by WTD to close at an 0.37% index level of 36,499.67 while market capitalization rose by to 0.32% close at N13.32 trillion.

The increase in Market Cap. can be attributed to listing by way of introduction of 1.612 billion shares of Notore Chemical Industries Plc at a market price of N62.50 per share during the week.

The sectoral performance was negative as bearish sentiments were witnessed in all sectors with the exception of Banking and Oil & Gas index that rose by respectively. The Consumer Goods 0.83% 6.76% and sector recorded the highest decline amongst NSE indices with the NSE Consumer Goods Index down by WTD, owing to significant price 1.01% depreciation in INTBREW (-17.57%) and DANGSUGAR (-3.03%).

The market activities were characterised by profit taking on 3 out of 5 trading sessions last week despite good earnings scorecard of some companies that released their financials during the week.

In the global space, equities market witnessed a mixed sentiment last week as China CSI 300 fell by 5.68% to lose its position as second largest stock market while NASDAQ grew by 0.96% as Apple (AAPL) reached its $1 trillion Market Cap. during the week.



Stock Watch

Over the last five trading sessions:

SEPLAT (Seplat Petroleum Dev. Company) rose by 13.60% to close at N710.00.

Recommendation: We place a hold rating on this stock.


FBNH (First Bank of Nigeria Holdings) remained unchanged to close at N10.00.

Recommendation: We place a buy rating on this stock.


ACCESS (Access Bank) fell by 0.50% to close at N10.00.

Recommendation: We maintain a buy rating on this stock.

Contact Anchoria Asset Management Limited for more information


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.