Market Closes June 2018 in Green; Records 0.09 Gain in H1 2018


Friday, June 29, 2018/ 05:20 PM / Proshare Research 


Nigerian Stock Market closes the month of June 2018 in green with +0.46% gain MoM and +0.09% YTD gains respectively. 

Similarly, majority of the NSE sector indices closed the month in green except for the Oil and Gas and NSE PREMIUM indices which recorded -6.64% and -3.00% losses respectively.

Despite the +0.09% marginal gain recorded in H1 2018, market closed most trading days in the first half of the year in negative territories and market analysts are of the view that the market will close H2 2018 as well as they year in green.

Bunmi Asaolu,  Head, Equities - FBNQuest Capital said, “Our view is that the macro outlook is still supportive, with oil prices remaining firm, and that this should offset potential uncertainty stemming from political risk going into H2 2018. Although we do not expect consensus earnings estimates to see significant upwards revisions through the rest of the year, valuations are yet to fully capture earnings outlook expectations, especially among the tier 1 banks. As such, we expect the index to recover lost ground, with a minimum of 10% gain by the end of the year.”

Table1: NSEASI and Sector Indices Performance Review

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JAPAULOIL topped the list of gainers in June 2018 with +71.43% gain recorded while CILEASING and NEM followed closely with +55.64% and 25.00% respectively.

Among the top ten gainers, financial services sector dominated the list with three (3) stocks while both Services and Consumer goods sectors have two (2) representations. Oil and Gas, Agriculture and Construction/Real Estate have one (1) representation each.

Table 2: Top Ten Gainers in June 2018

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topped the list of losers in June 2018 with -13.64% loss recorded while SEPLAT  and HMARKINS followed closely with -12.54% and -12.12% loss respectively.

Among the top ten losers, Industrial good sector dominated the list with three (3) stocks while healthcare, oil and gas, have two (2). Financial services, consumer goods and conglomerates have one (1) representation each.

Table3: Top Ten Losers in June 2018

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Table 4: All Stocks

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