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Monday,
January 29, 2018 /1:45 PM / GTI Capital
Market Review for week ended January
26th, 2018
The week came along with strong
volatility and created buying opportunities as witnessed on Friday, leading to
a positive close of 0.56%. Week-on-week (WoW), the All-Share Index (ASI) shed a
total of 1,319.07 absolute points, representing a decline of 2.93% to close at
43,773.76 points. This lead to a dip in the year-to date’s (Ytd) returns at
14.46%.
A total turnover of 7.16 billion
shares worth N42.55 billion in 39,037 deals were traded in the period by
investors on the floor of the Exchange in contrast to a total of 5.01 billion
shares valued at N45.82 billion that exchanged hands in the previous week in 44,569
deals.
Trading in the three equities,
namely; Transcorp Plc, FCMB Plc and Skye Bank Plc (measured by volume)
accounted for 4.79 billion shares worth N11.34 billion in 5,216 deals,
contributing 66.86% and 26.66% to the total equity turnover volume and value
respectively. Thirty (30) equities appreciated in price during the period,
lower than forty (40) recorded in the previous week. Forty-four (44) equities
depreciated in price, higher than thirty-two (32) of the previous week, while
ninety-eight (98) equities remained unchanged lower than one hundred (100)
equities recorded in the preceding week.
Outlook for the new week ending February
2nd, 2018
As such, we expect to see some
element of profit taking amidst repositioning activity towards full year 2017
earnings season expected to kick off in earnest next week. The market is also
expected to be impacted by existing positive economic data which has continued
to resonate investors’ confidence (especially, foreign investors).
At this point, we strongly advise
investors to take a keen interest on firms’ fundamentals before taking
investment position on such firms. We equally advise on taking a medium-long term
view of the market.
1.
Afrinvest Stock
Recommendation for the Week - 220118
2.
QFAc Pick of the
Week – United Bank for Africa Plc
3.
GTI Top-5 Weekly
Stock Picks - 080118
4.
GTI Top-5 Weekly
Stock Picks - 020118
5.
Cordros Weekly
Stock Recommendation- 181217
6.
Afrinvest Stock
Recommendation for the Week - 181217
7.
Afrinvest Stock
Recommendation for the Week - 111217