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Monday, January 8, 2018 /2:00 PM / GTI Research
Market Review for week ended and Month January 5th,
2018
The Nigerian equity market set off the New Year on a laudable note as
most indicators across board closed in the green during the period under
review. The activity in the market was significantly helped by upbeat in
economic data and earnings expectation for the Q4 2017. On economic front, the
December PMI came in at 59.3 index points on Tuesday and it was revealed that
the level of economic activity has sustained upbeat trend for the ninth month
in a row.
Week-on-week (WoW), the All-Share Index (ASI) gained a total of 680.07
absolute points, representing a growth of 1.78% to close at 38,923.26 points.
This helped to set the market on a stellar growth pathway with year-to-date
(Ytd) return at 1.78%.
A total turnover of 2.42 billion shares worth N18.81 billion in 20,874
deals were traded this week by investors on the floor of the Exchange in
contrast to a total of 1.31 billion shares valued at N12.64 billion that
exchanged hands last week in 9,016 deals.
The Financial Services Industry (measured by volume) led the activity
chart with 1.68 billion shares valued at N8.73 billion traded in 13,033 deals;
thus contributing 69.39% and 46.43% to the total equity turnover volume and
value respectively. The Conglomerates Industry followed with 536.92 million
shares worth N1.26 billion in 1,288 deals. Consumer Goods Industry came a
distant third with a turnover of 100.46 million shares worth N6.95 billion in
3,426 deals.
Fifty-five (55) equities appreciated in price during the period, higher
than thirty-two (32) of the previous week. Twelve (12) equities depreciated in
price, lower than twenty-five (25) recorded in the previous week, while one
hundred and five (105) equities remained unchanged lower than one hundred and
fifteen (115) equities recorded in the preceding week.
Outlook for the Week Ending January 12th, 2018
This week, we expect a continuation of volatility witnessed thus far in
the year with periodic pull back as profit is booked. The market is also
expected to be impacted by existing positive economic data which has continue
to resonate investors’ confidence (especially, local portfolio and 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.
GTI TOP-5 WEEKLY STOCK PICKS NOTIFICATION
Kindly
note that GTI Top-5 Stock Picks have cumulatively achieved about 95% of
indicated targets in recent past. Due to this premise, we are currently
reviewing recent results of companies under our radar in order to come up with
investment position(s) going forward. Hopefully, it will return on this
publication as soon as we are done.
In the
meantime, the following stocks listed below falls into our watch list this
week.
Access Bank, UCAP, Fidson, Flour Mills, DangCem, UBA, Lafarge Africa and
Zenith Bank.
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