Tuesday, November 07, 2017 10:16AM /GTI
Market Review for week ended November 3rd, 2017
The Nigerian equity market posted a positive performance in the week under review to reverse previous two weeks bearish run. The local bourse appreciated by 1.31% week-on-week (wow) at the close of bell on Friday to close at 36,939.59 in contrast to last week's close of 36,462.26.
Trading activities on the Exchange was boosted by positive Q3 ’17 earnings from companies who made frantic effort to beat the deadline on earnings reporting season which officially came to a close in the week. Many of the results beat market expectations and subsequently triggered handful of demand from discerning investors.
Other factors that boosted the market’s space was the news on retention of Nigeria by MSCI (Morgan Stanley Capital International) on its Frontier Index, Purchasing Managers Index (PMI) October reading of 55.0 points released by the Central Bank of Nigeria (CBN) and strong commodity prices, particularly oil, Nigeria’s mainstay and major income earner, thereby boosting government revenue and the nation’s external reserves.
A total turnover of 1.36 billion shares worth N17.71 billion in 21,891 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.39 billion shares valued at N16.40 billion that exchanged hands last week in 19,195 deals. Thirty-seven (37) equities appreciated in price during the week, higher than thirty-three (33) of the previous week.
Twenty-nine (29) equities depreciated in price, lower than thirty-two (32) equities of the previous week, while one hundred and five (105) equities remained unchanged lower than one hundred and six (106) equities recorded in the preceding week.
Outlook for the new week ending November 10th, 2017
week, the market volatility will continue as investors re-assesses and
re-balance their portfolio positions on the strength of recent earnings, ahead
of Octobers’ Inflation expectation, the GDP Q3 data and year-end sentiments. We
are confident that the week will extend bullish run into second week.
Unilever, UCAP, Fidson, Flour Mills, DangCem.
2. Afrinvest Stock Recommendation for the Week - 301017
3. Cordros Weekly Stock Recommendation- 231017
4. Afrinvest Stock Recommendation for the Week - 231017
5. Cordros Weekly Stock Recommendation- 161017
6. Afrinvest Stock Recommendation for the Week - 161017
7. Afrinvest Stock Recommendation for the Week - 091017
8. Afrinvest Stock Recommendation for the Week - 250917
9. Afrinvest Stock Recommendation for the Week – 180917
10. Afrinvest Stock Recommendation for the Week - 110917
11. Afrinvest Stock Recommendation for the Week 140817
12. Afrinvest Stock Recommendation for the Week - 070817
13. Afrinvest Stock Recommendation for the Week - 310717