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Monday, Nov
27, 2017 11:53AM/ GTI Research
Market
Review for week ended November 24th, 2017
Equity
market transactions on the floor of the Nigerian Stock Exchange (NSE) in the
week under review traded on a stronger than expected positive note as investors
and traders reacted to positive economic data within the investment space. The
market opened the week on Monday with a marginal growth of 0.24% as the news of
Q3 GDP data filtered in.
There
was marginal correction on Tuesday in reaction to MPC decision to hold status
quo on all basic considerations in its November’s meeting. The positive
sentiments on earlier inflation data, GDP and success recorded on Eurobond
roadshow in London and New York dominated the market from Wednesday through
Friday. Week-on-week (wow), the All-Share Index gained 662.33 absolute points,
representing a growth of 1.80% to close of 37,365.91, thereby clearing the
prior week decline of 1.12%.
The
Market Capitalisation grew by 1.84% to close at N13.01 trillion from the
opening value of N12.77 trillion. The Year-to-date (Ytd) returns now stands at
39.04%. A total turnover of 2.18 billion shares worth N22.80 billion in 17,019
deals were traded in the week by investors in contrast to a total of 2.80
billion shares valued at N54.776 billion that exchanged hands previous week in 17,792
deals.
The
Financial Services Industry led the activity chart with 1.76 billion shares
valued at N11.57 billion traded in 8,730 deals; thus contributing 80.44% and
50.76% to the total equity turnover volume and value respectively. The Consumer
Goods Industry followed with 178.15 million shares worth N8.66 billion in 4,457
deals.
Thirty-six
(36) equities appreciated in price during the week, higher than twenty (20)
recorded in the previous week. Twenty-four (24) equities depreciated in price,
lower than forty-three (43) in the previous week, while one hundred and eleven
(111) equities remained unchanged higher …Financial Possibilities TOP-5 STOCK
PICKS GTI Research GTI Research than one hundred and eight (108) equities
recorded in the preceding week.
Outlook
for the new week ending November 24th, 2017
This
week, we expect a level of profit taking to dictate activity on the Floor of
the Exchange considering that the month of November will be wound up. This will
give a number of portfolio managers, as well as traders an ample time to
re-assess and rebalance their portfolio holdings. The recent positive economic
data are equally expected to dictate activity direction going forward.
Major market outlook will be the OPEC and Non-OPEC meeting holding in Vienna, Austria where issue bothering on possible extension of existing supply cut on Crude Oil would be discussed. By and large, we expect continuation of volatility on main trading indicators.
Watch List
Unilever,
UCAP, Fidson, Flour Mills, DangCem.
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