Monday, February 22, 2016 11:38AM / GTI Research
NSE Weekly Market Performance
The NSE All-Share Index and Market Capitalization depreciated by 1.04% to close the week at 24,432.51 and N8.403 trillion respectively. Similarly, all other Indices finished lower during the week, with the exception of the NSE Main Board Index, NSE Banking Index, NSE Consumer Goods Index and NSE Oil and Gas index that appreciated by 0.95%, 0.04%, 0.21% and 3.30% respectively, while the NSE ASeM index closed flat. (See summary of Index movements in the table below):
UBA claims the top spot on the table this week. The bank has shown some consistency since the beginning of this year. We were particularly concerned about the bank’s capital adequacy in the past, but are impressed by the progressive growth in the bank’s shareholders fund since the beginning of 2015
Zenith Bank climbs to the second spot this week. The top tier lender has shed some value following the bearish sentiments that has prevailed over the Nigerian capital
Dangote Cement climbs to the third spot on the GTI 5 for this week, after strong gains recorded last week. The company controls about 80% of the cement market in Nigeria and has made major in routes into other African countries
GT Bank claims the fourth spot this week. The bearish trend in the market has opened up a good entry window for the stock.
International Breweries makes its debut on the GTI 5 this week and brings up the rear. The brewer posted a strong Q3 2016 report in a sector where the bigger players recorded decline in revenue. We like the growth potentials of the company, which is the major attraction.
Lafarge Africa, CCNN, NB
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