Monday, March 21, 2016 3:58PM / GTI Research
NSE Index Movement
The NSE All-Share Index and Market Capitalization depreciated by 1.13% to close the week at 25,694.79 and N8.839 trillion respectively. Similarly, all other Indices finished lower during the week, with the exception of the NSE Premium Index and the NSE Consumer Goods Index that increased by 0.89%, and 0.78% respectively. (See summary of Index movements in the table below)
Zenith Bank retains the top spot this week. The top tier lender managed a 7.24% growth in gross earnings in FY 2015 and a dividend declaration of N1.80 for the fiscal year.
GTBank climbs to the second spot this week. The bank report an 8.4% growth in gross earnings for the fiscal year 2015 and paid a dividend of N1.77.
UBA drops one more step to the third spot on the table this week. The bank was a standout performer in the sector for FY 2015, reporting an impressive 9.84% topline growth and a dividend payment of N0.60.
International Breweries retains the fourth spot this week. 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.
Dangote Cement brings up the rear on the GTI 5 for this week after appreciating by 24% weeks ago. The company controls about 80% of the cement market in Nigeria and has made major in routes into other African countries.
Lafarge Africa, CCNN, NB, Julius Berger
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