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Monday, February 26, 2018 /12:35 PM / GTI Capital 

Market Review for week ended February 23rd, 2018

The Nigerian equity market in the week under review closed in the south and extended bearish run to the third week in a row. The market struggled to wriggle itself away from the bear, but it was overwhelmed by the magnitude of loss witnessed on Monday (-1.53%). The rest of the week (Tuesday – Friday) had positive returns which led to the whittle-down of Monday’s loss to 0.16%. Note that activity was mixed with strong intra-day’s volatility all through the week. 

Week-on-week (w/w), the All-Share Index (ASI) shed a total of 87.94 absolute points, representing a decline of 0.16% to close at 42,570.89 points. The year-to-date’s (Ytd) return now stands at 11.32%.  

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A turnover of 2.02 billion shares worth N21.74 billion in 25,496 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 2.94 billion shares valued at N27.92 billion that exchanged hands last week in 28,567 deals. 

Trading in the three equities namely; FBN Holdings Plc, Fidelity Bank Plc and Skye Bank Plc accounted for 567.82 million shares worth N3.46 billion in 4,891 deals, contributing 28.14% 41,000.00 41,500.00 42,000.00 42,500.00 43,000.00 NSE-ASI Two Week's Movement NSE-ASI % Change …Financial Possibilities TOP-5 STOCK PICKS GTI Research GTI Research and 15.90% to the total equity turnover volume and value respectively.
 

Twenty-three (23) equities appreciated in price during the period, lower than thirty (30) of the previous week. Fifty-four (54) equities depreciated in price, higher than forty-eight (48) equities of the previous week, while ninety-five (95) equities remained unchanged higher than ninety-four (94) equities recorded in the preceding week.

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Outlook for the new week ending March 2nd, 2018 
We expect volatility to continue in the market this week as the expectation for 2017 earnings’ season enters top gear. We equally expect lower-lows in handful of equities as fund and portfolio managers’ re-assesses their trading positions in line with end of a month accounts balancing. By and large, we expect a soft close this week. 

At this point, we strongly advise investors to take a keen interest on firms’ fundamentals before taking an investment position on such firms. We equally advise on taking a medium-long term view of the market.
 

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

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