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GTI Top-5 Weekly Stock Picks -211117

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Tuesday, November 21, 2017 9:35AM /GTI Research

Market Review for week ended November 17th, 2017

Activity on the Nigerian Stock Exchange (NSE) in the week under review traded on a high volatility as investors and traders reacted intermittently to mixed data both from within and outside the economic space. The market opened the week with a marginal growth of 0.52% boosted by block transaction on Dangote Cement.

 

Apprehension grew in next two sessions as market feed on MSCI earlier report on downgrade and removal of Nigeria firms from its indexes with a dip of 0.96% and 0.91% on Tuesday and Wednesday respectively. It took the positive sentiments on inflation data late on Wednesday to restore confidence in the market on Thursday and Friday. Week-on-week (wow), the market shed 416.7 absolute points, representing a decline of 1.12% to close of 36,703.58.

 

Recall that Moody has in her recent review downgraded Nigerian Sovereign rating and some commercial banks amidst slower than expected progress in addressing structural challenges, excessive over-dependence of oil receipt and bloating non-performing loans of deposit money banks (DMBs).

 

A total turnover of 2.80 billion shares worth N54.78 billion in 17,792 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.32 billion shares valued at N13.78 billion that exchanged hands previous week in 19,169 deals.

 

Twenty (20) equities appreciated in price during the week, lower than thirty (30) of the previous week. Forty-three (43) equities depreciated in price, higher than twenty-nine (29) equities of the previous week, while one hundred and eight (108) equities remained unchanged lower than one hundred and twelve (112) equities recorded in the preceding week.  

Proshare Nigeria Pvt. Ltd.

Outlook for the new week ending November 24th, 2017

This week, the market volatility is expected to continue as investors react to Q3 GDP data scheduled for release by the NBS on Monday and the outcome of MPC two-day meeting on Tuesday. The MPC committee is expected to brainstorm on the recent happening in the Nigerian economy space, especially, the downgrade of the Nigeria Sovereign and its financial institutions amidst all other positive economic data.

 

We equally expect fund managers to take advantage of current exigencies for repositioning and rebalancing their portfolios ahead of financial year (FY 2017) accounting season. By and large, we expect the market to trade in the mixed zone.    

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

Watch List 

Unilever, UCAP, Fidson, Flour Mills, DangCem.

 

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