Market Review with Stock Screener for guide

Proshare

Monday, June 01, 2015 3:43 PM /Invest Data Consulting

The nation’s stock market recorded a slightly positive outing to close last week on somewhat improved appetite by bargain hunters, fund managers and investors. This was reflected on the volume traded for short trading sessions due to public holiday to mark this year’s Democracy day and at the same time the transition of power to a new government.  The Composite Index of the market, NSEASI closed at 34,310.37 from an opening figure of 34,272.09 with a different of 38.28 basis point representing 0.11 percent growth, while market capitalization appreciated 0.12 percent to close at N11.67 trillion. Consequently, the negative year to date performance of the market dropped to 1.00 percent.

It was a clear dominance of market activities by the bulls, holding sway in 3 out of this week's 4 trading days as market breadth closed positive in all but the first trading days. Generally, market's sentiment improved this week as investors initiated gradual entry into the market - shifting their sideline positions. The Index opened and remains within the 34,000 threshold - a range it has remained in the last 31 trading days. In the same positive trend, the Market capitalization added about N0.200 billion to close at N11.67 billion this week largely driven by supplementary listings of Champions Breweries Plc and Pharmadeko Plc. The sectoral indices closed in different directions as NSEINDUSTRY, NSEOILGAS, NSEINS and NSEASEM recorded positive outing while NSECNSMRGDS, NSEBNK and NSELOTUISLM together with NSE30 and NSE50 closed red.  

Transaction level by volume in this week's 4 trading days although declined compared to the previous weeks' level but the value of trades improved. The volume dropped 39 percent while value of trades recorded 38 percent growth respectively. At the close of trading activities this week, 1.78 billion shares valued at N22.07 billion were exchanged in a lower number of deals of 17,018 compared with 2.94 billion shares valued at N16.04 billion exchanged in 20,846 deals recorded in the previous trading week.

Despite the fear of negative impact of fuel scarcity on the investors positioning in the market this, the NSEASI closed strong on "last minute" rally in 3 out of 4 trading day. The rally was largely driven by traders and smart money that were accumulating undervalued stocks in anticipation of mark-up after transition ceremony as the major hurdle befalling the market has come and gone.

During the week the number of advancers were more of the decliners in the ratio of 38: 31while the unchanged equities were 124.

Market Outlook
We expect the market to positively embrace the incoming government as the smooth transition has impacted on the nation’s democracy to drive economic growth and development, going forward. The economic reform policies of this government will sharp the market going forward especially in the second half of the year. As the market expect the monetary and fiscal policy to work together to drive the nation economy. 


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