The NSE ASI closed in green WoW by 1.11% after closing in bullish form in 3 of
the 5 trading sessions during the week. At 39,156.28, the equities market’s Year-to-Date return is -2.77% and the market capitalisation is N20.41 trillion.
Market breadth (a measure of investor sentiment) weakened last week, declining
from 1.00x to 0.97x illustrated by the advance of 35 stocks against 36 that
declined. CUTIX and OKOMUOIL topped the market gainers with 23.56% and
20.73% WoW respectively, while CWG and FTNCOCOA topped the market losers
with declines of 26.14% and 15.38% WoW respectively.
The activity level was mixed WoW as the trade volume declined by 2.22% while
total value of stocks improved by 34.38% respectively. A total turnover of 1.058
billion shares worth N12.831bn in 17,854 deals were traded during the week by
investors on the floor of the Exchange. Trading in the top three equities by volume
were ZENITHBANK, STERLNBANK and FIDELITYBK. They accounted for 261.344
million shares worth N2.712 billion in 2,862 deals; contributing 24.70% and
21.13% to the total equity turnover volume and value respectively.
Outlook for the week
We expect bullish momentum to persist in the coming week as the equities market
still presents decent opportunities for investors chasing positive real return on