Core Securities Limited

Nigerian Stock market came back from the holidays to post a positive result at the end of today’s trading, printing the All Share Index at 25,221.23 points after a 0.07% appreciation.

Equities investors on the local bourse gained N8.59 billion as market capitalization appreciated by the same margin to close at N13.13 trillion.

Market turnover finished stronger, as total volume and value of trades increased significantly by 124.06% and 94.05% respectively, to 339.75 million units and N3.92 billion.

FBNH was the most traded stock by volume at 120.86 million units, while GUARANTY was the most traded stock by value at N1.54 billion.

Market sentiment, as measured by market breadth, was positive as 33 tickers gained, compared to 11 losers. NB (Nigerian Breweries) recorded the highest price gain of 10% to close at N43.45 per share.

Performance across sectors closed mixed, as two out of the five indices under our coverage posted gains. Appreciation in tier one banking stocks STANBIC (+9.98%), ACCESS (+9.70%) and FBNH (+9.60%) spurred the lenders by +5.36%, followed by the Consumer Goods sector +3.09% on sustained gain in NB (+10.00%) and GUINESS (+817%).

Conversely, price decline in NAHCO (-3.33%) dragged the Industrial Index lower, while sell-offs in REGALINS (-8.70%); WAPIC (-6.06%) and ARDOVA (-10.00%) weighed down the Insurance, and  Oil & Gas indices.

NB up 10.00% to close at N43.45; STANBIC up 9.98% to close at N35.8; DANGSUGAR up 9.37% to close at N14; GUINNESS up 8.17% to close at N19.2; and DANGCEM up 2.46% to close at N137.3.

Top losers

ARDOVA down 10.00% to close at N14.4; TRANSCORP down 6.49% to close at N0.72; CAVERTON down 5.36% to close at N2.47; NAHCO down 3.33% to close at N2.32; and AFRIPRUD down 1.18% to close at N4.2.

Outlook

Buying interest in Nigerian Breweries, Guiness and Tier 1 banking stocks caused the Nigerian bourse to finish the first trading of the week on a positive note. Nairametrics envisages cautious buying, as market price swings are expected in the short term.

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