Morning Outlook – 14.11.17

Morning Outlook – 14.11.17
November 14 12:08 2017 Print This Article

Stock Watch

Equities Begin Week On Bullish Note; ASI At 37,312.28

The equity market ended the previous session on a high note as the NSE ASI appreciated by 0.52% for the week to close at 37,312.28. Market Cap also appreciated 0.52% to close at N12.91 trillion. Market turnover was N30.20 billion; $98.13 million. The best performers included FO (8.78%), OKOMUOIL (4.60%), NEM (4.44%), DANGCEM (3.93%) and AIICO (3.77%). The worst performers included CILEASING (-4.79%), CAVERTON (-4.76%), VITAFOAM (-4.75%), HONYFLOUR (-4.72%) and LEARNAFRCA (-4.63%). The NSE30 index depreciated 0.05%, the banking index depreciated 1.55%, the consumer goods index depreciated 1.29%, the oil & gas index appreciated 0.88% and the insurance index depreciated 0.35%. Overseas, American stocks finished higher driven by news about corporate deal making, while European equities closed lower, with finance stocks recording the highest declines as investors monitored earnings and the political events in the UK.

STOCKS TO WATCH:

AFRIPRUD (N3.78): Declined 1.0% and closed at N3.78. Volumes decreased to 0.784m from 1.515m traded shares in the previous session; VWAP for the session was N3.83. Afriprud has gained steadily over the last few sessions, however, in yesterday’s session, though activity was minimal, we observed some profit-taking bringing the stock to close down at N3.78.We expect buying sentiments to push the price back up in today’s session as there is still interest in the stock.

DIAMONDBNK (N1.15): Declined 0.9% and closed at N1.15. Volumes decreased to 14.285m from 14.404m traded shares in the previous session; VWAP for the session was N1.15. Diamond Bank logged steady gains last week driven by news of the lender divesting its West-African subsidiaries and putting all its resources in its Nigerian operations. The lender declined yesterday for the second consecutive session as investors booked profit from the rally. We expect the price to retrace further in today’s session.

 

 

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