Trading Week Ends Positive; ASI Edges Up By 0.49% WoW

Trading Week Ends Positive; ASI Edges Up By 0.49% WoW
November 13 15:02 2017 Print This Article

The equity market ended the previous trading week on a high note note as the NSE ASI appreciated by 0.49% for the week to close at 37,120.28. Market Cap also appreciated 0.49% to close at N12.85 trillion. Market turnover was N13.78 billion; $13.10 million. The best performers included CAVERTON (30.23%), CADBURY (22.06%), NAHCO (12.26%), FO (10.25%) and UPL (9.65%). The worst performers included CHAMPION (-14.34%), LINKASSURE (-12.82%), LAWUNION (-9.86%), MORISON (-5.00%) and NEIMETH (-4.84%). The NSE30 index appreciated 0.40%, the banking index appreciated 0.50%, the consumer goods index depreciated 0.07%, the oil & gas index appreciated 0.83% and the insurance index depreciated 1.09%. Overseas, American stocks ended the trading week negative driven by the decline in tech stocks, while European equities finished the week on a low as disappointing corporate earnings weighed on investors sentiment.

STOCKS TO WATCH:

GUARANTY (N43.00): Gained 1.2% and closed at N43.00. Volumes decreased to 7.125m from 34.183m traded shares in the previous session; VWAP for the session was N42.573. Guaranty rose steadily last week. We observed some profit –taking during the week but this was offset by persistent buying sentiment. The stock rounded up the trading week at a new all-time high of N43.00. We expect the stock to maintain its upward trajectory this week as investors interest persists.

CADBURY (N12.34): Gained 10.2% and closed at N12.34. Volumes decreased to 1.244m from 1.570m traded shares in the previous session; VWAP for the session was N11.86. Cadbury rose steadily last week as renewed investor interest driven by improved liquidity in the company spurred buying interest in investors. The stock ended the week at a three-month high of N12.34 and earned a spot on the top gainers list. We expect continued positive-buying to push the stock further up this week.

 

 

 

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