…. As investor await outcome of MPC meeting
In a swift response to the Gross Domestic Product (GDP) report that the National Bureau of Statistics (NBS) made public on Monday, the Nigeria Equities market which started the day, showing huge form of weakness picked up and finished in the green, growing by 0.24 percent, having gained 89.02 points and N31 billion, respectively.
The NBS report which showed that Nigeria’s Gross Domestic Product (GDP) grew in Q3 2017 by 1.40% (year-on-year) in real terms; the second positive growth since it technically and officially quit economic recession in Q2 2017, inspired investors and traders to quickly take position in various stocks.
The uptrend all-together triggered the market’s advancement in the day as investors and trader anticipate the outcome of the Central Bank of Nigeria’s Monetary Policy Committee meeting which is to be rounded off tomorrow (Tuesday).
The bourse had witnessed reduced patronage in the day, which resulted in the market’s show of huge weakness and which saw the main market Index close mixed. The Total deals declined by 3.36 percent, Aggregate Volume declined by 88.58 percent and Aggregate Value declined by 61.13 percent. Federal Government of Nigeria’s Bond capitalization (BOND CAP) advanced by 0.43 percent while Exchange Traded Funds (ETF CAP) declined by 0.52 percent.
The market breadth in the day closed strong as the stocks that grew in prices outnumbered those that declined in prices
The Nigerian Stock Exchange All Share Index (NSEASI) for Monday 20 November, 2017 closed at 36,792.60 points which is 0.24% higher than the previous session’s 36,703.58 points.
Market Capitalization closed at ₦12.805 trillion against previous session of ₦12.774 trillion, representing 0.61 percent increase.
2,993 deals recorded in the day represent a decrease of 3.36 percent against previous session’s 3,097 deals.
The 208.710 million units of equities traded for the day was 88.58 percent lower than previous session’s 1.827 billion.
Value of equities traded for the day decreased by 61.13 percent less than previous session’s ₦6.306 billion to ₦2.451 billion which was recorded for the day
Gainers for the day (17):
PZ, NASCON and ETERNA led other fourteen percentage price gainers for the day.
Losers for the day (15):
FO, LAWUNION and UNITYBNK led other twelve percentage price losers for the day.
Ten Best Stocks:
FBNH, ZENITHBANK and GUARANTY recorded the most deals of the day.
CUSTODYINS, FBNH and FIDELITYBK recorded the most volume in the day.
ZENITHBANK, STANBIC and NB recorded the most value in the day.
Financial services industry was the most active industry for the day with 175.471 million shares exchanged for ₦1.357 billion Thursday.
Consumer Goods industry was next with 21.429 million shares traded for ₦0.863 billion.
Conglomerates Industry, Oil and Gas Industry and ICT industry followed respectively.
Market breadth closed positive as number of price gainers outweighed number of price loser with 17 gainers against 15 losers.
5 STOCKS TO WATCH ON TUESDAY:
- Dangote Flour (DANGFLOUR): The stock which grew 3.22 percent to close at N9.29 is still looking good, considering the company’s exciting 2017 Q3 financials, as well as the positive elasticity of demand for its product line which makes the stock buyable for the long term, as it aims to attain its 12months high of N9.97.
- Transnational Corporation of Nigeria Plc (TRANSCORP): It looked down by 0.74percent in the day to close at N1.34. But with the positive macro-economic news making the rounds, the stock is expected to rebound very shortly.
- First Bank of Nigeria Holdings (FBNH): The stock which advanced by 1.45 percent to close at N7.00 in the day is expected to sustain its rally as it continues to move towards attaining and surpassing its 52 weeks high of N7.79.
- Fidelity Bank (FIDELITYBK): The stock which closed flat, Monday is expected to rally on the strength of its impressive 2017 Quarter 3 financial report.
- United Capital Plc (UCAP): The stock which advanced by 1.87 percent in the day to close at N3.27, is expected to rally further on the strength of its 2017 quarter 3 financial report.
The Nigeria Stock Exchange Market data for Monday 20th November, 2017: