donne4real | December 16, 2008
Here is Afrinvest’s Forthnightly report for the period ending December 12 2008.
Afrinvest Nigeria - Dec 12 2008 (45)
You can also review the analysis of last week’s NSE performance here:
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download: Market Analysis for Week Ended Dec 12 2008 (172KB) added: 16/12/2008 clicks: 24 description: Market Analysis for Week Ended Dec 12 2008 |
Tags: marketreport
Here are the market reports from FSDH, Meristem and Lead Capital:
FSDH - Weekly Report - Dec 12 2008 (37)
Lead Capital - Weekly Report - Dec 12 2008 (23)
Meristem - Weekly Report - Dec 12 2008 (24)
donne4real | December 6, 2008
Apologies for the very late posts of these reports for last week. Here are the market reports from Afrinvest and Meristem.
Afrinvest Nigeria Market Update - Nov 28th (28)
Meristem - Weekly Report - Nov 28th (22)
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download: Market Analysis for Week Ended November 28th (169KB) added: 05/12/2008 clicks: 19 description: Market Analysis for Week Ended November 28th |
Tags: marketanalysis, marketreport
donne4real | December 2, 2008
Here are the weekly stockbroker reports for the week ended November 28th 2008 from FSDH, ZSL, and Forte.
Forte - Weekly Report - Nov 28th 2008 (23)
FSDH - Weekly Report - Nov 28th 2008 (25)
ZSL - Weekly Report - Nov 28th 2008 (30)
From the chart below, it is clear that the market is not yet in recovery mode.
donne4real | November 4, 2008
Here is Afrinvest’s market report for the week of October 25th to 31st:
donne4real | May 30, 2008
Meristem’s Market Sentiments for the week ended May 30th:
Market Declines by 2.71% Despite a 4 Day Trading Week
The stock market continued in its bearish mood all through the 4-day trading week. On the aggregate, The NSE All Share Index (ASI) dipped by 2.71% to close the week at 58,929.02 points while the total market capitalization of the 220 listed equities plunged by 2.64% to stand at N11.61 trillion. This divergence in the NSE ASI return and the percentage change in market capitalization was accounted for the new listing of 4.85 billion shares in favour of REGALINS Plc.In the same vein, a cumulative total of 4.5 billion shares valued at N44.5 billion were exchanged by investors in 67,458 deals in contrast to last week’s trading statistics of 4.43 billion shares worth N55.31 billion traded in 90,400 deals.
Petroleum Sector Leads in the Week’s Advancers’ Chart
37 stocks appreciated in price this week, higher than the 27 observed last weekend. The petroleum sector topped the advancers chart with OANDO and TOTAL appreciating by N18.81k to close N208.80k and N11.02k closing at N238.98k in that order. However, the losers declined from 92 recorded previous week to 82. CONOIL and MOBIL led the losers’ camp sheddingN14.15k and N10.50k.Insurance Sector Maintains Strong Dominance
Strong market dominance was maintained by insurance sector to emerge as the most active during the week (measured in terms of turnover), with 3.3bn shares (representing 73% of the aggregate market turnover) worth N8.05bn exchanged by investors in 12,536 deals. Activities in the sector were propelled by high trading in the shares of Investment and Allied Insurance Plc. Trading in the shares of the company captured 85% of the sector’s turnover. The banking sector trailed behind on the week’s activity table with 875 million shares exchanged in 33,667 deals valued at N29.25. Activities in the shares of companies in the Conglomerates sector claimed the third position on the table with 66 million shares traded in 1,855 deals. (Full Update)CORPORATE NEWS:
ARBICO, JAPAULOIL, WAPIC and Others Post Performance Results
CONTINENTAL REINSURANCE PLC, NIGERIAN BREWERIES PLC, JAPAULOIL PLC, TRIPPLEG PLC, INTERCONTINENTAL WAPIC PLC, ARBICO PLC, JULI PLC, NIGERIAN ROPES PLC, TOTAL PLC, MUTUAL BENEFIT ASSURANCE PLC, IKEJA HOTEL PLC and VITAFOAM PLC all posted their results during the trading week. (Full Update)REGENCY ALLIANCE INSURANEC PLC Joins the Daily Official List (DOL)
REGENCY ALLIANCE INSURANEC PLC (REGALINS Plc) during the week joined the DOL of the Nigerian Stock Exchange by way of introduction with 4.85 billion ordinary shares of 50kobo each at N1.75k. The trading symbol is REGALINS Plc.Eternaoil Plc Share Price Adjusted
The share price of ETERNALOIL PLC was marked down for scrip issues of 1 for 5 today. The ex-scrip price is N29.16k.TRANSNATIONWIDE EXPRESS PLC set to raise Fresh Funds
The share price of TRANSEXPR Plc was placed on technical suspension following receipt of application to embark on new issues.
Tags: marketreport
Bearish trend depletes investor’s confidence.
The looming market downturn couldn’t be reversed as the bears again held sway for the week under review. The NSE all share index slipped by 189 basis points while total market capitalization plunged by 182%. The disparity in the index and market capitalization was as a result of the listing of 4.85 billion ordinary shares of Regency Alliance Insurance. There was an upside in volume traded with investors staking over 5.3 million units as against 3.94 million traded the previous week. Trades were buoyed by investors’ participation in the insurance and banking sector. The duo dominated the activity chart.
A week characterized with cautious trading, conflicting sentiments and a plethora of results failed in salvaging the downward market trend. United Textile moved northwards with 15.38% price upswing to lead the gainers’ camp. On the flip side, Eterna Oil & Gas slashed 18.55% to lead the top losers’ category. The petroleum marketing stock seems to be at the mercy of profit takers as the stock had rallied in the past. Most stocks in this category were preys to activities of bargain hunters and market correction.
The bulls failed to come out of the woods in the banking sector as prices of most stocks continued their downward trend. Bank PHB was the most affected as the stock shed 13.22% to close at N22.98. With the exception of Intercontinental Bank, Ecobank, Fidelity Bank and Skye bank, others recorded price declines. The bearish mood of this sector is one of the factors mitigating the expected market rebound as it accounts for about 60% of total market capitalization.
In the agro-allied sector, Presco sustained its bullish run chalking up 11.23%. It appears investors are still excited about the proposed corporate action. The agro-allied concern is proposing a cash dividend of N0.25k and a bonus of 1 for 1 for its investors. Afprint on the other hand shed 10.10% to close at N5.25 while Okomu oil suffered a 1.64% marginal price decline. Automobile concern Dunlop also moved with the bearish market mood, the stock slashed 3.43% at the end of proceedings.
A rather stagnant Breweries and Beverages’ sector in terms of price movement saw the bears on rampage for the week under review as most stocks plunged in prices.
7up was the most hit as the stock shed 9.73% to close at N53.26. Guinness and Nigerian Breweries suffered marginal declines as they both lost 0.38% and 0.10% respectively. Nigerian Bottling Company moved against sector trends to notch up 1.30%. The stock closed at N63.00.
The cement sector has been experiencing some sort of price volatility in recent times. A rather sluggish sector in terms of price movement reflected the downbeat outlook of the market. Ashaka’s free fall saw the stock losing 7.39%. Benue Cement and Lafarge Wapco also plunged 3.67% and 3.45% respectively while Cement Company of Northern Nigeria moved against sector trend with a 1.30% hike in price.
In the chemical and Paints sector, discordant sentiments were recorded as some stocks surged in prices while others suffered price depreciation. CAP closed on the fortunate side with a 5% upswing. While investors were indifferent to DM Meyer as the stock closed on a flat note. IPWA shed 9.59% to close at N6.60. In the construction industry, Julius Berger closed the week on a flat note while UAC properties got a 4.84% boost in price to close at N27.50.
Conflicting sentiments were reflected in the Consumer Goods’ sector. Sanction-plagued conglomerate-Cadbury was again the major loser in the consumer goods sector. The stock plummeted 5.52% to close at N34.20. Dangote Sugar and Dangote Flour also recorded price declines to close the week at N33.87 and N26.59 respectively. While Nestle, PZ and Unilever all scooped up 3.21%, 4.48% and 3.28% respectively.
The pendulum of activities in the Healthcare sector swung towards the bears as most stocks lost points. Neimeth International shed 10.22% for the week under review. GlaxoSmithkline, Nigeria-German Chemicals and May & Baker all recorded 2.65%, 4.97% and 5.97% price declines respectively. This sector seems to be experiencing a form of price correction as most stocks had rallied in the past.
Market tussle saw the bears almost matching the bulls as mixed fortunes were recorded in the petroleum marketing sector. African Petroleum is still currently under technical suspension following the application for a hybrid offer. Chevron closed the week on a flat note. Total and Oando recorded 4.83% and 4.67% price upsides respectively. The former released its first quarter result ended march, 2008 for the week under review. The oil marketing company grew its top and bottom line by 20.78% and 31.63% respectively. On the flip side, Conoil and Mobil recorded 6.99% and 5.00% price depreciations respectively.
The bears were agog in the insurance sector as most stocks recorded price downswings. Newly listed Invest and Allied Insurance continued its aggressive bullish run with 14.71% price hike. The stock closed the week as the third best performing stock. The fringe insurance company was listed at N1.30 but as continued to rally since then.
What appeared as resurgence some weeks ago seems to be a mirage as the bulls are still no where in sight. Analysts have attributed the lingering downbeat mood to several factors but the market still remains impervious to the attractive prices of most stocks. The lingering market downturn might persist for a few more trading days as the market continues to correct itself.
Tags: marketreport, stockmarket
