Last week, investors in the Nigerian equity market recorded a week-on-week gain of ₦46 billion from positive sentiment on some medium-priced stocks, as the market performance indicators grew in four of the five trading days. As a result, the All Share Index (ASI) grew by 87.50 absolute points, representing a growth of 0.35% to close at 25,309.37 points. Similarly, the Market Capitalisation gained ₦45.65 billion, representing a 0.35% increase to close at ₦13.20 trillion.
The uptrend was impacted by gains recorded in medium and large capitalized stocks, amongst which are; PZ (+9.09%), UNILEVER (+7.53%), UACN (+4.55%), STANBIC (+4.49%), FCMB (+3.45%), BUACEMENT (+2.83%), INTBREW(+2.78%), NB (+2.78%), FLOURMILL (+1.62%), FBNH (+1.00%), VITAFOAM (+0.92%), GUARANTY (+0.40%) and ZENITHBANK (+0.30%).
Outlook for the week ending September 4th 2020
Following six successive week-on-week bullish run on the local bourse, we anticipate profit taking by active investors in the new week. Hence, we expect the overall market performance indicator NSE-ASI to take a little slack.
- BUY: Means the upside potential of the stock over the next 12-months is significantly high when the current price is compared to our fair value. Hence, investors can take advantage.
- HOLD: Means upside potential of the stock over the next 12-months is modest when the current price is compared to our fair value. Hence, investors may either hold onto the current units or sell part.
- SELL: Means the stocks has below 15% potential to hit out fair value target. Hence, investors may choose to exit position.
- UR: Means the stocks is Under Review based on the most recent earnings’ result. Hence, investors may take caution when trading such stock.
HEADLINES YOU MIGHT HAVE MISSED FROM BRAND SPUR
Gov Ishaku receives award from Mambilla beverages
The Mambilla Beverages Nigeria Limited today gave an Award of Excellence to the governor of Taraba State, Arch Darius Dickson Ishaku, at the government house Jalingo.
COVID-19: Gov Ishaku commissions a remodelled GeneXpert laboratory
Governor Darius Ishaku had, on Friday 28/08/2020, commissioned a remodelled GeneXpert laboratory for testing Covid-19 within the Specialists Hospital Jalingo.
Nigeria Rugby Union signs kit sponsorship deal with BLK Sports
British Apparel Company BLK Sport and The Nigeria Rugby Football Federation (NRFF) have signed an exclusive long-term kit sponsorship/partnership deal aligning with the Company’s global strategy.
Apple reportedly bought VR startup Spaces, the tech giant’s eighth disclosed acquisition of the year. We discuss Apple’s moves in the VR space — including a patent for reducing motion sickness while working virtually in a vehicle.
IITA invests in development and implementation of seed yam certification system in Nigeria
IITA renovated and equipped the diagnostic laboratory of the National Agricultural Seed Council (NASC) at their headquarter in Sheda, Abuja, with equipment worth $100,000 for seed quality control and Seed Tracker e-certification system. A PCR for DNA amplification and other laboratory equipment will allow technicians of the seed regulatory agency to conduct diagnostics and seed quality testing in line with the amended existing standards for seed yam.
In line with its continuous commitment to youth development in Nigeria, MTN Foundation, the CSR arm of Nigeria’s leading ICT company, MTN Nigeria, has engaged leading minds in the Nigerian entertainment and media industry for this year’s edition of MTN’s Business of the Art Series.
LASCODA trains youths on commercial coconut oil processing
The Lagos State Government has embarked on the training of youths and women on commercial Coconut Oil processing at the Farm Service Centre, Oko-Oba, Agege as part of efforts towards Making Lagos State a 21st Century Economy.
Lessons we need to learn about record labels moving into African music
If we are not careful, we are in the beginning of the creativity of African music and artistry being captured and abused by the American corporate system?
