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
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.
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