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Market Review – May 13 2015

14
May

EQUITIES

  • The market returned to positive territory in today’s trading session albeit with a marginal gain of 0.27%, after a seven days stretch of losses adding up to 1.72%. This lift was influenced by the appreciation in the prices of some high cap stocks such as 7UP, GUINESS, GUARANTY, MOBIL, ZENITH, UBA and NB.
  • The NSE ASI closed at 34,208.30points while the market capitalization increased by N31.52billion to N11.62trillion. The increase took the week–to–date and the month–to–date returns to a reduced loss of 0.52% and 1.44% respectively, while the year-to-date markets returns to a condensed 1.30% loss.
  • Three out of the five key sectoral indices appreciated. While the banking index topped the list with a 1.26% gain, the consumer goods and the industrial goods indices followed suite with a 0.30% and 0.07% gains respectively. In contrast, the insurance and the oil & gas indices recorded losses of 1.14% and 0.08% respectively.
  • Market breadth was negative as 20 gainers and 27 losers were recorded. Volume traded decreased by 33.29% to 350.83million shares, valued at N3.53billion and traded in 4,154 deals. The highest gainer recorded was BETAGLAS with a 10.00% gain in its price, while HONYFLOUR on the other hand was the highest loser with 5.00% loss in its price.

 

OUTLOOK

As expected a drop-off in market value at the forefront of the Monetary Policy Committee (mpc) meeting of May 18 & 19 2015 has commenced.

 

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