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Market Update 1

    Market Update 1

     
     

     
    The NSE-ASI gained N70.71billion today to close at 35,605.30 after five consecutive days of contraction since August 28, 2017 in reaction to the 0.55% Q2 GDP released by the National Bureau of Statistics yesterday. Meanwhile, a total turnover of 281.84 million shares valued at N5.42billion in 4,066 deals traded today by investors on the floor of the Nigerian Stock Exchange in contrast to 230.03million units of shares valued at N4.77billion that exchanged hands previous day in 4,188 deals. The gainers chart was led by Guinness (10.24%), Airservice (4.93%), Redstar (4.79%), AGLevent (4.62%, Diamondbnk (4.42% and Cutix (4.0%) respectively. However, top on the losers table are PZ (4.98%), Morison (4.88%), and Linkassure (4.48%) respectively. The banking sector dominated the volume and value of shares traded today. By volume distribution, 8 banks made the top 10, while 5 banks were also among the top10 most valued trades. Interestingly, Guaranty Bank Plc was the only company with value traded above N2.6billion (or 49.65%) of the total value of shares traded today. The disparity between the NSE-ASI and the 30-day moving average became slimmer today as the NSE ASI gained 0.57%. Today, the 30-day MA is 3.08% above the NSE Index translating into N378.98billion difference in contrast to the 3.58% or N473.39billion difference recorded previous day. The gainers, volume and value drivers are highly capitalized, valued stocks and mostly, banks while the losers are penny stocks. Tiddo stock recommendations revealed some undervalued and overvalued stocks as a guide for investment decisions. However, ethically inclined investors can make their choices from the list of the NSE Halal Screened stocks below.
     

     
     

     
     

     
     

     
     

     
     

     
     

     
     

     
     

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