For the first time this month, the Nigerian equities market recorded a positive Week-on-
Week (WoW) return. The index advanced on three (3) out of five (5) trading days of the week by
0.34% WoW to settle the Year-to-Date return at -6.04%.
The volume of transactions pared by 30.02%, while market turnover increased by 12.76%. Market breadth at 0.55x, indicates eighteen (18) advancers as against thirty-three (33) decliners in the week.
The outperformer for the week was Nigerian Breweries, NB, which advanced by 13.04% to close at NGN130.00.
The counter was followed by GUINNESS (+11.57%), NPFMCRFBK (+9.26%),
BETAGLAS (+4.99%), and CUSTODYINS (+4.94%). Championing the laggards’ list were
UNILEVER (-16.18%), F0 (-14.96%), VITAFOAM (-14.00%), UACN (-12.20%), and
Nigerian Breweries Plc, Transcorp Hotel Plc and Africa Prudential Registrars Plc released their FY2016 in the course of the week and declared dividends of 258 kobo, 40 kobo and
30 kobo respectively.
As expected, market watchers saw pockets of bullish sentiments in the market this week, as investors continued to take positions in anticipation of dividend payments upon the release of FY2016 financial scorecards.
However, they posit that the general market mood remains weak, as last week’s performance was largely steered by 13.04% and 11.57% gains recorded by NB and GUINNESS respectively. In the new week, they expect the current market trend to extend.