Stories by Iheanyi Nwachukwu
The Nigerian equities market rounded off last trading week on a positive note, despite mixed closes witnessed within the week. Stocks listed on the Nigerian bourse recorded cumulative gain of N104billion in the trading week to Friday March 9, 2018. The Year-to-Date (YtD) returns stood Friday at 12.88percent as market performed in line with earlier expectations of more earnings releases dictating trading direction.
Nestle Nigeria Plc, Med- View Airlines Plc, Austin Laz & Company Plc, and NASCON Allied Industries Plc released their full year results on the NSE last week. As the corporate earnings season enters full gear, with most companies reporting many investors are positioning to reap from both capital appreciation and expected dividend yield.
The NSE All-Share Index (ASI) appreciated by 0.68percent week-on-week (WoW) from 42,876.23 points to 43,167.86 points. While improved buy sentiment displayed by many investors on value stock at the Nigerian Stock Exchange (NSE) helped push equities value higher, the valued of listed equities increased
to N15.507trillion last week from N15.403 trillion recorded at the beginning of the trading week in review.
Many analysts anticipate further uptrend in the market amid more earnings declaration and improving
general economic fundamentals.
For instance, research analysts at Lagos-based Cordros Capital said their nearest term outlook for Nigerian equities remains positive, “on the backdrop of strengthening macroeconomic fundamentals, and the release of more fourthquarter (Q4) 2017 corporate earnings, which are broadly expected to be positive and are likely to support positive investors’ sentiments.”
