Best and Worst Nigerian stocks last week (16-20/3/2015)

The equities market closed negative for the second week running despite the continued inflow of earning releases and corporate actions. The NSEASI settled 4.51% lower, just as trading activities on the bourse tempered, with volume and value of transactions reducing by 61.56% and 50.93% respectively

Eleven (11) equities appreciated in price during the week, lower than thirty-three (33) equities of the preceding week. Fifty-three (53) equities depreciated in price, higher than thirty-six (36) equities of the preceding week, while one hundred and thirty-two (132) equities remained unchanged, higher than one hundred and twenty-seven (127) equities recorded in the preceding week.

The negative mood in the market was widespread as all sectors, save for Healthcare sector (+4.83%) recorded index declines. Owing to this bearish mood, 54 stocks featured in the negative zone while only 12 appreciated in value (Market breadth of 0.17x).

The Banking sector, which shed 11.13% during the week ended, was the major drag of market performance, with 11 out of the 15 sector stocks closing lower.  We attribute the prevailing sell sentiments in the market to profit-taking, and panic selling by investors ahead of the 2015 general elections. We do not see a resurgence in activities in the coming week, largely due to the growing anxiety in the country, as anticipated political headwinds crystallize. We also expect proceedings from the MPC meeting scheduled for next week to form major considerations for the investing public in the subsequent weeks. Source: Meristem/NSE

Here are the top Ten best and worst stocks last week.