How Nigerian Stocks performed on Wednesday April 22, 2015 (Full price list)

• The Nigerian equities market recorded the first gain in the week, as NSEASI advanced marginally by 0.05% to peg YtD return at -0.38%. Market breadth (1.27x) was in favour of gainers, as 33 stocks advanced against 26 decliners. Though volume traded declined by 3.27%, market turnover increased by 6.14%.

• UBA championed the gainers during today’s trading, with a 6.86% gain to close at NGN5.61. Other top gainers included MANSARD (+4.93%), NEIMETH (+4.85%), HONYFLOUR (+4.85%) and AGLEVENT (+4.83%). On the flip side, IKEJAHOTEL emerged as the top loser, having shed 9.54% to settle at NGN4.17. UBCAP, GLAXOSMITH, LIVESTOCK and NASCON trailed with 5.00%, 4.99%, 4.98% and 4.94% loses in that order.

• All NSE sector indices trended northward, save for NSEFBT10 which declined by 0.70%. NSEINS10 (+1.43%) returned the highest gain, followed by NSEBNK10 (+0.91%) and NSEOILG5 (+0.50%).

• Similar to yesterday’s performance, markets across Africa seemed gloomy, as most benchmark indices were in the red at the time of writing this report, save for Nigeria, S/Africa and Egypt.

• The market’s performance in the day was in line with our expectation of market speculation and bargain hunting activities dictating market direction, while investors await more earnings releases. We therefore continue to emphasize cautious trading on companies with impressive fundamentals.
• Source: Meristem

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