Market Report

Market Review- NSE

Witnessing further downtrend, the benchmark index lost 0.32% to return 31,628.85bps. Sub-sectors monitored by the exchange showed mixed performance; NSEIND and NSEINS added gains on the back of heavyweight Dangcem(+1.01%) and Mansard (1.82%) while NSEBNK, NSEOILGS and NSECNSM closed in negative territory on the backdrop of UBN(-4.94%), Nascon(-1.97%) and Oando(-4.90%)

Market capitalization closed at N10.801Tril as ASI year-to-date stands at -8.74%. Among the broader indices volume depreciated by 44% while value appreciated by 39% relative to previous figures as 264million units of shares valued at N5.466bn exchanged hands. Top in the gainers territory are UNITYBNK (N2.46), LIVESTOCK (N2.11) and CAVERTON (N3.55) while TRANSEXPR (N1.28) AGLEVENT (N1.33) FLOURMILL (N30.69) led the losers’ territory.

UBA Capital Plc. has released its H2 2015 financial report for the period ended 30th June 2015. Revenue (N2.750Bn) and PAT (1.408bn) appreciated by 22% and 13% respectively from prior period

Market prices remain very attractive for investors with long term outlook.

Market Review- NASD

NASD - OTC Market reacts negatively today.....

Recent negative sentiments seen in equities market generally rubbed off on the NASD OTC as its market capitalization lost N27bn to close at approximately N544bn with feeble gains only seen in speculative counters.

However; from today's activity levels, there were a total of 4 deals which indicated significant drop to the number of deals achieved on the previous trading day.

The total volume of stocks and value traded was 163,750 units and N157,750 respectively. On the 4 deals consummated, 3 was on CSCS Plc while the remaining one was on IGI Plc. CSCS Plc which opened at N6.00  lost 0.50kobo to close at N5.50k serving as the only loser in the losers table while IGI maintained its previous trade price of 16k.

From all market indications, we anticipate a wait and see scenario from many investors, with meaningful clarity likely to hinge on a firm direction as per FX and the macro landscape. For long term play however, we believe the market is near ripe for bargain hunting, with the Q2 earnings season.

For more information on the market report, and price list, send an email to cslservice@fcmb.com