MARKET UPDATE VOL 10

The equity market during the week gave way to selling pressure as profit taking continued to put trades on the negative direction.  The mixed performance of first quarter earnings did not influence the market in any way during the week as predicted. It’s expected that investors and fund managers will be re-positioning their portfolio on the strength of earnings posted so far and end of month window dressing by brokers to reverse the down trend. 

The composite Index NSEASI  cave in for the bear market  dropping 1.48 percent  to close lower at 34,485.72 from  an opening figure of 35,055.05 representing 519.33  basis points decline  and    pushing  the year to  date market performance  into negative  note of 1.19 per cent.

The market capitalization for the week stood at N11.75 trillion against the N11.928 trillion posted in the previous week. The bulls and bears intensified their respective efforts to dominate the market’s breadth as the two camps fought for market dominance.

The advancers' gained more symbols for three trading sessions while two trading sessions witnessed more equities trading.
Equally, all sectoral indices except for NSEINDUSTR and NSEINS for the  weekly gains of 0.64 percent  and 2.56 percent  respectively closed in red this week led again by NSE-CONSMRGDS with -1.98  percent on week to week.

The trades level appreciated during the week as volume and value of transaction were up marginally by eight percent and six percent respectively relative to the previous week’s level.

At the close of trading activities during the review, 2.06 billion shares valued N17.18 billion were exchanged in 25,157 deals compared with 1.92 billion shares worth N16.22 billion traded in 23,599 deals in the previous trading week.

The Financial Services sector was the most active, largely driven by banking stocks to maintain dominance in the market by volume, accounting for over 75 percent of total volume of traded during the week.

The Financial Sector high volume was attributed to investors and traders positioning due to first quarter results that are gradually trickling into the market.

During week the following stocks -Access Bank, Fidelity Bank, Chams, Dangote Cement, Ashaka Cement, Transcorp, Total Nigeria, Caverton and May & Baker were adjusted for dividend declared. 

Market Outlook:

We expect the market to  have mixed performance as it regain’s positive market sentiment being the last trading week for the month that will usher in the much-awaited transition month.

Activities at the nation's market will be unpredictable just like other markets of the world as investors' are selling off to go on holiday.

But on the strength of first quarter numbers and handover month we expect funds to flow into the market as many assets are trading below their fair value. 

STOCKS TO WATCH

Flourmills, Access Bank, Africa Prudential, Honeywell, United Capital, CCNN and Oando.


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To benefit from this change that comes with reform programmes and transformation of all facet of the economy.

This is time to reposition your portfolio in line with the expectations from the reforms expected from the new government come May 29.

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2, Managing the Risk of when to buy and when to sell stocks: Using Technical Analysis - By Mr. Abdul-Rasheed OshomaMomoh, Head, Capital Market in Trw-Stockbrokers Limited. 

 3, Nigeria's post-election economy & 2015 sectorial analysis: Understanding the big picture - By Mr. Mike Uzor, Managing Director of Datatrust Consulting Limited.

4, Post-election economy: 5 time-tested approaches to choosing quality companies on Nigerian Stock Exchange- By Mr. Ambrose Omordion, Chief Research Officer, InvestData Consulting Limited.

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CORPORATE ACTIONS & RELEVANT DATES  SO FAR IN 2015
COMPANY	PERIOD	DIV	BONUS		REL.	CLOSURE	PAYMENT	AGM/EGM	AGM VENUE	TIME
	ENDED	DECLD	DECLD	REASON	DATE	DATE	DATE	DATE
Nigerian Breweries	Dec.31, 2014	N3.50		Final	2/13/2015	3/5/2015	5/14/2015	5/13/2015	LATER
Forte Oil	Dec.31, 2014	N2.50	1;5	Final	2/19/2015	4/1/2015	4/22/2015	4/15/2015	ECWA CONF HALL  LekkiAjah	10;00
Nestle Nigeria Plc	Dec.31, 2014	N17.50		Final	2/25/2015	4/27/2015	5/12/2015	5/11/2015	LATER
Neimeth International Pharm	Dec.31, 2014	nil	nil	Final	2/18/2015	3/18/2015	nil	3/24/2015	LATER
Greif Nigeria Plc	Dec.31, 2014	N0.60	nil	Final	3/4/2015	3/25/2015	5/5/2015	4/28/2015	LATER
GTBank Plc	Dec.31, 2014	N1.50		Final	3/5/2015	3/17/2015	3/31/2015	3/31/2015	LATER
Zenith Bank	Dec.31, 2014	N1.75		Final	3/5/2015	3/16/2015	3/27/2015	3/26/2015	Civic Centre V/I	10;00
Africa Prudential Registrar	Dec.31, 2014	N0.35		Final	3/9/2015	3/18/2015	4/10/2015	4/8/2015	LATER
United Capital Plc	Dec.31, 2014	N0.20	nil	Final	3/12/2015	3/23/2015	4/20/2015	4/16/2015	LATER
Lafarge Africa Plc	Dec.31, 2014	N3.60		Final	3/13/2015	4/27/2015	5/25/2015	5/22/2015	LATER
Access Bank	Dec.31, 2014	N0.35		Final	3/13/2015	4/24/2015	5/7/2015	5/7/2015	Lagoon Resturant VI	10;00
Transcorp Hotels	Dec.31, 2014	N0.37		Final	3/17/2015	3/30/2015	4/17/2015	4/15/2015	Transcorp Hotel Abuja
PZ Cussons	Feb. 28,2015	N0.20		Interim	3/20/2015	3/30/2015	4/7/2015	nil
Fcmb Holdings plc	Dec.31, 2014	N0.25		Final	3/23/2015	3/30/2015	4/24/2015	4/23/2015	Muson Centre, Onikan Lagos.
Livestock Feeds	Dec.31, 2014	N0.10		Final	3/25/2015	5/28/2015	6/18/2015	6/17/2015	Golden Tulip, AmuwoOdofin, Lagos	10;00
Mobil Oil	Dec.31, 2014	N6.60		Final	3/25/2015	4/29/2015	5/28/2015	6/4/2015	Shell Hall, Muson Center, Lagos.
Julius Berger Plc	Dec.31, 2014	N2.70	nil	Final	3/26/2015	6/1/2015	6/18/2015	6/17/2015	Shehu Musa Yar’Adua Centre, Abuja	11;00
Sterling Bank	Dec.31, 2014	N0.06		Final	3/25/2015	4/13/2015	4/30/2015	4/30/2015	Eko Hotel & Suites, VI, Lagos.	10;00
McNichols Plc	Dec.31, 2014	N0.04	1;10	Final	3/26/2015	7/17/2015	7/27/2015	7/23/2015	Excellence Hotel, OgbaIkeja, Lagos.	10;00
Trans-Nationwide	Dec.31, 2014	N0.10		Final	3/26/2015	7/13/2015	8/7/2015	7/23/2015	Airport Hotel, Obafemi Awolowo Way Ikeja,
UBA	Dec.31, 2014	N0.10		Final	3/26/2015	4/7/2015	4/27/2015	4/24/2015	Lagos Oriental Hotel, 3 Lekki Road,
Dongote Cement	Dec.31, 2014	N6.00		Final	3/26/2015	4/20/2015	4/30/2015	4/29/2015	Civic Centre, VI Lagos.
Unilever plc	Dec.31, 2014	N0.10		Final	3/26/2015	4/13/2015	5/15/2015	5/12/2015	City Hall, Catholic Mission Street, Lagos.
Total Nigeria	Dec.31, 2014	N9.00		Final	3/25/2015	4/20/2015	6/12/2015	6/10/2015	Later
Fidson Healthcare	Dec.31, 2014	N0.15		Final	3/27/2015	Later	Later	Later	Later
Nacho	Dec.31, 2014	N0.20	1;10	Final	3/27/2015	5/18/2015	6/11/2015	6/11/2015	Abuja
Cadbury	Dec.31, 2014	N0.65		Final	3/27/2015	5/11/2015	6/11/2015	6/10/2015	Civic Centre, Lagos.
Caverton Offshore	Dec.31, 2014	N0.10		Final	3/27/2015	Later	Later	Later	Later
Diamond Bank	Dec.31, 2014	N0.10		Final	3/30/2015	4/16/2015	5/4/2015	Later	Later
Mrs Oil	Dec.31, 2014	N0.88		Final	3/30/2015	7/13/2015	8/6/2015	8/5/2015	Later
CAP	Dec.31, 2014	N0.85		Final	3/30/2015	6/1/2015	6/19/2015	6/18/2015	Golden Tulip, Festac
Custodian & Allied Insurance	Dec.31, 2014	N0.12		Final	3/29/2015	4/13/2015	5/14/2015	5/13/2015	Civic Centre, Lagos.
CCNN	Dec.31, 2014	N0.35		Final	3/30/2015	7/20/2015	8/18/2015	8/13/2015	Later
AshakaCem	Dec.31, 2014	N0.45		Final	3/31/2015	4/20/2015	5/6/2015	5/5/2015	Transcorp Hotel Abuja
GSK	Dec.31, 2014	N0.75	1;4	Final	3/29/2015	5/14/2015	6/12/2015	6/11/2015	Later
Fidelity Bank	Dec.31, 2014	N0.18		Final	3/30/2015	4/20/2015	5/7/2015	5/7/2015	Civic Centre, Lagos.
Stanbic IBTC	Dec.31, 2014	N0.15		Final	3/31/2015	4/14/2015	Later	Later	Later
Boc Gases	Dec.31, 2014	N0.10		Final	4/1/2015	5/15/2015	6/15/2015	6/11/2015	Later
Berger Paints	Dec.31, 2014	N0.75		Final	3/31/2015	6/15/2015	7/23/2015	7/21/2015	Later
Infinity Trust Mortgage Bk	Dec.31, 2014	N0.03		Final	3/31/2015	4/17/2015	5/15/2015	5/14/2015	Barcelona Hotel Abuja
Learn Africa Plc	Dec.31, 2014	N0.12		Final	3/31/2015	5/11/2015	6/5/2015	6/4/2015	Later
Okomu Oil	Dec.31, 2014	N0.25		Final	3/31/2015	5/18/2015	6/29/2015	6/24/2015	Later
Beta Glass	Dec.31, 2014	N0.62		Final	3/31/2015	6/15/2015	7/10/2015	7/9/2015	Mainland Hotel Oyingbo
UACN	Dec.31, 2014	N1.75		Final	3/31/2015	7/6/2015	7/30/2015	7/29/2015	Golden Tulip Hotel Festac
FBNH	Dec.31, 2014	N0.10	1;10	Final	4/7/2015	5/4/2015	5/25/2015	Later	Later
Transcorp	Dec.31, 2014	N0.06		Final	4/7/2015	4/21/2015	5/11/2015	5/8/2015	Transcorp Hotel Abuja
UACN property	Dec.31, 2014	N0.50		Final	4/7/2015	8/31/2015	9/23/2015	9/22/2015	Golden Tulip Hotel Festac
Chams	Dec.31, 2014	N0.02		Final	3/31/2015	4/20/2015	5/11/2015	4/29/2015	Later
Seplat	Dec.31, 2014	N18.00		Final	4/16/2015	5/22/2015	6/10/2015	6/2/2015	Civil Centre V/I
May & Baker	Dec.31, 2014	N0.05		Final	4/15/2015	4/20/2015	6/8/2015	5/28/2015	Muson Centre, Onikan Lagos.
Dangote Sugar	Dec.31, 2014	N0.40		Final	4/17/2015	4/28/2015	5/18/2015	5/15/2015	Eko Hotel & Suites, VI, Lagos.
ETI	Dec.31, 2014	nil	1;15	Final	4/21/2015