Nigerian Equities depreciate by 0.86%

 

 

The Nigerian Stock Exchange All Share Index (NSE ASI) and the Market Capitalization depreciated by 0.86%, at today's trading with the All Share Index closing at 29,572.90 points against the previous close of 29,828.95 points while Market Capitalization closed at N10,163.59 trillion against previous close of N10,251.59 trillion.

With this performance, the Year-to-Date return stood at -14.67%.

The NSE 30 Index decrease by 1.08 per cent from 1,355.90 basis points to 1,341.31 basis points.

The NSE Banking Index depreciates by 1.89 per cent from 318.62 points to 312.59 basis points.

Volume traded decreased by 61.50% from 366,919,059.00 million to 141,270,343.00 million, while the total value of stock traded decreased by 74.03% from ₦5,244 to ₦1,361 billion in 3,218.00 deals with 14 stocks rising, 58 stocks closed flat while 34 others are declining.

MAYBAKER Plc. rose by 4.92 per cent or N0.06 to close at N1.28 per share.

MAYBAKER, MANSARD, IKEJAHOTEL, WEMABANK and CCNN emerged the highest price gainers on the chart, while OANDO, LIVESTOCK, GUINNESS, STANBIC, and UNILEVER topped the losers chart.

CORPORATE DISCLOSURE

SKYE Bank recorded revenue growth of 33.1%.

Skye bank Plc. recently declared it’s Q3:2015 results in which gross earnings grew by 33.1% to 129mn and PAT marginally by 21.5% to 11.98mn despite the unfavourable macro and regulatory environment. EPS grew by 15.7% to N0.86. Currently trading at N2.00 and at a P.E of 1.34x, we maintain our BUY rating with a price target of N2.50 representing an upside of 25.00%.

Ecobank Groups reports PAT of 15%.

Ecobank Plc. recently declared it’s Q3:2015 results in which Revenue down 3% $1,598 million (up 17% to NGN316 billion). Profit before tax down 2% to $398 million (up 18 % to NGN79 billion) Profit after tax down 5% to $306 million (up 15% to NGN60 billion), Total assets down 0.2% to $23.4 billion (up 21% to NGN4,650.6 billion), Total equity up 10% to $2.7 billion (up 34% to NGN 528.2 billion). Currently trading at N18.09 and at a P.E of 5.48x, we maintain our BUY rating with a price target of N25.00 representing an upside of 38.20

 

Bond yields rise as liquidity thins

The nation’s overnight lending rates and yields on long-term bonds declined today. OBB and O/N declined to 5.00% and 5.54% respectively from 5,25 and 5.75 respectively.

 

Credit: AAML