RESEARCH REPORT FOR THE WEEK ENDED JANUARY 11, 2019

The bourse recorded loss for the first three trading days of the week ended January 11 2019 but rebounded in the
final two days making the market to shrink by 2.64% and the year to date loss at 5.1%. This can be attributed to the
growing apprehension about the forthcoming general elections on the part of portfolio investors and active sell offs
by retail investors. A total turnover of 1.265 billion shares worth N14.074 billion in 19,278 deals were traded this
week by investors on the floor of the Exchange in contrast to a total of 1.647 billion shares valued at N8.413 billion
that exchanged hands last week in 14,773 deals.
The three top traded stocks by volume this week are Diamond, FBNH and Custodian Investment. All but the
Industrial sector index dropped this week, compared to the previous week, the Industrial index appreciated by
11.88% while the Consumer goods index recorded the biggest decline as it dipped by 26%.
We expect the market to follow similar trend of sell offs and inactivity of portfolio investors next week as well as
passive bargain hunting.
We also expect quoted companies to continue releasing their 3rd quarter results for 2018.

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