The bourse was bullish all through the week ended 18 January 2019 as the All Share Index advanced by 3.94% to
close the week at 31,005.17 points.Bargain hunting was quite visible and rife during the week, hence the general
appreciation of the Market indices. A total turnover of 1.270 billion shares worth N13.455 billion in 16,476 deals
were traded this week by investors on the floor of the Exchange in contrast to a total of 1.265 billion shares valued at
N14.074 billion that exchanged hands last week in 19,275 deals. The three most traded equities are Diamond,
Guaranty Trust and Zenith Bank contributing about 55% to the total equity turnover by volume.
The Industrial Goods index is the biggest advancing index for the week as it gained 12.71% on the back of huge
buying interest in Dangote Cement and Cement Company of Northern Nigeria. Followed by the Insurance index
which appreciated by 6.39% due to gains recorded by NEM Insurance, Sovereign Trust and Regency Assurance.
The Banking index is the only declining index for the week owing to price decline recorded on Guaranty Trust
Bank, FBNH, UBA and Zenith Bank.
We still maintain a moderate outlook for the coming week, as stock prices are likely to be affected as we get into the
thick of the election period and uncertainty persists.
We also expect quoted companies to start releasing their financial statements, especially for the full year ended
December 2018.