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Weekly Market Review & Stock Recommendations – June 27, 2022

Some of our recommended stocks are mentioned below; 
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Ecobank Transnational Inc Q1 2022 results showed an increase in interest income by 12.24% from N139.11bn in Q1 2021 to N156.13bn in Q1 2022. Net interest income advanced by 4.15% from N95.35bn in Q1 2021 to N99.31bn in Q1 2022 despite a 30% rise in interest expense. Operating income advanced by 10.27% from N164.64bn in Q1 2021 to N181.54bn in Q1 2022. PBT went up by 29.07% from N40.34bn in Q1 2021 to N52.07bn in the current period. PAT grew by 25.68% to N38.32bn in the current period from N30.49bn in Q1 2021. EPS grew by 41.67% to N1.19 in Q1 2022 from N0.84 in Q1 2021. Ecobank has a BVPS of N48.03, P/BV ratio of 0.20x and P/E ratio of 2.04x. 
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Lafarge Africa (WAPCO) Plc Q1 2022 results showed that gross earnings advanced by 26.77% from N71.47bn in Q1 2021 to N90.61bn in the current period. Gross profit increased by 35.18% to N42.17bn in Q1 2022 from N31.2bn in Q1 2021. In a similar tune, profit before tax advanced by 68.09% from N12.77bn recorded in Q1 2021 to N21.47bn in the current period. Likewise, profit after tax grew by 92.18% from N9.14bn in Q1 2021 to N17.56bn in Q1 2022. Consequently, Earnings per share went up by 91.23% from N0.57 in Q1 2021 to N1.09 in Q1 2022. Wapco has a BVPS of N24.59, P/BV of 1.10x and P/E ratio of 6.19x.

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Daily Market Report for June 24, 2022

The Nigerian Exchange Limited Bourse closed Positive. The benchmark All Share Index (ASI) appreciated by 0.17% to close at 51,705.61 pts. Market Capitalization increased by 46.83 billion to close at N27.87 trillion and the Year-to-Date (YtD) returns settled at 21.04%.Performance across sectors was broadly bearish as 3 out of 5 sectors closed in the red zone. Consumer Goods, Insurance and Oil/Gas Indices declined by 0.56%, 0.71%, and 0.46% respectively. Banking Index advanced by 0.06%. While Industrial Index remained unchanged. Market activity measured by aggregate volume decreased by 30.08% and value decreased by 35.82%. Investors traded a total of 156 million units of shares valued at N1.83 billion in 4,312 deals.

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Daily Market Report for June 23, 2022

  • The Nigerian Exchange Limited Bourse closed Positive. The benchmark All Share Index (ASI) appreciated by 0.47% to close at 51,618.73 pts. Market Capitalization increased by 130.21 billion to close at N27.83 trillion and the Year-to-Date (YtD) returns settled at 20.84%.
  • Performance across sectors was broadly bullish as 3 out of 5 sectors closed in the green zone. Banking, Insurance and Oil/Gas Indices advanced by 0.15%, 0.73% and 0.53% respectively. Consumer Goods Index declined by 0.34%. While Industrial Index remained unchanged. 
  • Market activity measured by aggregate volume decreased by 2.67% and value decreased by 10.57%. Investors traded a total of 223 million units of shares valued at N2.86 billion in 4,028 deals.

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Daily Market Report for June 22, 2022

  • The Nigerian Exchange Limited Bourse closed Positive. The benchmark All Share Index (ASI) appreciated by 0.56% to close at 51,377.21 pts. Market Capitalization increased by 153.9 billion to close at N27.70 trillion and the Year-to-Date (YtD) returns settled at 20.28%.
  • Performance across sectors was broadly bearish as 4 out of 5 sectors closed in the red zone. Banking, Industrial, Insurance and Oil/Gas Indices declined by 0.61%, 0.28%, 0.39% and 0.19% respectively. While Consumer Goods Index advanced by 0.14%.
  • Market activity measured by aggregate volume increased by 37.37% and value increased by 16.68%. Investors traded a total of 229 million units of shares valued at N3.2 billion in 4,536 deals.

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Daily Market Report for June 21, 2022

  • The Nigerian Exchange Limited Bourse closed Positive. The benchmark All Share Index (ASI) appreciated by 0.66% to close at 51,091.75 pts. Market Capitalization increased by 180.61 billion to close at N27.54 trillion and the Year-to-Date (YtD) returns settled at 19.61%.
  • Performance across sectors was broadly bullish as 3 out of 5 sectors closed in the green zone. Banking, Industrial, and Oil/Gas Indices advanced by 0.38%, 3.86% and 0.68% respectively. While Consumer Goods and Insurance Indices declined by 0.11% and 0.06% respectively.
  • Market activity measured by aggregate volume decreased by 51.60% and value decreased by 10.86%. Investors traded a total of 166 million units of shares valued at N2.74 billion in 4,398 deals.

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