Before it's here, it's on InfoWARE Market Data Terminal; Years of Fundamentals, Analytics and more... GUINEAINS 10.00  ROYALEX 10.00  AIRTELAFRI 8.97  INTENEGINS 7.84  PRESTIGE 5.88  VETGRIF30 5.26  STERLINGNG 4.74  WAPIC 4.48  ELLAHLAKES 3.13  REGALINS 3.03  NEWGOLD -23.33  ETERNA -9.89  STANBICETF30 -8.33  FCMB -8.28  OMATEK -6.94  MERGROWTH -6.57  UNITYBNK -5.88  FBNH -5.36  GTCO -5.33  UBA -5.00 

CardinalStone Research Model Equity Portfolio - 29 April 2024 | InfoWARE Finance

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  • CardinalStone Research Model Equity Portfolio - 29 April 2024 | InfoWARE Finance
0.84% trending_up
₦98,156.71
ASI
0.91% trending_up
₦3,635.91
NGX30
-3.04% trending_down
₦782.99
NGXBNK
-0.06% trending_down
₦1,526.58
NGXCNSMRGDS
-0.36% trending_down
₦1,181.16
NGXOILGAS
-0.55% trending_down
₦9,637.30
NGXPREMIUM
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CardinalStone Research Model Equity Portfolio - 29 April 2024
(Source: CardinalStone Research, Date: 29-Apr-2024)

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CardinalStone Research Model Equity Portfolio

Last week, the domestic bourse closed lower for the sixth consecutive week, with the ASI down by 139bps, while the MEP shed 96bps, outperforming the index by 43bps. Year-to-date, the MEP has returned 31.47% vs the NGX-ASI's return of 31.27%.


The tactical decision to exclude FBNH, which lost 16.26% WoW, remained the primary driver of the MEP's outperformance. Last week's contraction in the stock may be linked to reactions to the company's extraordinary general meeting and change in executive leadership. In addition, recovery in some banking names like GTCO and UBA also helped offset pass-through from sell-offs in other banking tickers. Overall, our banking exposures cost the portfolio 20bps.


It is worthy of note that the banking index has lost 25.75% since the CBN announced the recapitalization exercise on 28 March 2024 and is down 14.79% year-to-date. Friday's close marked the lowest point in the index since 4 December 2023.

See more here


Regards,


CardinalStone Research

research@cardinalstone.com

CardinalStone Research 

Lagos Office: 5 Okotie Eboh Street 

                       South-West Ikoyi, Lagos

                       Nigeria



Abuja Office: 4 Misratah Street

                       Wuse II, Abuja, Nigeria

Tel:                 +234(1) 7100433, 7100434

Email:            research@cardinalstone.com 

Website:       www.cardinalstone.com   

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