Africa Equity Weekly | 22 Jan 2016: Relief for Nigeria and South Africa Investors but not Kenya’s …

Lagos, Nigeria, Capital Markets in Africa — As the week ending 22nd January 2016 came to a close, the African equity markets continued in the red district. Out of the eighteen African equity indices four ended in positive district and thirteen in the negative region (Illiquid Swaziland All Share index remained unchanged to end at 327.5 points) compared to the previous week ending Friday 15th January 2016. The overall average return of the eighteen stock indices was almost -1.0 percent week-on-week.

Namibia’s Overall Share Index led the pack of positive gainers’ markets surging by 2.54 percent w-o-w to end the week at 796.92 points relative to 777.19 points after gaining on 3 out of the 5 trading days of the week to trim year-to-date (YTD) loss to -7.92 percent. Moroccan All Share index emerged as the second best performer after it gained on 4 out of the 5 trading sessions of the week bringing the w-o-w return to +1.00 percent and reduced the year-to-date (YTD) loses to -4.6 percent. South Africa JSE All Share emerged at the second best performer after surging on 2 out of the 5 trading sessions of the week bringing the w-o-w return to 1.49 percent and decreased the year-to-date (YTD) to -6.0 percent.

The Nigerian All Share Index also ended in the positive zone by gaining 1.33 percent w-0-w and brings YTD loss to -16.8 percent. The Nigeria’s market lost on Monday and Tuesday but gained momentum from Wednesday (gains of 3.90 percent), Thursday (added 1.51 percent) and Fridays (0.59 percent). Moroccan All Share index emerged as the fourth best performer and added 0.17 percent w-o-w to settle at 8,868.44 points.

On the red zone, Zimbabwean Industrial index was the worst performer by losing 6.83 percent w-o-w to settle at 103.02 points and fell in all the 5 trading days. Kenya’s Nairobi All Share Index  fell in all 5 trading days of the week bringing the w-o-w return to -3.80 percent and increasing YTD loss to -6.33 percent. Ugandan All Share Index ended at 1,729.9 points after dipping by 5.53 percent to occupy the third worst performer.