By Goddy  Egene Â
 Following huge profit taking in most of the stocks that made up the THISDAY Model Portfolio (TMP), it plunged from 44.2 per cent the previous week to 36.7 per cent last week.
The TMP had hit a record high the previous week and expectations were that as corporate earnings for the full year were released, it would rise further. Although three banks reported impressive results and recommended higher dividends, investors’ reaction remained negative.  This led to a decline in the Nigerian Stock Exchange (NSE) All-Share Index that fell by 2.9 per cent last week as investors maintained sell pressure.
In line with that negative trend, the TMP fell from a record high of 44.2 per cent to 36.7 per cent last week. The TMP is an initiative of THISDAY Economic and Financial Intelligence Unit (TEFIU), designed to enable leading stockbrokers and investment houses in the country share their trading skills and methodologies with ordinary investors.   The investment houses involved in the project are Afrinvest Limited, FSDH Securities Limited, Capital Assets Limited, Meristem Limited and  Lead Advisory Limited .
It comprises five different portfolio types constructed individually in conjunction with five leading stockbroking firms in the country with different investment objectives.
 Each of the  partner stock broking houses  constructed   a portfolio of 10 stocks selected according to their individual best judgement and using their best and well tested stock selection and investment  strategies. Each of them then deployed  an imaginary fund of N10 million to invest on the  10 stocks in whatever proportions they considered best.
An analysis of   the TMP for the week ended Friday, March 16, showed that it stood at 36.7 per cent, down from   44.2 per cent. This indicates that    the value of the N50 million imaginary fund deployed by the five firms has reduced to N68.386 million, from   N72.089 million the previous week.
 A further analysis of the   individual portfolio, showed that Portfolio C maintained   the lead at 58.7 per cent. But it is major fall from 67 per  cent level of  the previous week.  This means that the N10 million deployed by the portfolio stood at N15.871 million   as at last week.
In the same vein, Portfolio D maintained its second position, having gained 51.7 per cent, which   is below its record high of   65.1 per cent, the previous week. This implies that the N10 million deployed by the portfolio is now worth N15.172 million. Portfolio B, which   rose   to 55.8 per cent the previous week, fell to 45.5 per cent last week. This indicates that the N10 million stood at N14.551 million. Similarly,   Portfolio A fell from 34 per cent the previous week to 27.9 per cent last week.   This shows that the N10 million deployed, which   grew to   N13.399  million, two weeks ago,  has reduced to 12.791 million.
