Nigerian Breweries Buoys Market Performance…NSE ASI marginally up 1bp

Nigerian Breweries Buoys Market Performance…NSE ASI marginally up 1bp

LAGOS (Capital Markets in Africa) – The Nigerian equities market closed flat as the All Share Index rose 1bp to settle at 25, 251.63 points, while YTD loss of the index was unchanged at -6.0%. The major drivers of the positive performance today were NIGERIAN BREWERIES (+4.3%), FBNH (+3.2%) and ACCESS(+2.5%) as market capitalisation rose N741.4m to N8.7tn. Activity level strengthened as volume and value traded rose 26.9% and 181.1% to 131.2m units and N2.8bn…

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Bargain Hunting Pushes Nigerian Benchmark Index to Close Higher

Bargain Hunting Pushes Nigerian Benchmark Index to Close Higher

LAGOS (Capital Markets in Africa) – Performance in the Nigerian equities market deviated from the 2-day bearish trend, as the All Share Index (ASI) rose 0.4% to close at 25,130.26 points while YTD loss trimmed to -6.5%. Consequently, investors gained N33.9bn as market capitalization improved to N8.7tn. Gains in counters which had previously declined –  NIGERIAN BREWERIES (+4.2%), DANGCEM (+0.6%) and FORTE (+10.2%) – ensured the market closed positive. However, market activity was mixed as volume traded rose 11.7% to settle at…

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Nigerian Bourse Halts 3-Day Downtrend …Benchmark Index up 5bps

Nigerian Bourse Halts 3-Day Downtrend …Benchmark Index up 5bps

LAGOS (Capital Markets in Africa) – The local bourse bucked bearish trend observed in the last three trading sessions as buy an interest in DANGCEM (+0.7%), GUARANTY (+1.4%), UBA (+0.8%) and ACCESS (+0.8%) drove the benchmark index 5bps northwards to settle at 25,460.45 points. Accordingly, market capitalization improved by N4.8bn to settle at N8.8tn while YTD return steadied at –5.3%. Activity level was mixed as volume surged 67.9% to 347.8m units while value traded waned 10.3% to N1.4m in 2,934 deals. Mixed Sector…

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Nigerian Equity Markets | 15 Dec 2016: Banking Stocks Drive Index Higher, SE ASI up 0.6%

Nigerian Equity Markets | 15 Dec 2016: Banking Stocks Drive Index Higher, SE ASI up 0.6%

LAGOS (Capital Markets in Africa) – The equities market recorded gains for the 6th consecutive trading session today as the All Share Index expanded 0.6% to close at 26,559.01 points consequent on price appreciations in Banking Stocks such as UBA (+4.8%), GUARANTY (+4.4%) and ZENITH (+1.6%). Accordingly, market capitalization rose N52.1bn to settle at N9.2tn though market activity waned as volume and value traded declined 2.6% and 64.9% to close at 200.0m units and N1.5bn respectively. Banking Sector Emerges Lone Gainer…

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Nigerian Equity Markets | 17 Nov 2016: Equities Extend Bearish Streak to 5th Session …NSE ASI down 0.2%

Nigerian Equity Markets | 17 Nov 2016: Equities Extend Bearish Streak to 5th Session …NSE ASI down 0.2%

LAGOS (Capital Markets in Africa) – The Equities market recorded a loss for the 5th consecutive session at the end of trading today as the All Share Index (ASI) pared 0.2% to settle at 25,599.79 points, bringing YTD loss to 10.6%. Sell pressure on NIGERIAN BREWERIES (-0.6%), FORTE (-5.0%), TOTAL (-4.8%) and GUARANTY (-0.7%) dragged market performance as investors lost N18.4bn bringing market capitalization to N8.7tn. Activity stayed mixed as volume traded rose 10.9% to 161.6m…

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Nigerian Equity Markets | 20 June 2016: Equities Buck Gaining Trend…NSE ASI down 163bps

Nigerian Equity Markets | 20 June 2016: Equities Buck Gaining Trend…NSE ASI down 163bps

LAGOS, Nigeria, Capital Markets in Africa: In a complete reversal of the bullish trend which began after the Press briefing of the CBN Governor – where the guidelines for the operation of the flexible exchange rate were released- the Nigerian Equities market closed in the red today. Despite the increasing expectation of foreign investors’ return to the market, profit taking thrived as investors sold off on stocks that gained significantly in the previous week. As…

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Nigerian Equity Markets | 31 May 2016: Stocks Tumble on Panic Selling …NSE-ASI down 4.3%

Nigerian Equity Markets | 31 May 2016: Stocks Tumble on Panic Selling …NSE-ASI down 4.3%

LAGOS, Nigeria, Capital Markets in Africa: The Bullish trend in the Nigerian equities market was reversed as the All Share Index plunged 4.3% amid profit taking and FX uncertainty following the Democracy Day Speech. After touching a year high of 28,902.25 points on Friday, the benchmark index tumbled to 27,671.08 points today, sending YTD return (-3.4%) back to the negative region. Market capitalization also shrank N425.6bn settling at N9.5tn. Today’s sharp decline was broadly driven…

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