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Nigeria Market Watch | May 14th 2015: Nigerian equity market sustains uptrend…

Lagos, Nigeria (Capital Markets in Africa):- Bargain hunting positioning in bellwether equities ensured a bullish close in the Nigerian equities market for the second consecutive trading session. The All Share Index rose 61bps to 34,416.29 points while market capitalization gained N71.8bn to close at N11.7bn. Month-to-date (MTD) loss of the benchmark index hence pared to 0.8%. Appreciation in FORTE OIL (+5.0%), ZENITH (+3.3%), GUARANTY (+1.0%) and DANGOTE CEMENT (+0.6%) drove positive market performance today. Market activity…

Nigeria Market Watch | May 13th 2015: Bulls Resurface after 7-Day Bear Dominance

Posted on by The Editorial Team

Lagos, Nigeria (Capital Markets in Africa):- The Nigerian Equities Market closed 27bps higher today after seven days of consecutive losses. The gain recorded brought the index level to 34,208.30 points driven majorly by investor rally in Banking counters – ZENITH (+2.5%) and GTBANK (+2.0%). Similarly, market capitalization improved N31.5bn to close at N11.6tn. Market activity was however mixed as volume declined 33.3% to settle at 350.7m units while value advanced 1.9% to peg at N3.4bn. Banking…

Nigeria Market Watch | May 12th 2015: Nigerian Equity All Share Index pares 66bps

Posted on by The Editorial Team

Lagos, Nigeria (Capital Markets in Africa):- There is no respite yet for Nigerian Equities as the market extended its losing streak with the benchmark index shedding 66bps today to close at 34,115.49 points. Consequently, Month-to-date performance inched further southwards to 1.7%. The extended bearish run remained hinged on the bleak macroeconomic picture dampening sentiment for equities, most especially in relation to the policy direction of the incoming administration. Against this backdrop, investors further took profit in…

Kenya Market Watch May 11th 2015: Kenya NSE Index lost 28.23 points…

Posted on by The Editorial Team

The Nairobi Security Exchange top 20 (NSE 20) Index declined by 28.23 points to close at 5,042.52 points today. Likewise, the Nairobi All Share Index went down by 0.82 points to close at 170.65 point with total market capitalization at KES 2,387.19 billion. The market sentiment was negative today (measured as the market breadth: – advancers/decliners ratio) with 17 advancers and 22 decliners.The top market gainer was Crown Berger gaining 9.42 percent to close at…

Nigeria Stock Exchange, MSCI sign agreement on developing new market indices

Posted on by The Editorial Team

MSCI Incorporated, a leading provider of investment decision support tools worldwide, and the Nigerian Stock Exchange have signed a “strategic co-operation agreement to develop and market a co-branded “family of indexes” for the Nigerian equity market. Based on the agreement, existing and future indexes would be branded as the MSCI/NSE Indexes, including the flagship NSE 30 Index and NSE 50 Index, which will become the MSCI/NSE 30 Index and the MSCI/NSE 50 Index, respectively, a…