Nigerian Bourse Sustains Uptrend …NSE ASI up 1.1%

Nigerian Bourse Sustains Uptrend …NSE ASI up 1.1%

LAGOS (Capital Markets in Africa) – Nigerian equities sustained gains observed yesterday as the All Share Index further strengthened 1.1%, trimming YTD loss to 4.2%. The performance was largely driven by rebound in the prices of DANGCEM (+2.2%) and GUARANTY (+2.0%) as well as further appreciation in WAPCO (+5.0%) and 7UP(+9.4%). Consequently, market capitalization improved N98.1bn to settle at N8.9tn. Activity level also improved as volume and value traded increased 52.2% and 32.2% to 241.6m units and N1.5bn with a total…

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Nigerian Equities Sink Further as Large-Cap FMCGs Extend Losses

Nigerian Equities Sink Further as Large-Cap FMCGs Extend Losses

LAGOS (Capital Markets in Africa) – The All Share Index (ASI) of the Nigerian Bourse closed negative today, losing 84bps to close at 25,032.17 points, as the bearish run in large-cap FMCGs continued unabated. Consequently, investors lost N73.5bn as market capitalization declined to N8.6tn, while MTD and YTD loss of the benchmark index worsened to 3.9% and 6.9% respectively. Today’s performance was dragged by sustained sell-pressure on NIGERIAN BREWERIES (-5.0%), in addition to losses in NESTLE (-3.9%) and ZENITH(-3.8%). However,…

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Nigerian Equities Kickstart the Week Lower as FMCGs Flounder… NSE ASI down 38bps

Nigerian Equities Kickstart the Week Lower as FMCGs Flounder… NSE ASI down 38bps

LAGOS (Capital Markets in Africa) – The equities market closed lower at the end of trade today as the All Share Index (ASI) fell 38 bps to close at 25,244.65 points. Today’s weak performance is attributable to losses in NIGERIAN BREWERIES (-5.0%), STANBIC (-4.5%) and ETI (-3.1%) which offset gains in market heavyweight – DANGCEM(+0.5%). As a result, market capitalisation declined by N33.0bn to settle at N8.7tn. Market activity also moderated as volume and value traded fell 29.7% and 46.6% to…

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Nigerian Equities Unable To Sustain Gains …NSE ASI Sheds 54bps

Nigerian Equities Unable To Sustain Gains …NSE ASI Sheds 54bps

LAGOS (Capital Markets in Africa) – The local bourse was unable to sustain gains recorded in the previous trading session as a result of sell-offs in Consumer Goods stocks – NESTLE (-3.3%), NB (-1.0%) and PZ (-9.7%). Thus, the All Share Index slid 54bps to close at 25,322.30 points, bringing YTD loss to –5.8%. Investors, in turn, lost N10.9bn as market capitalization settled at N8.8tn. Activity level stayed mixed as volume traded declined 58.9% to 143.2m units while value traded increased…

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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 Equities Market Sustains Downtrend …NSE ASI Dips 0.6%

Nigerian Equities Market Sustains Downtrend …NSE ASI Dips 0.6%

LAGOS (Capital Markets in Africa) – The current downtrend in the local bourse continued today as the All Share Index closed in the red for the third consecutive trading session, down 0.6% to settle at 25,446.66 points despite a 0.6% uptick in DANGCEM. Accordingly, YTD performance worsened to -5.3% the decline today can be broadly attributed to price depreciation n NESTLE (-5.0%), NIGERIAN BREWERIES (-2.0%) and ZENITH (-2.2%). Consequently, the market lost N53.1bn as the total capitalization closed at N8.8tn. However,…

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Bargain Hunting in Banking Stocks Drives Nigerian Equity Index Higher …NSE ASI up 13bps

Bargain Hunting in Banking Stocks Drives Nigerian Equity Index Higher …NSE ASI up 13bps

LAGOS (Capital Markets in Africa) – The Nigerian equities market bucked a 3-day downtrend as bargain hunting in banking stocks drove the index 13bps northwards to settle at 25,936.24 points. The performance was driven by gains in STANBIC(+2.9%), UBA (+2.9%), ZENITH (+1.4%) and GUARANTY (+0.6%). Accordingly, YTD loss eased slightly to -3.5%. Investors, in turn, gained N11.5bn as market capitalization settled at N9.0tn. However, activity level waned as volume and value traded decreased 50.3% and 12.0% to settle at 151.5m units and…

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