Nigeria

Lagos, Nigeria, Capital Markets in Africa — The Nigerian equity market benchmark index went further below the 30,000pts psychological mark after dipping 18bps today to close at 29,136.85pts. This decline was driven by the sell-offs recorded in DANGOTE CEMENT (-1.0%), UNILEVER (-5.0%) and FBN Holdings (-1.2%). In a similar manner, market capitalization fell N105.3bn to settle at N10.0tn. Activity level measured by volume and value traded however showed mixed performances as volume advanced 49.9% to 308.1m…

Lagos, Nigeria, Capital Markets in Africa — The Nigerian Equities market ended the week negative, closing the last trading session for the week 0.9% lower as the All share Index settled at 29,190.54pts, sustaining a week-long of bearish sentiment. Market capitalisation equally shed N87.4bn to berth at N9.9tn for the week. Today’s decline remained on account of sell pressure on OANDO. We observed that the Oil and Gas Stock has plunged 40.0% since the submission of…

Lagos, Nigeria, Capital Markets in Africa — The Nigerian equity market has sustained its bearish momentum following weak earnings results and regulatory sanctions which have doused investors’ confidence, resulting into a further 70bps decline in the benchmark — All Share Index — to close at 29,189.22 points, whilst market capitalization shed N71.2bn to N10.0tn. Consequently, Month to Date and Year to Date closed southwards at -6.5% and -15.8%. The weakening in the benchmark equities indicators today was…

Lagos, Nigeria, Capital Markets in Africa — The Nigerian stock market sustained its bearish run into the 6th trading session as the benchmark equities index – All Share Index (ASI) dipped 60bps to close at 29,396.31pts, bringing WTD, MTD and YTD returns to -2.1%, -5.8% and -15.2% respectively. Similarly, market capitalization shed N60.7bn to N10.1tn. The sustained losing streak in the bourse was against the backdrop of continued selling pressure in OANDO (-9.6%) and STANBIC (-7.5%)…

Lagos, Nigeria, Capital Markets in Africa — The Nigerian equities market extended losses into the fifth trading session as the All Share Index (ASI) declined 0.9% to close at 29,572.90 whilst market capitalization shed N88.0bn to close at N10.2tn. Today’s decline in the benchmark index followed sustained selling pressure in OANDO (-9.7%), blue-chip Banking counters — GUARANTY (-2.9%), STANBIC (-5.0%), FBN HOLDINGS (-4.9%), ZENITH (-1.7%) and UBA (-4.8%) — and Consumer Goods equities – GUINNESS (-5.0%)…

Lagos, Nigeria, Capital Markets in Africa — The Nigerian Equity Market extended losses into the 4th trading session as it opened the week negative against the backdrop of lacklustre earnings declared by quoted companies which further doused investors’ sentiment. Consequently, the benchmark All Share Index (ASI) of Nigerian equities shed 61bps to close at 29,828.95 points, whilst Market Capitalization declined N62.9bn to close at N10.3tn. Market activity, however, increased as aggregate volume and value of stocks…