Nigeria

Lagos, Nigeria, Capital Markets in Africa — Nigerian equities sustained bullish momentum into the third consecutive trading session after crossing the psychological line of 30,000 points yesterday. The benchmark index advanced 102bps today to close at 30,358.87points, paring YTD loss to 12.4%. Market capitalization also added 105.4bn to close at N10.4tn. The improvement in the benchmark index today was on account of sustained bargain hunting in DANGCEM (+0.8%) and banking counters — ZENITH (+8.8%), STANBIC…

Lagos, Nigeria, Capital Markets in Africa —The Nigerian Equity Market opened the week on a bullish note as investors’ sentiment on the bourse stayed positive. The benchmark equity index – All Share Index (ASI) — appreciated 1.8% to close at 30,052.29 points, further paring YTD losses to -13.3%. Similarly, Market Capitalization rose N181.6bn to close at N10.3tn. The rally in the market today was broadly driven by bargain hunting in DANGOTE CEMENT (+2.9%) and sustained…

Lagos, Nigeria, Capital Markets in Africa — The Nigerian Equities market ended the week stronger, closing the last trading session for the week 0.4% higher after the All Share Index closed at 29,511.08 points. Market capitalisation equally improved N40.3bn to settle at N10.1tn for the week. Today’s gain in index is attributable to appreciations in banking counters — ZENITH (+3.9%), UBA (+10.1%) and FBNH (+5.0%). Market activities were however mixed as volume advanced 1.4% to…

LAGOS, Nigeria, Capital Markets in Africa — The Nigerian bourse extended the previous day’s loss to today as the All share Index (ASI) fell 1.6% to close 29,393.77pts. Market capitalization also shed 164.1bn to close at 10.1tn. The decline in the ASI is attributable to further depreciations recorded in bellwether stocks such as DANGCEM (-5.0%), WAPCO (-4.0%) and NESTLE (-1.2%). Similarly, market activities measured by volume and value declined 37.8% to 273.7m units and 36.1% to N2.9bn respectively. Sector indices were…

Lagos, Nigeria, Capital Markets in Africa — The Nigerian All Share Index took a negative turn today, down 1.2% to close at 29,870.86pts after a 4-day rally. The decline in the broader index was consequent on losses recorded in sector bellwethers — GUARANTY (-3.4%), NIGERIAN BREWERIES (- 1.7%) and OANDO (-5.0%). Similarly, market activities measured by volume and value of shares traded waned 53.1% to 439.7m units and 39.4% to N4.5tn respectively. After posting gains…

Lagos, Nigeria, Capital Markets in Africa —The Nigerian Equities Market sustained its positive momentum as the benchmark equity index — All Share Index (ASI) – closed positive for the fourth day. The ASI gained 1.8% to close at 30,225.34, paring YTD losses to 12.8%. Market capitalization also added N185.9bn to close at N10.4tn. Today’s bullish performance was mainly due to further bargain hunting in bellwether Banking, Industrial and Consumer Goods counters — GUARANTY (+6.9%), STANBIC…

Lagos, Nigeria (Capital Markets in Africa — The Nigerian bourse drove closer to the 30,000pts psychological level today, starting the week on positive note. The All Share Index (ASI) surged 3.0% (the highest in since the Buhari rally in 2nd of April 2015) to settle at 29,684.84pts at the close of trade. Market capitalization also improved N299.3bn to berth at N10.2tn. Notably, the gain in the ASI was driven by large swings recorded in NIGERIAN…