Nigeria

Lagos, Nigeria (Capital Markets in Africa) — The light at the end of the tunnel seemed to be getting dimer on the Nigerian Bourse as the Bears ran the Market riot up until the last few minutes of trading when a sudden rally in DANGCEM (+5.0%) lifted the market. The Benchmark Index- All Share Index- appreciated 0.7% after trading today to settle at 30,112.62 points. Gains recorded in FCMB (+4.0%), WEMA (+3.5%) and ACCESS (+2.4%)…

Lagos, Nigeria (Capital Markets in Africa) — It was a sea of red in the equities market today as the bears extended their rule over the Nigerian Equities market leading the market to close in the red for the day. This was reflected in the 2.6% decline in the All Share Index which closed at 29, 909.44 points today. The market was dragged lower by selloffs in heavily weighted stocks in the index namely, DANGCEM…

Lagos, Nigeria (Capital Markets in Africa) — The Nigerian Equity Market extended losses to the third day as the All Share Index (ASI) dipped 114bps to close at 30,752.63, paring MTD performance +1.9% whilst driving YTD losses rose to -11.3%. The extended bearish run in the market was against the backdrop of sell-down pressure on Banking, Industrial and Consumer Goods bellwether counters: GUARANTY (-4.0%), ZENITH (-2.9%), FBNH (-4.9%), UBA (-8.3%), DANGCEM (-0.6%), and NIGERIAN BREWERIES…

Lagos, Nigeria (Capital Markets in Africa) — The Nigerian Equities market suffered a second consecutive day of losses as the Benchmark Index- All Share Index- declined 0.5% closing the day at 31,107.11 points. Today’s performance was on the back of price depreciations in GUARANTY (-3.0%), STANBIC (-5.0%) and GUINNESS (-3.1%). A total amount of N55.7bn was subsequently lost by investors as market capitalization settled at N10.7tn. Market activity was mixed as total volume traded  improved 54.5%…

Lagos, Nigeria (Capital Markets in Africa) — Following a marginal gain recorded yesterday, Nigerian equities market benchmark index yielded to sell pressure today, as the All Share Index (ASI) dipped 0.6% to berth 31,269.71pts. Today’s bearish outcome was on account of price depreciation in DANGCEM (-0.5%), NIGERIAN BREWERIES (-4.2%) and CONOIL (-9.7%). Market capitalization contracted N60.6bn to settle at N10.7tn. Market activity however improved as volume rose 91.5% to 281.0m units while value surged 102.7% to…

Lagos, Nigeria (Capital Markets in Africa) — The Nigerian equities market opened for the week on a positive note extending its positive performance from the previous week. The Benchmark index – All Share Index- appreciated 1bp to close at 31, 446.42 points as price appreciation in DANGCEM (+2.2%), GUARANTY (+0.6%) and MOBIL (+3.1%) propelled the bourse. Investors’ value increased by N1.6bn hence market capitalization settled at N10.8tn.  However, market activities waned considerably as volume and…

Lagos, Nigeria (Capital Markets in Africa) — The Nigerian Equities market halted gains today following four consecutive days of gains as the Benchmark Index (ASI) eased 17bps to close at 31,441.71 points. The market performance was primarily influenced by price depreciation in banking counters such as STANBIC (-4.1%), GUARANTY (-2.4%) and ZENITH (-1.7%). Thus, investors lost a total of N18.5bn today as market capitalization settled at N10.8tn. Activity level within the market also declined as…