Nigeria

Lagos, Nigeria (Capital Markets in Africa) — The Nigerian Equities Market halted its recent run of losses today as the Benchmark Index — All Share Index- marginally improved at the close of trading. The ASI appreciated 0.3% to close at 31, 047.99 points. This improvement in performance was broadly due to gains recorded in banking counters as ETI (+8.2%), ACCESS (+4.8%) and GUARANTY (+1.7%) led the charge. Similarly, market capitalization improved N51.0bn berthing at N10.6tn…

Lagos, Nigeria (Capital Markets in Africa) — The Nigerian equities market continued its negative strides into the eleventh session as the All Share Index (ASI) dipped further by 1.3% to settle at 30,970.51pts. In like manner, market capitalisation also fell N137.4bn to close at 10.6tn. Against the gloomy investor sentiments in the equities market, price decline in bellwether consumer goods (NIGERIAN BREWERIES) and industrial goods (DANGOTE CEMENT) counters led to the further decline in the…

Lagos, Nigeria (Capital Markets in Africa) —The release of negative inflation numbers (Headline 9.2% y/y) further dampened investors sentiment today(ASI –0.81%), extending the index loss for the tenth consecutive session. Tier I banks were the most hit as investors offloaded shares of Zenith(-3.97%), Guaranty(-1.53%) and FBNH(-1.52%). On the flip side, a combination of foreign buying and thinning offers helped lift prices of ETI(+2.69%) and UBA(+2.38%). Consumers were also down, Flourmill(-4.85%), NB(-0.60%) and UACN(-0.73%) dropped amid…

Lagos, Nigeria (Capital Markets in Africa) — Overall market performance indicators, the NSE All Share Index and market capitalisation, declined by 0.32% each to 31,628.20 points and N10.80 trillion respectively. This was amid a 38% increase in the total value traded N5.4 billion, with commercial banking giant, Zenith Bank accounting for over 50%. Dangote Cement and Nestle Nigeria accounted for about 25% and 8% of the total value traded respectively. Commercial banking concern, Unity Bank…

Lagos, Nigeria (Capital Markets in Africa) — The Nigerian Bourse capped off a week of poor performance by extending its bearish run to the last trading day of the week. The All Share Index fell 0.1% to close at 31,729 points. The market was dragged by losses in UNILEVER (-5.0%), FORTE OIL (-2.8%) and NIGERIAN BREWERIES (-0.7%). A total of N8.8bn was lost by investors as market capitalization declined to N10.8tn. However, market activity was…

Lagos, Nigeria (Capital Markets in Africa) — Sell-offs in the Nigerian Equities market moderated today causing the broader index to close at 31,768.23pts after dropping 82bps. Following the trend, market capitalisation also dipped N90.0bn to N10.8tn. The decline in index was due to the losses sustained in Oil & Gas and Consumer Goods blue chips — FORTE OIL (-5.0%) and GUINNESS (5.0%) respectively. Conversely, market activities measured by the volume and value of shares traded…