Nigeria

Lagos, Nigeria (Capital Markets in Africa):- The Nigerian equity market continued exhibiting a sideways trading pattern as the market pulled back from last Friday’s strong close, shedding 22bps today to close at 33,590.48 points. This was against the backdrop of losses suffered by large caps across the Banking, Oil & Gas and Consumer Goods sectors — GUARANTY (-0.8%), ZENITH BANK (-0.9%), OANDO (-3.7%), NESTLE (-0.5%) and GUINNESS (-3.0%). Activity level however surged as aggregate volume and…

Lagos, Nigeria (Capital Markets in Africa):- The Nigerian All Share index closed the week positive, up 0.6% to close at 33,664.91pts. Market Capitalization also added N67.8bn berthing at N11.5tn. Today’s gain was consequent on appreciations in Banking and Oil & Gas counters — ZENITH BANK (+3.7%) and FORTE OIL (+3.8%) respectively. Market activities was mixed as volume traded softened 3.6% to close 198.4m units while value rose 14.2% to settle at N2.5bn. Divergent from yesterday’s performance,…

Lagos, Nigeria (Capital Markets in Africa):- The Nigerian Equities market sustained its losing streak today, declining 1.2% to berth at 33,476.77pts. Market capitalization also decreased N88.6bn to settle at N11.4tn. Performance of the equities market today was broadly driven by price depreciations in banking bellwethers — ZENITH (-4.8%), UBA (-3.6%) and GUARANTY (-2.4%). Similarly, market activities weakened, as volume and value traded shrank 18.5 %( 205.8m units) and 35.9 %( N2.2bn) accordingly. NSE sector performance was…

Lagos, Nigeria (Capital Markets in Africa):- The gain recorded on the Nigerian bourse yesterday was not sustained during today’s trade as the All Share Index (ASI) declined 54bps to close at 33,879.21pts. Hence, investors lost the sum N62.1bn as market capitalisation settled at N11.5tn. Today’s decline was majorly driven by declines in the Oil & Gas and Banking baskets — FORTE OIL (-5.0%) and GUARANTY (-3.7%) respectively. Market activities were however mixed as volume improved by…

Lagos, Nigeria (Capital Markets in Africa):- Despite a presidential silence on key policy direction and appointment of key cabinet members, the Nigerian All Share index (ASI) added 5bps today as against previous session to close at 34,061.89 points. Today’s gain was broadly driven by price appreciation in Consumer Goods tickers such as NIGERIAN BREWERIES (+2.0%) and UNILEVER (+0.9%). Market capitalization advanced N5.9bn to close N11.6tn while activity level measured by volume and value decreased 34.2% and…

Lagos, Nigeria (Capital Markets in Africa):- The Nigerian Bourse fell 0.8% at the close of market today and berthed at 34,044.65 points. Today’s decline was largely due to price depreciation in NIGERIAN BREWERIES (-2.1%) and ZENITH BANK (-2.5%). Market capitalization shed N90.3bn to close at N11.6tn. Market activity also weakened as volume and value dropped 52.1% and 53.9% to dock at 340.6m units and N5.5bn respectively.  The Industrial sector Index rose marginally by 1bps as ASHAKA CEMENT added 0.3%. All other sectors closed…