Nigeria | - Part 26

Nigeria Market Watch | May 18th 2015:Nigerian Equities Market opens High

Lagos, Nigeria (Capital Markets in Africa):- The Nigerian Bourse opened the week on a positive note, extending the uptrend observed in recent sessions to the fourth consecutive day. The Nigerian All Share Index added 99bps to berth at 34,781.5 points. The positive close was broadly driven by gains recorded in FORTE OIL (+9.1%), ZENITH (+2.7%) and GTBANK (+1.7%). Market Capitalization followed suit, improving by N120.2bn to close at N11.8tn. Market activity also strengthened as volume and…

Nigeria Market Watch: Week Ending 15th May, 2015

Posted on by The Editorial Team

Weekly Equities Market Review and Outlook After posting marginal losses on all trading days in the previous week, the All Share Index (ASI) showed mixed performances this week. Though the index recorded declines on the first two trading days this week, the equities market closed the week positive (+0.1%) W-o-W as bargain hunting positioning drove the index northwards in the last three trading days of the week. Market capitalization also added N18.6bn W-o-W to settle…

Nigeria Market Watch | May 15th 2015: Nigerian stock market 7bps up today

Posted on by The Editorial Team

Lagos, Nigeria (Capital Markets in Africa):- The Nigerian stock market advanced further, up 7bps today to close at 34,439.52 points. All share index sustained uptrend on the last three trading days of the week bringing W-o-W return to 0.1%. In the same vein market capitalization advanced N7.9bn to close at N11.7tn. The positive performance on the Nigerian Bourse was largely driven by appreciation in FORTE OIL (+8.5%) and NIGERIAN BREWERIES (+0.8%). Market activity as measured by…

Nigeria Market Watch | May 14th 2015: Nigerian equity market sustains uptrend…

Posted on by The Editorial Team

Lagos, Nigeria (Capital Markets in Africa):- Bargain hunting positioning in bellwether equities ensured a bullish close in the Nigerian equities market for the second consecutive trading session. The All Share Index rose 61bps to 34,416.29 points while market capitalization gained N71.8bn to close at N11.7bn. Month-to-date (MTD) loss of the benchmark index hence pared to 0.8%. Appreciation in FORTE OIL (+5.0%), ZENITH (+3.3%), GUARANTY (+1.0%) and DANGOTE CEMENT (+0.6%) drove positive market performance today. Market activity…

Nigeria Market Watch | May 13th 2015: Bulls Resurface after 7-Day Bear Dominance

Posted on by The Editorial Team

Lagos, Nigeria (Capital Markets in Africa):- The Nigerian Equities Market closed 27bps higher today after seven days of consecutive losses. The gain recorded brought the index level to 34,208.30 points driven majorly by investor rally in Banking counters – ZENITH (+2.5%) and GTBANK (+2.0%). Similarly, market capitalization improved N31.5bn to close at N11.6tn. Market activity was however mixed as volume declined 33.3% to settle at 350.7m units while value advanced 1.9% to peg at N3.4bn. Banking…

Nigeria Market Watch | May 12th 2015: Nigerian Equity All Share Index pares 66bps

Posted on by The Editorial Team

Lagos, Nigeria (Capital Markets in Africa):- There is no respite yet for Nigerian Equities as the market extended its losing streak with the benchmark index shedding 66bps today to close at 34,115.49 points. Consequently, Month-to-date performance inched further southwards to 1.7%. The extended bearish run remained hinged on the bleak macroeconomic picture dampening sentiment for equities, most especially in relation to the policy direction of the incoming administration. Against this backdrop, investors further took profit in…

Nigeria Market Watch | May 11th 2015: Nigerian Equities Extend Bearish Run

Posted on by The Editorial Team

The Nigerian Equities Market opened the week on a bearish note as the All Share Index (ASI) extended its bearish run to the sixth day. The ASI dipped 13bps to close at 34,342.07 points while market capitalization also shed 0.1% to N11.7tn. Today’s performance was amidst sell pressure in some banking stocks – UNITY (-9.5%) and ZENITH (-1.4%) – and profit-taking in ETI (-5.0%). Sell pressure dragged the ASI down to 34,213.25 points at Mid-day…

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