Nigeria | - Part 6

Nigerian MSCI Exit May Risk $500 Million Holdings, RenCap Says

Lagos, Nigeria, Capital Markets in Africa — MSCI Inc.’s decision to consider dropping Nigeria from its Frontier Markets Index has put $500 million of stock investments in Africa’s biggest economy under threat, according to Renaissance Capital Ltd. Investors following the index have $500 million staked in Nigeria, half what they would have if they were properly tracking the benchmark, and those holdings are “under threat” should MSCI exclude Nigeria, according to Charles Robertson, chief economist at…

African Stock Market March 2016: Bull rules, Egyptian equities rewards local investors with 22.4% gains

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa — The Federal Reserve’s dovish stance on U.S. interest rates and a rebound in commodity prices fuelled an African-market rally in March, leading currencies to record monthly gains against the dollar. African equity market performance measured by country equity benchmark index returns ended in positive for the month, with eleven gainers and seven losers on the local currency basis. March’s average return of 2.3 percent was recorded across eighteen African…

Nigeria | Investors show confidence in Nigerian shares

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LAGOS, Nigeria, Capital Markets in Africa — Total transactions at the Nigerian Stock Exchange (NSE) rose from N84.10 billion recorded in January 2016 to N117.27 billion (about $0.60 billion) in February 2016 (about 39.44% increase), according to data released by NSE. However, comparing to the same period in 2015, total transactions decreased by 36.44% from the N184.49 recorded in February 2015. The data also highlighted that domestic investors significantly outperformed foreign investors by 27.04%. Domestic…

Nigerian Equity Markets | 21 Mar 2016: Positive Streak Extends to 3rd Consecutive Day…NSE ASI up 81bps

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LAGOS, Nigeria, Capital Markets in Africa –— The Nigerian Equities market started the week on a positive note, extending the streak of gains in the benchmark index to the third consecutive trading day. Despite the general negative sentiments, investors still see value in some Bellwethers trading at attractive entry prices. Consequently, the All Share Index improved 0.8% to close at 25,902.95 points. Bargain hunting in GUARANTY (+4.5%), ZENITH (+3.1%) and DANGCEM (+1.8%) lifted the market into…

Nigerian Equity Markets | 15 Mar 2016: Nigerian Bourse Closes Lower on Profit Warning… NSE ASI down 0.4%

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LAGOS, Nigeria, Capital Markets in Africa — At the end of today’s trading session, the All Share Index declined 0.4% to close at 24,745.13 points as the Nigerian bourse continued its retreat into the negative zone. Congruent to the ASI, market capitalization also declined N37.3bn to settle at N8.9tn. Today’s decline was driven by price depreciation in key Banking counters such as ETI (-9.7%), DIAMOND (-8.8%) and GUARANTY (-2.5%) as ETI issued a profit warning…

Foreign and Local Investors abandon Nigerian Stocks ….

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LAGOS, Nigeria, Capital Markets in Africa — Total equity transactions at the Nigerian Stock Exchange decreased by 23.93% from N110.56 billion recorded in December 2015 to N84.1 billion (about US$0.43 billion) in January 2016. In comparison to the same period in 2015, total transactions decreased by 55.67% from the N189.72 recorded in January 2015, the figure released by the bourse. In addition, domestic investors conceded about 3.14% of trading to foreign investors as domestic transactions…

Nigerian Equity Markets | 09 Mar 2016: Market Upturns Yesterday’s Bearish Performance…NSE ASI Gain 0.5%

Posted on by The Editorial Team

Lagos, Nigeria, Capital Markets in Africa — The Nigerian equities market reversed yesterday’s bearish performance as the All Share Index appreciated 0.5% to close at 25,885.31 points. Market capitalization, in turn, increased N46.8bn to close at N8.9tn lessening YTD loss to 9.6%. Today’s positive performance was on account of bargain hunting in DANGCEM (+0.5%) and ZENITH (+1.7%) – both Industrial Goods and Banking bellwethers respectively. However, activity level waned as volume and value traded dipped…

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