Nigeria | - Part 7

African Stock Market February 2016: BRVM Bourse & Kenya Stocks reward local and foreign investors

LAGOS, Nigeria, Capital Markets in Africa —Stronger commodity prices helped most African stock markets to rebound in February. The rally has been sparked by a rebound in commodity prices with gold up 21 percent from its December low. Commodities are rallying amid more optimism over economic growth in China, while negative interest rates in countries like Japan and Switzerland are increasing the appeal of gold as a safe haven. Consequently, African equity market performance measured by country equity benchmark index returns…

Nigerian Equity Markets | 24 Feb 2016: Equities Slide on Banking Stocks Rout… NSE ASI sheds 0.9%

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Lagos, Nigeria, Capital Markets in Africa —The Nigerian bourse closed southwards to extend losses to the 3rd trading session amid sell-offs in banking and consumer goods bellwethers. The All Share Index declined 0.9% settling at 23,883.34 points. The negative market performance was broadly driven by price depreciation in GUARANTY (-3.8%), ZENITH (-5.0%) and GUINNESS (-5.0%). The market lost N68.4bn in value as market capitalization reduced to N8.2tn. Activity level was mixed as volume grew 33.6% while value traded dipped 3.3% to…

Foreign Portfolio Investors are net sellers on the Nigeria’s Bourse in 2015

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Lagos, Nigeria, Capital Markets in Africa — The total transactions at Nigerian Stock Exchange fell 41.72 percent from NGN 189.72 billion recorded in January to NGN 110.56 billion (about US$0.56 billion) in December 2015. This represents a decrease of 13.49% from N127.8 billion recorded in November. Likewise, Foreign Portfolio Investor (FPI) transactions decreased by 33.39 percent from NGN1,538.92 billion recorded at the end of 2014 to NGN 1,025.07 billion at the end of 2015. Out of…

Nigerian Stock Exchange Introduces Circuit Breaker as Stocks Plunge

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Lagos, Nigeria, Capital Markets in Africa —- Nigeria’s stock exchange introduced a circuit breaker to limit price fluctuates (fall/rise). Trading on the Nigerian Stock Exchange will be stopped for 30 minutes if the All Share Index moves 5 percent from the previous day’s close between 10:15 a.m. and 1:45 p.m. (local time), the Lagos-based exchange stated in a statement on its website. The market will close for the day if the circuit breaker is triggered for…

Nigerian Equity Markets | 31 Dec 2015: Equities Close 2015 with Fireworks …NSEASI Appreciates 3.1%

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Lagos, Nigeria, Capital Markets in Africa — The Nigerian equities market All Share Index (ASI) ended the year on a positive note appreciating 3.1% today to settle at 28,642.3pts. Amid intense political tension, tumbling oil prices and macroeconomic pressures in the domestic and global space, the local market benchmark index depreciated 17.4% in 2015 relative to -16.2% in 2014. Market capitalization improved N297.3bn at the end of today’s trade settling at N9.9tn but down by N1.6tn…

Nigerian Equity Markets | 30 Dec 2015: Equities Surge 3.8% Ahead of New Year’s Eve

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Lagos, Nigeria, Capital Markets in Africa — The local bourse ended today’s trading session higher as against a negative performance yesterday. Thus, the All Share Index (ASI) rose 3.8% settling at 27,777.83pts to trim YtD loss to 19.8%. Market capitalization also expanded by N351.5bn to close at N9.6tn. Today’s performance was largely driven by buy sentiment in bellwether stocks such as DANGCEM (+8.6%) and NIGERIAN BREWERIES (+7.8%) as last minute traders position ahead of the New…

Looking into 2016: A Change in Nigerian Market Sentiments, Signs to Watch

Posted on by The Editorial Team

The Nigerian equities market has sustained a bearish run for most of 2015 as issues ranging from a fragile polity, foreign exchange restrictions, stifling monetary policy stance, weakening domestic growth and rising inflationary pressure have weighed in to weaken investor sentiment. While the victory of President Buhari at the polls boosted investor confidence between April and May, the five months of waiting before the eventual inauguration of the cabinet on 11th November 2015 has had a…

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