Nigeria

Lagos, Nigeria, Capital Markets in Africa — The Nigerian equity market closed southwards today as sentiment swung negative, extending the bearish run in the market which has seen the All Share Index closing negative on 13 out of the last 15 trading sessions. The All Share Index (ASI) declined 64bps today to close at 28,981.12 points whilst YTD loss rose to16.4% – pressured by sell-down pressure in NIGERIAN BREWERIES (-4.1%), ZENITH (-4.0%), FORTE OIL (-2.8%), STANBIC…

Lagos, Nigeria, Capital Markets in Africa — The Nigerian equities market closed soft on the first trading day of the week as investors continue to trade cautiously despite the attractive upside value stocks currently presents. Although sentiment swung positive with more gainers than losers, sell down pressure recorded in blue-chip counters — DANGOTE CEMENT (-0.6%) and NIGERIAN BREWERIES (-0.7%) led to a mild 3bps decline in the benchmark equity All Share Index to 29,168.04 points, whilst…

Lagos, Nigeria, Capital Markets in Africa — Activities in the Nigerian equities market ended almost flat today after the benchmark index slipped by just 1bps at the end of trade to settle at 29,030.97pts. This was against the declines in market bellwethers — NIGERIAN BREWERIES (-0.7%), UNILEVER (-5.3%) and ZENITH BANK (-1.1%). Market capitalization equally declined N505.2m to settle at N10.0tn. Conversely, market activities measured by volume and value rose 57.1% and 45.4% to 285.2m units…

Lagos, Nigeria, Capital Markets in Africa — Loss in the broader index continued today, although moderated relative to previous sessions. Thus, the NSE-ASI closed 7bps lower, settling at 29,032.44ptspts. The fall in the index was against losses recorded in UNILEVER (-5.0%), NESTLE (-0.9%) and MOBIL (-9.8%). Equally, market capitalization contracted N7.0bn to N10.0tn. After investors exchanged 181.6m units of shares worth N2.1bn during trade today, aggregate volume and value rose 8.9% and 82.8% respectively. Sector indices…