Market Watch | - Part 20

Nigerian Equity Markets | 14 Dec 2016: Equities Rally on Stronger Buy Sentiment, NSE ASI up 1.3%

LAGOS (Capital Markets in Africa) – The bullish sentiment in the Nigerian equity market was sustained as the All Share Index further appreciated 1.3% today to close at 26,407.64 points. Performance was largely driven by price appreciation in DANGCEM (+1.9%), FORTE (+10.2%), SEPLAT (+6.7%) and GUARANTY (+3.0%). Consequently, market capitalization grew N115.7bn to close at N9.1tn. Activity was however mixed as volume traded declined 45.5% to 205.3m units and value traded surged 77.4% to N4.3bn with a total of 3,275 deals. Consumer Goods…

Nigerian Equity Markets | 13 Dec 2016: Nigerian Bourse Sustains Bullish Sentiment… NSE ASI up 1.0%

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LAGOS (Capital Markets in Africa) – The positive performance in the Nigerian equities market was extended into the fourth consecutive trading session as the All Share Index (ASI) rose 1.0% to close at 26,071.16 points. Accordingly, market value improved by N87.2bn as market capitalization rose to N9.0tn. Market performance was majorly buoyed by gains in SEPLAT (+10.3%), FORTE (+10.2%) and GUARANTY (+2.0%). Market activity also surged as volume and value traded rose 247.1% and 47.3% to close at 376.7m units and…

Top Ghana Fund Sees Yields Headed for 2-Year Low After Election

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ACCRA (Capital Markets in Africa) – Ghana’s uncontested presidential vote will probably help spur the yield on its dollar debt to the lowest level since 2014, according to the nation’s biggest private fund manager. “Given the decisiveness of the numbers and how widely apart they are, it just shows investors that there’s no need to continue to price in any risk of a potential dispute,” said Courage Kingsley Martey at Accra-based Databank Group Ltd, the…

Nigeria Capital Markets Update Week Ending Dec 9 2016

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Equities Market Review and Outlook The Nigerian equities market sustained a positive outing for the second consecutive week as the benchmark index rose 0.3% W-o-W to settle at 25,817.69 points. The All Share Index (ASI) recorded marginal gains on all trading days of the week save for Tuesday when the ASI dipped 0.3% on account of profit taking. Overall performance was largely driven by significant interest in FORTE (+62.8%) which touched a record low in…

Nigeria: Contraction in Household Spending Drags Half Year 2016 GDP by Expenditure

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LAGOS (Capital Markets in Africa) – The National Bureau of Statistics (NBS) late last month released Q1 and Q2 2016 GDP by expenditure data. Expectedly, the data showed the economy on a sticky wicket, which is in line with observations from supply side computations released for the two-quarters much earlier in the year. However, the statistics give us a better view of structural and cyclical demand-side drivers of the business cycle. For the two quarters,…

Nigerian Equity Markets | 5 Dec 2016: Equities Close Flat despite Sustained Rally in Oil & Gas Stocks… NSE ASI up 1bp

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LAGOS (Capital Markets in Africa) – The equities market closed flat today as a sustained rally in Oil & Gas stocks offset sell-offs in Industrial Goods and Banking equities. Consequently, the All Share Index gained a marginal 1bp to close at 25,743.03 points while market capitalisation added N758.6m to settle at N8.9tn; thus ensuring the rebound in equities which began last week after a prolonged period of intense sell pressure was sustained. The major buffers to…

Nigeria Capital Markets Update Week Ending Dec 2 2016

Posted on by The Editorial Team

Equities Market Review and Outlook The local Bourse opened the week bearishly but trended northwards by mid-week and sustained uptrend till Friday, driving the ASI up 1.6% W-o-W. This bucked 6 consecutive weeks of losses. Interestingly, mid-week rebound in the market coincided with developments in the oil market where OPEC members reached an agreement to cut production by 1.2mb/d. The announcement already triggered a rally in oil prices to US$54.1/b. The uptrend in the ASI…

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