African Stock Markets |

Stock Traders Scarce in Kenya as Poll Crisis Clouds Outlook

NAIROBI (Capital Markets in Africa) – Traders are deserting Kenya’s stock market, a star performer earlier this year, as the unresolved crisis around the country’s presidential election discourages foreign investors. Volumes traded on the Nairobi stock exchange have slumped to the lowest this year, dropping to less than 46 million shares in the week ended Oct. 6 from as high as 285 million in June. Values have also dropped, with $870,000 of shares traded Thursday,…

Nigerian Equity Benchmark Index Rebounds as Mid-Caps Rally… NSE ASI up 0.8%

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The equity market rebounded today from a streak of losses as the broader index appreciated 0.8% to close at 25,471.69 points, paring YTD loss to 5.2% while market capitalization added N71.1bn to settle at N8.8tn. The uptrend in the All Share Index was largely as a result of renewed buy sentiment in mid-cap counters in the Industrial and Oil & Gas sectors – WAPCO (+10.2%), MOBIL (+10.3%) and OANDO(+10.1%) – as well as bargain…

Nigerian Bourse Records Flattish Close… NSE ASI down 3bps

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The local bourse recorded a flattish close as the benchmark index shed 3bps to close at 25,266.15 points while YTD loss stayed at 6.0%. Rally in OANDO (+6.3%) which submitted FY:2016 result late yesterday was offset by a weak appetite for Tier-1 banks – ETI (-3.0%), UBA (-2.3%), GUARANTY (-0.6%) – as well as FORTE (-5.9%) to ensure the flattish close. Accordingly, investors lost N2.4bn as market capitalization settled at N8.7tn. However, activity level surged from yesterday’s low as…

Weak Appetite for Large Caps drag Nigerian Equity Index lower

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The Nigerian equities market started the month of April on a bearish note as the All Share Index recorded a 95bps loss to settle at 25,273.03 points. Performance was dragged by declines inDANGCEM (-2.4%), NIGERIAN BREWERIES (-1.5%) and GUARANTY (-2.4%). Thus YTD loss worsened to –6.0%. Investors lost N84.2bn as market capitalization closed at N8.7tn. Activity level also slowed as volume and value traded declined by 83.5% and 99.3% to 97.7m units and N682.8m…

Bears Strengthen Hold on Nigerian Equities Market…NSE ASI down 69bps

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The bearish sentiment in the local bourse was extended today as sustained profit taking by investors pulled the All Share Index 0.7% lower to 26, 036.24 points while YTD loss worsened to –3.1%. Sell-offs in market bellwethers – NESTLE (- 3.1%), NIGERIAN BREWERIES (-1.6%) and GUARANTY (-1.1%) – were the major drag to performance as market capitalisation also dipped N47.7bn to N9.0tn. However, activity level strengthened as volume and value…

Nigerian Equities Pull Southwards Amidst Profit Takings … NSE ASI down 42bps

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The Nigerian equities market opened the week bearish as the benchmark index dipped 0.4% to settle at 26, 217.18 points while YTD loss worsened to -2.4%. Losses sustained in tier-1 banking stocks as well as other bellwethers – UBA (- 2.7%), GUARANTY (-1.7%) and DANGCEM (-0.6%) – dragged the broader index lower while market capitalisation fell by N38.2bn to N9.0tn. Activity level also waned as volume and value traded…

Nigerian Equities Pare Gains on Bearish Sentiment on Large Cap Stocks …NSE ASI down 5bps

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) -The equities market halted two consecutive days of gains on account of negative sentiment towards bellwether Banking and Consumer Goods counters – ZENITH (-3.5%), NIGERIAN BREWERIES (-1.4%) and 7UP (-5.0%). The Benchmark index settled at 26,217.54 points, down a marginal 5bps while market capitalization declined N4.8bn to close at N9.0tn. Accordingly, YTD return remained at -2.4%. However, market activity was mixed as volume traded dropped 17.9% to 187.7m units and value traded surged 304.3% to N10.4bn…

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