Nigerian Capital Market

Lagos, Nigeria (Capital Markets in Africa) — The Nigerian Bourse dipped 63bps at the close of market as the All Share Index (ASI) berthed at points, hence YTD loss settled at -11.7%. Today’s decline was attributed to persistent bearish sentiment on counters such as ZENITH (-2.8%), NIGERIAN BREWERIES (-1.5%) and GUARANTY (-1.5%). Similarly, Market capitalization shed N66.1bn to close at N10.5tn. Market activity on the other hand improved as volume and value rose 191.5% and…

Lagos, Nigeria (Capital Markets in Africa) — The Nigerian Bourse benchmark index (ASI) continued southwards, shedding 0.9% to berth at 30,807.54pts. This pulled YTD return lower to –11.1%. Performances of some largely capitalized counters such as NIGERIAN BREWERIES (-3.3%), ZENITH (-3.0%) and GUARANTY (-1.7%) were accountable for the decline in the ASI today. Market capitalization contracted N120.9bn and closed N10.6tn. However, market activity strengthened as volume and value traded improved 38.8% and 28.2% to 184.2m…

Lagos, Nigeria (Capital Markets in Africa) — The index remained bearish today as recent results failed to lift the pessimistic mood even as economic uncertainties weighed deeper(ASI -0.40%). Consumer names were the biggest drag, PZ(-3.33%), Flourmill(-2.98%) and NB(-1.56%) all dropped on increased selling pressure, NB particularly closed below a two-and-a-half year low at N126.99. Financials ended somewhat mixed albeit the overall sentiment was still bearish, Zenith(-1.24%) slipped lower in oversold territory as offer volumes continue…

Lagos, Nigeria (Capital Markets in Africa) — The equities market extended yesterday’s decline, as the benchmark index (ASI) slipped 0.2% to close at 31,216.72 points. Thus, YTD return depreciated to 9.9%. Also Market capitalization waned N18.2bn to berth at N10.7tn. Market performance for the day was mainly driven by price depreciations in banking and consumer goods stocks such as ZENITH (-0.5%), STANBIC (-2.1%) and UNILEVER (-2.1%).  Market activity was however mixed as volume traded eased…

Lagos, Nigeria (Capital Markets in Africa) — The Nigerian equities market retreated from 2 days of consecutive gains, as the All Share Index (ASI) shed 22bps to close at 31,267.25 points, driving YTD losses to 9.8%. Market Capitalization also declined N22.2bn to N10.6tn. The negative close of the market today is against the backdrop of extended sell-offs in Banking counters — ETI (-5.0%), UNITY BANK (-5.0%), FBN HOLDINGS (-3.6%), GUARANTY (-0.9%) and FCMB (6.3%). Market activity also softened (due to high base effect of yesterday) as volume…

Lagos, Nigeria (Capital Markets in Africa) — The Nigerian equities market sustained uptrend as investors engaged in bargain hunting on the second trading day of the week. The ASI appreciated 92bps to close at 31,334.79 points. Similarly, market capitalization also added N98.2bn to close at N10.7tn. This was on the back of gains recorded in bellwether Consumer Goods, Oil & Gas and Industrial Goods stocks — NIGERIAN BREWERIES (+1.1%), NESTLE (+2.0%), OANDO (+10.2%) and DANGOTE…

Lagos, Nigeria (Capital Markets in Africa) — The Nigerian Equities Market halted its recent run of losses today as the Benchmark Index — All Share Index- marginally improved at the close of trading. The ASI appreciated 0.3% to close at 31, 047.99 points. This improvement in performance was broadly due to gains recorded in banking counters as ETI (+8.2%), ACCESS (+4.8%) and GUARANTY (+1.7%) led the charge. Similarly, market capitalization improved N51.0bn berthing at N10.6tn…