Nigerian Capital Market

Lagos, Nigeria, Capital Markets in Africa — The Nigerian Bourse showed some signs of recovery today after 2 consecutive days of losses as the Benchmark Index — All Share Index- gained 97 bps to close trading for the week at 29, 689.08points. The improvement in performance today was driven GUINNESS (+10.2%), NIGERIAN BREWERIES (+3.0%) and DANGCEM (+1.8%) as investors gained a total of N94.8bn to bring Market capitalization N10.2tn. Activity level today however weakened as…

Lagos, Nigeria, Capital Markets in Africa — Nigerian Bourse remained weak today as the benchmark equities gauge – All Share Index (ASI) – shed 0.2% to close at 29,403.12 points, while YTD loss rose to –15.2%. Market Capitalization also declined N10.3bn to at N10.1tn. The decline in the benchmark index was against the backdrop of profit-taking in banking stocks – UBA (-8.7%), FBNH (-7.2%), STANBIC (-5.0%) and ETI (-3.2%) and GUARANTY (-1.2%). Market activity measured…

Lagos, Nigeria, Capital Markets in Africa — The Nigerian Bourse halted 3 consecutive days of gains as the Benchmark Index –All Share Index (ASI)- succumbed to heavy sell offs in the market, slumping 2.9% to close for the day at 29,454. 09points. We believe trading activities today were largely driven by panic in the market due to JP Morgan’s announcement to begin the de-listing of Nigerian Government Bonds from its emerging markets bond Index (GBI-EM) by…

Lagos, Nigeria, Capital Markets in Africa — Nigerian equities sustained bullish momentum into the third consecutive trading session after crossing the psychological line of 30,000 points yesterday. The benchmark index advanced 102bps today to close at 30,358.87points, paring YTD loss to 12.4%. Market capitalization also added 105.4bn to close at N10.4tn. The improvement in the benchmark index today was on account of sustained bargain hunting in DANGCEM (+0.8%) and banking counters — ZENITH (+8.8%), STANBIC…

Lagos, Nigeria, Capital Markets in Africa —The Nigerian Equity Market opened the week on a bullish note as investors’ sentiment on the bourse stayed positive. The benchmark equity index – All Share Index (ASI) — appreciated 1.8% to close at 30,052.29 points, further paring YTD losses to -13.3%. Similarly, Market Capitalization rose N181.6bn to close at N10.3tn. The rally in the market today was broadly driven by bargain hunting in DANGOTE CEMENT (+2.9%) and sustained…

Lagos, Nigeria, Capital Markets in Africa — The Nigerian Equities market ended the week stronger, closing the last trading session for the week 0.4% higher after the All Share Index closed at 29,511.08 points. Market capitalisation equally improved N40.3bn to settle at N10.1tn for the week. Today’s gain in index is attributable to appreciations in banking counters — ZENITH (+3.9%), UBA (+10.1%) and FBNH (+5.0%). Market activities were however mixed as volume advanced 1.4% to…