Nigerian Stock Market

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…

Lagos, Nigeria (Capital Markets in Africa) — The Nigerian equities market continued its negative strides into the eleventh session as the All Share Index (ASI) dipped further by 1.3% to settle at 30,970.51pts. In like manner, market capitalisation also fell N137.4bn to close at 10.6tn. Against the gloomy investor sentiments in the equities market, price decline in bellwether consumer goods (NIGERIAN BREWERIES) and industrial goods (DANGOTE CEMENT) counters led to the further decline in the…

Lagos, Nigeria (Capital Markets in Africa) —The release of negative inflation numbers (Headline 9.2% y/y) further dampened investors sentiment today(ASI –0.81%), extending the index loss for the tenth consecutive session. Tier I banks were the most hit as investors offloaded shares of Zenith(-3.97%), Guaranty(-1.53%) and FBNH(-1.52%). On the flip side, a combination of foreign buying and thinning offers helped lift prices of ETI(+2.69%) and UBA(+2.38%). Consumers were also down, Flourmill(-4.85%), NB(-0.60%) and UACN(-0.73%) dropped amid…