Stock | - Part 2

Nigerian Equity Markets | 23 Nov 2016: Bulls Creep into The Market … NSE ASI up 21bps

LAGOS (Capital Markets in Africa) – The hunt for a bargain in value counters halted the erstwhile unrelenting negative performance of the benchmark index as the NSEASI gained 21bps to close at 25,517.00 points at the end of the trade. Accordingly, market capitalization advanced by N19.2bn to settle at N8.8tn. Today’s positive performance was largely as a result of bargain hunting in NESTLE (+1.3%), GUARANTY (+1.2%), PZ (+4.9%) and NIGERIAN BREWERIES (+0.2%). Market activity was…

Egypt Market Watch | Nov 23 2016: Egypt’s bourse closes on positive note

Posted on by The Editorial Team

Cairo (Capital Markets in Africa) – The Egyptian Exchange (EGX) indices moved higher collectively to close on a positive note on Wednesday, while the market capitalization added EGP 4.8 billion amid buying activity by foreign investors. The benchmark index EGX30 added 0.26% or 30.51 points to close at 11,550.1 points. The small and medium caps index EGX70 went up 1.71% to close at 445.9 points, while the broader index EGX100 added 1.71% to close at…

Nigerian Equity Markets | 22 Nov 2016: Extend Losing Streak to 8th Session… NSE ASI Down 17bps

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The equities market continues to post losses as the All Share Index (ASI) closed lower for the 8th consecutive session. The ASI declined 17bps today to close at a 7-month low of 25,462.28 points, bringing YTD loss of the index to 11.1%. Market capitalization also dipped N12.9bn to settle at N8.8tn as overall performance was weighted down by sell pressure in FORTE (-9.7%), TOTAL (-5.0%) and PZ (-3.3%). However,…

Nigeria Capital Markets Update Week Ending Nov 18 2016

Posted on by The Editorial Team

Equities Market Review and Outlook The bearish trend in the local bourse was unrelenting this week in continuation of last week’s performance as the equities market closed in the red on all trading days owing to negative sentiment towards large cap stocks across sectors. Accordingly, the All Share Index (ASI) fell 2.4% W-o-W to settle at 25,537.54 points whilst YTD return worsened to -10.8%. Market capitalization also contracted N218.1bn to close at N8.8tn. The benchmark…

Nigeria Capital Markets Update Week Ending Nov 11 2016

Posted on by The Editorial Team

Equities Market Review and Outlook Unperturbed by events in the global political environment, the Nigerian equities market maintained its bearish momentum. The local Bourse closed lower all through the week save for Thursday due to strong interest in Banking Stocks. Consequently, the All Share Index (ASI) slumped 3.0% W-o-W in contrast to the dramatic surge in share prices in major exchanges around the world. The weak performance of the benchmark index was driven by heavy…

Nigeria Capital Markets Update Week Ending Nov 04 2016

Posted on by The Editorial Team

Equities Market Review and Outlook Sentiments in the Nigerian equities market remained bearish during the week amid an influx of unimpressive Q3:2016 earnings releases as the All Share Index (ASI) slid 1.1% W-o-W while YTD loss worsened to -5.8%. Market capitalization contracted to N9.3tn as investors lost a total of N86.4bn. On Monday, the market halted its 3-day gaining streak, ending the month of October on a negative note, down 4.1% M-o-M. However, investors took…

Egypt’s longer suspension of capital gains tax will spur more investment

Posted on by The Editorial Team

CAIRO (Reuters) – The head of Egypt’s stock exchange said on Wednesday the decision to extend the suspension of capital gains tax on shares will attract investment and boost IPOs in the market. Egypt’s Supreme Investment Council opted on Tuesday to prolong for three years a freeze of a 10 percent tax on gains from shares first imposed in July 2014 as part of moves to replenish depleted state coffers. Egyptian blue chip shares rose on…

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