Markets

Nigerian Bourse Extends Losses

The Nigerian Bourse extended losses to the second consecutive session as the All Share Index moderated 8bps to close at 36,641.52 points on Wednesday while YTD return weakened to 36.3%. Likewise, market capitalization declined by N9.7bn to settle at N12.6tn on the back of pull-backs in  Tier-1 - ACCESS (-2.2%), UBA (-1.5%) and ZENITH (-0.5%). Activity level softened as volume and value traded fell 6.0% and 0.4% to settle at 198.6m units and N2.9bn respectively.

Negative Sector Performance Continues

Market Halts Bullish Trend

A 3-day upward trend was reversed at the close of trade on Tuesday as the All Share Index (ASI) fell 82bps to close at 36,669.61 points –implying a moderation in YTD return to 36.4%. Accordingly, investors lost N103.8bn as market capitalization settled at N12.6tn primarily due to losses in DANGCEM (-1.8%), NESTLE (-3.3%) and GUARANTY (-1.0%). Despite the 1.4% drop in volume to N211.9m units, total value of trades increased dramatically, rising 73.6% from N2.7bn to N4.7bn.

All Indices Close in the Red

Market Opens Week Positive

The Nigerian Bourse opened this week in the green as the All Share Index (ASI) rose 0.3% to 36,971.27 points, pushing YTD return to 37.6%. In line with the performance, market capitalization increased by N42.4bn to close at N12.7tn while activity level improved as volume and value traded expanded 34.7% and 21.8% to 215.0m units and N2.7bn respectively. Today’s uptick can largely be attributed to ZENITH (+3.1%), DANGCEM (+0.2%) and GUARANTY (+0.2%).

Banking Sector Leads the Way

Local Bourse Rebounds from Losing Streak

The Nigerian equities market reversed a 2-day downtrend today as the All Share Index (ASI) advanced 0.2% to 36,732.24 points while YTD return increased to 36.7%. Consequently, market capitalization added N27.3bn to settle at N12.6tn. Today’s positive performance was majorly due to buy interest in NIGERIAN BREWERIES (+0.6%), NESTLE (+0.7%) and STANBIC (+2.9%). In the same vein, activity level improved as volume and value traded spiked 31.9% and 73.1% to 443.7m units and N3.2bn respectively.

Banking Index Emerges Lone Sector Loser

Profit Taking Drags Benchmark Index Lower

Performance of the Nigerian Equities market was dragged by profit taking as the All Share Index (ASI) slid 34bps to 36,652.82 points while the YTD gain moderated to 36.4%. Likewise, market capitalization trimmed N42.6bn to N12.6tn. Losses in NIGERIAN BREWERIES (-2.9%), UBA (-1.7%) and STANBIC (-2.3%) were the major drags to today’s performance. Similarly, activity level worsened as volume and value traded shrank 4.7% and 43.6% to 336.4m units and N1.8bn respectively.

Insurance Index Leads Gainers

Local Bourse Sustains Gain for Fourth Consecutive Session

The equities market closed higher for the fourth consecutive session on Monday as the All Share Index (ASI) improved 1.4% to settle at 36,831.93 points, while YTD gain expanded to 37.1%. Investors in turn gained N175.9bn as market capitalization stood at N12.7tn. The major drivers of today’s performance were DANGCEM (+2.9%), GUARANTY (+3.2%) and ZENITH (+0.9%). Contrarily, activity level waned as volume and value traded dipped 28.6% and 20.0% to 262.2m units and N3.0bn respectively.

All Sector Indices Close in the Green

Weekly Equity Market Review and Outlook

Sentiment on the Nigerian Bourse this week was broadly positive as the All Share Index gained on 3 of 4 sessions to close at 36,320.98 points, indicating a 2.5% gain W-o-W and a YTD return of 35.1%. In turn, market capitalization increased by N285.3bn to settle at N12.5tn. The week started off on a negative note, closing 0.4% lower on Tuesday as investors took profit in stocks that had gained in prior week.

Bargain Hunting Drives Benchmark Index Higher

The equities market rebounded at the end of Wednesday’s trade as the All Share Index (ASI) expanded 15bps to close at 35,358.6 points while YTD return increased to 31.6%. ZENITH (+1.6%), UBA (+2.4%) and STANBIC (+1.2%) were the major drivers of today’s performance. However, activity level softened as volume and value traded fell 72.6% and 53.0% to 174.1m units and N2.7bn respectively.

Mixed Performance across Sectors

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