Markets

Nigerian Bourse Halts 4-Day Bearish Trend

The Nigerian equities market halted a 4-day bearish run today as increased buying interest in FMCGs as well as Tier-1 banks buoyed performance of the benchmark index, up 12bps to 25,485.17points, while YTD loss trimmed marginally to -5.2%. Buying interest in UNILEVER (+5.0%), UBA (+2.0%), STANBIC (+1.6%) and ACCESS (+1.5%) supported the positive performance while market capitalisation increased N11.2bn to N8.8tn. Similarly, activity level strengthened as volume and value traded rose 295.4% and 56.9% to 561.5m units and N2.5bn respectively.

Equities Close Flat Despite Positive Sentiment

The Nigerian equities market closed flat on Thursday as the benchmark index lost a marginal 0.1bp to close at 25,514.03 points while YTD loss performance remained at 5.1%. Today’s flattish close was as a result of sell pressure in SEPLAT (-9.7%) and profit taking in ACCESS (-3.6%) and ZENITH (-1.5%), which offset the gains in WAPCO (+8.5%) and GUARANTY (+1.1%). Accordingly, investors lost N23.4m, bringing market capitalization to N8.8tn. Market activity also moderated as volume and value traded fell 42.1% and 44.0% to settle at 115.1m units and N1.4bn respectively.

Bears Extend Hold to Second Day at the Exchange

The Nigerian equities market extended losses to the second trading day on Wednesday as sell pressure on bellwethers dragged the All Share Index 0.2% southwards to 25, 514.17points while YTD loss widened to –5.1%. GUARANTY (-1.1%), STANBIC (-4.3%) and NESTLE (-1.3%) were the major drags to performance as market capitalisation trimmed N15.4bn to N8.8tn. However, activity level strengthened as volume and value traded rose 29.4% and 68.4% to 198.8m units and N2.5bn respectively.

WAPCO Releases FY:2016 Result

Selloff Halts Bullish Run as MPC Maintains Status-quo

The Nigerian bourse halted its 5 session bullish streak on Tuesday as the Benchmark index closed in the red at the end of today’s trading session. The NSE ASI declined 0.4% to close at 22,558.57 points whilst YTD return worsened to -4.9%. Similarly, market capitalization dipped N39.1bn to close at N8.8tn. Today’s negative close was largely as a result of selloffs in Tier-1 Banking stocks – ZENITH (-2.5%), GUARANTY (-1.3%), ETI (-4.1%) and UBA (-2.9%).

Stock Market Remains Bullish

The Nigerian equities market continued its bullish run, albeit at a slower pace as the benchmark index closed in the green for the 5th consecutive trading session. The NSE ASI rose 7bps to close on Monday at 25,671.55 points whilst YTD return held steady at -4.5%. Similarly, market capitalization improved N3.9bn to settle at N8.9tn. Today’s marginal uptrend was largely driven by the appreciation in GUARANTY (+3.2%), NESTLE (2.7%) and MOBIL (+5.0%) which more than offset the impact of the decline in DANGCEM (-0.6%), GUINNESS (-5.0%), ZENITH (-0.9%) and ACCESS (-2.2%).

Bulls Retain Territory at the Exchange

Photo L-R: Tinuade Awe, General Counsel & Head, Regulation, The Nigerian Stock Exchange (NSE); Olumide Orojimi, Head, Corporate Communications Department, NSE; Boluwatiwi Omidiji, CSR Analysts, NSE; Godstime Iwenekhai, Acting Head, Listings Regulation, NSE; Pai Gamde, Acting Head, Corporate Services Division, NSE and Douglas Kativu, Director GRI Africa at the Governance and Sustainability Disclosure Seminar in Lagos on Thursday.

Bulls Retain Hold of the Market

The Nigerian equities market remained upbeat at the end of Wednesday’s trading session as the All Share Index (ASI) rose 7bps to close at 25,301.23 points even as YTD loss remained at -5.9%. Similarly, market capitalization increased N5.7bn to settle at N8.7tn. Today’s marginal uptrend in the Benchmark index was largely as a result of gains in ZENITH (+2.8%), UNILEVER (+4.9%) and STANBIC (+2.8%) which offset the impact of decline in GUARANTY (-0.6%), NESTLE (-0.7%) AND ETI (-2.0%).

Bargain Hunting Uplifts Market Performance

The equities market reversed yesterday’s negative close as investors hunted for bargain in value stocks. Consequently, the All Share Index (ASI) gained 0.6% to close on Tuesday at 25,284.56 points whilst YTD loss eased to -5.9%. In the same vein, market capitalization rose N51.2m to settle at N8.8tn. Today’s positive performance was largely driven by bargain hunting in bellwethers across sectors - GUARANTY (+2.0%), ZENITH (+3.5%) SEPLAT (+5.0%), DANGCEM (+0.3%) and NIGERIAN BREWERIES (+0.7).

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