Markets

Market Opens Lower on Profit Taking

In line with expectation, the equities market opened the week negative as the All Share Index fell 88bps to 38,913.99 points while YTD return retreated to 44.8%. Consequently, investors lost N119.6bn in value as market capitalization settled at N13.6tn. Market performance today can be primarily attributed to profit taking in bellwether Industrial Goods and Banking stocks - DANGCEM (-1.7%), ZENITH (-3.3%) and UBA (-5.0%). In the same vein, activity level declined as average volume and value fell 33.9% and 4.0% to 350.6m units and N4.9bn respectively.

Bullish Run Extends to Seventh Consecutive Trading Session

The bullish run in the Nigerian equities market extended into the seventh consecutive trading session on Thursday as the All Share Index rose by 1.2% to settle at 39,534.14 points while YTD return improved to 47.1%. Accordingly, market capitalization added N159.8bn to close at N13.8tn. The day’s positive performance can be majorly attributed to sustained buying interest in NIGERIAN BREWERIES (+2.2%), NESTLE (+6.0%) and ZENITH (+5.6%). Likewise, activity level improved as volume and value traded grew 50.6% and 39.2% to 1.1bn units and N10.2bn respectively.
 

Market All-Share Index hits 39,000 Basis Points

The Nigerian Equities market recorded a positive close for the 6th consecutive trading session on Wednesday, as the benchmark index added 151 basis points (bps) to settle at 39,075.30 points – 37-month high. Consequently, YTD return of the All Share Index (ASI) expanded to 45.4% as market capitalisation increased by N202.3bn to N13.6tn. Similar to the previous session, positive market performance was spread across sectors, although the largest contributors were banking stocks- ZENITH (+4.1%), UBA (+5.8%), and GUARANTY (+0.1%) - as well as  DANGCEM (+0.4%) and NIGERIAN BREWERIES (+1.7%).

Market Sustains Rally to Close at 37-Month High

The All Share Index (ASI) closed in the green for the 5th consecutive day, rising 1.4% to settle at 38,494.43 points – a level last seen in October 2014. Thus, YTD return of the benchmark index expanded to 43.2% while market capitalization rose by N181.0bn to close at N13.4bn. Although the rally was broad-based, the day’s positive close can be largely attributed to gains in bellwethers - DANGCEM (+1.7%), NIGERIAN BREWERIES (+3.4%) GUARANTY (+0.7%) and ZENITH (+0.6%).

Equities Market Opens Week in Green

The All Share Index (ASI) closed the first trading day at 37,974.58 points, adding 8bps to open the week in the green. This marked the 4th consecutive day of a positive close. As a result, YTD return expanded to 41.3% as market cap increased by N10.8bn to settle at N13.2tn. The day’s positive performance was buoyed by buying interest in Consumer Goods bellwethers - NESTLE (+1.2%) and NIGERIAN BREWERIES (+0.9%) - and FBNH (+2.5%). However, activity level was mixed as volume traded marginally inched 1.0% higher to 500.2m units while value traded declined 11.4% to N6.4bn.
 

Weekly Equity Market Review and Outlook

Performance in the Nigerian equity market was largely bullish this week as large-, mid- and small-cap stocks rallied; hence, the All Share Index (ASI) appreciated 1.5% WTD to close at a 3-month high of 37,944.60 points while YTD and MTD returns advanced to 41.2% and 3.4% respectively. Market capitalization increased by N205.5bn to N13.2tn, exceeding the N13.0tn mark for the second time this year. Similarly, activity level improved as average volume and value traded increased 70.8% and 14.3% W-o-W to 745.5m units and N5.2bn respectively.

Nigerian Bourse Extends Gains

Photo: Bola Adeeko, Head, Corporate Services Division, The Nigerian Stock Exchange (NSE); Patrick Ezeagu, Chairman, Association of Stockbroking Houses of Nigeria (ASHON); Oscar Onyema, Chief Executive Officer, NSE; Mojisola Adeola, Head, Council Secretariat, NSE and Stephen Falomo, Head, Lagos Zonal Office, Securities and Exchange Commission (SEC) during the recent Induction Ceremony for Newly Qualified Dealing Clerks at The Exchange in Lagos. 

 

Losses in Banking Stocks Drag Market Performance

The Nigerian equities market closed the trading day negative on Monday as the All Share Index lost 31bps to close at 37,250.78 points while YTD return moderated to 38.6%. Resultantly, investors lost N36.1bn as market capitalization settled at N12.9tn. Today’s negative Performance is largely attributable to losses in banking stocks- STANBIC (-4.7%), ZENITH (-1.0%), ETI (-3.0%) and ACCESS (-0.6%).  However, activity level was mixed as volume traded inched 8.3% higher to settle at 942.7m units while value dipped 5.2% to close at N4.8bn. 

Pages

myfinancialintelligence.com