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

SEC Docks BGL Chiefs

The Securities and Exchange Commission (SEC) on Thursday arraigned the Deputy Managing Director of BGL Plc, Chibundo Edozien, in a Wuse Chief Magistrates’ Court for conspiring with some staff of the company to defraud the investing public.

The accused person, of Plot 417 Tigris Crescent, Maitama, Abuja, was docked on charges of criminal conspiracy, breach of trust and cheating.

Edozien also appeared in court on behalf of M/S BGL plc, its asset management and securities limited subsidiaries.

Equities Market Review and Outlook

Performance for the last week of the month of September was mixed as the local bourse gained on 3 of 5 days. Despite this, the All Share Index (ASI) marginally lost 0.1% W-o-W to close at 35,439.38 points while YTD return moderated to 31.9%. Investors lost N16.8bn as market capitalization settled at N12.2tn. The drag in performance was largely on account of declines in Consumer Good counters – NIGERIAN BREWERIES (-3.5%), GUINNESS (-4.3%) and NESTLE (-0.8%). However, activity level was mixed as average volume rose 20.9% to 265.2m units while value traded fell 21.1% to N2.8bn.

Benchmark Index Extends Gains

At the close of trading Thursday, the benchmark index gained 93bps to settle at 35,429.31 points while YTD return improved to 31.6%. Accordingly, market capitalization added N112.3bn to N12.2tn. Today’s positive close is largely attributed to gains in DANGCEM (+1.4%), ZENITH (+3.5%) and GUARANTY (+1.2%).  In the same vein, activity level improved as volume and value traded spiked 153.8% and 214.8% to settle at 346.2m units and N4.0tn respectively.

Mixed Sector Performance