Markets

Bargain Hunting Drives Market Rebound

At the close of trade today, the market snapped a 2-day losing streak as the All Share Index rebounded 44bps to settle at 35,103.40 points while the YTD return advanced to 30.6%. Accordingly, market capitalization added N52.4bn to settle at N12.1tn. The upturn in performance was majorly on account of gains in DANGCEM (+1.9%) as well as ZENITH (+1.8%) and NESTLE (+0.4%). Ex-DANCEM, market would have lost 18bps. However, activity level moderated as both the volume and value traded dipped 72.7% and 64.9% to 136.4m units and N1.3bn respectively.

Equities Open Week Lower Despite Positive Outlook

The Equities market opened the week on a negative note as the benchmark index contracted 0.4% to close at 35,361.52 points while the YTD gain retreated to 31.6%. Resultantly, investors lost N44.8bn as market capitalization settled at N12.2tn. The drag in today’s performance was majorly on account of losses recorded in NIGERIAN BREWERIES (-1.8%), UBA (-3.0%) and WAPCO (-2.9%). Similarly, activity level waned as volume and value traded plunged 44.3% and 62.8% to 107.1m units and N1.4bn respectively.  

Industrial Goods Index Leads Sector Decliners

Weekly Market Review and Outlook

Global Equities Review and Outlook
Following a 2-day meeting, the US FED expectedly voted to keep its benchmark interest rate unchanged at 1.00%-1.25%. The Fed’s statement after the meeting however hinted on one more rate hike in 2017 and guided on plans to begin unwinding its Balance sheet starting from October 2017. Also, ahead of the OPEC meeting in Vienna scheduled for today, global oil prices have continued to trade above US$55.00/b as oil traders await the outcome of the meeting.

Profit Taking Drags Down Market Performance

At the close of trading today, the All Share Index (ASI) fell 5bps to close at 35,188.97 points. Accordingly, the YTD performance retreated to +30.9% whilst investors lost N6.5bn as market capitalization settled at N12.1tn. DANGCEM (-1.6%) was the major drag to performance today, ex – DANGCEM market would have gained 0.6%. Activity level spiked as volume and value traded surged 212.5% and 665.4% to 429.2m units and N8.7bn respectively.

Sector Indices Stay Mixed

Benchmark Index Sustains Negative Trend

Photo L-R: Favour Femi-Oyewole, Head, Information Security, The Nigerian Stock Exchange (NSE); Ade Bajomo, Executive Director, Market Operations and Technology, NSE; Laure Beaufils, British Deputy High Commissioner; Pai Gamde, Acting Head, Corporate Services Division, NSE; Ade Ewuosho, Head, Market Service, NSE  and Gbemi Sikuade, Engagement & Communications Officer, Department for International Trade (DIT) at the Close Gong Ceremony at the Exchange today in Lagos.

Equities Kick-Start the Week in Red

The bearish close witnessed at the end of trading last week was extended on Monday’s session as the All Share Index (ASI) shed another 0.4% to close at 34,873.07 points. Consequently, YTD gain moderated further to 29.8% while market capitalization fell N46.5bn to settle at N12.0tn. NIGERIAN BREWERIES (-2.9%), SEPLAT (-5.0%) and FBNH (-3.4%) were the major drags to market performance today. However, activity level remained mixed as volume traded rose 1.6% to 162.7m units while value traded fell 48.0% to N1.5bn.

Sector Indices close Mixed

Nigerian Bourse Closes Week Negative

Transactions on the Nigerian Stock Exchange (NSE) closed for the week on Friday on a negative note as the market capitalisation dipped by 1.84 per cent.

The News Agency of Nigeria reports that the market capitalisation lost N226 billion or 1.84 per cent to close at N12.067 trillion against the N12.293 trillion recorded on Thursday.

The All-Share Index also fell by 1.84 per cent or 654.47 points to close at 35,005.57 from the 35,660.04 posted on Thursday.

Dangote Cement topped the losers’ table, dropping N8.19 to close at N205.8 per share.

Stock Market Rebounds

At the end of today’s trade, the All Share Index (ASI) closed positive, gaining 55bps while the YTD return improved to 32.7%. The major drivers of today’s performance were DANGCEM (+2.4%), NESTLE (+1.3%) and NIGERIAN BREWERIES (+0.3%) (ex-DANGCEM, market would have shed 17bps). Investors gained N70.0bn as market capitalization advanced to N12.3tn. Likewise, activity level rose as volume and value traded climbed 11.9% and 73.1% to N128.3m units and N2.7bn respectively.

Mixed Performance across Sectors

Mixed Performance as Index Sustains Bearish Trend

The equities market extended losses to the 4th consecutive session as the All Share Index (ASI) shed 0.5% to close at 35,464.34 points while YTD return retreated to 31.1%. As a result, market capitalization declined by N58.2bn to settle at N12.1tn. Today’s market performance was dragged by ZENITH (-0.5%), STANBIC (-2.9%) and OANDO (-4.9%). In the same vein, activity level moderated as volume and value traded plunged 69.3% and 72.7% to settle at 114.7m units and N1.6bn respectively.
 
Mixed Performance across Sectors

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