The positive performance in the local bourse was sustained as the All Share Index (ASI) gained 4bps to settle at 41,233.42 points on Monday while the YTD return stood at 7.7%. In view of that, investors lost N16.6bn in value as market capitalisation fell to N14.9tn. The positive performance was largely driven by gains in DANGCEM (+1.0%) and GUINNESS (+0.5%). Activity level weakened as volume and value traded depreciated 21.9% and 39.3% to 221.4m and N2.6bn respectively.
The local bourse posted a bearish performance on Thursday as profit taking in bellwethers – DANGCEM (-1.1%) and NIGERIAN BREWERIES (-1.4%) - dragged the All Share Index 48bps lower to close at 41,107.81 points while YTD return declined to 7.5%. Consequently, investors lost N71.8bn as market capitalization fell to N14.9tn. However, activity level was mixed as volume traded rose 16.0% to 320.4m units while value traded was down 30.9% to N4.8bn.
The local bourse extended its positive run to the third session on Wednesday –largely due to price appreciation in DANGCEM - as the All Share Index (ASI) gained 9bps to close at 41,306.02 points while YTD return rose to 8.0%. Ex-DANGCEM, market would have closed down 85bps. Accordingly, investors wealth increased as market capitalization rose by N13.7bn to close at N14.9tn. Other drivers of today's performance were UBN (+4.0%), 11 PLC (+9.6%) and UBA (+1.3%). Activity level, however, was mixed as volume traded declined by 38.7% to 276.2m while value traded trended up 38.9% to N6.9bn.
The local bourse opened the trading week on a positive note as the All Share Index (ASI) inched 6bps higher to 41,268.56 points on Monday while YTD return remained flat at 7.9%. As a result, investors gained N8.4bn in value as market capitalization rose to N14.9tn. Gains in GUARANTY (+1.5%), DANGCEM (+0.4%), and FBNH (+0.4%) were the main drivers of today's performance. Similarly, activity level trended higher as volume and value traded improved 41.1% and 77.4% to 450.5m units and N5.0bn respectively.
According to the Commerce Department, the US economy expanded at a slower annualized rate of 2.3%, from 2.9% in the previous quarter. Although that beat polled market’s expectation of a 2.0% growth rate, it is the lowest in a year. Personal consumption (the U.S. economy’s key driver) grew at its slowest pace in five years, amid reduced spending on cars, clothing, and footwear, and stalled growth in residential investment. Meanwhile, impact of trade on the US economy turned positive, contributing 0.2%, against -1.16% in the previous quarter.
The local bourse rebounded as the All Share Index (ASI) rose by 5bps to settle at 40,777.67 on Thursday while YTD return remained unchanged at 6.6%. In addition, investors gained N49.5bn in value as market capitalization advanced to N14.8tn. Today’s bullish performance was largely due to buying interest in NIGERIAN BREWERIES (+1.8%), UNILEVER (+3.6%) and OANDO (+5.2%). Similarly, activity level strengthened as volume and value traded increased 8.0% and 36.0% to 378.2m units and N6.3bn respectively.
The Minister of Finance, Kemi Adeosun, has appointed Ms Mary Uduk, as the new Director -General, the Securities and Exchange Commission (SEC) following the redeployment of Dr Abdul Zubair, who had held forte since December last year.
Mr Oluyinka Akintunde, Special Adviser, Media & Communications to the Minister of Finance made the changes known in a statement on Friday.
The 2-day positive run in the local bourse came to a halt on Thursday as the All Share Index (ASI) shed 10bps to close at 40,813.69 points while YTD return moderated to 6.7%. Resultantly, investors lost N13.6bn in value as market capitalization fell to N14.7tn. The bearish performance today was largely on the back of losses in market bellwethers - DANGCEM (-0.8%), UNILEVER (-3.5%) and ZENITH (-1.0%). Activity level softened as volume and value traded fell 44.1% and 41.4% to 205.3m units and N3.1bn respectively.