Markets

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

Nigerian Bourse Extends Losses

The Nigerian equities market extended losses today as the benchmark index slid 0.7% to close at 35,397.52 points, further trimming YTD gain to 31.7%. Today’s performance was dragged by declines in large cap stocks such as NESTLE (-4.9%), NIGERIAN BREWERIES (-2.4%), DANGCEM (-0.5%) and WAPCO (-3.8%). Consequently, investors lost N92.2bn as market capitalization fell to N12.2tn. However, activity level surged as volume and value traded rose 225.4% and 165.4% to 373.5m units and N5.8bn respectively.

Indices Close in the Red

Equities Open Week Bearish

The local Bourse opened the week negative as the benchmark index slipped 81bps to close at 35,664.94 points while the YTD return moderated to 32.7%. Accordingly, investors lost N100.7bn as market capitalization settled at N12.3tn. Performance was majorly dragged by sell sentiment in DANGCEM (-2.3%) GUARANTY (-1.9%) and NESTLE (-0.8%). In the same manner, market activity weakened as volume and value traded declined 24.7% and 29.5% to close at 114.8m units and N2.2bn respectively.

Oil & Gas Index Emerges Lone Sector Gainer

Stock Market Extends Gains

The All Share Index sustained its positive performance today, rising 1.4% to close at 36,112.37 points while YTD return improved to 34.4%. Accordingly, market capitalisation rose N174.8bn to N12.4tn. The major drivers of today’s performance were DANGCEM (+4.7%), GUINNESS (+10.2%), NIGERIAN BREWERIES (+0.8%) and STANBIC (+2.3%). On the other hand, market activity declined as volume and value traded fell 21.0% and 23.1% to settle at 222.7m units and N4.2bn respectively.

DANGCEM Drives Industrial Goods Index Higher

Local Bourse Sustains Bearish Trend

The National Bureau of Statistics (NBS) released its Q2:2017 GDP report today, which showed the economy grew by 0.55% Y-o-Y, much in line with our expectation of a 0.6% expansion. The growth was largely driven by improvement in the oil sector and non-oil sector which grew by 1.6% and 0.5% Y-o-Y respectively in Q2:2017. Despite this positive development, the Nigerian equities market recorded a decline for the 5th consecutive trading session as the All Share Index contracted 0.3% to close at 35,403.92 points, while YTD return tapered to 31.7%.

Benchmark Index Sustains Bearish Momentum

The benchmark index maintained its negative momentum at the end of Thursday’s session, shedding 35bps to close at 35,504.62 points while YTD gain retreated to 32.1%. Sustained profit-taking in NIGERIAN BREWERIES (-2.2%), STANBIC (-4.3%), GUARANTY (-0.3%) and UBA (-3.7%) dragged market performance. Accordingly, market capitalization decreased N42.9bn to close at N12.2tn. However, activity level improved as volume and value traded rose 11.1% and 37.7% to 266.5m units and N4.0bn respectively.

Mixed Sector Performance

Equities Extend Losses to Third Consecutive Session

At the close of trade today, the equities market extended losses to the third consecutive session as the benchmark index fell 1.5% to close at 35,629.13 points while YTD gain retreated to 32.6%. Consequently, investors lost N185.0bn as market capitalization settled at N12.3tn. Performance was dragged by losses in large cap stocks such as DANGCEM (-3.8%), GUARANTY (-0.5%), ACCESS (-3.9%) and DANGSUGAR (-4.9%). However, activity level improved as volume and value traded surged 66.1% and 93.8% to 239.9m units and N2.9bn respectively.

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