Markets

Local Bourse Extends Gain

The positive performance recorded yesterday was sustained on Wednesday as the All Share Index (ASI) advanced 25bps to settle at 36,622.85 points while YTD return expanded to 36.3%. Today’s performance was buoyed by gains in UBA (+3.3%), ZENITH (+1.2%) and SEPLAT (+2.1%). Consequently, market capitalization added N100.3bn to N12.7tn.  In the same vein, activity levels improved as volume and value traded surged 66.6% and 157.4% to settle at 333.0m units and N4.7bn respectively.

Banking Sector Index Leads Gainers

Stock Exchange Rebounds after Downtrend

The Nigerian Bourse reversed the negative trend which began last week, as the All Share Index rose 33bps to close on Tuesday at 36,531.62 points. Similarly, market capitalization increased N41.2bn to settle at N12.6tn. The positive performance was broadly driven by gains in NIGERIAN BREWERIES (+2.6%), ZENITH (+0.8%) and DANGSUGAR (+2.8%). However, market activity weakened as volume and value traded moderated 21.2% and 32.9% to 199.9m units and N1.8bn respectively.
 
Mixed Sector Performance

Equities Market Opens Week Bearish

At the close of trade on Monday, the Nigerian equities market recorded a negative performance as the All Share Index fell 48bps to close at 36,411.73 points, while YTD return eased to 35.5%. Accordingly, market capitalization shed N60.4bn to settle at N12.5tn. The major drag were ZENITH (-3.4%), WAPCO (-9.8%) and NIGERIAN BREWERIES (-1.9%). Contrarily, activity level improved as volume and value traded rose 138.0% and 43.4% to settle at 253.5m units and N2.7bn respectively.

Negative Sector Performance Extended

Lafarge Africa Seeks Approval to Launch ₦132b Rights Issue

Cement maker Lafarge Africa is expecting regulatory approval from Nigerian authorities for a 131.65 billion naira ($431.43 million) rights issue as it focuses on Nigeria for growth and expands into Ghana, its chief financial officer said on Friday.

As part of its plan to refinance its debt, the subsidiary of Franco-Swiss group LafargeHolcim said it would also issue a 25 billion naira of commercial paper on Monday under a 60 billion naira programme.

Nigerian Bourse Extends Losses

The Nigerian Bourse extended losses to the second consecutive session as the All Share Index moderated 8bps to close at 36,641.52 points on Wednesday while YTD return weakened to 36.3%. Likewise, market capitalization declined by N9.7bn to settle at N12.6tn on the back of pull-backs in  Tier-1 - ACCESS (-2.2%), UBA (-1.5%) and ZENITH (-0.5%). Activity level softened as volume and value traded fell 6.0% and 0.4% to settle at 198.6m units and N2.9bn respectively.

Negative Sector Performance Continues

Market Halts Bullish Trend

A 3-day upward trend was reversed at the close of trade on Tuesday as the All Share Index (ASI) fell 82bps to close at 36,669.61 points –implying a moderation in YTD return to 36.4%. Accordingly, investors lost N103.8bn as market capitalization settled at N12.6tn primarily due to losses in DANGCEM (-1.8%), NESTLE (-3.3%) and GUARANTY (-1.0%). Despite the 1.4% drop in volume to N211.9m units, total value of trades increased dramatically, rising 73.6% from N2.7bn to N4.7bn.

All Indices Close in the Red

Market Opens Week Positive

The Nigerian Bourse opened this week in the green as the All Share Index (ASI) rose 0.3% to 36,971.27 points, pushing YTD return to 37.6%. In line with the performance, market capitalization increased by N42.4bn to close at N12.7tn while activity level improved as volume and value traded expanded 34.7% and 21.8% to 215.0m units and N2.7bn respectively. Today’s uptick can largely be attributed to ZENITH (+3.1%), DANGCEM (+0.2%) and GUARANTY (+0.2%).

Banking Sector Leads the Way

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

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