Markets

Market Rebounds on Rally in Stocks

The local bourse reversed its negative performance from the previous session as the All Share Index (ASI) rose 27bps  to close at 37,990.74 points while YTD gain advanced to 41.4%. Resultantly, investors gained N36.0bn as market capitalization expanded to N13.5tn. Today’s positive performance can be largely attributed to buying interest observed across sectors, although WAPCO (+4.7%), NIGERIAN BREWERIES (+0.9%) and NESTLE (+0.7%) were the major drivers. However, activity level was mixed as volume traded declined 22.7% to 322.3m units while value traded rose 71.5% to N3.6bn.

Benchmark Index Down amidst Broad Selloff in Equities

As the festive season draws to a close, the equities market recorded a 1.6% decline at the end of trading today to buck a 3-day gaining streak; thus, paring the benchmark index YTD return to 41.0%. Investors in turn lost N225.1bn in value as market capitalization settled at N13.5tn. DANGCEM (-3.9%) was the major drag to performance today, although selling pressures were also observed in large-cap stocks within the Consumer Goods, Banking and Agriculture sectors. However, activity level waxed stronger as volume and value rose 103.9% and 37.9% to N416.9bn and N2.1bn respectively.

Equities Market Extends Gain to Third Consecutive Day

The Nigerian equities market closed the week positive as the All Share Index (ASI) rose 45bps to settle at 38,522.14 points while YTD gain expanded to 43.3%. Accordingly, market capitalization grew by N61.0bn to N13.7tn. The positive close was majorly driven by price appreciations in DANGCEM (+0.8%), SEPLAT (+5.0%) and ACCESS (+3.0%). However, activity level was mixed as volume traded fell 52.4% to 204.5m units while value traded advanced 1.1% to N1.5bn.

Bullish Sector Performance

Local Bourse Maintains Positive Performance

The positive performance recorded in the local bourse yesterday, was extended today as the All Share Index grew 1.1% to 38,350.64 points while YTD gain advanced to 42.7%. As a result, investors gained N148.3bn in value as market capitalization increased to N13.6tn. Today’s performance can be largely attributed to buy interest in DANGCEM (+3.9%). However, activity level was mixed as volume traded surged 106.5% to 429.4m units while value traded declined 55.3% to N1.5bn.
 
Mixed Sector Performance

Stock Market Reverses 2-day Downtrend

The equities market reversed a 2-day downtrend at the close of trade today as the All Share Index (ASI) rose 40bps to 37,933.86 points while YTD return expanded to 41.2%. Thus, market capitalization increased by N53.4bn to settle at N13.5tn. Today’s positive performance can majorly be attributed to buy interest in large cap stocks - NESTLE (+2.1%), GUARANTY (+1.5%), SEPLAT (+5.0%) and DANGCEM (+0.2%). However, activity level declined as volume and value traded fell 68.0% and 37.6% to 207.9m units and N3.4bn respectively.

Equities Market Sustains Negative Close

The Nigerian Equities market closed the day negative as the All Share Index shed 46bps to settle at 37,783.76 points while YTD return retreated to 40.6%. Accordingly, investors lost N70.1bn as market capitalization fell to N13.4tn. Today’s negative performance is attributable to losses in DANGCEM (-0.7%), DANGSUGAR (-5.0%) and ETI (-4.0%). However, activity level strengthened as volume and value traded surged 221.6% and 42.2% to close at 649.6m units and N5.4bn respectively.

Insurance Index Bucks 6-day Downtrend

Dangote Cement Shares Trade in $350m Off-Market Deal

Some 550 million shares of Dangote Cement were sold at 225.7 naira each on Monday in a one-off stock market deal valued at $350 million, traders said.

Traders told Reuters it was negotiated in a deal between seller Meristem Stockbrokers Ltd and buyer CSL Stockbrokers Ltd. Dangote Cement’s shares last trading price was 238.99 naira by market close.

The stock fell 4.17 percent on Monday.

Again, Bears Pounce on the Capital Market

The positive performance recorded on the last trading day of the previous week reversed today as the benchmark index was dragged by sell offs in DANGCEM (-4.2%). Consequently, the All Share Index lost 1.2% to settle at 37,980.67 points while YTD return reduced to 41.2%. Ex- DANGCEM the ASI would have appreciated. Investors lost N162.1bn as market capitalization fell to N13.5tn. Similarly, activity level softened as volume and value traded declined 52.5% and 58.4% to 202.0m units and N3.8bn respectively.

Banking Index Emerges Lone Gainer

Weekly Market Report

Global Equity Market Review and Outlook
Performance of the global equity markets under our coverage was mixed, albeit skewed towards the red as benchmark indices in developed markets outperformed whilst indices in the emerging markets lagged. In the commodities market, despite the threat posed by the increasing output of US Shale, oil prices trended 11bps northwards W-o-W as Brent Crude settled at US$63.38/b (as of writing).

DANGCEM Drags Down Benchmark Index

Photo L-R: Hon. Suraj Adekunbi, Speaker, Ogun State House of Assembly; Oscar Onyema, Chief Executive Officer, The Nigerian Stock Exchange (NSE); Senator Ibikunle Amosun, Executive Governor, Ogun State; Abimbola Ogunbanjo, President, NSE and Abayomi Shobande, Head of Service, Ogun State during a Closing Gong Ceremony at The Exchange on Thursday.

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