Markets

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

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

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