Markets

Stock Market Extends Gaining Streak

The Nigerian equities market sustained its current northward trend as the All Share Index (ASI) appreciated 0.5% to close at 33,695.83 points while YTD gain improved to 25.4%. In the same vein, market capitalization increased N62.3bn to close at N11.6tn. Today’s positive performance was largely driven by sustained interest in DANGCEM (+0.5%), NESTLE (+1.8%) and WAPCO (+5.0%).  However, activity level weakened as volume and value traded declined 42.2% and 32.8% to 191.4m units and N2.2bn respectively.

Insurance Index emerges Lone Decliner

Bulls Retain Hold amidst Renewed Buy Sentiment

The Nigerian bourse sustained its positive momentum in today’s session as the NSE All Share Index (ASI) rose 0.2% to close at a month high of 33,514.93 points while YTD return expanded to +24.7%. Performance in today’s session was broadly buoyed by renewed buy sentiment towards Banking Stocks – ZENITH (+2.1%), STANBIC (+3.1%), FBNH (4.2%), and GUARANTY (+0.8%) - which offset losses in DANGCEM (-1.0%) and NESTLE (-1.8%). Accordingly, investors recouped N27.0bn in value as market capitalization increased to N11.6tn.

Equities Sustain Positive Performance on FMCGs Rally

The Nigerian equities market, on the first trading day of the week, extended gains from the previous week as the benchmark index climbed 12bps to 33,301.43 points, thus nudging YTD gain to 23.9%. Today’s performance was largely driven by strengthened sentiment towards Consumer Goods stocks - NIGERIAN BREWERIES (+2.2%), UNILEVER (+10.2%), 7UP (+6.4%) and FLOURMILL (+5.0%) - as well as market heavyweight, DANGCEM (+0.1%). Consequently, investors accumulated N13.7bn in value as market capitalization increased to N11.5tn.

Weekly Market Report

Photo L-R: Haruna Jalo-Waziri, Executive Director, Capital Market Division, The Nigerian Stock Exchange (NSE); Mrs. Dara Owoyemi, Special Assistant, Minister of Industry, Trade and Investment; Ms Ladi Katagum, Director, Nigerian Investment Promotion Commission (NIPC); Oscar Onyema, Chief Executive Officer, NSE; Ms. Yewande Sadiku, Executive Secretary/CEO, NIPC and Mr. Reuben Kifasi, Director, NIPC at the Closing Gong Ceremony at the Exchange today.

 

Positive Momentum Sustained Amidst Rally in Bellwethers

The Nigeria Bourse extended gains to the sixth session today as the Benchmark Index advanced 0.8% to close at 33,246.91 points, buoying YTD gain to 23.7%. Today’s performance was bolstered by sustained buying interest in bellwethers across sectors including DANGCEM (+0.8%), GUARANTY (+1.9%), WAPCO (+4.0%) and MOBIL (+9.5%) which more than offset losses in NIGERIAN BREWERIES (-0.9%) and ACCESS (-1.5%) Thus, investors accumulated N91.4bn in value as market capitalization increased to N11.5tn.

Stock Market Extends Gains to 5th Consecutive Session

The Nigerian bourse, at the close of trade today, extended gains to the 5th consecutive session as the All Share Index (ASI) rose 0.5% to settle at 32,981.63 points, thus nudging YTD gain to 22.7%. Quite similar to yesterday, performance was buoyed by sustained buy interest in market heavyweights – GUARANTY (+1.9%), NIGERIAN BREWERIES (+0.6%) and DANGCEM (+0.1%). Consequently, investors gained N52.9m as market capitalization increased to N11.4bn. However, activity level was mixed as volume traded declined 17.6% to 180.3m units while value traded rose 22.7% to N2.6bn.

Nigerian Equities Market Remains Upbeat

The Nigerian equities market sustained its upbeat performance in today’s session as the benchmark index climbed 0.6% to close at 32,827.98 points, further pushing YTD gain to 22.2%. Today’s performance was largely driven by positive sentiment towards DANGCEM (+0.6%) and NIGERIAN BREWERIES (+0.8%) as well as sustained interest in banking stocks – GUARANTY (+2.6%), ZENITH (+3.3%) and ACCESS (+2.3%). Consequently, investors accumulated N73.5bn as market capitalization rose to N11.3tn.

Market Review and Outlook

Photo L-R: Clifford Akpolo, Digital Marketing Manager, The Nigerian Stock Exchange (NSE); Pai Gamde, Ag. Head, Corporate Services Division, NSE; Simisola Ogunleye,  a Celebrity at 2017 NSE Corporate Challenge; Olumide Orojimi, Head, Corporate Communications, NSE and Boluwatiwi Omidiji, CSR Analyst, NSE at the Closing Gong Ceremony in commemoration of 2017 NSE Corporate Challenge at Exchange.

 

Equities Rebound from 4-day Losing Streak

The Nigerian bourse rebounded from a 4-day losing streak as the All Share Index (ASI) rose 0.2% to close at 32,354.78 points while market capitalization added N18.1bn to settle at N11.2tn. Consequently, YTD gain of the benchmark index improved to 20.4%. Today’s positive performance was largely driven by DANGCEM (+1.9%); ex- Dangcem, ASI would have lost 0.2%. Activity level however was mixed as volume traded fell 45.9% to 168.5m units while value traded rose 21.9% to N3.6bn.

Positive Performance across Sectors

Ashaka Cement withdraws from NSE

Ashaka Cement Plc has voluntarily delisted from the Nigerian Stock Exchange (NSE) for violation of the exchange free float deficiency provision of 20 per cent.

The company announced its voluntary withdrawal in a statement posted on NSE website by the company’s directors.

“The Board of Directors of Ashaka Cement Plc has opted for a voluntarily delisting of the company from the NSE in violation of the Exchange’s Free Float Deficiency provision of 20 per cent,’’ the statement read in part.

Pages