Markets

Stock Market Remains Bearish

Following three days of negative performance, the local bourse yet again extended losses to the 4th consecutive session as the All Share Index fell 99bps on Thursday to close at 43,529.06 points while YTD return moderated to 13.8%. Consequently, investors lost N155.7bn as market capitalisation fell to N15.6tn. Sell pressures across board especially in banking stocks - GUARANTY (-2.0%), STANBIC (-5.0%) and DIAMOND (-9.3%) continued to weigh on performance.

Market Extends Losses to Third Consecutive Session

Losses in the equities market were extended into the third consecutive trading session as the All Share Index fell 96bps to close on Wednesday at 43,963.40 points while YTD return further moderated to 15.0%. Accordingly, market capitalisation fell to N15.8tn as investors lost N143.0bn. Although sell pressure was recorded across board, sustained profit taking in banking stocks - GUARANTY (-2.1%), ZENITH (-3.1%) and FBNH (-4.0%) - was the major drag to today’s negative close.

Broad-Based Sell-Offs Drag Market Performance

The equities market extended losses from the previous trading session as the All Share Index (ASI) shed 1.2% to settle at 44,389.85 points while YTD return contracted to 16.1%. Similarly, market capitalization fell to N15.9tn as investors lost N187.3bn. Profit taking in market bellwethers - DANGCEM (-1.5%), GUARANTY (-2.8%), FBNH (-5.3%) and ZENITH (-2.3%) - as well as mid and small cap stocks dragged performance. Also, activity level declined as volume and value traded fell 83.4% and 51.8% to 737.9m units and N7.7bn respectively.

Mixed Sector Performance

Mixed Performance as Market Opens Week Bearish

The local bourse reversed the positive performance from Friday as the All Share Index (ASI) closed 40bps lower on Monday to settle at 44,912.53 points while YTD return moderated to 17.4%. Accordingly, investors lost N64.6bn as market capitalisation closed at N16.1tn. The negative performance could be attributed to sell offs across board with GUARANTY (-2.2%), NESTLE (-2.0%) and UNILEVER (-5.9%) being the main drags. However, activity level strengthened as volume and value traded surged 231.2% and 84.6% to 4.4m units and N15.9bn respectively.

Stock Market Pares Gains

Photo L-R: Tony Ibeziako, Ag. Head, Listings Business Division, The Nigerian Stock Exchange (NSE); Bola Adeeko, Head, Shared Services Division, NSE; Oscar Onyema, Chief Executive Officer, NSE; Tinuade Awe, Executive Director, Regulation, NSE and Ade Ewuosho, Ag. Head, Trading Business Division, NSE during the presentation of 2017 Market Recap & Outlook for 2018 at the Exchange.

Analyst Predicts Stock Price Volatility

A capital market analyst, Mr Ambrose Omordion, on Monday predicted that the Nigerian Stock Exchange (NSE) would likely experience price volatility this week due to profit taking.

Omordion, the Chief Operating Officer, InvestData Ltd, expressed this view in an interview with the News Agency of Nigeria in Lagos.

According to him, the market is likely to witness panic selling and re-positioning ahead of the earnings reporting season.

All Share Index Records Highest Weekly Gain in 20 Months

Against the backdrop of rising oil prices and strong portfolio flows, the uptrend in market performance from the prior week was sustained this week as the All Share Index (ASI) closed in the green on all trading sessions save for Friday. Thus, the ASI gained 10.2% W-o-W to settle at 42,898.90 points while YTD return expanded to 12.2%. Consequently, investors gained a total of N1.5tn in value as market capitalization closed at N15.4tn. In the same vein, activity level strengthened as average volume and value traded rose 66.2% and 193.3% W-o-W to 1.0bn units and N13.8bn respectively.

Market Capitalisation hits Record High

Following the recent uptrend in performance, the equities market closed positive on Thursday as the All Share Index gained 2.9% to settle at 43,041.54 points, while YTD return expanded to 13.5%. Likewise, investors recorded gains to the tune of N436.1bn as market capitalization rose to an all-time high of N15.3tn. Today’s performance was propped up by sustained buying interest in market bellwethers – DANGCEM (+2.0%), GUARANTY (+4.9%) and NIGERIAN BREWERIES (+4.6%).

Broad Based Rally Buoys Market Performance

The equities market closed positive today due to a sustained rally, as the All Share Index gained 3.6% to settle at 41.816.11 points while YTD return expanded to 9.3%. Accordingly, market capitalization rose by N517.1bn to N14.8tn. Similar to prior sessions, performance was buoyed by a rally across sectors, with DANGCEM (+4.0%), GUARANTY (+5.1%) and ZENITH (+6.7%) driving the market for the third day in a row. Activity level also improved as volume and value traded rose 41.2% and 68.5% to 1.1bn units and N13.3bn respectively.

Bullish Sector Performance

Local Bourse Sustains Positive Momentum

The local bourse sustained its positive momentum on Tuesday to extend gains to the fourth consecutive session as the All Share Index rose 1.3% to close at 40,362.97 points while YTD return expanded to 5.5%. In turn, investors gained N182.7bn as market capitalization settled at N14.4tn. Today’s performance was buoyed by a broad-based rally across sectors, although DANGCEM (+1.4%), ZENITH (+4.9%) and GUARANTY (+2.2%) were the main drivers. However, activity level was mixed as volume traded inched 27.5% higher to 770.9m units while value traded dipped 51.2% to N7.9bn.

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