Markets

Stock Market Extends Gains

The equities market opened the week positive, extending gains from the previous week into the third consecutive trading session. All Share Index rose 2.4% on Monday to settle at 38,849.65 points while YTD return expanded to 4.2%. Consequently, market capitalisation rose by N329.7bn to settle at N14.2tn. Today’s performance was buoyed by price appreciation in DANGCEM (+5.0%), GUARANTY (+2.3%) and ZENITH (+2.5%). However, activity level was mixed as volume traded declined 19.7% to 604.5m units while value traded inched 46.7% higher to N16.1bn.
 

Review and Outlook of Global, Nigeria Markets

Global Equity Market Review and Outlook
Performance of global equity indices was largely bullish this week as 14 of the 16 indices under our coverage closed the first trading week of 2018 in the green. The positive performance can be attributed to sustained investor appetite for equities following the impressive return in 2017 as well as the usual “January effect”- a period in which increased buying activity is recorded in the first month of the year.

January Effect drives Equities Northward

The equities market reversed the negative performance from the previous trading session as the All Share Index rose 1.3% on Thursday to settle at 38,676.12 points while YTD gain expanded to 1.1%. The rally in the market can largely be attributed to the “January effect”- a period in which there is increased buying activity at the start of the year. As a result, market capitalization grew by N174.0bn to N13.8tn. The market’s positive performance can be broadly attributed to gains in GUARANTY (+3.8%), ZENITH (+5.0%) and UBA (+4.4%).

DANGCEM Drags Benchmark Index

The local bourse closed negative today despite a rally in small and mid cap stocks as sell offs in DANGCEM dragged the All Share Index 20bps lower to settle at 38,187.28 points while YTD return retreated to -0.1%. Accordingly, market capitalization decreased by N27.6bn to N13.6tn. Today’s performance can primarily be attributed to losses in DANGCEM (-3.0%). Ex- DANGCEM the benchmark index would have appreciated 95bps. Activity level softened as volume and value traded fell 137.3% and 18.8% to 589.6m units and N2.1bn units respectively.

Market Opens the Year Positive

The Nigerian Equities market began the year on a positive note as the All Share Index rose 6bps to settle 38,264.79 points  while market capitalisation increased by N7.7bn to N13.6tn. Market performance was largely driven by price appreciation in ZENITH (+1.1%), ACCESS (+1.4%) and DANGSUGAR (+1.8%). However, activity level declined as volume and value traded fell 53.7% and 35.0% to 248.5m units and N1.8bn respectively.

Mixed Sector Performance

2017 Equity Market Review and Outlook

In line with the strong global risk-on sentiment which has driven outperformance of risk assets across developed, emerging and frontier markets, 2017 was a stellar year for the Nigerian Equity Market as the benchmark All Share Index posted its first positive annual return in three years (+42.3%), ranking as the 11th best performer in the world and 2nd in Africa.

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

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