Markets

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.

Stock Market Suffers Dead Cat Bounce

The gain recorded in the Nigerian equities market yesterday, can be viewed as a “dead cat bounce" as the benchmark index continued on its downward trend today. The All Share Index shed 1.0% to settle at 38,534.64 points while YTD return retreated to 43.4%. Accordingly, market capitalization fell by N135.8bn to N13.4tn. Price depreciations in large cap stocks - GUARANTY (-4.8%), ZENITH (-3.9%), NIGERIAN BREWERIES (-2.6%) and DANGCEM (-0.5%) were the major drags to market performance.

Equities Halt Bearish Run

The Nigerian equities market rebounded on Tuesday, albeit a marginal gain, following a 2-day negative trend as the All Share Index (ASI) rose 3bps to close at 38,924.63 points while YTD gain stood at 44.8%. Accordingly, market capitalization increased by N3.7bn to N13.6tn. Today’s performance can be majorly accorded to buy interest in UBN (+10.0%), DANGSUGAR (+3.9%) and GUARANTY (+0.6%). Similarly, activity level improved as volume and value traded increased 32.0% and 445.4% to 462.7m units and N26.8bn respectively.

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