Market Watch | - Part 199

Market on Overdrive as S & P Places Nigeria on Negative Watch

NSE ASI dips 273bps at the end of 11th February 2014Nigerian Equity Market extended its 6-day losing streak declining 273bps today, bringing the index to close at a 2-year low of 27,935.77 pts, while YTD loss rose to 19.4%. Market capitalisation also lost N262.1bn to close at N9.3tn. However, trading activities measured by volume and value traded were mixed as volume advanced by 21.2% while value waned by 26.6% to 411.5m units and N4.5bn respectively.All…

Nigerian equities extend losses: 10th Feb 2015

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Equities Extend Losses … NSE All Share Index Dips 80bps The bears remain resolute as losses on the Nigerian Bourse extended into the fourth trading day on the back of increasingly weak macroeconomic fundamentals and political uncertainties dampening sentiments for equities. The All Share Index declined 80bps today to close at 29,125.69 points, driving YTD loss to 16.0%. Also, market capitalization shed N78.4bn to close at N9.7tn. Today’s decline came amidst sell-off recorded in Guaranty…

Nigerian Equity Market Reacts to Heightened Political Uncertainty: 9 Feb 2015

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Equity Market Reacts to Heightened Political Uncertainty… ASI Slumps 208bps The Nigerian Bourse expectedly experienced sell-down pressure today as investor sentiment weakened. This is premised on the heightened uncertainties surrounding the socio-political environment due to the postponement of the 2015 general elections announced over the weekend. Against this backdrop, the All Share Index (ASI) declined 208bps on the first trading day of the week to close at 29,360.55 points, pushing the YTD losses to 15.3%….

The Bears Resurface in Nigerian Equities: 5 February 2015

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Nigeria Daily Stock Market Report | The Bears Resurface¦ NSE ASI loses 136bps: 5th February 2015After three consecutive days of bullish run, there was a reversal in the market as the benchmark index lost136bps to close at 30,200.97 points as market capitalisation also lost N121.4tn settling at N10.1tn. Today’s decline in index was driven majorly by losses in large cap stocks — Dangote Cement (1.9%), Nigerian Breweries (3.0%) and Guaranty (3.0%). On the other hand,…

Nigerian Equities Sustain Positive Momentum, 3 February 2015

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Equities Sustain Positive Momentum… NSE-ASI Up 46bps The Nigerian equities sustained its positive momentum today on the back of gains in banking stocks — Guaranty (5.0%), Zenith (5.0%) and Access (3.9%). As a result, the broader index and market capitalisation added 46bps and N45.3bn to close 30,018.35bps and N10.0tn respectively. On the contrary, market activity measured by volume and value improved today, advancing 55.7% and 17.4% to close at 396.8m units and N3.8bn a piece.Banking…

FBN Securities Nigerian Market Wrap: 2 February 2015

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The equities market recouped losses from last week as a combination of strong bargain hunting and thinning offers pushed prices higher in most blue chips. The bourse posted its second best performance in the year, rallying +1.08% albeit on low volumes (turnover – N3.24bln, $16.81m). Block trade of 8.5mln NB ($6.24m) by international investors accounted for over 35% of the value traded. Consumer names were the most impressive, NB(+4.91%) and Nestle(+0.47%) advanced on decent demand…

Afrinvest Nigeria’s Daily Stock Market Report: 2 February 2015

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Recent Gains in Oil Prices Excite Equities… NSE ASI up 108bps The Nigerian Bourse started the week on a positive note as All Share Index – the benchmark index of Nigerian equity market rebounded, gaining 1.1%. Market Capitalization also added N106.7bn to close at N10.0tn. The uptrend today was majorly driven by the appreciation in bellwether stocks — Nigerian Breweries (4.9%), Dangote Cement (1.1%) and GTBank (2.3%). Despite the significant pull-back in the market, most…

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