Nigerian Equities Unable To Sustain Gains …NSE ASI Sheds 54bps

Nigerian Equities Unable To Sustain Gains …NSE ASI Sheds 54bps

LAGOS (Capital Markets in Africa) – The local bourse was unable to sustain gains recorded in the previous trading session as a result of sell-offs in Consumer Goods stocks – NESTLE (-3.3%), NB (-1.0%) and PZ (-9.7%). Thus, the All Share Index slid 54bps to close at 25,322.30 points, bringing YTD loss to –5.8%. Investors, in turn, lost N10.9bn as market capitalization settled at N8.8tn. Activity level stayed mixed as volume traded declined 58.9% to 143.2m units while value traded increased…

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Nigerian Equities Market Sustains Downtrend …NSE ASI Dips 0.6%

Nigerian Equities Market Sustains Downtrend …NSE ASI Dips 0.6%

LAGOS (Capital Markets in Africa) – The current downtrend in the local bourse continued today as the All Share Index closed in the red for the third consecutive trading session, down 0.6% to settle at 25,446.66 points despite a 0.6% uptick in DANGCEM. Accordingly, YTD performance worsened to -5.3% the decline today can be broadly attributed to price depreciation n NESTLE (-5.0%), NIGERIAN BREWERIES (-2.0%) and ZENITH (-2.2%). Consequently, the market lost N53.1bn as the total capitalization closed at N8.8tn. However,…

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Bargain Hunting in Banking Stocks Drives Nigerian Equity Index Higher …NSE ASI up 13bps

Bargain Hunting in Banking Stocks Drives Nigerian Equity Index Higher …NSE ASI up 13bps

LAGOS (Capital Markets in Africa) – The Nigerian equities market bucked a 3-day downtrend as bargain hunting in banking stocks drove the index 13bps northwards to settle at 25,936.24 points. The performance was driven by gains in STANBIC(+2.9%), UBA (+2.9%), ZENITH (+1.4%) and GUARANTY (+0.6%). Accordingly, YTD loss eased slightly to -3.5%. Investors, in turn, gained N11.5bn as market capitalization settled at N9.0tn. However, activity level waned as volume and value traded decreased 50.3% and 12.0% to settle at 151.5m units and…

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Nigerian Equities Extend Losses Despite New Listing …NSE ASI down 51bps

Nigerian Equities Extend Losses Despite New Listing …NSE ASI down 51bps

LAGOA (Capital Markets in Africa) – The Nigerian bourse closed in the red for the third consecutive trading session as persistent sell-offs in market bellwethers dragged the benchmark index 0.5% southwards to 25,903.55pts, worsening YTD loss to –3.6%. Price depreciation in NESTLE (-3.7%), NIGERIAN BREWERIES (-3.5%) and ZENITH (-2.0%) were the major drag to performance. Accordingly, market capitalisation reduced by N45.7bn to N8.9tn despite the new listing of Med-View Airline Plc (MEDVIEW) which added N14.6bn to…

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Nigeria Stock Market Consumer Goods Index Marginally Drives Index Higher, NSE ASI up 3bps

Nigeria Stock Market Consumer Goods Index Marginally Drives Index Higher, NSE ASI up 3bps

LAGOS (Capital Markets in Africa) – The Nigerian bourse opened the week slightly positive as bargain hunting in the Brewers drove the index to a close of 26,231.37 points, up 3bps. Although sustained sell-down pressure on NESTLE (-3.4%) remained a drag, renewed investor interest in NIGERIAN BREWERIES (+1.7%), GUINNESS(+2.2%) and OANDO (+3.9%) buoyed market performance as market capitalization added N2.7bn to close at N9.0tn. Similarly, activity level strengthened as volume and value traded improved 12.5% and 27.5% to 228.6m units and…

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MTN May Put Off Nigeria Listing Until 2018 as Barriers Persist

MTN May Put Off Nigeria Listing Until 2018 as Barriers Persist

LAGOS (Capital Markets in Africa) – MTN Group Ltd. may put off plans to list its Nigerian operation until 2018 as Africa’s largest wireless carrier works to resolve a regulatory dispute and awaits an economic recovery in the continent’s most populous country. “It’s a work in progress and hopefully within the 12 to 18 month period we will be able to do it,’’ MTN Chairman and Acting Chief Executive OfficerPhuthuma Nhleko said at the annual meeting of…

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Nigerian Equities Down by 46bps, Profit-Taking in GTBank Continues

Nigerian Equities Down by 46bps, Profit-Taking in GTBank Continues

LAGOS (Capital Markets in Africa) – The Equities market closed negative today as the All Share Index (ASI) lost 46bps to settle at 26,495.04 points while YTD loss worsened to -1.4%. Consequently, investors lost N41.9bn as market capitalization settled at N9.1tn. The negative close can be attributed in sustained profit-taking in banking stocks – GUARANTY (-4.6%) and ETI (-2.4%) – and weaker appetite for WAPCO (-2.3%). Activity level was also thin as volume and value traded fell 41.7% and 36.5% to…

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