Daily Market Update | 18-04-2024
Daily Market Update (Equities) Today, negative returns permeated the Nigerian equities market as the NGX All-Share Index (NGX ASI) eclined by 0.06% to settle at 99,845.91 points. As a result, the year-to-date (YtD) returns fell to 33.53% (vs. Yesterday: 33.62% YtD). The poor performance of the market today can be linked to losses in GTCO, […]
Daily Market Update | 17-04-2024
Daily Market Update (Equities) Today, the Nigerian equities market rebounded from its consecutive negative run, as the NGX All-Share Index (NGX ASI) rose by 0.10% to close at 99,909.54 points. As a result, the year-to-date (YtD) returns rose to 33.62% from yesterday’s 33.48% YtD. This is following gains in FBNH, FIDELITYBK and ACCESSCORP which offset […]
Daily Market Update | 16-04-2024
Daily Market Update (Equities) The Nigerian equities market extended its negative run today, as the NGX All-Share Index (NGX ASI) declined by 1.93% to close at 99,808.34 points, bringing the year-to-date (YtD) returns to 33.48% from yesterday’s 36.11% YtD. This is following gains in UNIVINSURE, VERIKAP and MORISSON being offset significantly by loses in DANGCEM, […]
March 2024 CPI Report: A Moderation in Sight?
A Moderation in Sight? Yesterday, the National Bureau of Statistics (NBS) published the Consumer Price Index (CPI) for March 2024. Headline inflation sustained its upward trajectory, climbing 150bps to 33.20% Year-on-Year (YoY), up from 31.70% YoY recorded in February 2024. This was driven by significant increases in its two (2) main subcomponents: food (+209bps to […]
Daily Market Update | 15-04-2024
Daily Market Update (Equities) The Nigerian equities market started negative on note, as the NGX All-Share Index (NGX ASI) went down by 0.53% to close at 101,777.12 points. Consequently, the market’s year-to-date (YTD) returns dipped to 36.11%, down from Friday’s closing of 36.83%. Trading activity also saw a significant decline today. Total volume and value […]
Weekly Commentary and Stock Recommendation: 8th April – 12th April 2024
Global Economy Earlier this week, the Governing Council of the European Central Bank (ECB) decided to keep its monetary policy rates unchanged. While overall inflation levels have been tapering, the ECB observed that domestic price pressures remain unabated, keeping services inflation elevated. Consequently, the interest rate on the main refinancing operations, the interest rates on […]
Daily Market Update | 08-04-2024
Daily Market Update (Equities) The Nigerian equities market opened the week on a negative note, with the NGX All-Share Index (NGX ASI) dipping 0.33% to close at 103,096.85 points. Gains in STERLING, TRANSCORP, AIICO, and OANDO were offset by losses in GTCO, FBNH, UBA, and ZENITH. Consequently, the market’s year-to-date (YTD) returns fell slightly to […]
Weekly Commentary and Stock Recommendation: 2nd April – 5th April 2024
Global Economy Earlier this week, we saw data from China detailing that services activity growth in the country accelerated in March 2024 as new business rose at the fastest pace in three months, a sign outlook was staging an imminent recovery in the world’s second-largest economy. The Caixin/S&P Global services purchasing managers’ index (PMI) rose […]
Daily Market Update | 05-04-2024
Daily Market Update (Equities) The Nigerian Equities market closed negative for the fourth consecutive day, as it posted a 0.29% decline to 103,437.67 points in today’s trading session. This is following losses in FBNH, MTNN, GTCO and ZENITH offsetting gains in DANGSUGAR, OKOMU, STERLING and UCAP. Consequently, the market’s year-to-date (YtD) returns fell to 38.33% […]
Daily Market Update | 04-04-2024
Daily Market Update (Equities) The Nigerian Equities market continued its negative trajectory this week, falling by 0.43% to 103,736.08 points in today’s trading session. This is following losses in GTCO, MTNN, FBNH and UBA offsetting gains in DANGSUGAR, ECOBANK, FCMB and NEM. Consequently, the market’s year-to-date (YtD) returns fell to 38.73% from yesterday’s 39.33% YtD. […]
