March 2024 Monthly Equities Report | Positive Investor Sentiment Across Markets
Global Market Overview: Bull Run Continues – Poised for Further Growth? In March 2024, the global equities market maintained its upward trend, extending its positive performance for the fifth (5th) month in a row. Consequently, the MSCI world Index surged by 3.01% month-on-month (MoM). This positive momentum extended to most of the major global Indices […]
March 2024 Monthly Fixed Income Market Update | Where are Yields Rising to?
Where are Yields Rising to? At the end of March 2024, the secondary Fixed Income (FI) market continued to note upward pressure on yields on a Month-on-Month (MoM) basis. The average yield in the Nigeria Treasury bills (NT-bills) market increased by 76bps MoM to close at 17.66%. Similarly, the FGN Bond market closed negative as […]
Daily Market Update | 03-04-2024
Daily Market Update (Equities) The Nigerian Equities market continued its negative streak and posted a 0.32% decline to 104,181.32 points in today’s trading session. Consequently, the market’s year-to-date (YtD) returns fell to 39.33% from yesterday’s 39.78% YtD. Today, total Volume and Value traded fell by 25.75% and 39.04% each to 405.03mn units and NGN8.91bn, respectively. […]
Banking Sector Update | Review of Minimum Capital Requirements for Banks
Review of Minimum Capital Requirements for Banks On the 28th of March 2024, the Central Bank of Nigeria announced the much-anticipated bank recapitalization guideline. For the recapitalization exercise, the CBN defined the minimum capital for existing banks as paid-up capital and share premium only. This definition effectively excludes shareholders’ funds from the computation. Kindly […]
Daily Market Update | 02-04-2024
Daily Market Update (Equities) The Nigerian Equities market started the week on a negative note, as it posted a 0.04% decline to 104,518.14 points in today’s trading session. This is following losses in BUA CEMENT, NESTLE, DANGSUGAR and NASCON offsetting gains in GTCO, ZENITH BANK, FBNH and UBA. Consequently, the market’s year-to-date (YtD) returns fell […]
Weekly Commentary and Stock Recommendation: 25th March – 28th March 2024
Global Economy Earlier this week, the US Bureau of Economic Analysis (BEA) released its third estimate of the US Q4:2023 and 2023FY GDP. According to the BEA, Real gross domestic product (GDP) increased by 3.4% YoY in Q4:2023 (vs 4.9% YoY in Q3:2023). Compared to Q3:2023, the deceleration in real GDP in Q4:2023 primarily reflected […]
Daily Market Update | 28-03-2024
Daily Market Update (Equities) The Nigerian Equities market continued its positive streak, as it posted a 0.27% gain to 104,562.06 points in today’s trading session. This is following gains in MTNN, TRANSCORP, ACCESSCORP and LAFARGE offsetting losses in STANBIC, DANSUGAR, FCMB and OANDO. Consequently, the market’s year-to-date (YtD) returns increased to 39.84% from yesterday’s 39.47% […]
Daily Market Update | 27-03-2024
Daily Market Update (Equities) The Nigerian Equities market rebounded from its two-day negative returns, as it posted a 0.32% gain in today’s trading session. This is following gains in ZENITHBANK, GTCO, UBA and ACCESSCORP offsetting losses in FBNH, MTNN, TRANSCORP and INTBREW. Consequently, the market’s year-to-date (YtD) returns increased to 39.47% from yesterday’s 39.02% YtD. […]
Post Monetary Policy Committee Meeting March 2024 – CBN Maintains Hawkish Stance
Post Monetary Policy Committee Meeting March The second (2nd) Monetary Policy Committee (MPC) meeting in 2024 held on the 25th and 26th of March. The committee reviewed recent economic and financial developments as well as assessed risks to the outlook. Following its deliberation, the committee decided to tighten the MPR by 200bps to 24.75% from […]
Daily Market Update | 26-03-2024
Daily Market Update (Equities) Extending its negative run, the Nigerian Equities market lost 0.18% in today’s trading session, following the inability of gains in ZENITHBANK, GTCO, UBA and JAIZBANK to offset losses incurred in MTNN, FBNH, ACCESSCORP and UNICAP. Consequently, the market’s year-to-date (YtD) returns fell to 39.02% from yesterday’s close of 39.27% YtD. Today, […]
