Daily Market Update | 25-03-2024
Daily Market Update (Equities) The Nigerian equities market started the week on a negative note, as the NGX All Share Index (ASI) declined by 0.49% to 104,136.35 points. As a result, the market’s year-to-date (YtD) returns fell to 39.27% compared to 39.95% YtD recorded on Friday. Losses in Dangote Sugar, Transnational Corp and Ecobank offset […]
Weekly Commentary and Stock Recommendation: 18th March – 22nd March 2024
Global Economy Earlier this week, data from the office of National statistics showed the UK Consumer Prices Index (CPI) rose by 3.4% YoY in February 2024, down from 4.0% YoY in January 2024. On a MoM basis, CPI rose by 0.6% in February 2024, compared with a rise of 1.1% MoM in February 2023. Core […]
Daily Market Update | 22-03-2024
Daily Market Update (Equities) The Nigerian equities market continued its positive run today, with the NGX All Share Index (ASI) climbing 0.25% to settle at 104,647.37 points. This upward movement pushed the year-to-date (YtD) return further to 39.95%, compared to yesterday’s 39.60%. Gains recorded in heavyweight stocks like GTCO, FBNH, and TRANSCORP outweighed losses in […]
Daily Market Update | 21-03-2024
Daily Market Update (Equities) The Nigerian equities market snapped from a three-day losing streak, with the NGX All Share Index (ASI) rising by 0.13% to close at 104,387.47 points. As a result, the market’s year-to-date (YtD) return went up to 39.60%, compared to yesterday’s 39.43%. Gains recorded in heavyweight stocks like BUACEM, TRANSCORP, and ZENITH […]
Daily Market Update | 20-03-2024
Daily Market Update (Equities) The Nigerian equities market extended its losing streak for a third consecutive day. The NGX All Share Index (ASI) dipped by 0.28% to close at 104,256.81 points. This decline pushed the year-to-date (YtD) return down to 39.43%, compared to yesterday’s 39.83%. Selling pressure dominated the market, with losses recorded in heavyweight […]
Daily Market Update | 19-03-2024
Daily Market Update (Equities) The Nigerian equities market extended its downtrend today, with the NGX All Share Index (ASI) falling by 0.11% to close at 104,553.31 points. This decline pushed the year-to-date (YtD) return down to 39.83%, compared to yesterday’s 39.97%. Losses in heavyweight stocks like MTNN, ZENITH, and GTCO outweighed gains in FBNH, LAFARGE, […]
Daily Market Update | 18-03-2024
Daily Market Update (Equities) The Nigerian equities market opened the week on a negative note, as the NGX All Share Index (ASI) declined by 0.40% to 104,663.34 points. As a result, the market’s year-to-date (YtD) returns fell to 39.97% compared to 33.19% YtD recorded on Friday. Losses in MTNN, GTCO and DANGSUGAR offset the gains […]
Weekly Commentary and Stock Recommendation: 11th March – 15th March 2024
Global Economy Earlier this week, the US Census Bureau released retail trade data. According to the Census Bureau, advance estimates of U.S. retail and food services sales for February 2024, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were USD700.7bn, up 0.6% MoM from January 2024, and up […]
February 2024 CPI Report: Inflation Marches on
Inflation Marches on Yesterday, the National Bureau of Statistics (NBS) published the Consumer Price Index (CPI) for February 2024. The headline inflation continued on its upward trend, soaring by 180bps to 31.70% YoY compared to 29.90% YoY reported in January 2024. This upsurge was propelled by increases in its two (2) significant subcomponents: food (+251bps […]
Daily Market Update 14-03-2024
Daily Market Update (Equities) The Nigerian equities market started the week on a positive note, as the NGX All Share Index (ASI) increased by 0.05% to settle at 104,056.21 points. As a result, the year-to-date (YtD) return went up to 39.16% compared to last Friday’s 3.10% YtD . The total Volume traded declined by 30.08% […]
