Daily Market Update | 4-03-2024
Daily Market Update (Equities) The Nigerian equities market started the week on a positive note, as the NGX All Share Index (ASI) increased by 0.10% to settle at 98,847.89 points. As a result, the year-to-date (YtD) returns printed at 32.20% compared to Friday’s 32.07% YtD returns. The positive market sentiment was driven by gains in […]
Weekly Commentary and Stock Recommendation: 26th February – 1st March 2024
Global Economy Japan’s core consumer inflation decreased for a third consecutive month in January 2024, reaching 2.00% YoY, ahead of market estimates but remaining in line with the central bank’s 2% target, according to Japanese e-Stat earlier this week. The emergence of wage-driven inflation factors outweighing cost-push drivers of prices would further boost anticipation of […]
Daily Market Update | 1-03-2024
Daily Market Update (Equities) Today, the Nigerian equities market closed negative, falling by 1.23% to 98,751.98 points. This pushed market’s year-to-date (YtD) returns down to 32.07% (vs. Yesterday: 33.71% YtD). Total volume traded (-30.92% to 367.62mn units) and total value traded (-20.38% to NGN6.78bn) closed lower. ACCESSCORP noted the highest trade in terms of volume […]
News Update | CBN Holds a Foreign Portfolio Investment Call
CBN Holds a Foreign Portfolio Investment (FPI) Call Yesterday, the Central Bank of Nigeria (CBN) hosted a Foreign Portfolio Investor (FPI) call, and notable points pertaining to monetary policy focus in attracting increased foreign investment and promoting a conducive investment landscape were discussed. These talking points are summarized below: The CBN confirmed plans to increase […]
Daily Market Update | 29-02-2024
Daily Market Update (Equities) Today, the Nigerian equities market closed positive, rising by 0.68% to 99,980.30 points. This pushed market’s year-to-date (YtD) returns up to 33.71% (vs. Yesterday: 32.80% YtD). Total volume traded (+34.31% to 532.18mn units) and total value traded (+46.21% to NGN8.52bn) closed higher. JAPAULGOLD noted the highest trade in terms of volume […]
Daily Market Update | 28-02-2024
Daily Market Update (Equities) Today, the Nigerian equities market closed negative, declining by 1.27% to 99,302.57 points. This pushed market’s year-to-date (YtD) returns down to 32.80% (vs. Yesterday: 34.52% YtD). Losses in FBNH, GTCO, and DANGSUGAR outweighed gains in PZ, AXA MANSARD, and NIGERIA AVIATION HANDLING CO, contributing to the negative performance. Total volume traded […]
Post Monetary Policy Committee Meeting February 2024 – MPC Takes a More Aggressive Stance Against Inflation
Post Monetary Policy Committee Meeting February The first (1st) Monetary Policy Committee (MPC) meeting chaired by the new Central Bank of Nigeria (CBN) Governor, Dr. Yemi Cardoso, was held on the 26th and 27th of February 2024. At the meeting, monetary policy tools were aggressively tightened to rein in inflation and curb excess money supply. […]
Daily Market Update | 27-02-2024
Daily Market Update (Equities) Today, the Nigerian equities market closed negative, declining by 1.38% to 100,582.89 points. This pushed market’s year-to-date (YtD) returns down to 34.52% (vs. Yesterday: 36.41% YtD). Losses in MTNN, FBNH, and UBA outweighed gains in TRANSCORP, STERLING, and AFRICA PRUDENTIAL, contributing to the negative performance. Total volume traded (-4.71% to 280.46mn […]
Daily Market Update | 26-02-2024
Daily Market Update (Equities) Today, the Nigerian equities market closed negative, declining by 0.09% to 101,995.21 points. This pushed market’s year-to-date (YtD) returns down to 36.41% (vs. Yesterday: 36.53% YtD). Losses in NESTLE, DANGSUGAR, and ACCESSCORP outweighed gains in FBNH, NASCON, and GTCO, contributing to the negative performance. Total volume traded (+1.14% to 294.32mn units) […]
Q4:2023 and 2023FY GDP Report | Nigerian Economy Still On the Path of Expansion
Nigerian Economy Still On the Path of Expansion Recently, the National Bureau of Statistics (NBS) published the Gross Domestic Product (GDP) report for Q4:2023. For the thirteenth (13th) consecutive quarter since Q2:2020, the Nigerian economy grew by 3.46% YoY, an improvement from Q3:2023 (+2.54% YoY). This was spurred by growth in both the oil (+12.11% […]
