H1:2024 Nigeria Strategy Report | Rocky Road to Resilience
In this report, we examined the events of the second half of 2023, focusing on the global economy, domestic economy and domestic capital market. Afterwards, we gave an outlook for the first half of 2024 as well as investment strategies that will guide investors in making the right decisions. EXECUTIVE SUMMARY 2023FY unfolded as quite […]
Weekly Commentary: 8th January – 12th January 2024
Global Economy The US Bureau of Labor Statistics (BLS) published US December 2023 CPI data earlier this week. The Headline Consumer Price Index (CPI) rose 0.3% MoM in December 2023, up from 0.1% MoM in November 2023. In December 2023, the Core Index—which excludes food and energy—rose by 0.3% MoM, remaining constant from November 2023. Several indexes saw […]
Daily Market Update | 12-01-2024
Daily Market Update (Equities) The Nigerian equities market continued its positive streak today, with the NGX All Share Index (ASI) rising 0.54% to 83,042.96 points. The positive performance pushed the year-to-date (YtD) returns to 11.06%, up from 10.46% yesterday. The gains recorded in BUAFOODS, GTCO and Transnational Corp offset the losses in BUACEMENT, ZENITH and […]
Daily Market Update | 11-01-2024
Daily Market Update (Equities) The Nigerian Equities market had a positive trading session today as the NGX All Share Index (ASI) increased by 0.70% to 82,597.04points. Consequently, the market’s year-to-date (YtD) returns rose to 10.46% (vs 9.70% Yesterday). The gains recorded in FBNH, UBA and GTCO offset the losses in Abbey Mortgage Bank, Honeywell Flour […]
CBN Dissolves Boards of Union, Keystone, and Polaris Banks
The Central Bank of Nigeria (CBN) has undertaken a significant supervisory action, dissolving the boards and management of Union Bank, Keystone Bank, and Polaris Bank. This decision stems from concerns regarding the banks’ adherence to regulations and corporate governance principles. The CBN cited non-compliance with specific provisions of Section 12(c), (f), (g), and (h) of […]
Daily Market Update | 10-01-2024
Daily Market Update (Equities) The Nigerian Equities market closed on a negative note today as the NGX All Share Index (ASI) declined by 1.45% to 82,024.38points. Consequently, the market’s year-to-date (YtD) returns went down to 9.70% (vs 11.31% Yesterday). The losses recorded in MTNN, ZENITH and GTCO offset the gains in DANGCEM, BUAFOODS and Transcorp […]
Daily Market Update | 09-01-2024
Daily Market Update (Equities) The Nigerian Equities market continued its positive trend as the NGX All Share Index (ASI) went up by 3.62% to 83,229.46points. Consequently, the market’s year-to-date (YtD) returns rose to 11.31% (vs 7.24% Yesterday). The gains recorded in DANGCEM, MTNN and BUAFOODS offset the losses in TOTAL, Champion Breweries and DAARCOMM. The […]
Daily Market Update | 08-01-2024
Daily Market Update (Equities) The Nigerian Equities market closed the day positively as the NGX All Share Index (ASI) went up by 0.83% to 80,324.53points. Consequently, the market’s year-to-date (YtD) returns settled at 7.24% compared to 6.54% on Friday. The gains recorded in Lafarge Africa PLC, Transnational Corp of Nigeria and GTCO offset the losses […]
Weekly commentary 2nd January – 5th January 2024
Global Economy China’s private Caixin Manufacturing Purchasing Managers’ Index (PMI) reached 50.8 in December 2023, its highest level in four months, earlier this week, suggesting a steady rebound in the country’s medium- and small-sized firms. According to the report, firms experienced a more robust rise in output and new orders from the market. The fastest […]
Daily Market Update 04-01-2024
Daily Market Update (Equities) The Nigerian Equities market closed the day on a positive note as the NGX All Share Index (ASI) went up 0.62% to 78,020.54 points. Consequently, the market’s year-to-date (YtD) returns settled at 4.34% from 3.70% yesterday. Total Volume increased by 6.92% to NGN984.19mn units, similarly, Total Value went up by 6.03% […]
