Weekly Commentary and Stock Recommendation: 11th December – 15th December 2023
Global Economy Earlier this week, the Federal Reserve kept interest rates unchanged at the end of its policy meeting. The widely expected decision kept the target range for the federal-funds rate at 5.25-5.50%. The median forecast in Federal Open Market Committee members’ latest Summary of Economic Projections has the federal-funds rate ending 2024 at 4.6%. […]
Daily Market Update | 14-12-2023
Daily Market Update (Equities) For the fourth straight trading session, the Nigerian Equities market closed on a positive note, as the NGX All Share Index (ASI) gained 0.22% to settle at 72,458.03 points. Consequently, the market’s year-to-date (YtD) returns climbed to 41.38% (vs 41.07% yesterday). This was driven by gains in ACCESSCORP, ZENITH and UBA […]
Daily Market Update | 13-12-2023
Daily Market Update (Equities) The Nigerian Equities market closed the day on a positive note as the NGX All Share Index (ASI) increased by 0.55% to 72,299.79 points. Consequently, the market’s year-to-date (YtD) returns settled at 41.07% from 40.30% yesterday. This was spurred on by gains in ACCESSCORP, FBNH and TRANSCORPHOTELS offsetting losses incurred in […]
Daily Market Update | 12-12-2023
Daily Market Update (Equities) The Nigerian Equities market closed positive today as the benchmark index increased by 0.33% to 71,907.26 points, pushing the market’s Year-to-Date (YtD) returns past 40.00% to 40.30% (vs. Yesterday: 39.84% YtD). This is on the back strong gains in MTNN, UBA and TRANSCORPHOTELS, which countered losses in FBNH, CONOIL and JAIZBANK. […]
Daily Market Update | 11-12-2023
Daily Market Update (Equities) The Nigerian Equities market started the week on a positive note, as the NGX All Share Index (ASI) increased by 0.18% to settle at 71,669.91 points. This was driven by gains in ECOBANK, MTNN and BUACEMENT which offset losses incurred on FBNH, TRANSCORPHOTELS and TRANSCORP. Consequently, the market’s year-to-date (YtD) returns […]
Weekly Commentary and Stock Recommendation: 4th December – 8th December 2023
Global Economy Eurostat published the EU’s Q3 GDP for 2023 earlier this week. The data indicates that, in comparison to Q2:2023, seasonally adjusted GDP in the euro area fell by 0.1% QoQ in Q3:2023 and stayed steady in the EU. The GDP of the EU and the euro area grew by 0.1% QoQ in Q2:2023. […]
Daily Market Update | 08-12-2023
Daily Market Update (Equities) The Nigerian equities market closed positive today as its benchmark index, the NGX All Share Index (ASI), rose by 0.12% to reach 71,541.74 points. Consequently, its Year-to-Date (YtD) returns went up to 39.59% compared to yesterday’s 39.43%. Gains recorded in AIRTELAFRICA, ECOBANK, and UBA offset the losses in FBNH, BUACEMENT, and […]
Daily Market Update | 07-12-2023
Daily Market Update (Equities) The Nigerian equities market witnessed a downward trajectory today as its benchmark index, the NGX All Share Index (ASI), declined by 0.49% to reach 71,457.92 points. Consequently, its Year-to-Date (YtD) returns dropped to 39.43% compared to yesterday’s 40.11%. Losses recorded in FBN Holdings, Access Holdings, and Zenith offset the gains in […]
Daily Market Update | 06-12-2023
Daily Market Update (Equities) The Nigerian Equities market continued its positive trajectory, as its benchmark index, the NGX All Share Index (ASI) rose by 0.78% to 71,808.64 points. Consequently, its Year-to-Date (YtD) returns went up to 40.11% (vs 39.02% Yesterday). The gains in FBNH, Access Holdings and Stanbic IBTC offset the losses recorded in OANDO, […]
Daily Market Update | 05-12-2023
Daily Market Update (Equities) The Nigerian Equities market rebounded from its loss yesterday, as its benchmark index, the NGX All Share Index (ASI) rose by 0.43% to 71,250.17 points. Consequently, its Year-to-Date (YtD) returns went up to 39.02% (vs 38.43% Yesterday). The gains in BUACEMENT, FBNH and Access Holdings offset the losses in Airtel Africa, […]
