Weekly Commentary and Stock Recommendation: 16th October – 20th October 2023
Global Economy Earlier this week, the Office of National Statistics (ONS) released the UK September 2023 Consumer Price Index (CPI) report. According to the report, the CPI rose by 6.7% Year-on-Year (YoY) in September 2023, unchanged from August 2023. Month-on-Month (MoM), CPI rose by 0.5% in September 2023, also unchanged from September 2022. The largest […]
Daily Market Update | 20-10-2023
Daily Market Update (Equities) The Nigerian Equities market closed the week with a performance decline as its benchmark index fell by 0.27% to 66,915.41 points. As a result, its year-to-date (YtD) returns decreased to 30.56% (vs. Yesterday’s YtD: 30.92%). The losses recorded in GEREGU, DANGSUGAR and FLOUR MILLS offset the gains incurred in UBA, ACCESSCORP […]
Daily Market Update | 19-10-2023
Daily Market Update (Equities) Today, the Nigerian Equities market performance declined as its benchmark index fell by 0.38% to 67,098.80 points. Notably, its year-to-date (YtD) returns rose to 30.92% (vs. Yesterday’s YtD: 31.42%). The losses recorded in STANBIC IBTC, ACCESSCORP and MTNN offset the gains incurred in GTCO, FIDSON and SUNU ASSURANCE. The Total Volume […]
Daily Market Update | 18-10-2023
Daily Market Update (Equities) Today, the Nigerian Equities market performance improved as its benchmark index rose by 0.04% to 67,353.23 points. Notably, its year-to-date (YtD) returns rose to 31.42% (vs. Yesterday’s YtD: 31.37%). The gains recorded in ZENITH BANK, UBA and GTCO offset the losses incurred in ACCESSCORP, LAFARGE and UNITED CAPITAL. The Total Volume […]
Daily Market Update | 17-10-2023
Daily Market Update (Equities) Today, the Nigerian Equities market performance improved as its benchmark index rose by 0.43% to 67,326.12 points. Notably, its year-to-date (YtD) returns rose to 31.37% (vs. Yesterday’s YtD: 30.80%). The gains recorded in STANBIC IBTC, DANGSUGAR and ACCESSCORP offset the losses incurred in NB, E-TRANZACT and TRANSCORP. The Total Volume and […]
September 2023 CPI Report | A New High
A New High Yesterday, the Nigerian Bureau of Statistics (NBS) released the inflation report for September 2023. Headline inflation soared by 92bps Year-on-Year (YoY) to 26.72% (vs 25.80% YoY in August 2023). The increase in headline inflation can be attributed to the rise in the food inflation (+130bps YoY to 30.64%) and core inflation (+69bps […]
Daily Market Update | 16-10-2023
Daily Market Update (Equities) Today, the Nigerian Equities market performance declined as its benchmark index fell by 0.24% to 67,037.93 points. Notably, its year-to-date (YtD) returns fell to 30.80% (vs. Friday’s YtD: 31.12%). The losses recorded in STANBIC IBTC, OKOMUOIL and OANDO offset the gains incurred in DANGSUGAR, UBA and ACCESSCORP. The Total Volume and […]
Weekly Commentary and Stock Recommendation: 9th October – 13th October 2023
Global Economy In China, according to China’s Bureau of Statistics, the consumer price index (CPI) was flat YoY in September 2023 (vs. 0.1% YoY in August 2023), while it inched upward by 0.2% MoM in September 2023 (vs. 0.1% MoM in August 2023). The Statistics Bureau attributed the flatlining on a YoY basis to base […]
Daily Market Update | 13-10-2023
Daily Market Update (Equities) The Nigerian Equities market closed the week positively as its benchmark index rose by 0.10% to 67,200.69 points. As a result, its year-to-date (YtD) returns increased to 31.12% (vs. Yesterday’s YtD: 30.99%). The gains recorded in DANGSUGAR, NASCON and ACCESSCORP offset the losses incurred in Transnational Corp, FBNH and SFH. The […]
CBN’s Commitment to Boosting FX Liquidity amid FX Supply Issues
Yesterday, the Central Bank of Nigeria (CBN) issued a circular reaffirming its dedication to enhancing foreign exchange (FX) liquidity and addressing the recent FX challenges in the market. The bank’s plan encompasses six (6) key points, one of which involves lifting the restrictions placed on the forty-three (43) items prohibited from accessing FX through the […]
