Monthly Equities Market Report | Octoberber 2023
Global Market Overview: Reign of the Bears In October, the global equities market closed on a bearish note for the third month consecutively as the MSCI world Index fell 2.98% Month-on-Month. All indices under our coverage, save for the NGX All share Index (+4.30% MoM), came in negative. Domestic Market: Bullish Sentiment Buoyed by Positive […]
Daily Market Update | 4-10-2023
Daily Market Update (Equities) The Nigerian Equities market closed on negative run as its benchmark index lost 0.43% to 66,482.28 points. As a result, its year-to-date (YtD) returns fell to 29.72% (vs. Yesterday: 30.28% YtD). The gains recorded in GTCO, Zenith Bank and Oando were not enough to cover the losses incurred in MTN, Fidelity […]
Daily Market Update | 3-10-2023
The Nigerian Equities market started the week on a positive note as its benchmark index increased by 0.59% to 66,770.97 points. As a result, its year-to-date (YtD) returns closed at 30.28%. The gains recorded in BUECEMENT, GTCO and ACCESS Holdings offset the losses incurred in MTN NIGERIA COMMUINCATION PLC, NIGERIA BREWERIES PLC and NASCON. The […]
Weekly Commentary and Stock Recommendation: 25th September – 29th September 2023
Global Economy According to the US Bureau of Economic Analysis, the US real GDP increased at an annual rate of 2.10% in Q2:2023 (vs. 2.20% in Q1:2023) according to its third estimate. Relative to Q1:2023, the slower growth is underpinned by lower consumption expenditure, decline in exports and downturn in government spending. These were partially offset by […]
Daily Market Update | 29-09-2023
Daily Market Update (Equities) The Nigerian Equities market closed negative as its benchmark index fell by 0.10% to 66,382.14 points (Year-to-Date returns: 29.52%). Gains in BUAFOODS, DANGCEM and DANGSUGAR were offset by loss incurred in BUACEMENT, OANDO and MTNN. The total Volume traded was 292.94mn units while Total Value traded was NGN4.53bn. Today, FIDELITYBANK traded […]
Daily Market Update | 28-09-2023
Daily Market Update (Equities) The Nigerian Equities market continued its negative run as its benchmark index lost 0.31% to 66,448.63 points. As a result, its year-to-date (YtD) returns fell to 29.65% (vs. Tuesday: 30.05% YtD). The gains recorded in ZENITHBANK, FIDELITYBANK and BETAGLAS were not enough to cover the losses incurred in DANGSUGAR, UBA and […]
Daily Market Update | 26-09-2023
Daily Market Update (Equities) The Nigerian Equities market stayed in the red zone in today’s trading session, as its benchmark index shed 0.34% to 66,652.17 points. Consequently its year-to-date (YtD) return dipped to 30.05% from yesterday’s 30.50% YtD. Losses in BUA Cement, GTCo and ZENITHBANK offset the gains recorded in NB, LAFARGE and UNICAP. Total […]
Daily Market Update | 25-09-2023
Daily Market Update (Equities) The Nigerian Equities market began the week on a negative note as its benchmark index declined by 0.66% to settle at 66,882.64 points. Notably, the gains recorded in LAFARGE AFRICA PLC, FLOUR MILLS of NIGERIA PLC and CORNERSTONE INSURANCE PLC were not enough to counter the losses incurred in MTNN, ACCESSCORP […]
Weekly Commentary and Stock Recommendation: 18th September – 22nd September 2023
Global Economy The Bank of England left interest rates unchanged on Thursday for the first time in nearly (2) two years during a long-running battle against persistently high inflation. Consequently, policymakers at the central bank kept interest rates constant at 5.25%, the highest since early 2008, pausing after 14 consecutive rate increases. However, it was […]
Daily Market Update | 21-09-2023
Daily Market Update (Equities) The Nigerian Equities Market closed the day negative as its benchmark index fell by 0.09% to settle at 68,217.14 points in today’s trading session. Consequently, the Year-to-Date (YtD) returns dipped to 33.21% (Yesterday: 33.34% YtD). The losses in Oando, LASACO and CHAMS. offset the gains in JOHNHOLT, DAARCOMM and OMATEK The […]
