Skip to main content

Monthly Equities Market Report

Global Market Overview: Reign of the Bears

Global equities market closed bearish as the MSCI World Index fell by 2.55% Month-on-Month (MOM). This negative performance reflected on all the global indices under our coverage save for Nigeria’s NGX All Share Index (ASI). For context, United States’ S&P 500 (-1.77% MoM) declined despite easing inflationary pressures, however, rising treasury yields shored returns.

Domestic Market: Bullish Momentum Teetering on the Edge

Bullish sentiment continued to dominate the Nigerian equities market for the eighth (8th) consecutive month this year, albeit at a noticeably slower pace. In August, the market recorded a 3.44% MoM increase, settling at 66,548.99 points (vs. 5.53% MoM increase to 64,337.52 points in July 2023). Consequently, year-to-date (YtD) returns rose from 25.53% in July 2023 to a solid 29.85% in August 2023. Notably, on August 29th, 2023, the NGX All Share Index (ASI) reached a 15-year peak, registering 66,490.34 points, the highest level since the 66,371.20 points recorded on March 5th, 2008.


Kindly click here for the full report.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

Leave a Reply