Daily Market Update | 19-03-2024
Daily Market Update (Equities) The Nigerian equities market extended its downtrend today, with the NGX All Share Index (ASI) falling by 0.11% to close at 104,553.31 points. This decline pushed the year-to-date (YtD) return down to 39.83%, compared to yesterday’s 39.97%. Losses in heavyweight stocks like MTNN, ZENITH, and GTCO outweighed gains in FBNH, LAFARGE, […]
Weekly Commentary and Stock Recommendation: 11th March – 15th March 2024
Global Economy Earlier this week, the US Census Bureau released retail trade data. According to the Census Bureau, advance estimates of U.S. retail and food services sales for February 2024, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were USD700.7bn, up 0.6% MoM from January 2024, and up […]
Daily Market Update | 05-03-2024
Daily Market Update (Equities) Today, the Nigerian equities market closed on a positive note, as the NGX All Share Index (ASI) went up by 0.35% to settle at 99,192.82 points. As a result, the year-to-date (YtD) returns printed at 32.66% (vs. Yesterday’s 32.20% YtD returns). The positive market sentiment was driven by gains in FBNH, […]
Monthly Fixed Income Market Report | February 2024
Monthly Fixed Income Market Report In February, the Nigerian fixed income market experienced a significant increase in yields. The FGN bond market average yield surged by 273bps Month-on-Month (MoM) to close at 17.22%, while the average yields in the Nigerian Treasury Bills market jumped by a significant 775bps MoM to settle at 16.90%. Overall, the […]
Daily Market Update | 1-03-2024
Daily Market Update (Equities) Today, the Nigerian equities market closed negative, falling by 1.23% to 98,751.98 points. This pushed market’s year-to-date (YtD) returns down to 32.07% (vs. Yesterday: 33.71% YtD). Total volume traded (-30.92% to 367.62mn units) and total value traded (-20.38% to NGN6.78bn) closed lower. ACCESSCORP noted the highest trade in terms of volume […]
Daily Market Update | 23-02-2024
Daily Market Update (Equities) Today, the Nigerian equities market bounced back from its previous day loss, climbing 0.84% to 102,088.10 points. Consequently, the market’s year-to-date (YtD) returns printed at 36.53% (vs. Yesterday: 35.39% YtD). Gains in BUAFOODS, FBNH, and Transnational Corp outweighed losses in ZENITH, GTCO, and NB, contributing to the positive performance. Market sentiment […]
Daily Market Update | 22-02-2024
Daily Market Update (Equities) Today, the Nigerian equities market reverted to negative territory, declining by 0.12% to 101,239.10 points. This pushed market’s year-to-date (YtD) returns down to 35.39% (vs. Yesterday: 35.56% YtD). Losses in Stanbic IBTC, ACCESSCCORP, and Transnational Corp outweighed gains in GTCO, FBNH, and FIDELITYBANK, contributing to the negative performance. Market sentiment was […]
Daily Market Update | 19-02-2024
Daily Market Update (Equities) The Nigerian equities market started the week on a negative note, as the NGX All Share Index (ASI) closed down by 3.15% to settle at 102,393.23 points. As a result, the year-to-date (YtD) returns printed at 36.94% compared to Friday’s 41.39% YtD returns. The negative market sentiment witnessed was propelled by […]
Weekly Commentary and Stock Recommendation: 9th February – 16th February 2024
Global Economy In January 2024, headline inflation in the US saw a slight uptick, rising by 0.3% month-on-month (MoM), compared to December’s 0.2% MoM increase, as reported by the Bureau of Labor Statistics (BLS). However, year-on-year (YoY) inflation experienced a slight decrease, settling at 3.1%, down from December’s 3.4% YoY. The increase in inflation was primarily propelled […]
Daily Market Update | 16-02-2024
Daily Market Update (Equities) Today, the Nigerian equities market closed positive for the 3rd consecutive trading day, as the NGX All Share Index (ASI) increased by 1.56% to settle at 105,722.78 points. Consequently, the year-to-date (YtD) returns surged to 41.39% (vs 39.22% YtD yesterday). This positive sentiment in the market was driven by gains in […]
