Daily Market Update | 11-07-2024
Daily Market Update (Equities) The Nigerian equities market continued its downward trend for the fourth consecutive trading day this week. The NGX All Share Index dipped by 0.33%, closing at 99,468.90 points. This decline pushed the market’s year-to-date (YTD) return down to 33.03%, compared to 33.47% YTD yesterday. Losses in SEPLAT, TRANSCORP, and ACCESSCORP were […]
Weekly Commentary and Stock Recommendation: 1st July – 5th July 2024
Global Economy A private Purchasing Manager Index (PMI) survey released earlier this week stated that the Caixin/S&P Global manufacturing PMI increased to 51.8 in June 2024 from 51.7 in May 2024, which was the quickest clip since May 2021. For eight months running, the index—which primarily includes smaller, export-focused businesses—has been above the 50-point threshold […]
Daily Market Update | 05-07-2024
Daily Market Update (Equities) Today, the Nigerian equities market extended its negative trend as the NGX All Share Index fell by 0.04% to close at 100,022.03 points. As a result, the year-to-date (YtD) market return declined to 33.77%, compared to 33.82% yesterday. This negative performance was driven by losses in FBNH, ACCESSCORP and JBERGER offsetting […]
Daily Market Update | 04-07-2024
Daily Market Update (Equities) Today, the Nigerian equities market reversed course, shedding yesterday’s gains. The NGX All Share Index dipped 0.23% to close at 100,065.68 points. This decline pushed the year-to-date (YtD) return down to 33.82%, compared to 34.14% yesterday. This negative performance was driven by losses in MTNN, WAPCO and CHAMPION offsetting gains in […]
Daily Market Update | 02-07-2024
Daily Market Update (Equities) Today, the Nigerian Equities market halted it downward trend, as the NGX All Share Index gained 0.05% to settle at 100,067.77 points. Consequently, the market’s year-to-date (YtD) returns rose to 33.83% compared to Monday’s 33.76% YtD return. This positive sentiment was driven by gains in ZENITHBANK, GTCO and ACCESSCORP offsetting losses […]
Daily Market Update | 01-07-2024
Daily Market Update (Equities) The Nigerian Equities market started the week on a negative note, as the NGX All Share Index declined by -0.04% to settle at 100,020.83 points. This pushed the market’s year-to-date (YtD) returns up to 33.76% (vs. Friday: 33.81% YtD). Today, total Volume and Value traded each decreased by 46.11% and 62.44% […]
Daily Market Update | 15-05-2024
Daily Market Update (Equities) Today, the Nigerian Equities market sustained its bearish run, as the All-Share Index (ASI) dipped by 0.13% to close at 97,343.42 points. As a result, the market’s year-to-date (YtD) returns fell to 30.18% from 30.36% YtD yesterday. However, market activity was positive today, with the total volume and value traded rising […]
Weekly Commentary and Stock Recommendation: 29th April – 3rd May 2024
Global Economy Earlier this week, the Federal Reserve left its key monetary policy rate unchanged, a position held since July 2023, at a ten year plus high of 5.25%-5.50%. This was underpinned by sticky prices, as inflation remained higher than the Fed’s 2% inflation target in March 2024, at 3.5% YoY. Elsewhere, in the EU, […]
Weekly Commentary and Stock Recommendation: 22nd April – 26th April 2024
Global Economy Earlier this week, S&P Global released flash Purchasing Manager Index (PMI) reports for both the UK and US. The headline S&P Global Flash US PMI Composite Output Index dropped to 50.9 points in April 2024 from 52.1 points in March 2024. The S&P Global Flash US Manufacturing PMI, which considers a wide range […]
Daily Market Update | 26-04-2024
Daily Market Update (Equities) The Nigerian equities market edged slightly higher today. The All-Share Index (ASI) rose a modest 0.01% to close at 98,176.76 points. This minor gain pushed the year-to-date (YTD) return to 31.30%, up from 31.29% yesterday. Driving the modest gain were stocks like FBNH, STANBIC, and ACCESSCORP, which counterbalanced losses in ZENITH, […]
