Daily Market Update | 09-10-2023
Daily Market Update (Equities) The Nigerian Equities market closed positive as its benchmark index surged by 0.97% to 67,101.33 points. Consequently, its year-to-date (YtD) returns increased to 30.93% (vs. Friday’s: 29.66% YtD). The gains recorded in BUACEMENT, NB and DANGSUGAR offset the losses incurred in International Breweries, GTCO and E-Tranzact International. The Total Volume and […]
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 […]
FTSE Russell Downgrades Nigeria’s Market Status
Recently, FTSE Russell announced the downgrading of Nigeria’s FTSE Equity Country Classification Status from a Frontier market status to an Unclassified market status. Furthermore, from September 18th 2023, Nigerian index constituents will be removed from various FTSE Russell equity indices, valued at zero (NGN0.0001). The equity indices include: FTSE Frontier Index Series, including the FTSE Frontier […]
Daily Market Update | 15-08-2023
Today, the Nigerian equities market closed on a negative note as the bench mark index declined 0.43% to close at 64,928.98 points. Consequently, its Year-to-Date return printed at 26.69% (Yesterday: 27.24%). The weak performance was primarily driven by selloffs in Dangote Sugar Refinery PLC, FBNH Holdings PLC, Access Holdings PLC and United Bank for Africa […]
Weekly Commentary and Stock Recommendation: 24th July – 28th July 2023
This is a brief summary of the economic events that occurred this week in the global and domestic space. This report also provides investment strategies for investors in the coming week. Global Economy Earlier this week, the US Federal Reserve (Fed) announced a hike in its benchmark rate for the 11th time since its hiking […]
Daily Market Update | 19-07-2023
Daily Market Update (Equities) For the first time this week, Nigerian Equities market closed on a negative note, as its benchmark index declined marginally by 0.01% to settle at 63,757.23 points. As a result, the Year-to-Date returns on the benchmark index declined to 24.40% (Yesterday: 24.42%). The major market movers for today include MTN Nigeria […]
Daily Market Update
Daily Market Update (Equities) In today’s daily market update, the Nigerian Equities market recovered from its negative close last week, as its benchmark index gained 0.60%. The primary drivers of the market’s positive performance were investors’ interest in FBN Holdings PLC, Access Holdings PLC, Geregu Power PLC, Zenith Bank PLC and United Bank for Africa […]
Nigeria Strategy Report H2:2023 – A Bright Spot in Sight?
In this report, we will examine the events of the first half of the year, focusing on the global economy, domestic economy and domestic capital market. Afterwards, we provide an outlook for the second half of 2023 as well as investment strategies that will guide investors in making the right decisions. GLOBAL ECONOMY The year […]
