Weekly Commentary and Stock Recommendation: 14th October – 18th October 2024

Stock Market Despite observing losses in two (2) trading days this week, investors closed the week in a happy mood as the market gained 0.47% Week-on-Week (WoW), representing a market capitalization gain of NGN3.34trn. Consequently, the market’s Year-to-Date (YtD) return climbed to 31.16% (vs.30.54% YtD last Friday). This positive sentiment was driven by gains in […]
Daily Market Update|10-10-2024

Daily Market Update (Equities) The Nigerian stock market continued its downward trend, declining for the third (3rd) consecutive trading day, albeit at a slower pace by 0.01%. Market capitalization decreased by NGN5.72bn, bringing the year-to-date return to 30.36%, down from 30.38% YtD yesterday. The bearish sentiment was driven by UBA, FIDELITYBK, NB, and STERLING, which […]
Daily Market Update|09-10-2024

Daily Market Update (Equities) The Nigerian stock market continued its downward trend today, losing another 0.10%. This marks the second consecutive trading day of losses, bringing the market’s year-to-date (YtD) return down to 30.38% (from 30.51% YtD yesterday). Market capitalization took a hit, shrinking by NGN56.12bn. This negative sentiment was on the back of losses […]
Daily Market Update|08-10-2024

Daily Market Update (Equities) Today, the Nigerian stock market closed on a positive note as it gained 0.19% while its year-to-date return settled at 30.67%. The Market performance was driven by gains in FIDELITYBK, UBA, and DANGSUGAR, offsetting losses in ACCESSCORP, WAPCO, and TRANSCORP. On a sectoral basis, the Banking (+0.81%), Consumer Goods (+0.40%), and […]
Weekly Commentary and Stock Recommendation: 30th September – 4th October 2024

Last week, the market lost NGN596.61bn due to selloffs in DANGCEM, BUACEMENT and FBNH, which caused the market to lose 0.95% Week-on-Week (WoW). However, we saw gains in sectors such as Oil and Gas, Insurance and Consumer Goods sectors, as investors bought into tickers such as SEPLAT, NEM and INTBREW respectively.
Daily Market Update|01-10-2024

Today, the Nigerian stock market closed on a positive note as it gained 0.10% while its year-to-date return settled at 31.81%. The market performance was driven by gains in OANDO, UBA and ACCESSCORP, which offset losses in BUACEMENT, FBNH and FIDELITYBANK.
Weekly Commentary and Stock Recommendation: 9th September – 13th September 2024

Earlier this week, according to the Chinese National Bureau of Statistics, China’s Consumer Price Index (CPI) rose by 0.6% YoY in August 2024 after reporting a 0.5% YoY growth in July 2024.
Daily Market Update|11-09-2024

Daily Market Update (Equities) Today, the Nigerian equities made a negative momentum with the NGX All-Share Index (ASI) declining by 0.09% to settle at 96,715.04 points. Consequently, the market’s year-to-date (YtD) returns increased to 29.34% compared to 29.46% Yesterday. Today, the total volume increased by 47.72% to 600.04mn units, while the total value traded decreased […]
Weekly Commentary and Stock Recommendation: 2nd September – 6th September 2024

Global Economy Earlier this week, according to a private sector survey, the Caixin/S&P Global manufacturing Purchasing Manager Index (PMI) rose to 50.4 points in August 2024 from 49.8 points the previous month, more positive than the recent official PMI survey showing manufacturing activity extended declines in August 2024. According to the survey, which mostly covers […]
Daily Market Update|03-09-2024

Daily Market Update (Equities) Today, the Nigerian equities market closed positive with the NGX All-Share Index (ASI) surging by 0.08% to settle at 96,873.74points. Consequently, the market’s year-to-date (YtD) returns increased to 29.56% compared to 28.45% Yesterday. Today, the total volume and value traded decreased by 5.04% to 473.00mn units and 5.67% to 10.42bn. OANDO […]