Weekly Commentary and Stock Recommendation: 18th March – 22nd March 2024
Global Economy Earlier this week, data from the office of National statistics showed the UK Consumer Prices Index (CPI) rose by 3.4% YoY in February 2024, down from 4.0% YoY in January 2024. On a MoM basis, CPI rose by 0.6% in February 2024, compared with a rise of 1.1% MoM in February 2023. Core […]
Daily Market Update | 21-03-2024
Daily Market Update (Equities) The Nigerian equities market snapped from a three-day losing streak, with the NGX All Share Index (ASI) rising by 0.13% to close at 104,387.47 points. As a result, the market’s year-to-date (YtD) return went up to 39.60%, compared to yesterday’s 39.43%. Gains recorded in heavyweight stocks like BUACEM, TRANSCORP, and ZENITH […]
Daily Market Update | 20-03-2024
Daily Market Update (Equities) The Nigerian equities market extended its losing streak for a third consecutive day. The NGX All Share Index (ASI) dipped by 0.28% to close at 104,256.81 points. This decline pushed the year-to-date (YtD) return down to 39.43%, compared to yesterday’s 39.83%. Selling pressure dominated the market, with losses recorded in heavyweight […]
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, […]
Daily Market Update | 18-03-2024
Daily Market Update (Equities) The Nigerian equities market opened the week on a negative note, as the NGX All Share Index (ASI) declined by 0.40% to 104,663.34 points. As a result, the market’s year-to-date (YtD) returns fell to 39.97% compared to 33.19% YtD recorded on Friday. Losses in MTNN, GTCO and DANGSUGAR offset the gains […]
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 | 7-03-2024
Daily Market Update (Equities) Today, the Nigerian equities market closed positive, as the NGX All Share Index (ASI) increased by 0.75% to 100.335.30 points. Consequently, the market’s year-to-date (YtD) returns printed at 34.19% (vs. Yesterday: 33.19% YtD). Gains in FBNH, Transnational Corp and Fidelity Bank offset the losses in Dangote Sugar, Zenith Bank and Ecobank. […]
Daily Market Update | 6-03-2024
Daily Market Update (Equities) Today, the Nigerian equities market closed positive, as the NGX All Share Index (ASI) increased by 0.40% to 99,192.82 points. Consequently, the market’s year-to-date (YtD) returns printed at 33.19% (vs. Yesterday: 32.66% YtD). Gains in FBNH, Transnational Corp and Fidelity Bank offset the losses in Dangote Sugar, Zenith Bank and Ecobank. […]
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 […]
