Daily Market Update | 31-07-2023
Daily Market Update (Equities) The Nigerian Equities market continued its negative run this week as its benchmark index fell by 1.10% to 64,337.52 points. Consequently, its Year-to-Date return printed at 25.53% (Last Friday: 26.94%). The market movers for today include Conoil, FCMB, Custodian, Skyway and AXA. Today, ABBEYBDS traded the highest in terms of Volume […]
Daily Market Update | 27-07-2023
Daily Market Update (Equities) The Nigerian Equities market closed negative for the second consecutive time this week, as its benchmark index declined by 0.31% to settle at 65,482.91 points. As a result, its Year-to-Date return dropped to 27.77% from 28.17% yesterday. The market movers for today include Ecobank, Access, TotalEnergies, Skyway and Jaiz. Today, JAPAULGOLD […]
Daily Market Update | 26-07-2023
Daily Market Update (Equities) The Nigerian Equities market closed negative for the first time this week, as its benchmark index declined by -0.46% to settle at 65,687.16 points. As a result, its Year-to-Date return dropped to 28.17% from 28.76% yesterday. The market movers for today include SEPLAT, Stanbic, Zenith, NASCON and Fidelity. Today, UBA recorded […]
Daily Market Update | 25-07-2023
Daily Market Update (Equities) The Nigerian Equities market sustained its upward trajectory, as its benchmark index went up by 0.69% to settle at 65,988.81 points. As a result, its Year-to-Date return went up to 28.76%. The market movers for today include MTN, SEPLAT and GEREGU. Today, JAPAULGOLD recorded the highest amount of trade in terms […]
Daily Market Update | 24-07-2023
Daily Market Update (Equities) The Nigerian Equities market begun the week on a positive note, as its benchmark index went up by 0.41% to settle at 65,268.28 points. As a result, its Year-to-Date return went up to 27.35% (Last Friday’s close: 26.83%). The market movers for today include Stanbic IBTC Holdings PLC, FBN Holdings PLC, […]
Daily Market Update | 20-07-2023
Daily Market Update (Equities) The Nigerian Equities market rebounded from its loss yesterday, as its benchmark index gained 0.27% to close at 63,930.72 points. Consequently, its Year-to-Date returns increased to 24.74% from yesterday’s 24.40%. Geregu Power PLC and United Bank for Africa PLC recovered from their loss yesterday and emerged as the major market movers […]
Weekly Commentary and Stock Recommendation: 10th July – 14th 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 U.S. Bureau of Labor Statistics published the Consumer Price Index (CPI) data for June 2023. In June, the […]
Post-Election: Where are Fixed Income yields headed?
Following the successful re-election of President Muhammadu Buhari into office this week, it appears that the macroeconomic landscape for the rest of the year seems unchanged from 2018 with the obvious deviation being the prospect for a lower crude oil price this year, in our view. To buttress, our forecast for average crude oil prices […]
Fixed Income Report: Is STAB the new normal?
CBN moves the needle. Last week Thursday, for the first time this year, CBN conducted a special OMO auction where it sold Stabilization securities (STAB) worth N287.7 billion. This came after subscription levels (N403 billion) at Thursday’s auction were 42% and 41% shy of planned offer (N700 billion) and OMO maturity on the same day […]
