Daily Market Update | 09-11-2023
Daily Market Update (Equities) The Nigerian Equities market close the today on a positive note as its benchmark index rose by 0.10% to settled at 70,819.58 points. Consequently, the year-to-date returns printed at 38.18% YtD (vs. Yesterday: 38.04% YtD). The gains in FBNH, Fidelity and GTB offset losses incurred in Zenith, NASCON and DANGOTE SUGAR. […]
Daily Market Update | 08-11-2023
Daily Market Update (Equities) The Nigerian Equities market close the today on a positive note as its benchmark index rose by 0.19% to settled at 70,748.97 points. Consequently, the year-to-date returns printed at 38.04% YtD (vs. Yesterday: 37.78% YtD). The gains in BUA Cement, UBA and LAFARGE offset losses incurred in Fidelity, PZ Cussons and […]
Daily Market Update | 07-11-2023
Daily Market Update (Equities) The Nigerian Equities market closed today on a positive note as the benchmark index increase by 0.19% to 70,613.60 points. As a result, its year-to-date (YtD) returns rose to 37.78% (vs. Yesterday YtD: 37.52%). The Total Volume and Value traded for today are 449.28mn units and NGN5.44bn respectively. FBNH traded the […]
Daily Market Update | 06-11-2023
Daily Market Update (Equities) The Nigerian Equities market started the week on a positive note as the benchmark index rose by 0.40% to 70,479.62 points. As a result, its year-to-date (YtD) returns rose to 37.52% (vs. Friday’s YtD: 36.97%). The gains recorded in BUA Cement, SEPLAT and Fidelity offset the losses incurred in SANBIC IBTC, […]
Weekly Commentary and Stock Recommendation: 30th October – 3rd November 2023
Global Economy Earlier this week, the US Federal Reserve (Fed) kept interest rates constant at 5.25%-5.50%. The Fed has struggled to determine whether rates may be tight enough to control inflation, or whether a resilient US economy may need still more restraint. Current inflation remains far above the Fed target rate of 2%, and annual […]
Daily Market Update | 30-10-2023
Daily Market Update (Equities) The Nigerian Equities market started the week on a positive note as the benchmark index rose by 1.45% to 68,111.71 points. As a result, its year-to-date (YtD) returns rose to 32.90% (vs. Friday’s YtD: 31.00%). The gains recorded in NNFM, CHAMS and UAC NG offset the losses incurred in Meyer, Abbey […]
Weekly Commentary and Stock Recommendation: 23rd October – 27th October 2023
Global Economy According to the US Bureau of Economic Analysis (BEA), US Real Gross Domestic Product (GDP) increased at an annual rate of 4.9% in Q3:2023 (vs. 2.1% in Q2:2023), according to its “advance” estimate. Compared to the second quarter, the acceleration in real GDP in Q3:2023 reflected increases in consumer spending, private inventory investment, […]
Daily Market Update 24-10-2023
Today, the Nigerian equities market closed on a positive note as the bench mark index increased 0.51% to close at 67,217.77 points. Consequently, its Year-to-Date return printed at 31.15% (Yesterday: 30.49%). The strong performance was primarily driven by buying interest in Flour Mills, Chams, and Geregu offsetting the losses in ABC Tran, FTN Cocoa, and […]
Weekly Commentary and Stock Recommendation: 16th October – 20th October 2023
Global Economy Earlier this week, the Office of National Statistics (ONS) released the UK September 2023 Consumer Price Index (CPI) report. According to the report, the CPI rose by 6.7% Year-on-Year (YoY) in September 2023, unchanged from August 2023. Month-on-Month (MoM), CPI rose by 0.5% in September 2023, also unchanged from September 2022. The largest […]
Daily Market Update | 19-10-2023
Daily Market Update (Equities) Today, the Nigerian Equities market performance declined as its benchmark index fell by 0.38% to 67,098.80 points. Notably, its year-to-date (YtD) returns rose to 30.92% (vs. Yesterday’s YtD: 31.42%). The losses recorded in STANBIC IBTC, ACCESSCORP and MTNN offset the gains incurred in GTCO, FIDSON and SUNU ASSURANCE. The Total Volume […]
