RECAP & OUTLOOK: Nigerian stock market adds N1.043trn gain in 51st week

Equity market

RECAP & OUTLOOK: Nigerian stock market adds N1.043trn gain in 51st week As market cap surpassed N20trn Weekly trade value swells by 128% Analysts forecast sustained uptrend, price correction, expatriates’ return   As the year 2020 winds down with less than a week to close the year, the Nigerian stock market has further posted positive record to close the penultimate week of the year with N1.043 trillion profit. Last week which is the 51st week of the year, investors flocked into the shares of Dangote Cement following the announcement of…

Read more

Investors lose N7bn to lingering profit-taking

MPC

Negative sentiments further dominated market performance at the Nigerian Stock Exchange (NSE) as profit-taking pressure  by investors continued, a trend that brought the market to its fifth negative performance in a row. At the close of the midweek session, equities investors recorded N7 billion loss. However, market analysts anticipate that a near-term bullish bias may dominate the trading activities as price declines across fundamentally sound counters present opportunities for them to take a position, albeit the spates of selling pressure, Consequently, benchmark index, the NSE All-Share Index (ASI) fell marginally by…

Read more

The Week Ahead: Time to diversify stock portfolios

Jaiz Bank targets N6.15bn

Market Update for the Week Ended December 4 and Outlook for Dec 7-11 By Investdata Analysts Amidst Mixed Short-term Outlook On NSE The first trading week of December ended last Friday, maintaining a bullish stance despite the seeming profit taking and price correction in the midst of mixed sentiment, with the composite All-Share index closing higher. This was due to continued buying interest in telecoms and highly priced stocks that helped the market to sustain its positive trend on a less than average traded volume and negative breadth. The impending…

Read more

Equities market: Investors gain 30.55% on investment in 11 months

MPC

Investors on the equities market of the Nigerian Stock Exchange (NSE) gained 30.55 per cent of their investment in 11 months, our correspondent can report. The equities market benchmark, the NSE All-Share Index (NSE ASI) closed on Monday trading at 35,042.14 basis points from 26,842.07 basis points it opened for trading in 2020 amid global and domestic economy challenges. The ASI had rose by 65 per cent between April and November 2020, reflecting improved sentiments and investors on the fundamentals of publicly listed companies. Similarly, the market capitalisation of the…

Read more

MPC decision reignites interests in stocks as investors gain N113bn

equities index rebounds by 0.17

The bulls resurfaced in the domestic bourse on Tuesday following announcement at the end of the Central Bank Nigeria’s Monetary Policy Committee’s meeting that monetary parameters would be held constant to hasten economic recovery. Market analysts observed that the development contributed to the rebound recorded in the stock market as the All-Share Index (ASI) gained 218.78 points or by 0.64 per cent to close at 34,340.56 basis points. Similarly, the aggregate value of equities in the market surged with the same percentage points, translating to N113 billion for equities investors…

Read more

How bears’ comeback on Nigerian equities cost investors N470bn

Nigerian Equities

After eight weeks of hiatus from the local bourse, the bears staged a comeback dominating the market on three of the five trading days of last week. Activity level was mixed, as volume grew strongly by 153.8 per cent week-on-week (WoW) while value declined 38.7 per cent (WoW). Market valuation receded by 2.57 per cent as the All-Share Index (ASI) settled below the 35,000 psychological mark breached in the prior week, closing at 34,136.82 points after shedding 900.64 points. Similarly, the aggregate value of equities investment at the domestics bourse…

Read more

NSE nearing its end as demutualization gathers impetus

NSE nets N1NSE nearing its end as demutualization gathers impetus.2trn turnover in 8 months

The process of demutualization of the Nigerian Stock Exchange (NSE) which started many years ago is moving to a logical conclusion following massive support it gained at the 59th Annual General Meeting (AGM) of the Lagos bourse. Members of the Exchange have voted overwhelmingly today at the AGM, which is expected to be its last as a mutual entity,  to support the listing of the Nigerian Exchange Group Plc (NGXG) on the Nigerian Exchange Limited (NGX) once the demutualization of the NSE is completed. Under the resolution passed by the AGM,…

Read more

PHOTO NEWS: Nigerian Stock Exchange’s 59th AGM

Photo 1: L-R shows: Ms. Mojisola Adeola, Council Secretary, The Nigerian Stock Exchange (NSE); Mr. Oscar N. Onyema, OON, Chief Executive Officer, NSE; Otunba Abimbola Ogunbanjo, President, National Council, NSE; Ms. Catherine Echeozo, 2nd Vice President, National Council, NSE and Mr. Oluwole Adeosun, Member, National Council, NSE, at the 59th Annual General Meeting of Members of The Nigerian Stock Exchange on Wednesday, 18 November 2020.   Photo 2: L-R shows: Mr. Oscar N. Onyema, OON, Chief Executive Officer, The Nigerian Stock Exchange (NSE); Otunba Abimbola Ogunbanjo, President, National Council, NSE;…

Read more

Market correction may linger, offering new entry opportunities ahead of year-end

MPC

Market Update for November 16 By Investdata Analysts Monday’s equity prices on the Nigerian Stock Exchange (NSE) closed lower, for the second consecutive trading session amidst the continued profit booking across sectors after eight straight weeks of market rally, resulting in losses. The good thing is that the pullbacks or price corrections are creating another new buy-in opportunities that will rally when market turn up, despite the fact that factors responsible for the recovery and the bull transition have remained strong over the year. We expect the NSE index to…

Read more

Nigerian equities sustain weekly rally by 12.97%

Equity market

The bulls in the local bourse last week took the market to unprecedented rout as the NSE All-Share Index and Market Capitalisation both appreciated by 12.97 per cent to close the week at 35,037.46 and N18.308 trillion respectively. Similarly, all other indices finished higher while the NSE ASeM Index closed flat. It was a historic trading week as the NSE All Share Index (ASI) posted its largest daily gain in more than five years on Thursday, November 12, 2020. The ASI rose beyond the set threshold of five per cent…

Read more