Stocks rally N151bn gain to retain uptrend

Local bourse reclaims N20trn stand after N330bn gain

Stocks rally N151bn gain to retain uptrend     Collective performance of the Nigerian stock market remained positive on Wednesday as Tuesday’s bullish outlook spilled over with the All-Share Index (ASI) appreciating by 0.7 per cent to 39,170.95 basis points. This amounted to N151 billion profit for investors who went all the way to the bank as the session was bouyed by strong buying interest in the shares of Dangote Cement (+2.2 per cent), Okomu Oil (+9.8 per cent), and GTBank (+1.8 per cent). Consequently, the market’s year to date…

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Investors recoup N88bn amid depressed stock turnover

Local bourse reclaims N20trn stand after N330bn gain

Investors recoup N88bn amid depressed stock turnover     The Nigerian stock market extended its positive outlook on Tuesday despite the low activity level across trade volume and value lines recorded during the session. At the close of the day, equity investors recouped fresh N88 billion over their investments, equivalent to 0.43 per cent rise in the value of aggregate market valuation. Specifically, the All-Share Index (ASI) that tracks share prices in the market gained 167.56 points to close at 39,015.58 basis points while market CAP followed suit to close…

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Stock investors lose N7bn as market return southwards

NGX all-share index closes week bearish by 0.57%

Stock investors lose N7bn as market returns southwards   Sentiments again went negative as trading on the floor of the Nigerian Stock Exchange (NSE) closed southwards on Tuesday with N9 billion loss. Following the day’s loss, the All-Share Index (ASI) tracking share price movement at the bourse shed 17.9 points, equivalent to 0.04 per cent depreciation to close at 38,704.97 index points. Similarly, the equities market capitalization ended in the red by losing the same percentage points to close at N20.251 trillion from N20.260 trillion. The ASI was dragged by…

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Bargain hunters rescue equities from bears as index rises 0.6%

Stock bull

Bargain hunters rescue equities from bears as index rises 0.6%   The local bourse retraced midweek’s loss, as bargain buying in DANGCEM (+3.6%) and NESTLE (+1.9%) spurred approximately a 0.6% gain in the benchmark index to 38,931.25 basis points.    Consequently, the Month-to-Date (MtD) and Year-to-Date (YtD) losses moderated to -2.2% and -3.3%, respectively. The total volume traded declined by 24.9% to 368.22 million units, valued at N4.91 billion, and exchanged in 4,437 deals. Trading record shows that UBA was the most traded stock by volume as it’s investors traded…

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Post-MPC Meeting: Investors shed caution mode, as NGSE index climbs higher

Nigerian equities extends gain on Tuesday to cross N20trn market value

By Investdata Analysts Equity prices closed higher on the Nigerian Stock Exchange (NSE) at midweek as buying pressure increased as if to confirm that investors were waiting to see whether the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) would pull a surprise at its first meeting of the year which ended on Tuesday. The exchange thereby extended the bull transition for a third successive session on a high traded volume and positive sentiment for Telecoms, Insurance, Banking, Industrial and consumer goods stocks, which pushed the composite…

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Profit-taking in bellwethers costs stocks N393bn, 2021’s first loss

Bears attempt comeback as stocks lose N27bn

Profit-taking in bellwethers costs stocks N393bn, 2021’s first loss   Equity investors in Nigeria experienced their first loss of the year on Tuesday as the stock market reversed previous gains, shedding N393 billion. The downturn was driven by profit-taking on bellwethers, particularly BUA Cement, MTN Nigeria and Zenith Bank Plc, losing -5.9 per cent, -2.8 per cent and -4.3 per cent respectively. Precisely, the benchmark index declined by 751.25 points or 1.83 per cent to 40,396.14 points while aggregate valuation equities in the local bourse closed lower at N21.122 trillion.…

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ANALYSIS: 2021 Outlook Mixed; Investors Cautious On Covid-19 New Wave, Await Full-Year, Q1 Earnings

2021 Outlook Mixed; Investors Cautious On Covid-19 New Wave, Await Full-Year, Q1 Earnings 2020 Stock Market Recap and Outlook For 2021 By Investdata Analysts The benchmark All-Share index of the Nigerian Stock Exchange closed the year 2020 yielding better returns than the 47.19% and 42.3% it did in 2013 and 2017 respectively, at 50.03% on the back of positive sentiments and high system liquidity, despite the prevailing weak economic fundamentals arising from the Coronavirus outbreak that had affected global and domestic spaces. The strong equity market recovery after touching an…

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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…

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Nigerian equities mark seventh bullish week in a row

Despite sustaining weekly positive sentiments, the bullish momentum in the local bourse lost steam as investors took a breather to digest corporate earnings released thus far. In terms of activity levels, volume grew by 8.2 per cent w/w while value declined 4.1 per cent w/w. Supported by gains on the second (+0.8  per cent) and last trading (+0.9 per cent) days, the All-Share Index crawled above the 31,000 points psychological mark, closing at 31,016.17 basis points last week. Notably, investors’ interest in DANGCEM (+9.1 per cent), DANGSUGAR (+19.6 per cent),…

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Stock record N5bn marginal gain to close midweek

Stock bull

Nigerian equities on Wednesday rose marginally by 0.03 per cent amid sustained bargain hunting activity. The All-Share Index (ASI) increased by 8.41 absolute points, representing a growth of 0.03 per cent to close at 30,741.88 points. Similarly, investors gained N5 billion as market capitalisation advanced to N16.068 trillion at the end of the session. The uptrend was impacted by gains recorded in large and medium capitalised stocks, amongst which are; Chemical and Allied Products (CAP), FCMB Group, Guaranty Trust Bank, Dangote Sugar Refinery and Caverton Offshore Support Group The total…

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