Stock - Business Metrics

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

Jan 28, 2021 Banjo Olaniran

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…

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

Jan 6, 2021Jan 6, 2021 Omobayo Azeez

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.…

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

Jan 3, 2021Jan 4, 2021 Ambrose Omordion

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…

MPC decision reignites interests in stocks as investors gain N113bn

Nov 25, 2020Nov 25, 2020 Omobayo Azeez

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…

Nigerian equities mark seventh bullish week in a row

Nov 9, 2020Nov 11, 2020 Omobayo Azeez

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),…

Stock record N5bn marginal gain to close midweek

Nov 5, 2020 Omobayo Azeez

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…

Portfolio Adjustments Likely, As Investors Target Strong Potentials For Q3 Earnings Growth

Sep 23, 2020 Banjo Olaniran

By Investdata Analysts Trading on the Nigerian Stock Exchange (NSE), on Tuesday, gathered more gaining momentum, extending its bull transition for the third consecutive session on a high traded volume and strong buying sentiment that pushed the benchmark All-Share index higher, despite the negative market breadth. The stock seeming recovery or rally by the market is likely to continue after side trending for some weeks, breaking out the recent strong resistance level of 25,618.65 basis points on positive buying interests. This may continue, given the further rates crash due at…

Mixed Sessions Ahead, As Investors Reprice Equities To Reflect Realities

Sep 22, 2020Sep 22, 2020 Banjo Olaniran

Market Update for September 21 By Investdata Analysts The nation’s stock market, on Monday, maintained a mixed and ranging outlook remaining dicey as its technicals and fundamentals seem totally disconnected, extending into the second successive sessions of marginal gains on a low traded volume. The market is in need of positive information or policy statement to trigger buying interests ahead of the Q3 earnings reporting season, at a time of so much negative macroeconomic indices wobbling the nation’s economic fundamentals. The continued mixed sentiments and volatility will likely be sustained…

Correction Ahead On NGSE, As Investors Position For Interim Divs, Economic Data

Sep 15, 2020 Banjo Olaniran

Monday’s trading on the Nigerian Stock Exchange (NSE) closed slightly higher on increased buying wave in manufacturing and banking stocks that pushed the composite All-Share index up, sustaining its positive outlook for three consecutive sessions of gains. The NSEASI has again formed another double top on a daily chart at a strong resistance level of 25,605.59 basis points on a relatively high traded volume and mixed sentiment, trading above the seven, 20 and 50-Day Moving Average. Technically, at the end of Monday’s trading there was a reversal sign in trend…

Interim Div Expectations Keep NGSE Index Above 20-DMA On Daily Timeframe

Aug 21, 2020 Business Metrics

Market Update for August 20 By Investdata Analysts The nation’s equity market extended its bull transition on a mixed and volatile session at the end of Thursday’s trading with sustained buying interests in manufacturing and banking stocks thereby pushing the benchmark All-Share index higher. Traded volume was low, despite the positive sentiments in the midst of prevailing sociopolitical and economic uncertainties, especially the rising insecurity, mismatch in economic policies and reforms that continues to threaten recovery and confidence in the system. These, in turn, continue to shut out foreign and…