Stocks - Business Metrics

Local bourse on Zig-zag posture as investors lose N120bn

Mar 3, 2021 Ugochi Emmanuel

Local bourse on Zig-zag posture as investors lose N120bn The Nigerian stock market, which began the month on a positive note, resumed decline on Tuesday following sell-offs and profit-taking charges in 26 stock, resulting in share price losses at the end of trading. The Nigerian Stock Exchange All-Share Index (NSEASI) had opened the month of March positive with 0.33 per cent uptick on Monday, a deviation from a total loss of N1.37 trillion recorded in February. But the benchmark index, ASI, fell by 0.59 per cent on Tuesday to…

Stocks shed N66bn, market cap drops below N21tn

Feb 26, 2021Feb 26, 2021 Omobayo Azeez

Stocks shed N66bn, market cap drops below N21tn The local bourse slid into the red zone following selloffs in large and Mid-Cap stocks on Thursday, dragging down aggregate market capitalization of equities assets at the bourse below N21 trillion mark. Notably, The Nigerian Stock Exchange All-Share Index fell by 0.31 per cent to close at 40,095.49 basis points from 40,221.30 basis points on Wednesday while market capitalization lost N66 billion to settle at N65.83 trillion. Consequently, the year-to-date performance dipped to -0.44 per cent A total of 326.04…

Dead cat bounce as equities gain N6bn to halt downtrend

Feb 23, 2021 Omobayo Azeez

Dead cat bounce as equities gain N6bn to halt downtrend There was a brief respite in the stock market on Tuesday as trading in the local bourse ended the day mixed but with bullish bias, equivalent to N6 billion for investors. The All-Share Index (ASI) notched 10.77 points or a per cent gain to close at 40,164.86 basis points while market Cap recorded same uptick to end the session at N21.015 trillion. Precisely, the positive earnings release from ZENITHBANK (+4.8 per cent) improved investors’ sentiments and supported market performance, despite…

Large cap stocks buoy NSE rebound amidst negative breadth

Feb 12, 2021 Omobayo Azeez

Large cap stocks buoy NSE rebound amidst negative breadth The benchmark All-Share Index of the Nigerian Stock Exchange (NSE) resisted further decline on Thursday, thereby halting eight successive sessions of losses on a very high traded volume and buying position of 100%. The day’s rebound followed gains by two high cap stocks- Dangote Cement and MTN Nigeria, as the market turned around and closed higher, even as the high transaction volume, just after previous day’s low suggests that the ongoing price correction may be temporary. The market, which had…

Mixed sessions on NSE, as investors await earnings amidst high dividend yields

Feb 4, 2021 Ambrose Omordion

Mixed sessions on NSE, as investors await earnings amidst high dividend yields Trading on the Nigerian Stock Exchange at the midweek remained volatility and mixed, with a slowdown in profit booking momentum on as players continue repositioning in dividend paying and high yield stocks, The All-Share index extended its losing position for the third consecution day, just as the changing trading pattern and the market holding structure has supported the market so far, despite profit taking during the session as all eyes are on the expected earnings season. We…

Investors count losses as stocks remain in red for 3rd day

Feb 4, 2021 Omobayo Azeez

Investors count losses as stocks remain in red for 3rd day Lose N216bn to profit-taking Since the bears resurfaced at the Nigerian Stock Exchange (NSE) on Monday, investors have been recording losses at the close of each day up till midweek trading session on Wednesday. Bears’ grip on the market has resulted into N216 billion losses in market capitalization while the benchmark indicator tracking share prices at the bourse, the All-share Index (ASI) has depreciated by 412.65 points or 0.97 per cent within the three days. Specifically, from…

NGSE index soars on MPC meeting outcome, bargain hunting, positioning

Jan 27, 2021Jan 27, 2021 Banjo Olaniran

Nigerian bourse extends gaining streak by N18bn

NGSE index soars on MPC meeting outcome, bargain hunting, positioning By Investdata Analysts Trading activities on the Nigerian Stock Exchange on Tuesday was very volatile still, but bullish, closing higher on increased buying interests, heightening the gaining momentum, even on a low traded volume and amidst a positive breadth. The bull-run was thereby extended for the second consecutive session as members of the Central Bank of Nigeria’s Monetary Policy Committee voted unanimously to retain the monetary policy stance at the end of their two-day meeting. Specifically, the members voted,…

Positive outlook on NGSE, but expect profit booking after 9 sessions of gains

Jan 18, 2021 Ambrose Omordion

Market Update for the Week Ended January 15 and Outlook for January 18-22 By Investdata Analysts The Nigerian Stock Exchange (NSE) sustained a positive momentum and bullish performance in the second trading week of 2021, which ended on Friday, reversing previous week’s profit booking on the back of a change in trading pattern. This was as bargain hunting continued ahead of the earnings reporting season. The National Bureau of Statistics (NBS), on Friday published data for December inflation rate, which spiked for the 16th consecutive month, closing at 15.78%, from…

Investors trade N32.7bn worth shares to net N552bn weekly gain

Jan 17, 2021Jan 17, 2021 Omobayo Azeez

Investors trade N32.7bn worth shares to net N552bn weekly gain Investors in the Nigerian capital market have raked in N552 billion in profit at the end of the second trading week of the year ended Friday 15 January, 2021 which closed in the green territory. The gain recorded after the weekly five trading sessions was driven by improved transactions at the bourse as traded volume and value of trade went up by 1.56 per cent and 64.72 per cent respectively. Thus, the All-share index (ASI) that tracks movement of…

Cautious Optimism Still On NGSE, As Investors Position In High Yield, Dividend Stocks

Jan 13, 2021 Ambrose Omordion

Market Update for January 12 By Investdata Analysts Nigeria’s stock market on Tuesday extended its bullish transition for the second consecutive session on positive sentiments for blue-chip stocks and undervalued companies that investors perceive as those that will rally this year as the nation economy recovers, and inflation expectedly declines on increased national industrial output. Despite the changing market holding structure, as domestic institutional investors play deeper, the Money Flow Index and other technical indicators signal a bearish divergence from the composite index’s action. This is notwithstanding the fact that…