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Capital Market Archives - Inside Business Africa
Tuesday, January 26African Business News
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Capital Market

Investors’ appetite for high dividend stocks pushes index by 2.63%

Investors’ appetite for high dividend stocks pushes index by 2.63%

Capital Market
The nation’s stock market closed transactions for the second trading week of the year on a high note, as the market continued to record an early boom, following investors’ increased appetite for stocks with attractive yields ahead of the full Year 2020 dividend declarations. Last week, the Nigerian Stock Exchange (NSE) recorded gains in all the trading sessions of the week with the All-share index and market capitalisation appreciating by 2.63% to close the week at 41,176.14 and N21.530 trillion, respectively. Similarly, all other indices finished higher with the exception of NSE Growth which depreciated by 3.32% while the NSE ASeM Index closed flat. Analysts at the weekend expressed optimism on a sustained bull run, as investors target blue-chip and undervalued ...
Hope for single African market in 2021 as borders open for AfCFTA

Hope for single African market in 2021 as borders open for AfCFTA

Capital Market
As expectations are high about the reopening of more land borders to regional trade this week, the country would address hiccups in its trade policies to optimize the benefits of the African Continental Free Trade Area (AfCFTA) scheduled to take off January 1, 2021.   The Federal Government recently reopened four borders – Seme border in the South West, Illela and Maigatari border in the North West and Mfun in the South South with optimism that others would be reopened on December 31. This action would enable Africa’s largest economy to participate fully in the long-awaited Africa’s single market. The border closure, which lasted for 16 months, posed different challenges to cross-border traders, corporate entities and private engagements around the regional line. On No...
Stock market ends November bullish as index

Stock market ends November bullish as index

Capital Market
Exchange migrates four companies to growth board Following gains recorded by most blue-chip stocks, the equity market ended trading for the month of November, bullish, as the All-Share Index (ASI) appreciated by N82 billion. The ASI gained 156.63 absolute points, or 0.45 per cent to close at 35,042.14 points. Similarly, the market capitalisation also appreciated by N82 billion to close at N18.310 trillion. Yesterday’s uptrend was driven by price appreciation in medium and large capital stocks, including Airtel Africa, MTN Nigeria Communications (MTNN), Aiico Insurance, and FCMB Group. Analysts at United Capital Plc predicted mixed performance with a bearish bias in the equity market, as investors book profits and hunt for bargains. However, sentiment, as measured by market bre...
COVID-19 crisis shrinks Q3 scorecards of firms in household sector

COVID-19 crisis shrinks Q3 scorecards of firms in household sector

Capital Market, Economy
The devastating effect of the COVID-19 on income, savings and consumption, have impacted the nine months performance of companies under the household/personal industry. Indeed the sector, like its peers is faced with various challenges ranging from tight consumer spending poor infrastructure, rising inflation, trade and FX restrictions, porous land borders. The above factors have been listed as the major ills militating against the growth of the industry, just as the sector has witnessed a sustained sliding profile in the last few years, exacerbated by the ongoing coronavirus pandemic. The COVID-19 crisis has disrupted operations in different sectors of the economy with their trade segments, leading to a fall in demand, sales volume, revenue and underlying profits of these players...
‘NSE remains viable option for SMEs, others’ to raise capital, says Onyema

‘NSE remains viable option for SMEs, others’ to raise capital, says Onyema

Capital Market
The traditional role of the Nigerian Stock Exchange (NSE) as an enabler of capital flow from areas of surplus to deficit holds good promise for businesses as access to capital is the prime challenge faced by companies active in various sectors of the economy. This was disclosed at a webinar hosted by the Exchange in collaboration with the Odu’a Chambers of Commerce and Industry, in Lagos. The event, themed: “Capital Raising in a Pandemic,” was held in furtherance of the Exchange’s commitment to educating business promoters on the alternative funding opportunities available in the capital market to catalyse business growth. This comes on the back of the significant reduction in major sources of revenue for key sectors of the economy occasioned by the COVID-19 pandemic and other...
Book on Economics, Banking and Finance in Emerging Markets debuts

Book on Economics, Banking and Finance in Emerging Markets debuts

Capital Market
Emerging markets and economies are more nuanced and complex than available scholarly resources fully articulate. Without adequate local knowledge of the complexities in developing economies, the attempt to transpose economic theories and business practices which have been successful in richer countries have turned out to be most times disastrous. This was Dr Ola Brown’s realisation and experience after over 10 years’ of doing business as a leading private sector healthcare investor in West Africa, and seven years of discussing economics and banking. In pursuit of further education in Finance and Economic Policy, Dr Ola Brown has chosen to focus her attention on contextualizing theories created for more affluent markets. “The purpose of this book is directed towards the dire need to f...
NSE capitalisation hits N17tr mark, as investors sustain appetite in dividend paying stocks

NSE capitalisation hits N17tr mark, as investors sustain appetite in dividend paying stocks

Capital Market
The market capitalisation of the Nigerian Stock Exchange (NSE) hit the N17 trillion mark yesterday, even as sustained bargain-hunting for dividend-paying stocks continue to stimulate activities in the nation’s bourse. At the close of trading Tuesday, the All-Share Index (ASI) gained 404.05 absolute points, representing an increase of 1.25 per cent to close at 32,647.10 points while market capitalisation gained N211 billion, to close at N17.059 trillion. The upturn was impacted by gains recorded in large and medium value stocks, including MTN Nigeria Communications (MTNN), Stanbic IBTC Holdings, NASCON Allied Industries, Dangote Sugar Refinery, and Ardova Plc. On market performance, InvestData Consulting Limited said: “The nation’s equity market indices, closed higher in the afterm...
Sell-pressure drags index further by 0.27%

Sell-pressure drags index further by 0.27%

Capital Market
Transactions on the Nigeria Stock Exchange reopened on a negative note yesterday, occasioned by sell pressure in most blue-chip companies, causing the All-Share Index (ASI), to slip by 0.27 per cent. Yesterday, the ASI decreased by 77.82 absolute points, a 0.27 per cent fall to close at 28,337.49 points. Similarly, the overall market capitalisation lost N40 billion to close at N14.812 trillion. The downtrend was impacted by losses recorded in large and medium value stocks, including Flour Mills of Nigeria, BUA Cement, MTNN, International Breweries, and Africa Prudential. Analysts at United Capital Plc predicted that “the momentum would be sustained considering the huge liquidity in the system coupled with fewer investment alternatives. However, we do not overrule the place of pr...
Negative fixed income returns, bellwethers push NSE index by 2.53%

Negative fixed income returns, bellwethers push NSE index by 2.53%

Capital Market
As declining returns across fixed-income assets continue to buoy investors’ appetite in bellwether stocks, the All-share index (ASI), erased its year-to-date losses on Friday, appreciating by 2.53 per cent to close at 26,986.77 per cent last week. This is despite the one-day holiday declared by the Federal Government on Thursday, October 1st to commemorate Nigeria’s 60th Independence anniversary. Also, the market capitalisation of the Nigerian Stock Exchange (NSE) appreciated by 2.55 per cent to close the week N14.105 trillion. All other indices finished higher with the exception of NSE consumer goods, which depreciated by 0.75 per cent, while NSE ASeM Index closed flat. Analysts linked the improved buying interest, and positive sentiments to Monetary Policy Committee (MPC) de...
Monetary easing, drop in fixed income yield push index by 2.92%

Monetary easing, drop in fixed income yield push index by 2.92%

Capital Market
. NSE records best weekly performance in four months Following a sharp drop in fixed income yields triggered by further monetary easing by the Monetary Policy Committee (MPC), last week, Nigerian equities market recorded its best weekly performance in four months, crossing the 26,000 points for the first time since March 2020. The development caused the Nigerian Stock Exchange (NSE) All-share index, and market capitalisation to appreciate by 2.92% to close the week at 26,319.34 and N13.755 trillion, respectively. All other indices also finished higher with the exception of the NSE ASeM Index, which closed flat. Last week, the Monetary Policy Committee (MPC) of the Central Bank Nigeria (CBN), reduced the Monetary Policy Rate (MPR), from 12.5% to 11.5%. The decision continued t...