Saturday, April 17African Business News
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Tag: ASI

Market sustains bearish as index dips further by 0.10%

Market sustains bearish as index dips further by 0.10%

Business
Trading at the Nigerian Stock Exchange (NSE) sustained a sliding profile yesterday, as more blue-chip stocks depreciated in price, causing the All-Share Index (ASI) to dip further by 0.10 per cent. At the close of transactions yesterday, the ASI fell by 43.78 absolute points or 0.10 per cent to close at 42,000.01 points. Similarly, the overall market capitalisation decreased by N23 billion to close at N21.971 trillion The downturn was impacted by losses recorded in medium and large value stocks, including Mills of Nigeria, Guaranty Trust Bank, Lafarge Africa, Champion Breweries, and UAC of Nigeria (UACN). Analysts at Afrinvest Limited said: “We believe the expectations of and trend in corporate releases will influence performance this week.”Vetiva Dealing & Brokerage ...
NSE defies GDP contraction, as earnings scorecards push index by 0.35%

NSE defies GDP contraction, as earnings scorecards push index by 0.35%

Economy
Transactions at the Nigerian Stock Exchange (NSE) defied the impact of the recently-published 2020 second quarter (Q2) report of 6.1 per cent gross domestic product (GDP) contraction to close the week on a positive note, as the 2019 full-year corporate scorecards and ongoing half-year earnings reporting season with dividend pay-out continue to support the bull run. Consequently, the NSE All-share index (ASI) and market capitalisation appreciated by 0.35 per cent to close the week at 25,309.37, and N13.203 trillion respectively. All other indices finished higher with the exception of the NSE Premium, NSE Banking, NSE AFR Div Yield, and NSE MERI Value Indices, which depreciated by 0.45 per cent, 0.23 per cent, 0.77 per cent, and 0.9 per cent, while the NSE ASeM Closed flat. Desp...
Bulls increase traction as market index rise further by N40 billion

Bulls increase traction as market index rise further by N40 billion

Uncategorized
Transactions on the equity sector of the Nigerian Stock Exchange (NSE), sustained a rising profile yesterday, as more blue-chip stocks appreciated in price, resulting in a further increase in market capitalisation by N40 billion. Specifically, at the close of transactions Tuesday, the All -Share Index (ASI), added 75.82 absolute points, a 0.31 per cent rise to close at 24,841.94 points. Similarly, investors gained N40 billion as market capitalisation increased to N13.959 trillion. The upturn was impacted by gains recorded in medium and large value stocks, including Seplat, Nigerian Breweries, Flour Mills of Nigeria, Zenith Bank, and UAC of Nigeria (UACN). Capital market analysts noted that the current undervalued state of the market offers opportunities to position for the sho...
Stock market index rises further by 2.32% despite lockdown extension

Stock market index rises further by 2.32% despite lockdown extension

Capital Market
Despite government’s decision to extend the lockdown in Lagos, Abuja and Ogun states by additional 14 days, the Nigerian equities market commenced trading in an upbeat yesterday, as index appreciated further by 2.32 per cent. The market re-opened for transaction yesterday after the one –day public holidays declared by the federal government to mark the Easter celebrations. Specifically, the All-Share Index (ASI) gained 495.92 absolute points, representing a growth of 2.32 per cent to close at 21,879.95 points. Similarly, the market capitalisation gained N259 billion to close at N11.403 trillion. The upturn was largely boosted by capital appreciation recorded in the shares of the following mid and large capitalised stocks, Dangote Cement, MTN Nigeria, Stanbic IBTC Holdings, Nigeri...