Monday, January 30Inside Business Africa
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Tag: NSE

Stock market reverses gains as index drops by 0.59%

Stock market reverses gains as index drops by 0.59%

Capital Market
The Nigerian Stock Exchange (NSE) has reversed positive sentiment to close on a downturn yesterday as the shares of Nestle Nigeria and 25 others decline, leading to a fall of the All-Share Index (ASI) by 0.59 per cent.    At the close of trading, ASI contracted by 234.01 absolute points, representing a decrease of 0.59 per cent to close at 39,697.62 points while the overall market capitalisation value lost N122 billion to close at N20.77 trillion.    The downturn was driven by price depreciation in large and medium capitalised stocks including Nestle Nigeria, Flour Mills of Nigeria, Ardova Plc, Lafarge Africa and Unilever Nigeria. Analysts at Vetiva Dealing & BrokerageAs measured by market breadth, market sentiment was negative, as 26 stocks declined relative to 18 gainers. Academy...
Stock market reverses gains amid profit-taking

Stock market reverses gains amid profit-taking

Capital Market
After days of an upward trend, the bears seized control of the Nigerian Stock Exchange (NSE) yesterday leading to price losses suffered by some blue-chip stocks. This resulted in the market capitalisation depreciating by N65 billion.  Total capitalisation plunged by N65 billion to close at N20.978 trillion from N21.043 trillion traded the previous day. The All-Share Index (ASI) also depreciated by 0.31 per cent or 125.81 points to close at 40095.49 points, from 40221.30 points reported on Wednesday.  Analysts attributed the drop in the indices to profit-taking by investors, saying the trend would be sustained as investors move to leverage the moderate appreciation recorded in the last few days.  Investors traded 326.042 million shares valued at N3.713 billion in 4567 deals against ...
Operators renew call for IPOs in capital market

Operators renew call for IPOs in capital market

Capital Market
With the gradual return of bulls to the stock market, operators have renewed call for the government to develop focused strategies targeted at boosting operations of listed firms, to stimulate investments and sustain the current rally in the market. The operators, who spoke against the backdrop of an unprecedented rally witnessed in the market since the second quarter of 2020, maintained that this is the appropriate time for the government to implement policies that would help revive the primary market segment and attract new issues into the market. According to them, initial public offerings (IPOs) will boost investment interest and stock market average in terms of volume of activities and contributions to the gross domestic product (GDP), which is currently rated low when compared t...
Profit-taking heightens amid fears of MPR adjustment

Profit-taking heightens amid fears of MPR adjustment

Business
Index depreciate by 0.42%, as analysts urge caution As investors await the outcome of the next Monetary Policy Committee (MPC) meeting, amid fear of possible adjustment in rate, sentiments turned bearish as profit-taking dominated market performance at the equity sector of the Nigerian Stock Exchange (NSE) last week. The development caused the NSE All-share index and market capitalisation to depreciate by 0.42 per cent and 0.38 per cent to close the week at 41,001.99 and N21.449 trillion, respectively. Similarly, all other indices finished lower with the exception of NSE MERI Growth, which appreciated by 0.12 per cent while the NSE ASeM and NSE Growth Indices closed flat. Analysts linked the persistent profit-taking last week to fear that was heightened by the latest FGN Bond...
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 ...
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...
‘NSE data creates innovative products to enhance investment decision’

‘NSE data creates innovative products to enhance investment decision’

Business
The Nigerian Stock Exchange (NSE) has strengthened its position in providing quality data and creating innovative products that would help investors to make informed investment decisions. Chief Executive Officer of the NSE, Oscar Onyema, made the assertion during the Market Data Workshop held by the Exchange in partnership with Infoware Limited, in Lagos, at the weekend. The workshop themed: “Handling Shocks in the Capital Market: A Quantitative Approach to risk management using Market Data,” was held virtually. Onyema, in his welcome address, spoke on the usefulness of quality market data provided by the Exchange via deployment of innovative technologies to drive market efficiency. According to him, the NSE delivered real time data using innovative technology t...
‘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...
Stock market index gains 1.90 per cent

Stock market index gains 1.90 per cent

Business
Transactions on the Nigerian Stock Exchange (NSE) sustained its positive trend yesterday as more highly-capitalised stocks appreciated in prices, boosting the All-Share Index (ASI) by 1.90 per cent. At the close of trading, investors gained N325 billion as market capitalisation advanced to N17.384 trillion. Also, the ASI increased by 621.26 absolute points, representing a growth of 1.90 per cent to close at 33,268.36 points. The positive performance came from gains recorded by highly-capitalized stocks, including Nigerian Breweries Plc, Presco Plc, MTN Nigeria Communications plc (MTNN), Guinness Nigeria Plc and NASCON Allied Industries Plc. Analysts at Afrinvest Research said: “While there is yet room for profit-taking, we expect the local bourse to close the week on a bullish not...
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...

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