Bargain-Hunting in FTNCOCOA, RTBRISCOE, and TRANSCORP Lifts NGX by 1.51% WoW.
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Date30 May 2023
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The Local Bourse, last week, appreciated as the NGX ASI gain 1.51% WoW, closing positive in four of five trading sessions. Bargain-hunting in large-cap stocks such as FTNCOCOA (+54.55%), RTBRISCOE (+40.74%), and TRANSCORP (+16.29%) sustained positive performance. Hence, at 52,973.88 points the equities market Year-to-Date return increased to 3.36% as market capitalization appreciated by 151billion... Read More →
CBN Raises MPR by 50bps to 18.5%, the third time in one year
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Date25 May 2023
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The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate (MPR) by 50 basis points, from 18 percent to 18.5 percent, the third time in one year. Recall that the CBN had raised MPR from 16.5% to 17.5% in January, then to 18% in March 2023. This was contained... Read More →
Nigerian GDP Expanded by 2.31% in Q1’2023
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Date24 May 2023
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According to data recently released by the National Bureau of Statistics (NBS), Real Gross Domestic Product (GDP) grew by 2.31 percent (year-on-year) in the first quarter of 2023, compared with 3.11 percent in the corresponding quarter of 2022 and 3.52 percent in the preceding quarter. The economy moderated on its current recovery trajectory, posting positive,... Read More →
Nigeria’s Inflation Hits 22.22% In April 2023, Highest in 19years
Nigeria’s headline inflation rate rose to 22.22% in April 2023, a 0.18% point higher than the 22.04% recorded in the previous month. According to the latest Consumer Price Index (CPI) report by the National Bureau of Statistics (NBS), Nigeria’s inflation rate increased for the fourth consecutive month, maintaining the highest rate in 17 years. Compared... Read More →
Buy-interest in DANGSUGAR, BUAFOOD, and others, Boosts Bourse as NGX ASI gained 2.04% WoW.
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Date02 May 2023
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The Nigerian Equities market last week closed higher, as the NGX ASI gained 2.04% WoW, closing positive in all trading sessions. Buy-interest in large-cap stocks such as DANGSUGAR (+14.04%), BUAFOOD (+11.76%), and TRANSCORP (+14.69%) boosted the performance of the domestic bourse. Hence, at 52,403.51 points the equities market’s Year-to-Date return increased to 2.25% as market... Read More →
EARNINGS UPDATE: NB Plc Exhibited Negative Outing in Q1’2023.
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Date27 Apr 2023
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Consumer Goods giant, Nigerian Breweries Plc exhibited a negative outing in Q1’23 as Profit After Tax (PAT) declined by -21.29% to N10.715bn from N13.613bn in the corresponding period of 2022. This is partly due to the company’s inability to upscale its revenue in the period. Total Revenue declined by -10.49% to N123.313bn from N137.771bn in... Read More →
Nigerian Equities Depreciate by 309bps as Zenith, UBA Lead Losers.
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Date26 Apr 2023
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The value of listed equities on the floor of the Nigerian Exchange Group (NGX) depreciated by N37bn and 309 basis points while the All-share Index and Market Capitalization declined by 1.08% to close the week at 51,355.74 and N27.96 trillion from 52,944.13 and N28.92 trillion respectively. Year-to-Date closed at 0.20% last in the last trading... Read More →
Earnings Update: Total Energies Nig. Plc FY’22
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Date20 Apr 2023
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Cost of Sales, Finance Cost, and Taxation impaired the PAT When Total Energies Marketing Nigeria Plc closed its book for the 2022 financial year, its total revenue rose by 41.36% to N482.47bn compared to N341.31bn recorded in 2021. However, this positive performance was greatly affected by an increase in Finance Costs, Cost of Sales, and... Read More →
Losses in DANGSUGAR, SEPLAT, and Others Drive Nigerian Equities to Negative Territory as Market Capitalisation Records 1.20bps Decline.
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Date06 Apr 2023
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Trading on the floor of the Nigerian Equities Market depreciated on Friday, March 31, 2023, as twin indicators, The All-share Index & Market Capitalization declined by 1.20%, to close at 54,232.34 points and N29.544 trillion respectively, which brought about 5.82% Year-to-Date decrease in returns. Profit-taking in large-cap stocks such as DANGSUGAR (-7.10%), SEPLAT (-4.17%), and... Read More →
Profit-Taking in BUACEMENT, STANBIC, others Drag NGX Southwards.
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Date27 Mar 2023
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/CategoriesAside, Audio, Blog, Fit Row, Life Style, News Article, Post Slider, Quote, Uncategorized, Video
Last week, the local Bourse closed lower, as the NGX ASI sheds 0.04% WoW, closing negative in four of the five trading sessions. Profit-taking in large-cap stocks such as BUACEMENT (-1.60%), STANBIC (-5.80%), and NB (-4.50%) dragged the local bourse southwards. Hence, at 54,892.53 points, the equities market’s Year-to-Date return decreased to 7.11% as market... Read More →