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    Festus Keyamo – Our Plans for the Murtala Mohammed International Airport Lagos

    Weekly Market Report: NGX rose 0.48% as Conoil shareholders lose 18.89%

    Conoil Plc reports 88.8% drop in profit to N900 million in H1 2025

    Brent crude oil price rise above $70 on OPEC projections

    OPEC+ agrees to increase oil production for September

    Nigeria to concession Enugu, Port Harcourt and three other airports

    Federal Government approves 30-year concession for Enugu Airport

    Only 23% of Nigerians trust INEC- Report says

    Nationwide Voter registration begins August 18 – INEC

    FG approves 300% increase in electricity tariff

    NERC has no authority over state tariff – Enugu Electricity Regulator

    US Court clears Donald Trump to run for President

    Breaking: US and EU agree trade deal

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    President Tinubu approves establishment of South-East Investment Company

    President Tinubu approves establishment of South-East Investment Company

    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

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    United States scraps visa dropbox service for Nigerian applicants

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    Buhari says Nigeria security and economy improved during his tenure

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    President Tinubu assents to Nigerian Insurance Industry reform bill 2025

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    Nigeria’s C&I Leasing Plc to invest in Leasafric Logistics Ghana

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    Consolidated Hallmark Holdings Plc declares 10 kobo interim dividend for H1 2025

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    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

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Equity Market Weekly Review: Bulls Back on Track…Industrial Goods Index Gains 4.4% WoW

Sunday, 29 November 2020, 9:30 am
in Markets, Stocks/Equities
0
Nigerian Equities Market weekly review: September opens with N154.433 billion gain for Investors
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(Greenwich Merchant Bank): Stocks returned to winning ways this week, with the All-Share Index and market capitalization climbing 2.19% higher to close at 34,885.51 points and NGN18.23trn. Against this backdrop, the YtD returns firmed up to +29.97%.

Activity level tapered as average volume and value of traded units fell -84.04% and -27.57% WoW to 363.24 million units and NGN5.16bn. For the week, NEIMETH rose 12.03% WoW to sit atop the gainers’ chart at NGN2.70. Conversely, JAPULOIL shed 11.11% WoW to NGN0.24 to be the week’s biggest decliner.

Across sectors, performance was uneven with the Industrial Goods sector (+4.4%) advancing the most, followed by the Oil & Gas (0.6%) and Insurance (0.3%) sectors. On the flip side, the Banking sector tanked -1.3% and the Consumer Goods space shed 0.5%.

Have you read?

  • Global Economy:  Activities Firm Up in the UK and US Economy…as Eurozone’s PMI Wanes
  • Domestic Economy: Corporate Income Tax Plunged 20.1% YoY on COVID-19 Pandemic
  • Fixed Income Market: Liquidity Sustains Downtrend in PMA Stop Rates

The Bulls remerged, shrugging off concerns at the start of the week after the NBS GDP report confirmed a recession in Q3. Specifically, the positive drive of the market was on the back of bargain-hunting on fundamentally sound tickers in sectors that had posted impressive real GDP growth like Cement, Telecommunications, Financial Institution and Food Beverage and Tobacco.

This is evidenced in WoW price accretion in stocks like DANGCEM (+6.1%), BUACEMENT (+4.8%), AIRTELAFRI (+7.0%), INTERBREW (+2.6%), and select Banking stocks, securing a close in the green zone for the broader market. Going-forward, the depressed yield environment in the fixed income space and buoyant liquidity backdrop will continue to act as push factors toward equities. 

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    Equity Market Weekly Review: Bearish Sentiment…
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