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    Billionaire businessman Aminu Alhassan Dantata dies at 94

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    Buhari says Nigeria security and economy improved during his tenure

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    Ellah Lakes Plc announces EGM to approve N250 billion capital raise, debt to equity conversion

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

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

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

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    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

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    SEC approves 7 NGX’s Derivative Contracts, to launch first ETD in west Africa

    SEC warns Nigerians against Forsman & Bodenforms Ltd, says operations are fraudulent

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    BREAKING: Former President, Muhammadu Buhari dies at 82

    JUST IN: All women banned from universities in Afghanistan

    UAE imposes new visa conditions on Nigerians, bans transit visa

    JAMB sets 150 as cut-off mark for 2025/2026 university admissions

    JAMB sets 150 as cut-off mark for 2025/2026 university admissions

    FX Restrictions: Nigerian banks resume international transactions on naira cards

    FX Restrictions: Nigerian banks resume international transactions on naira cards

    Billionaire businessman Aminu Alhassan Dantata dies at 94

    Billionaire businessman Aminu Alhassan Dantata dies at 94

    Israel and Iran agree on ceasefire – Trump

    Israel and Iran agree on ceasefire – Trump

    Breaking: Iran launches missiles at US bases in the Middle East

    Breaking: Iran launches missiles at US bases in the Middle East

    US military strikes Iran

    US military strikes Iran

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    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

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

    Air Sierra Leone commences flight operations to Lagos

    Air Sierra Leone commences flight operations to Lagos

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

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    Heineken moves ahead with mandatory takeover of Champion Breweries Plc

    Champion Breweries Plc to issue additional shares

    Stanbic IBTC Holdings Plc announces N1.50 interim dividend for half-year 2023

    Jaiz Bank announces final dividend

    Over 5 billion additional ordinary shares of Jaiz Bank Plc listed on NGX

    Jaiz Bank Plc reports N23 billion profit for 2024 FY.

    Ellah Lakes Plc announces EGM to approve N250 billion capital raise, debt to equity conversion

    Ellah Lakes Plc announces EGM to approve N250 billion capital raise, debt to equity conversion

    AGM suspension: Oando’s shareholder wins court case against SEC

    Oando Plc reports N113 billion profit after tax for Q1 2025 amid N165.6 billion tax credit

    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2025, qualification and payment dates

    Sovereign Trust Insurance Plc grows Profit after tax by 43%  in Q1 2021

    Sovereign Trust Insurance Plc appoints Abimbola Oguntunde as New Board Chairman

    FY 2020: Zenith Bank Plc rakes in N230.6 billion profit after tax

    Zenith Bank to exit CBN forbearance restriction end of June, confident in dividend payments

    FY 2020: FCMB Group Plc gross earnings, profit, assets see double-digit growth rates

    FCMB Group Plc addresses CBN’s forbearance loans directive, details capital management plans

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    NGX suspends trading in the shares of four listed companies

    Banking stocks plunge after CBN suspends banks under regulatory forbearance from paying dividends

    ELECTION: Cutix Plc reschedules Board Meeting

    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

    Again DMO offers N360 billion FGN bond for February

    DMO offers N300 billion FGN bond for auction in May

    NGX Daily Equities Market Report: Market gains for third consecutive days

    CSCS Plc explores listing on the Nigerian Exchange (NGX)

    NGX Daily Equities Market Report: Market gains for third consecutive days

    NGX delists Flour Mills shares, lists additional NB and Jaiz Bank shares

    Bitcoin soars above $21,000 as U.S. dollar sags

    BITCOIN hits $103,000 for the first time

    Bitcoin (BTC) rises above US$90,000 records a new all time high

    Bitcoin (BTC) rises above US$90,000 records a new all time high

    Bitcoin crosses US$60K, approaches All-Time High

    Bitcoin (BTC) rises above US$80,000

    Alhaji Dahiru Mangal sold his 1.96bn Oando Shares for N11.81bn

    NGX RegCo suspends Trading of Oando Plc shares

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    Trump wins a resounding victory in first Republican primary in Iowa

    How Donald Trump won the 2024 U.S Presidential Election

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

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

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

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

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

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

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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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