Nigerian Market News

• Market closes negative amid profit taking in banking stocks January 27, 2020
  The Nigerian stock market started last trading week in January with a negative performance following profit taking activities in banking stocks. Investors may have started reacting to the CBN’s Monetary Policy Committee (MPC) decision to increase Cash Reserve Ratio (CRR) by 500 basis points from 22.5 percent to 27.5 percent. The upward movement of CRR […]
• Banks turn laggards as CBN’s CRR policy takes shine off lenders’ stocks January 27, 2020
  Negative sentiment greeted the Cash Reserve Rate (CRR) raise by the Central Bank of Nigeria (CBN), as big lenders’ stocks slumped Monday with the sector emerging day’s worst performer. Apart from Guaranty Trust Bank which traded flat, tier-one banks lost, bringing the sector’s index 1.19 percent lower in the day, while the broader market dipped […]
• SEC goes tough on illegal fund managers January 27, 2020
  The Securities and Exchange Commission (SEC) has restated its determination to go after illegal fund managers and ensure they are made to face the full wrath of the law. Acting Director-General of the SEC, Mary Uduk, who stated this in an interview with journalists in Abuja at the weekend, said what the SEC had done […]
• Stanbic IBTC Zero Balance Account gives savers an edge January 23, 2020
  If you are like the average Nigerian youth who is just starting out and needs an account that allows you to start from scratch and grow your savings while giving you access to your money 24/7, then the Stanbic IBTC Blue Edge Savings Account seems perfect for you. The BluEdge Savings Account, is a product […]
• NSE promotes better understanding of securities lending with interpretative guidance January 23, 2020
  The recently released Securities Lending and Borrowing report from the Nigerian Stock Exchange (NSE) shows that a total of 20.8 million shares are available to the investing public for lending. The securities available include Presco, MTN Nigeria, Okomu Oil, Dangote Cement, United Bank for Africa, Dangote Sugar, Nigerian Breweries, Flour Mills, Chemicals and Allied Products […]
• Bank stocks are attractive despite CBN’s stringent regulations January 23, 2020
  Despite the stringent policies by the apex bank, Nigerian largest banks have a compelling valuation as there has been strong growth in profitability, revenue, and assets over the years. They also have the ammunitions to surmount the “winter”, even amid a low yield environment. Winter in G.R.R Martins best seller novel “Game of Thrones (GOT) […]
• Why we encourage retail investors –SEC January 22, 2020
  The Securities and Exchange Commission (SEC) said it has stepped up efforts to encourage retail investors to invest in the capital market in a bid to create wealth, deepen the market and grow the nation’s economy. Mary Uduk, acting Director General of the SEC who spoke to journalists in Lagos on the sidelines of the […]
• Market routes downwards following profit taking in ‘big names’ January 22, 2020
   The Nigerian stock market routed downwards on Tuesday January 21 as profit taking on major counters made the NSE All Share Index (ASI) trade under. Dangote Cement, GTBank, BUA Cement, Access Bank, and Zenith Bank stocks recorded significant dip at the close of trading on the Nigerian Stock Exchange (NSE). Investors sold these securities in […]
• Nigeria stocks route downwards as profit taking weighs January 22, 2020
  The Nigerian stock market routed downwards on Tuesday January 21 as profit taking on major counters made the NSE All Share Index (ASI) trade under. Dangote Cement, GTBank, BUA Cement, Access Bank, and Zenith Bank stocks recorded significant dip at the close of trading on the Nigerian Stock Exchange (NSE). Investors sold these securities in […]
• CardinalStone Research: Rising liquidity levels could drive more flows into equities January 21, 2020
  Monthly data spanning January 2014 to January 2020 suggests thatcn  Nigeria’s equity market had a 73.4percent correlation (R square of 53.9percent) with global crude oil price. The market is also impacted by flow of capital, policy changes, corporate restructurings and the pace of liquidity build up, in our view. Aided by improved oil price outlook, […]