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In: weekly report
23 Feb 2011Here are the NSE reports from IBTC, Lead Capital, FSDH Securities and Afrinvest for the weeks ended February 11th and 18th.
Week ended February 18th:
Afrinvest Weekly Market Summary & Stock Recommendations, Week Ended 18th February 2011 (225).
NSE Weekly Report - FSDH - Feb 18 2011 (264).
NSE Weekly Report - IBTC - Feb 18 2011 (227).
NSE Weekly Report - Lead Capital - Feb 18 2011 (258)And for the week of the February 11th:
Afrinvest Weekly Market Summary & Stock Recommendations, Week Ended 11th February 2011 (235).
NSE Weekly Report - FSDH - Feb 11 2011 (213).
NSE Weekly Report - Lead Capital - Feb 11 2011 (212)In: News|weekly report
9 Feb 2011Courtesy of FSDH, Lead Capital, and Afrinvest, here are there reports on the activities at the NSE for the week ended February 4th, 2011.
In: weekly report
28 Jan 2011Courtesy of FSDH, Lead Capital, IBTC and Afrinvest, here is the analysis of the Nigerian Stock market for the week ended January 21st 2011:
+ The NSE All-Share Index inched up at the end of the week by 153 bps, despite a weakened start.
+ The banking sub-sector rallied with more gains than losses this week, in spite of profit taking activities by participants. Few banking stocks recorded losses as Skye Bank, Stanbic IBTC, Union Bank, Bank PHB and Afribank all shed above 2.0% apiece. Low priced stocks were participants’ favourites this week and this led to some recording double digit gains at the end of the week. FinBank, Unity Bank and Spring Bank gathered 13.0%, 15.9% and 25.4% respectively, while some of them closed with unsatisfied bids. Some top-tier banks also recorded gains in excess of 3.0% each.
+ In the building materials sector, Dangote Cement emerged the lone gainer in the sector this week inching up marginally, while Lafarge WAPCO and Ashaka Cement both shed over 2.0% apiece.
+ Guinness inched up with a 13.5% gain, while International Breweries bagged a 9.0% gain to close the week. On the flip side, profit taking activities shaved off 6.0% from NB, signaling the end of its week-long rally.
Market notes:
The market resumed on a profit-taking note this week as the NSE All-Share Index cumulatively gained 419 bps.Participants, reacting to the disbursement disclosure by AMCON, scrambled for the available shares of rescued banks leading to cumulative gains in excess of 16.7% for Spring Bank, Afribank, FinBank and Oceanic Bank. Some mid-tier banks were also favoured this week, with Fidelity Bank, Sterling Bank and Stanbic IBTC bagging gains all week and recording cumulative appreciation of 11.1%, 11.4% and 15.8% respectively. Selling pressure however curbed the ascent of top –tier banks to marginal gains.
News on investments by Heineken in some breweries acted as a catalyst for the rally on NB. This and a combination of held back offers by sellers fuelled a frantic demand for the stock as it subsequently bagged a 10.0% gain at the close of the week. Demand for Guinness shares also remained strong this week, however illiquidity acted as a barrier to any price appreciation.
In line with the market trend, all companies in the building materials sector recorded price appreciations this week; Ashaka Cement inched up with a 5.2% gain, while CCNN and Lafarge WAPCO recorded gains of 6.0% and 4.2% respectively. Dangote Cement also inched up by 2.7% this week.
Below is the Official NSE 2010 Market Review and 2011 Outlook. Some points of note:
Proshare has prepared the wonderful report below listing all the results released in the NSE for 2010.
Full Year Results, Forecasts, Dividends, Listings and Delistings For 2010 - Proshare (269)Courtesy of Afrinvest and Lead Nigeria, here is the NSE report for the week ended January 7th 2011:
In: News|stock exchange
24 Dec 2010Courtesy of FSDH, Afrinvest, IBTC, and Lead Capital, here are the stats for the NSE for the week ended December 17th 2010:
<blockquote>+ The NSE All-Share Index closed flat this week.
+ Activities in the banking sub-sector were on the uptick this week, this translated to gains for GTBank, Zenith Bank and First Bank in excess of 3.0% apiece; however, the losers this week were made up mostly of low priced bank stocks, this was largely due to profit taking activities by the participants.
+ Thus, Intercontinental Bank led the losers chart in the sector with an11.0% decline, while Spring Bank, Fidelity Bank, Afribank and FinBank all shed above 6.0% apieceIn the breweries sector, Guinness recorded the lone gain of 1.8%, while NB shed 2.5% as International Breweries closed flat.
+ In the building materials sector; Dangote Cement and Lafarge Wapco shed marginal points, while Ashaka Cement and CCNN bagged above 8.0% each.
+ There was a lull in the food and beverages sector this week, however, the conversion announced by NBC inched up its price by 21.0%, while at the same time closing on robust bid. UTC, however, led the losers’ list in the sector with a 12.0% drop in price. Other stocks traded sideways in the sector this week.</blockquote>
In: stock exchange
24 Dec 2010A few months back, KPMG + Aluko Oyebode & Co. released a report of their investigation of the affairs of the NSE.The SEC had received reports alleging improprieties in the activities of the NSE management. As a result of this, an investigation was launched. You can read their full report below. But here is an excerpt of the summary section listing their findings:
In: Economy
24 Dec 2010Here is B.J. Rewane’s Year End Economic Outlook presented at the monthly Lagos Business School Executive Breakfast session for December 2010.
I encourage you to read it in full. It is loaded with information and statistics.
In: News|weekly report
17 Dec 2010I know… I know… This is a week late.
Courtesy of Afrinvest, FSDH, IBTC, and Lead Capital, here are the stats for the NSE for the week ended December 10th, 2010:
+ The week under review was bearish, as the NSE All-Share Index lost 146 bps.
+ Despite the bearish activities experienced in the market throughout the week, the banking sub sector managed to record marginal appreciation, on the share prices of some stocks that traded actively during the week. The likes of Union Bank, Oceanic Bank, Ecobank and Intercontinental Bank recorded gains below 3.0%, while GTBank gained 6.3% to close the week. Top losers in the sector were Afribank, Finbank & Zenith Bank with losses of 12.2%, 12.1% and 7.5% respectively. Other losers included Ecobank, Skye Bank, Fidelity Bank, Diamond Bank and Unity Bank amongst others that lost between 1.0% and 6.4%.
+ In the breweries sector, Guinness recorded the lone gain of 1.8%, while NB shed 2.5% as International Breweries closed flat.
+ In the building materials sector, CCNN went southwards losing 3.9%, while Ashaka Cement lost 4.2%. Dangote Cement on the other hand recorded a marginal points gain.
Courtesy of FSDH, Lead Capital, IBTC, and Afrinvest, here are the weekly NSE reports for the week ended Friday, November 26th 2010:
+ Most of the stocks of the rescued banks were bullish during today’s trading session, as participants continued to review their prices upward until they peaked at the maximum prices for the day. Oceanic Bank bagged maximum points, while other rescued banks gathered points in excess of 4.0% apiece. Zenith Bank and First Bank managed to record marginal points, while some stocks in the sector failed to delight participants; subsequently the likes of GTBank and UBA shed 1.1% and 1.3% respectively.
+ In the food and beverages sector, Dangote Sugar, Nascon, Nestle and Dangote Flour recorded gains ranging from 0.4% to 2.1%. Other stocks in the sector traded sideways.
+ The building and materials sector ended the week on a quiet note as participants were unwilling to review their prices upward. Ashaka Cement, despite the lull in the sector, recorded a 1.3% gain. Other stocks that traded in the sector remained unchanged.
Find below, a summary of the activities for the week ended today:
+ There was a lull in market activity this week, as the NSE All-Share Index shed 140bps cumulatively.
+ Profit taking shaved off varied points from the rescued banks’ stocks; Finbank, Intercontinental Bank, Wema Bank and Oceanic Bank all shed between 10.5% to 14.0%. However, the rescued bank stocks began rallying today and traded at the highest end of the market while closing with robust bids. GTBank and UBA also shed 2.8% and 6.4% respectively. On the flip side, Skye Bank, Ecobank, Spring Bank, Afribank and Fidelity Bank all gained points between 1.6% and 5.3%. No gains were recorded by the top tier banks this week.
+ Most stocks in the building materials sector traded sideways; however Lafarge Wapco gained 1.3%, while Ashaka Cement recorded a marginal loss.
+ In the breweries sector, all three traded stocks lost varied points; as institutional sales suppressed the share prices of NB, Guinness and International Breweries with losses of 1.2%, 9.6% and 13.6% respectively.
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