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Business

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ICT

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Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

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Capital Market

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SEC DG to Cadets:  Invest Early, Long Term to Create Wealth

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SEC DG: Accountability, Transparency will Boost Investor Confidence in Capital Market

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SEC DG: Digital Assets Represent $10tn Opportunity by 2030

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Insurance

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

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Leadway Assurance: Insurance Company of the Year at 2025 BAFI Awards

L-R: Managing Director, Leadway Assurance, Gboyega Lesi; Publisher, BuisnessDay...

Heirs Insurance Group Announces Inaugural Travel Festival: A Call for Inclusive Travel Ecosystem for Africans

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Sovereign Trust Insurance Celebrates 2025 Customer Service Week

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Leadway: 55 Years of Innovation, Expanding Financial Access, Inclusion Across West Africa

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Business

Troyka Holdings Chair, Biodun Shobanjo, Inducted into Loeries Hall of Fame

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Zenith Bank, NEM, Seplat, AIICO, Dangote Cement, First HoldCo Recognised as Nigeria’s High-Performing Companies

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Finance Min, Wale Edun, to Keynote FiBOP Annual Confab Oct 18

The Honourable Minister of Finance and Coordinating Minister of...

Niteon Unveils First African Manufacturers Bank to Unlock $200bn Digital Export Market

Niteon, one of Nigeria's largest digital export marketplaces, has...

FG Boosts MSME Financing with NCGC Initiative

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ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

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Governors, NCC Set for Broadband Awareness Forum Oct 20

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Capital Market

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Insurance

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

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Leadway Assurance: Insurance Company of the Year at 2025 BAFI Awards

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Heirs Insurance Group Announces Inaugural Travel Festival: A Call for Inclusive Travel Ecosystem for Africans

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Bears Dominate Despite Banking Sector Rebound… NSE ASI down 0.2%

The negative performance of the local bourse lingered yesterday, marking the fourth consecutive decline as the All Share Index (ASI) shed 0.2% to 38,605.07 points while the YTD return reduced to 0.9%. Accordingly, investors lost N16.2bn as market capitalisation declined to N13.9tn. Profit taking in market bellwethers – SEPLAT (-5.0%), GUARANTY (-0.9%) and NIGERIAN BREWERIES (-1.0%) – was responsible for yesterday’s bearish performance.

Similarly, activity level weakened as volume and value traded fell 31.4% and 37.4% to 267.8m units and N3.8bn respectively.

Yesterday’s top traded stocks by volume were ZENITH(44.8m), FBNH (38.7m) and ACCESS (25.8m) while ZENITH (N1.1bn), GUARANTY(N494.3m) and NESTLE (N414.8m) were the top traded stocks by value.

Mixed Sector Performance
Across sectors, performance was mixed as 2 of 5 indices we track closed in the green. The Insurance and Banking indices trended northwards, up 1.4% and 0.2% respectively as a result of buying interest in NEM (+4.9%), PRESTIGE (+10.0%), WAPIC (+4.3%),ZENITH (+2.0%), UBA (+1.4%) and ETI (+1.0%). On the flipside, the Oil & Gas index was the worst performer, down 2.6% due to losses in SEPLAT (-5.0%). Equally, the Consumer and Industrial Goods indices fell 0.3% and 0.2% respectively on the back of profit taking in NIGERIAN BREWERIES (-1.0%), DANGFLOUR (-1.4%), NASCON (-0.2%) and CCNN(-3.1%).

Investor Sentiment Strengthens
Investor sentiment as measured by market breadth (advance/decline ratio) strengthened to 1.2x (23 stocks advanced compared to 20 decliners) from 0.4x in the preceding session. The best performing stocks were PRESTIGE (+10.0%), CILEASING (+9.3%) and ETERNA (+8.9%) while SEPLAT (-5.0%), CUSTODIAN (-4.9%) and LIVESTOCK (-4.6%) were the worst performing stocks. In line with our expectation, profit taking across market bellwethers continued today despite improved investor sentiment.

We expect this bearish trend to be sustained in the next trading session although we do not rule out the possibility of a rebound by week end.

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Topics

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How Malnutrition Hinders Women Empowerment

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