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Business

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ICT

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Capital Market

SEC DG: Commission Considering Gradual Implementation of ISSB Standards

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ISSB-Aligned Disclosures Will Lower Capital Costs, Attract Global Investors — SEC

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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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Insurance

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

L:R- Funmi Olotu, National Coordinator, National Social Safety-Nets Coordinating...

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

Heirs Insurance Group (HIG), Nigeria’s fastest-growing insurance group, has...

Sovereign Trust Insurance Celebrates 2025 Customer Service Week

Sovereign Trust Insurance Plc has been actively involved in...

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

Leadway, one of Nigeria’s foremost non-banking financial services and...

Business

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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

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

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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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VerveLife 5.0 Gears Up for Nairobi, Lagos Events

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Capital Market

SEC DG: Commission Considering Gradual Implementation of ISSB Standards

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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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Sovereign Trust Insurance Celebrates 2025 Customer Service Week

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

Leadway, one of Nigeria’s foremost non-banking financial services and...

Equities Extend Losses to Third Consecutive Session… NSE ASI down 1.5%

At the close of trade today, the equities market extended losses to the third consecutive session as the benchmark index fell 1.5% to close at 35,629.13 points while YTD gain retreated to 32.6%. Consequently, investors lost N185.0bn as market capitalisation settled at N12.3tn.

Performance was dragged by losses in large cap stocks such as DANGCEM(-3.8%), GUARANTY (-0.5%), ACCESS (-3.9%) and DANGSUGAR (-4.9%). However, activity level improved as volume and value traded surged 66.1% and 93.8% to 239.9m units and N2.9bn respectively.

  • All Sector Indices Save For Insurance Close in the Red

Sector performance was largely bearish as all indices closed lower save for the Insurance index which 0.3% due to upticks in CONTINSURE (+4.5%) and NEM (+1.0%). The Industrial Goods index led losers, down 1.8% on account price depreciation in DANGCEM(-3.8%) while the Banking index followed, shedding 0.8% as a result of declines in GUARANTY (-0.5%) and ACCESS (-3.9%).

FIDELITY released its H1:2017 report today which showed Gross Earnings and PAT expanded by 22.1% and 65.6% Y-o-Y to N85.8bn and N9.0bn respectively. Similarly, the Oil & Gas index slid 0.5% owing to negative sentiment towards MOBIL (-5.0%). Losses in GUINNESS (-3.6%) dragged the Consumer Goods index 0.1% lower.

  • Investor Sentiment Weakens

Investor sentiment remained weak as market breadth (advancers/decliners’ ratio) dropped to 0.2x (from 0.5x recorded yesterday) – 7 stocks advanced against 30 that declined. The best performing stocks today were CUTIX (+10.0%), MAYBAKER (+4.5%) and CONTINSURE (+4.5%) while NAHCO (-5.0%), FIRSTALUM (-5.0%) and MOBIL (-5.0%) were the worst performers.

The continuous decline in market performance as seen in previous sessions presents an opportunity for bargain hunters to take advantage of stocks that had declined. Hence, we anticipate a rebound in the equities market in subsequent trading sessions this week.

Market Statistics: Wednesday, 30th August 2017

Market Cap (N’bn)              12,280.4
Market Cap (US$’bn)                    40.2
NSE All-Share Index            35,629.13
Daily Performance %     (1.5)
Week Performance %         (3.9)
YTD Performance %                  32.6
Daily Volume (Million)                 239.9
Daily Value (N’bn)                      2.9
Daily Value (US$’m)         9.6

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