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Business

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

Nigeria’s foremost advertising leader and Chairman of Troyka Holdings,...

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

L-R:    Michael Ani, Manager, Investor Relations, Dangote Cement; Oluseyi...

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

In a bid to boost economic growth and development,...

ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

  Konga, Nigeria’s leading composite e-commerce platform has partnered with...

NCC Spotlights Renewable Energy on World Consumer Rights Day

  The Nigerian Communications Commission (NCC) has concluded arrangements to...

Governors, NCC Set for Broadband Awareness Forum Oct 20

All Nigeria State Governors are set to discuss how...

VerveLife 5.0 Gears Up for Nairobi, Lagos Events

Following a successful series of Verve Life 5.0 satellite...

Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

The Executive Vice Chairman of the Nigerian Communications Commission,...

Capital Market

SEC DG: Commission Considering Gradual Implementation of ISSB Standards

The Director General of the Securities and Exchange Commission...

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

The Securities and Exchange Commission (SEC) has unveiled plans...

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

Graduating Cadets of the Nigerian Defence Academy (NDA) have...

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

The Director General of the Securities and Exchange Commission...

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

The Director General of the Securities and Exchange Commission...

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

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

Nigeria’s foremost advertising leader and Chairman of Troyka Holdings,...

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

L-R:    Michael Ani, Manager, Investor Relations, Dangote Cement; Oluseyi...

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

In a bid to boost economic growth and development,...

ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

  Konga, Nigeria’s leading composite e-commerce platform has partnered with...

NCC Spotlights Renewable Energy on World Consumer Rights Day

  The Nigerian Communications Commission (NCC) has concluded arrangements to...

Governors, NCC Set for Broadband Awareness Forum Oct 20

All Nigeria State Governors are set to discuss how...

VerveLife 5.0 Gears Up for Nairobi, Lagos Events

Following a successful series of Verve Life 5.0 satellite...

Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

The Executive Vice Chairman of the Nigerian Communications Commission,...

Capital Market

SEC DG: Commission Considering Gradual Implementation of ISSB Standards

The Director General of the Securities and Exchange Commission...

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

The Securities and Exchange Commission (SEC) has unveiled plans...

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

Graduating Cadets of the Nigerian Defence Academy (NDA) have...

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

The Director General of the Securities and Exchange Commission...

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

The Director General of the Securities and Exchange Commission...

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...

Local Bourse Extends Losses into 2nd Consecutive Session

In today’s session, sustained sell pressures amidst weak investor appetite weighed negatively on the local bourse as it extended losses into the second consecutive session. Sell pressures in DANGCEM (-3.2%), STANBIC (-10,0%), and NIGERIAN BREWERIES (-6.4%) dragged the All Share Index (ASI) southwards by 2.1% to settle at 32,466.27 points while YTD loss further moderated to -15.4%.

In line with market performance, market capitalisation skimmed N256.1bn to settle at N11.9tn. Activity level also weakened, as volume and value traded trended lower by 31.3% and 37.2% to 212.5m units and N3.8bn respectively.

The top traded stocks by volume were GUARANTY (43.6m), ZENITH (29.6m), and FCMB (22.1m) while the top traded stocks by value were GUARANTY (N1.6bn), ZENITH (N695.8m) and NIGERIAN BREWERIES (N572.8m).

Oil &Gas Index Emerges as Lone Gainer
Performance across sectors was largely bearish as 4 of 5 indices under our coverage trended southwards. The Industrial index depreciated the most, down 2.0%, following sell-offs in DANGCEM (-3.2%).

The  Consumer Goods and Banking indices trailed in the negative trend, as they shed 1.6% and 0.9% respectively, due to sell pressures in NIGERIAN BREWERIES (-6.4%), GUINNESS (-5.2%), STANBIC (-10.0%), and GUARANTY (-1.3%).

Losses in WAPIC (-7.0%) and NEM (-1.0%) dragged the Insurance index lower by 0.4%. On the flip side, the Oil & Gas index closed as the lone gainer due to gains in OANDO (+5.0%) and FO (+1.9%) on the back of positive 9M:2018 results which drove the index higher by 0.7%.

Investor Sentiment Weakens
Investor sentiment as measured by market breadth (advance/decline ratio) weakened to 0.5x from 0.7x recorded yesterday as 15 stocks appreciated against 30 decliners. REGALINS (+10.0%), INTBREW (+10.0%) and AIRSERVICE (+10.0%) were the best performing stocks while the worst performing stocks were UNIONDAC (-10.0%%), STANBIC (-10.0%) and DANGFLOUR (-9.8%).

Yesterday, we noticed sustained sell pressures on prior advancers indicating investor profit taking. We expect the bearish sentiment to remain elevated till close of the week although we advise cautious optimism.

Hot this week

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

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Stanbic IBTC Bank, LOXEA BYD forge alliance for Electric Vehicle Financing

In a strategic move to advance Nigeria’s shift toward...

CBN, Bank of Angola Sign MoU on Technical Co-operation at IMF/World Bank Meeting

In an effort to enhance bilateral cooperation and technical...

NBS: Nigeria’s Inflation Falls to 18.02% in September, Lowest Level in Three Years

Nigeria’s headline inflation rate fell for the sixth consecutive...

NUPEMCO Marks 2025 CSW with Nationwide Pension Awareness Activities, Huawei-Supported National Essay competition

The Nigerian University Pension Management Company (NUPEMCO) celebrated the...

Topics

Red Star Express Plc Partners DealDey to Enhance eCommerce Industry

In a strategic bid to constantly exceed customers’ expectations and enhance the eCommerce industry in Nigeria, Red Star Express Pl, has partnered with DealDey to take the online shopping business to greater height. Online shopping is fast gaining ground in Nigeria, taking up most conventional shopping as people, especially the elite, working class and the youth, who run tight/ busy schedules, place their orders from the online stores at the comfort of their homes and offices, and their purchases are delivered to them.

Nigeria’s Smartphone Market Grew in 2019 but COVID-19 Casts Dark Shadow

    Nigeria's smartphone market grew 5.3% quarter on quarter (QoQ)...

Anchor Insurance: N437m Profit, N7bn Premium, N14bn Total Assets

Mr. Augustine Ebose Managing Director/CEO Anchor Insurance Company Limited Anchor Insurance Company...

Sustained Profit Taking Drags Local Bourse… ASI Down 0.2%

Losses in the local bourse extended into the second consecutive...

Market Statistics: Tuesday, 21st November 2017

Market Cap (N'bn)                12,738.2 Market...

Nigeria Hosts WAICA 50th Anniversary as Efekoha Assumes Office as President

The Nigerian Insurance market is set to host the...

Paylater, Credit Mobile App in Nigeria Tops 1m Customers

In Nigeria, a country of nearly 200 million people,...

FCMB May Shut 36 Branches to Save Cost

There are growing indications that First City Monument Bank...
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