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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...

Stock Market Bullish Run Halts… ASI Down 0.2%

In yesterday’s trading session, the three-day bullish run in the domestic equities market was halted as the All Share Index (“ASI”) fell 16bps to settle at 32,121.74 points following profit taking in SEPLAT (-3.6%), ZENITH (-0.8%) and ETI (-2.1%).

As a result, investors wealth decreased by N19.4bn to N12.0tn while YTD return moderated to 2.2%. Also, activity level weakened as volume and value traded declined 48.0% and 19.6% to 208.3m units and N2.8bn respectively.

The most active stocks traded by volume were ZENITH (45.4m units),GUARANTY (23.1m units) and FIDELITY (20.2m units) while ZENITH (N1.1bn), GUARANTY (N872.9m) and DANGCEM (N171.3m) led by value.

Bearish Sector Performance
Sector performance was largely bearish as 2 of 5 stocks under our coverage closed in the green. The Banking and Insurance indices gained a marginal 3bps and 2bps respectively, buoyed by modest price appreciation in GUARANTY (+0.9%) and ACCESS (+1.7%).

On the flip side, the Oil & Gas index extended losses as sell-offs in SEPLAT (-3.6%) dragged the index by 1.7% while the Industrial Goods index trailed, depreciating by 1.3% on the back of declines in CCNN (-5.0%).

Similarly, the Consumer Goods index fell 0.1% based on losses in DANGFLOUR (-0.9%), HONYFLOUR (-3.7%) and CADBURY (-1.9%) which dragged the index.

Investor Sentiment Softens
Investor sentiment as measured by market breadth (advance/decline ratio) fell to 0.4x from 0.8x recorded yesterday.

The top outperforming stocks were JAIZBANK (+5.0%), ACCESS (+1.7%) and UCAP (+1.5%) while the laggards were led by MCNICHOLS (-10.0%), ETRANZACT (-9.9%) and CCNN (-5.0%).

Despite yesterday’s bearish performance, we expect the benchmark index to post a positive close for the week as investors position in fundamentally sound securities ahead of dividend announcements.

Hot this week

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...

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

NSE 2017 Outlook: Economy Will Rebound Marginally

Global Economic Outlook Global economic growth is projected to reach 3.4% in 2017 according to the IMF, while Goldman Sachs’s chief economist puts this estimate at a range of 3.0% to 3.5%. Accordingly, all estimates suggest that there will be positive global growth in 2017.

Innovations, Disruptions Will Continue to Define Future of Banking in Nigeria – Akinwuntan

The Managing Director, Ecobank Nigeria, Patrick Akinwuntan has reiterated...

Stanbic IBTC: Most Outstanding Bank Supporting Women-Owned Businesses

Stanbic IBTC Bank Limited, a subsidiary of Stanbic IBTC...

Union Bank Charging Customers N50 for Teller

Union Bank of Nigeria Plc is alleged to be...

‘Paris Club Refunds to Stimulate Economy’

Official Statement by Mrs. Kemi Adeosun, Honourable Minister of...

Emirates Invests $2bn to Enhance On-Board Customer Experience

Emirates is investing over US$ 2 billion to enhance...

CBN Reassures Public on Banking Sector Stability

The attention of the Central Bank of Nigeria (CBN)...

An Industry Roadmap for Next Commissioner for Insurance

Considering the contests Nigeria has experienced to have candidates elected into political offices this year, I would sometimes wish that other offices, though professional but equally political, undergo such contests involving manifesto-based campaigns and broad consultation with stakeholders. More than the just concluded elections, the emergence of a new Commissioner for Insurance (CFI) and helmsman of National Insurance Commission (NAICOM) through appointment by the President matters and should matter for many Nigerians. This is because the Nigerian insurance industry bears the promise of employment to increasing number of young job seekers, the opportunity of long term investible funds as we enhance our infrastructural base and the hope for improvement in the management of the emergent risks associated with decisions concerning our national economy.
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