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Business

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

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ICT

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Capital Market

SEC DG: Commission Considering Gradual Implementation of ISSB Standards

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

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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

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

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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

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

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

NCC Spotlights Renewable Energy on World Consumer Rights Day

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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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Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

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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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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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Stock Market Statistics: Wednesday, 18th October 2017

Market Cap (N’bn)               12,612.6
Market Cap (US$’bn)                    41.2
NSE All-Share Index             36,641.52
Daily Performance % (0.1)
Week Performance % (0.0)
YTD Performance %                  36.3
Daily Volume (Million)                 198.6
Daily Value (N’bn)                      2.9
Daily Value (US$’m)         9.6

Banking Stocks Drag Market Performance… NSE ASI down 8bps
The Nigerian Bourse extended losses to the second consecutive session as the All Share Index moderated 8bps to close at 36,641.52 points while YTD return weakened to 36.3%.

Likewise, market capitalization declined by N9.7bn to settle at N12.6tn on the back of pull-backs in Tier-1 – ACCESS (-2.2%), UBA (-1.5%) and ZENITH (-0.5%). Activity level softened as volume and value traded fell 6.0% and 0.4% to settle at 198.6m units and N2.9bn respectively.

Negative Sector Performance Continues
Similar to previous trading session, sector indices’ performance was largely bearish with 3 sectors declining while 2 closed flat. The Oil & Gas index depreciated the most, down 0.4% owing to a 3.0% loss in TOTAL.

The Insurance index followed, closing 0.3% lower due to losses in NEM (-2.9%) and LAWUNION (-4.9%) while the Banking index lost 0.2% as a result of sell-offs in ACCESS (-2.2%), UBA (-1.5%) and ZENITH (-0.5%).

Relatedly, Guaranty Trust Bank, a leading Tier-1 Bank, submitted its 9M:2017 result; gross earnings fell 5.9% Y-o-Y from N329.3bn in 9M:2016 to N309.9bn in 9M:2017 whereas PAT rose 7.3% from N117.1bn to N125.6bn.

The Consumer Goods index was unchanged as appreciations in NIGERIAN BREWERIES (+0.3%) and DANGSUGA (+0.6%) were offset by depreciations in FLOURMILL (-2.7%) and NASCON (-4.7%). Similarly, the Industrial Goods index closed flat.

Investor Sentiment Weakens
Market breadth weakened from 1.0x recorded on Tuesday to a negative close of 0.6x after 12 stocks advanced against 21 decliners. Today’s best performing stocks were GLAXOSMITH (+5.0%), CUSTODYINS (+4.9%) and LEARNAFRCA (+3.9%), while NAHCO (-5.6%), LAWUNION (-4.9%) and CAVERTON (-4.8%) were the worst performers. Despite consecutive negative closes, we envisage a rebound in market performance in subsequent sessions due to positive outlook on Q3:2017 earnings results.

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By Dr. Michael Owhoko I am neither a prophet nor...

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