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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...

Sustained Sell-offs Drag Equities Market… ASI Down 56bps

The downward trend in the equities market continued following price depreciation in GUARANTY (-1.0%), DANGCEM (-0.3%) and UBN (-3.7%).

Consequently, ASI dipped 56bps to 28,043.32 points while YTD loss worsened to -10.8%. Similarly investors lost N77.0bn, pulling down market capitalisation to N13.67tn. Activity level improved as volume and value traded rose by 12.5% and 116.0% to 243.7m units and N3.9bn respectively.

The top traded stocks by volume were GUARANTY (77.5m units), FBNH (29.5m units) and UBA (13.6m units) while the leading stocks by value were GUARANTY (N2.3bn), DANGCEM (N317.5m) and ZENITH (N247.4m).

Bearish Sector Performance 
Sector performance remained largely bearish as 5 of 6 indices under our coverage closed negative. The Insurance index topped the decliners, reversing yesterday’s gain with a loss of 1.5% on the back of sell pressures in MANSARD (-8.3%).

The Banking index trailed closely, retreating by 1.4% following price depreciation in GUARANTY (1.0%), UBN (-3.7%) and ACCESS (-3.1%). In like manner, the Consumer and Industrial Goods indices closed in the red, dipping 0.8% and 0.7% respectively following losses in UNILEVER (-3.0%), NESTLE (-0.4%), HONEYFLOU(-7.1%), WAPCO (-2.6%) and DANGCEM (-0.3%).

The bearish performance also extended to the Oil & Gas index, which declined by 0.1% as investors exited position in FORTE (-0.8%) and TOTAL (-0.1%). Conversely, the AFRI-ICT index closed flat.

Investor Sentiment Remains Flat
Investor sentiment as measured by market breadth (advance/decline ratio) remained flat at 0.3x due to 8 advancers against 26 laggers. AGLEVENT (+10.0%), CHAMS (+8.0%) and MBENEFIT (+5.0%) led the top advancers while JBERGER (-9.8%), NAHCO (-9.6%) and UNITYBNK (-9.2%) led the laggards. We expect the bearish performance to continue until we start seeing H1:2019 earnings results.

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

Why Investors Should Not Ignore Opportunities in Fragile States

Africa is experiencing fewer wars than it did two decades ago but conflict, insecurity and the fragility of states is still a major concern for business. Politically motivated instability can be seen in countries like Burundi, South Sudan, Mali, eastern DRC, Libya and Somalia, while Nigeria and Kenya are dealing with terrorist activities. But American entrepreneur Jake Cusack believes there are “genuine economic opportunities” in these fragile markets. He says companies need to be strategic about what parts of a country they invest in, and whom to partner with, as opposed to writing off an entire country.

MAAN Commends Unity Bank for Supporting Maize Farmers

From left: Mrs. Patricia Ahunanya, Head, Agribusiness, Unity Bank...

Sahara Foundation Unveils STEAMers Programme 2.0 to Empower African Students

Mobo Akpene, Programs Manager, Sahara Foundation; representative of STEM...

NCDMB Boss, Kesiye Wabote, Commissions GIL Automation’s Factory

The Executive Secretary of the Nigerian Content Development and Monitoring...

AIICO Earns Double Honours at 2024 Almond Insurance Industry Awards

L-R: Ademola Adenekan, Award Presenter, Titilola Ajigbotafe and Oluyemi...

NSE Employees Give Back in CSR Initiative

The Nigerian Stock Exchange has announced that its employees...

Seplat CEO: Court Vacates Interim Ex-Parte Orders

Mr. Roger Brown CEO Seplat A Federal High Court sitting in Lagos...

NCDMB, SLB Partner Varsities to Unveil Software Solutions for Oil, Gas Industry

L-R: Director, Planning, Research and Statistics, Nigerian Content Development...
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