Stocks that helped the market’s positive start to a new month include Seplat Energy Plc, Conoil Plc, Academy Press Plc, RT Briscoe Plc and Presco Plc. Nigeria’s equities market opened month of February on a positive note (+1.04percent or N262billion), pushing higher this year’s positive return to +10.29percent. Stocks that helped the market’s positive start […]
Tag: XNSA
Conoil, three other marketers post N622.42bn revenue
Four of the major oil marketing companies in Nigeria saw their combined revenue surged by 46.96 per cent last year as fuel demand recovers from the impact of the COVID-19 pandemic. The companies, namely Conoil Plc, TotalEnergies Marketing Nigeria Plc, MRS Oil Nigeria Plc and Eterna Plc, grew their total revenue by N198.9bn in 2021 […]
Investors and Psychology of Earnings Seasons
First quarters are always characterized by the announcement of audited financial results by companies quoted on the Nigerian Exchange Group Plc (NGX Plc). One of the key drivers of an efficient market is the availability of authentic and regular information from quoted companies. It is a post listing requirement that a listed company must submit […]
Stocks to watch out for in February on the NGX
The Nigerian equity market has started the year 2022 strong. The All-Share Index (ASI) in the month of January has gained 9.15%% for the month starting at 42,716.44 basis points to ending at 46,624.67 basis points. The market capitalization also grew in similar fashion from N22.3 trillion at the beginning of the month only to […]
Afrinvest Stock Recommendation for the Week 070222
Market Last Week (Our Observations) The local bourse extended its bullish run as the NGX All-Share Index rose 2.3% w/w to settle at 47,279.92 points. Accordingly, YTD return improved to 10.7% from 8.2% in the previous week while market capitalisation gained N579.2bn w/w to N25.5tn. Performance was bullish across sectors within our coverage as 4 […]
RT Briscoe Impresses Shareholders With 40% Weekly Rise
By Dipo Olowookere The shares of RT Briscoe increased by 40.00 per cent on the floor of the Nigerian Exchange (NGX) Limited last week, closing at 28 kobo per unit, giving shareholders of the company something to smile about. It led 42 equities on the gainers’ chart in the five-day trading week, lower than the […]
Investors Positioning In Dividend-paying Stocks To Continue
Investors, this week will continue to position for dividend-paying stocks, triggering more bargain-hunting activities on the equities sector of the Nigerian Exchange Limited (NGX). Analysts Optimism In the short term, analysts at Cordros Securities Limited expected the bulls to continue to rotate their portfolio towards dividend-paying stocks ahead of 2021 full year dividend declarations, even […]
Equity Markets: Was January Extraordinary?
Proshare Nigeria Pvt. Ltd. A month ago (10 January 2022) we wrote " Beware the January rally " and pointed out that equity market rallies in January have a habit of unwinding later in the year. What do we have to say now? FX Last week, the exchange rate at the Investors and Exporters Window […]
Tanzania: Absa Profit Rises, Defies Covid-19 Turmoil
Absa Bank Tanzania has registered a 1,875 per cent rise in net profit in the 2021 financial year showing how the bank maintained outstanding operational viability in the aftermath of the Covid-19, defying a year marked by turmoil in all sectors including the banking sector. "The year 2021 has been a very good year from […]
Meet Companies With The Worst Performing Stocks In January 2022
To say that the 2021 financial period was a bullish year for equities in the Nigerian capital market would be stating the obvious. The 2021 period had eight months of positive returns and four months of bearish season for the Nigerian capital market. Interestingly, the market ended with a positive return of 6.7 percent amid […]