• World
  • Columnist
  • Commodities
  • WORLD BUSINESS & ECONOMY
  • Executive Knowledge Series
  • Finance
  • Manufacturing
  • Markets
  • Risk & Governance
  • Small Business
  • Technology, Media & Innovation
  • Comments
  • Business AM WebTV
  • Login

Businessamlive
  • FRONTPAGE
  • FINANCE
    • AllAsset ManagementAuditBankingBondBudgetCapital MarketsC&I LeasingCurrencyDealDebt marketForexFund RaisingFundingGovernmentHedge FundsInsuranceInvestmentInvestorInvestor ServicesMergers & AcquistionsMoney marketTreasury BillsMortgagePensionsPersonal financePonziQuantitative EasingshareTaxationTSAWealth Management
      Finance

      Decent first 2021 auction for DMO, but drive to finance FGN deficit still poses a challenge

      6 hrs

      Finance

      Exposing Nigeria’s vulnerabilities: Covid-19, crude oil downsides from weak global macro environment

      6 hrs

      Finance

      Nigeria, Africa remittances on target as Wari, Lycaremit sign partnership

      January 21, 2021

      Companies

      Total Nigeria, Mixta, Valency, list new CPs on FMDQ platform to enhance financial markets development

      January 19, 2021

  • MARKETS
  • ECONOMY
    • AllAfricaAgricAirportsAmericaAsiaAustraliaBreakthroughDealEuropeForeign InvestmentsforexGlobal marketGovernanceIMFMiddle EastNECANigeriaOutlookRich listSouth AfricaSport BusinessTradeU.KWest AfricaWorld Economic forum
      Frontpage

      SDG: Covid-19 magnifies financing gap in developing countries by 70%, says OECD

      4 hrs

      Frontpage

      Africa startups received $2.44bn investment with marginal drop in 2020

      16 hrs

      Markets

      Nairobi Stock Exchange pushes expansion plans with more listings in 2021, says CEO

      January 23, 2021

      Africa Investment Forum

      Africa’s $60bn losses in illicit capital flows due to multinationals’ tax avoidance, says AfDB Adesina

      January 22, 2021

  • COMMODITIES
  • ENERGY
    • AllConferenceElectricityOil and GasPowerRenewable
      Oil and Gas

      Nigeria’s electricity DisCos create imbalance costing N20.5bn in 3 weeks  

      19 hrs

      Companies

      Appeal Court suspends order against shutting of SEPLAT headoffice

      January 23, 2021

      Frontpage

      OPEC welcomes push for electric vehicles, but says fossil fuel remains strong

      January 21, 2021

      National: Governance, Policy & Politics

      Nigeria ramps up domestic LPG consumption above 1MMT, says PPPRA

      January 20, 2021

  • TECHNOLOGY
  • MANUFACTURING
  • ANALYSIS
    • Analyst Insight

      Misconstruing Data Protection Officer function within organisations

      January 25, 2021

      Analyst Insight

      CBN meeting and NSE in focus

      January 18, 2021

      Analyst Insight

      Once again, fiscal stimulus takes centre stage

      January 18, 2021

      Analyst Insight

      Organisations must learn from the WhatsApp story  

      January 18, 2021

Frontpage

Buy interest in Zenith, PZ, Dangote Sugar lifts Nigerian equities by 0.24% as global bourses trade slightly higher

November 20, 2017950 views0 comments

The Nigerian local bourse opened the week Monday bullish on account of buy interest in Zenith, PZ and Dangote Sugar as market all-share Index (ASI) gained 24bps (0.24%) to close at 36,792.60 points. while year-to-date return expanded to 36.9 percent.

As a result, year-to-date gain expanded to 36.9 percent, while market capitalisation gained N30.9 billion to settle at N12.8 trillion.

The day’s performance was driven primarily by buying interest in ZENITH (+3.6%), PZ (+10.2%) and DANGSUGAR (+4.3%). However, activity level declined as volume and value traded fell 88.6 percent and 61.1 percent to 208.7 million units and N2.5 billion respectively.

Performance across sectors was broadly positive as three of five indices closed northwards, one declined while the other closed flat.

Read Also:

  • Bargain hunters feast on Airtel, MTN, Lafarge as Nigeria bourse swings higher
  • Nigeria equities go bearish on selloffs in DangCem, AXA Mansard, UBA
  • Experts optimistic African insurers can top global list, if…
  • Exposing Nigeria’s vulnerabilities: Covid-19, crude oil downsides from…
  • Access Bank unfolds ambitious expansion into Africa, global markets…

The banking and consumer goods indices rose 0.5 percent apiece on the back of price appreciations in ZENITH (+3.6%), UBA (+0.2%), PZ (+10.2%) and NESTLE (+0.4%).

Similarly, the insurance index gained, inching 0.4 percent higher due to buying interest in NEM (+4.5%) and LINKASSURE (+3.6%). On the flip side, the oil & gas index was the lone loser, down 1.1 percent primarily due to losses in FORTE (-9.7%). The industrial goods index closed the day flat.

Investor sentiment, measured by market breadth (advancers/decliners’ ratio), stayed positive at 1.2x – albeit moderating from 1.9x recorded previously Friday – as 17 stocks advanced against 14 stocks that declined.

Top three performers were PZ (+10.2%), NASCON (+9.6%) and ETERNA (+4.8%) while FORTE (-9.7%), LAWUNION (-4.6%) and UNITY (-3.8%) were the worst three performers.


Glo, Dangote, Airtel, 7 others prequalified to bid for 9Mobile acquisition


The day’s positive performance, according to analysts can be largely attributed to investors taking position in previous decliners and they expect this to continue in subsequent trading sessions.

U.S. stocks traded slightly higher Monday as Wall Street awaited more details on a tax overhaul that would slash corporate taxes.

The Dow Jones industrial average rose 77 points, with IBM as the best-performing stock in the index. The stock rose after Barron’s said IBM could gain more than 30 percent over the next 12 months.

The S&P 500 gained 0.1 percent, with telecommunications as the best-performing sector. Delphi Automotive was the best-performing stock in the index, rising 3.1 percent after analysts at Bank of America Merrill Lynch upgraded it to buy from neutral.

The Nasdaq composite also gained 0.1 percent.

In Europe bourses picked up the pace Monday afternoon, however gains were somewhat capped as political instability in Germany continued to rattle sentiment.

The pan-European Stoxx 600 rose 0.6 percent higher in afternoon deals, with most sectors moving into the black. All major bourses were trading higher, however the U.K.’s FTSE 100 was lagging behind the likes of France and Germany.

Market sentiment in Europe remained relatively unchanged after the U.S. open, as markets overseas began the day on a relatively flat note.

Share on Facebook Tweet Email
TagsDangote Sugar Nigerian Equities Nigerian local bourse PZ Zenith
PreviousWhat billionaire Amazon founder Jeff Bezos did at 30 to avoid living with regret
NextEpic antitrust fight looms for AT&T’s $85b Time Warner deal

Leave a comment

- Cancel reply

MARKET DATA

Market Videos

Recent Posts

  • Unilever Nigeria cuts operating loss significantly as revenue rises 1.3% to N61.6bn
  • Bargain hunters feast on Airtel, MTN, Lafarge as Nigeria bourse swings higher
  • SDG: Covid-19 magnifies financing gap in developing countries by 70%, says OECD
  • Nigerian university agriculture institute researchingflood resistant maize
  • CBN’s MPC keeps MPR at 11.50% in line with analysts’ expectations

World

Africa

Buhari, Okonjo-Iweala congratulate Adesina over reelection as AfDB President

Europe

EU businesses to cut investments in 2020, says EIB report

America

U.S. increases cost of visa application for Nigerians

Africa

Thatcher-Loving Nigeria Candidate Plans to Overhaul Economy

Africa

AfDB scales up industrialization pace on the continent, delivers improved business access to finance, skills, energy

Frontpage posts

0

World’s richest become $1trn richer in 2017

Frontpage December 27, 2017

1
2

Capital flows into Nigeria rise 138.6% to $12.2bn in 2017

Frontpage March 1, 2018

3

Rivers economy: Wike lists Amaechi’s N131.28bn monorail, hospital, model schools, others as white elephant projects

Frontpage September 28, 2020

4

Growth fears grip world markets ahead of possible rate hike in US

Frontpage December 18, 2018

5

Africa’s free trade area worth $3.3trn, says AFDB

Finance January 2, 2020

SUPPORT

  • Photo Gallery
  • Help Centre
  • About Us
  • Accessibility

LEGAL & PRIVACY

  • Terms & Conditions
  • Privacy
  • Cookies
  • Copyright

SERVICES

  • Conferences & Events
  • Analysts Research
  • Advertising Rate
  • Ebooks

TOOLS

  • Portfolio
  • Newsletters
  • News feed
  • Currency Converter

SUBSCRIBE

Join us to get latest updates on business related news.

[mc4wp_form id="3076"]
  • ABOUT US
  • CONTACT US
  • CAREERS
  • TERMS & CONDITIONS
  • PRIVACY POLICY
Copyright 2017. All rights reserved. BusinessAMLive. A Businessnewscorp Member Company.