The Nigerian Stock Exchange All Share Index and market capitalisation declined by 4.28% to close the week at 26,216.46 and N13.658 trillion respectively4. This rise was primarily driven by the Financial Services industry, particularly Guaranty Trust Bank Plc, United Bank for Africa Plc, and Zenith Bank Plc, which comprised 82% of the total trade volume valued at N17.2 billion. Despite this, the top six price gainers were mostly non-financial services firms including May & Baker Nigeria, Ekocorp, Neimeth International Pharmaceuticals, BUA Cement, and Ardova Plc. As the equities prices continue to drop, the dividend yields will remain attractive not only to local investors but also to global portfolio managers which will drive improvements in market activities.
March 23, 2020
Nigeria Economic Update (Issue 9)
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Nigeria Economic Update (Issue 3)
Recently released inflation rate report by the NBS shows a further decline in consumer price index in December 2017. At 15.37 percent, the CPI was 0.53 percentage points lower than the 15.90 percent recorded in November 2017. The food sub-index decreased to 19.42 percent from 20.21 percent, indicating reduced pressure on food prices in the review period. Core sub-index fell slightly to 12.1 percent from 12.21 percent in the preceding month. Going forward, the ability of the Central Bank of Nigeria (CBN) to control inflation in 2018 may be hampered by monetary injections by the government and politicians towards budgetary expenditure and election campaigns, respectively.