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January 19, 2018

The equities market suprassed the 45,000pts mark today as improved bets in tier I banks offset profit taking in overbought small caps. Foreign investors upped demand in Guaranty(+4.99%) pushing prices to a fresh all time high of N54.71. Zenith(+2.17%) bounced back from yesterday’s slump on fresh domestic buying while UBA(+1.90%) also ticked higher mainly on domestic demand. Stanbic(+2.20%) and Unilever(+4.44%) were other notable gainers today. On the downside, investors booked profits from recent rallies in Dangsugar(-3.61%) and tier II banks such as Fidelity(-2.26%) and FCMB(-3.32%). Despite today’s gain, market breadth remained negative for the second consecutive day with losers outpacing gainers 4:3. Turnover stayed decent at N8.62bn ($23.8m) buoyed mainly by trades in top banks – Guaranty($3.3m), Zenith($3m) and FBNH($2.5m). Today’s +0.54% gain lifted ytd return to +17.91%, we expect...

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January 18, 2018

The equities market overcame an intraday pullback to close flat (-0.08%) today as a last minute domestic buying in cement...

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January 17, 2018

The equities market surged to a 9-year high today as the buying frenzy gained more traction amid increased domestic participation....

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January 16, 2018

The equities market sustained its bullish start to the year, adding another +2.17% on the back of a mix of...

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