Connect with us
nairametrics
UBA ads

On the Money

Chart of the day: How Nigerian stocks fare in World Cup years

The FIFA World Cup takes place every four years. The 2018 edition tagged Russia 2018 begins today in Moscow.

Published

on

The Fédération Internationale de Football Association (FIFA) World Cup takes place every four years. The 2018 edition tagged Russia 2018 begins today in Moscow.

However, Nairametrics takes a look stock market performances on the Nigerian Stock Exchange (NSE), in every year and month that the global fiesta had taken place from Mexico 86 to Brazil 2014.

UBA ADS

See chart;

wpDataChart with provided ID not found!

 

Do you see any patterns?

GTBank 728 x 90

Nairametrics Research team tracks, collates, maintains and manages a rich database of macro-economic and micro-economic data from Nigeria and Africa. Our analysts share some of the data collated on Nairametrics, using formats such as docs, tables and charts etc. The team also publishes research based analysis as articles on a regular basis.

2 Comments

2 Comments

  1. priceiqng

    June 15, 2018 at 2:15 pm

    I can see a neck and shoulder pattern forming after this word cup

  2. Brian

    June 15, 2018 at 5:16 pm

    Quite Interesting!

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

On the Money

Naira drops to N460 against dollar

Naira has depreciated against the US dollar, as it dropped from N455/$1 to N460/$1 on Thursday afternoon.

Published

on

COVID-19 could save naira from depreciating further, Many odds against the naira, Naira forwards and parallel market crash puts pressure on official exchange rate, Naira appreciates to N386.94 to $1 at investor and exporters window. , Naira set for recovery as ABCON issues guideline to members for forex sales resumption, Naira falls against the Euro, British pound sterling but gains against the U.S dollar

Naira has depreciated against the US dollar, as it dropped from N455/$1 to N460/$1 on Thursday afternoon.

Data from Everdon BDC stated that the Naira, which Nairametrics had reported on Wednesday that it closed at N455, appreciated to N460 against the international legal tender.

UBA ADS

What it means for Nigerians: A weaker naira makes imports more expensive and increases the cost of production for businesses, as many Nigerian businesses rely on imported raw materials which can result in cost-push inflation.

The naira also dropped against British pounds sterling as it stands at N548 to £ 1 from its previous close rate at N545 to £1, while the Euro selling at N480 to €1 from its previous close rate of N470 on Wednesday.

(READ MORE: Official rate: Naira could depreciate “to N440 by year end” – Analysts)

GTBank 728 x 90

 

Naira falls against the Euro, British pound sterling but gains against the U.S dollar

In addition, the central bank of Nigeria has now said it would resume sales of forex to BDC for onward sales to businesses and Nigerians looking to purchase for approved items.

Consequently, Aminu Gwadabe, president, Bureau De Change Operators of Nigeria (Association of Bureau De Change of Nigeria) explained recently that Bureau De change operators will resume fully as soon as restrictions placed on air travel and international airports are lifted.

He said the return of the operators will help stabilize the naira and reduce the impact of currency hoarders and speculators.

app

“I, therefore, want our members and the General public not to engage on panic buying as anytime soon fingers might be burnt from such behaviors,” he added.

devland

 

Continue Reading

Markets

Naira appreciates at parallel market

Naira appreciated to N455 to a dollar on Wednesday, the first working day of the week after the 2-day sallah break.

Published

on

Naira value

The naira was strengthened today as it appreciated against the dollar in the parallel market.

According to information from Aboki fx, the naira appreciated to N455 to a dollar on Wednesday, May 27, 2020, the first working day of the week after the 2-day sallah break.

UBA ADS

This shows a gain of N5 when compared to the N460 to a dollar that it exchanged yesterday. The local currency was also stable against the Pound Sterling at N545.

READ ALSO: Did Satoshi Nakamoto cause the panic sell-off in Bitcoin market

In a related development, the naira showed signs of continued stability at the Investors and Exporters (I&E) window as it was still sold at N385.94 to a dollar, the rate it closed with on Friday last week.

GTBank 728 x 90

A further look into the FMDQ shows that there was improved liquidity at the I&E window, with the daily turnover being $31.38 million as against the $29.38 million that was recorded on Friday, the last working day before the public holidays.

The positive performance of the naira at the parallel market and the stability witnessed at the Investors and Exporters window can be attributed to improved liquidity in the foreign exchange market, which had been promised by the CBN Governor, Godwin Emefiele.

READ ALSO: Naira set for recovery as ABCON issues guideline to members on forex sales resumption

Just a few days ago, the Chairman of Bureau De Change Operators (ABCON), had announced the resumption of dollar sales to the BDCs. This is to help check the activities of foreign currency speculators and make dollars easily accessible to end-users, no matter where they are.

The resumption of dollar sales by the BDCs is also being done in anticipation of the full reopening of the economy, and the resumption of flight operations at our various airports.

app

devland
Continue Reading

Markets

Nigerian Breweries, Stanbic, Guinness, Dangote party with N8.59 billion on stock market bullish run

Market sentiment, as measured by market breadth, was positive as 33 tickers gained, compared to 11 losers.

Published

on

How your stocks performed last week, Bears rule at the stock market, lose N174.37 billion on Wednesday , Nigerian bourse up 0.54% as Investors gain N63 billionBears dominate Nigerian bourse Index down 0.94%, trading volume remains low,Bears dominate Nigeria bourse trading session, ASI down 2.02%, Bulls lift Nigerian bourse, Index up 1.24%, Investors gain N133 billion, Banking Stocks stop the raging bulls at the Nigerian Stock Market index down 0.01%

Nigerian Stock market came back from the holidays to post a positive result at the end of today’s trading, printing the All Share Index at 25,221.23 points after a 0.07% appreciation.

Equities investors on the local bourse gained N8.59 billion as market capitalization appreciated by the same margin to close at N13.13 trillion.

UBA ADS

Market turnover finished stronger, as total volume and value of trades increased significantly by 124.06% and 94.05% respectively, to 339.75 million units and N3.92 billion.

READ ALSO: MTN Nigeria announces final dividend of N4.97 for FY 2019

FBNH was the most traded stock by volume at 120.86 million units, while GUARANTY was the most traded stock by value at N1.54 billion.

GTBank 728 x 90

Market sentiment, as measured by market breadth, was positive as 33 tickers gained, compared to 11 losers. NB (Nigerian Breweries) recorded the highest price gain of 10% to close at N43.45 per share.

Performance across sectors closed mixed, as two out of the five indices under our coverage posted gains. Appreciation in tier one banking stocks STANBIC (+9.98%), ACCESS (+9.70%) and FBNH (+9.60%) spurred the lenders by +5.36%, followed by the Consumer Goods sector +3.09% on sustained gain in NB (+10.00%) and GUINESS (+817%).

Conversely, price decline in NAHCO (-3.33%) dragged the Industrial Index lower, while sell-offs in REGALINS (-8.70%); WAPIC (-6.06%) and ARDOVA (-10.00%) weighed down the Insurance, and  Oil & Gas indices.

READ ALSO: Nigeria’s Banking stocks hit by asteroids, Index down 0.39%

Top gainers

app

NB up 10.00% to close at N43.45; STANBIC up 9.98% to close at N35.8; DANGSUGAR up 9.37% to close at N14; GUINNESS up 8.17% to close at N19.2; and DANGCEM up 2.46% to close at N137.3.

devland

Top losers

ARDOVA down 10.00% to close at N14.4; TRANSCORP down 6.49% to close at N0.72; CAVERTON down 5.36% to close at N2.47; NAHCO down 3.33% to close at N2.32; and AFRIPRUD down 1.18% to close at N4.2.

Outlook

Buying interest in Nigerian Breweries, Guiness and Tier 1 banking stocks caused the Nigerian bourse to finish the first trading of the week on a positive note. Nairametrics envisages cautious buying, as market price swings are expected in the short term.

app
Continue Reading