5 ways to make N5000 a day in Lagos

Five thousand Naira a day …it does not seem much, yet, over a year of  three hundred and sixty-five days, this simple five thousand naira  daily will amount to almost two million naira. With the current economic situation in Nigeria, Money has not been the easiest to make. However, with a lot of persistence and little bit of creativity, it is possible to make enough money per day here to help you survive and even start up a rainy-day fund. So, how does one possibly do this?  Here is a small list of ways you can make at least N5000 in a day in Lagos:

Sell used items

We always have something that we need to get rid of, and a good way to make money off them is by selling them off. You may have a garage sale, depending on the quantity, that way you make decent cash without even leaving your house; or  you can also sell them on sites such as Jumia Marketplace, OLX, or even Amazon. Aside from making extra bucks, it will help keep the clutter in your life to a minimum.

Tutor a student

It may come as a surprise, but tutors can easily make as much as N5000 and above per hour. You can either tutor students who are about to take certificate examinations , adults who have a hard time speaking or writing English or even novices who are looking to play a musical instrument (that is in the case you have such musical skills to teach). You can offer your services at churches or youth centers as a start.

Read also: 6 things most Nigerians do on Independence day

Clean someone’s home

A quick way to make N5, 000 a day is by Cleaning a home. A number of people in Lagos work around the clock and do not have the time to clean their homes, so they pay others to clean for them. Some others are just lazy and they let the house cleaning go a bit too long. You should be able to pick up N5,000 or more just from cleaning a couple of houses, depending on how extensive the chore is or how large the home is. You can advertise online or via mobile for this kind of job.

Turn your car to a taxi for a day

Another great way of making as much as N5000 a day is by turning your car into a taxi for a day. Transportation is a lucrative business in Lagos as people are always on the move. Stop at crowded bus stops and pick up passengers and depending on the distance you go per time, chances are you will make the sum quite easily by the end of the day.

Freelance Writing

The possibility of earning money through writing is endless. A number of sites and blogs are always looking for freelance writers who they can pay for content. While some may be on the search  for high quality writing , there are others looking for question and answer type articles. You just need to make sure you meet the deadlines and you get your pay. Some sites pay even much more than N5000.

 

 

 

 

RipplesNigeria …without borders, without fears

The post 5 ways to make N5000 a day in Lagos appeared first on Ripples.

from Ripples http://ift.tt/2dH11um
via IFTTT

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NSE Roundup! Nigerian equities lose N172bn amidst global rally

Nigerian equities set out for the last quarter of this year with strong selling pressure as profit-taking transactions on the September rally shaved off N172 billion from the market values of quoted companies.

Trading at the Nigerian Stock Exchange (NSE) were mostly on the downside as early results and expectations on the third quarter results of quoted companies failed to douse caution and rouse investors’ appetite. Benchmark indices for the Nigerian stock market indicated average week-on-week loss of 1.77 per cent, equivalent to a loss of N172 billion.

The performance of the Nigerian stock market was against the largely positive sentiments in most African markets and other advanced and emerging global markets.

The benchmark index for the Nigerian stock market, the All Share Index (ASI), declined from its week’s opening index of 28,335.40 points to close at 27,835.22 points. Aggregate market value of all quoted companies on the NSE declined from the week’s opening value of N9.733 trillion to close at N9.561 trillion.

There were 22 gainers against 35 losers during the week as against 35 gainers and 32 losers recorded in the previous week. A total of 123 stocks closed flat last week compared with 113 stocks in the previous week. These pushed the average year-to-date return for the Nigerian stock market deeper into losses at -2.82 per cent.

All sectoral and group indices showed widespread selling pressure across the sectors. The NSE 30 Index, which tracks the 30 most capitalised stocks, declined by 2.34 per cent last week. The NSE Banking Index dropped by 2.88 per cent. The NSE Insurance Index slipped by 0.08 per cent. The NSE Consumer Goods Index lost 2.69 per cent. The NSE Oil and Gas Index depreciated by 1.16 per cent. The NSE Industrial Goods Index dropped by 5.32 per cent while the NSE Pension Index, which tracks a basket of equities specially screened in line with pension investment guidelines, dropped by 1.79 per cent.

Cement companies, banks and fast moving consumer goods companies highlighted the decline at the stock market during the week. Lafarge Africa led the losers, in percentage terms, with a loss of 13.87 per cent to close at N47.20. Wema Bank followed with a loss of 12.5 per cent to close at 63 kobo. Caverton Offshore Support Group depreciated by 11.8 per cent to close at 67 kobo. PZ Cussons Nigeria lost 9.95 per cent to close at N18.64. Guinness Nigeria declined by 9.7 per cent to close at N88.45. Ashaka Cement dropped by 7.62 per cent to close at N15.03. Zenith Bank dropped by 6.4 per cent to close at N15.03 while May & Baker Nigeria declined by 6.1 per cent to close at 92 kobo.

On the positive side, Seven-Up Bottling Company led the gainers with a gain of 13.7 per cent to close at N158. FCMB Group rose by 8.41 per cent to close at N1.16. Champion Breweries gained 8.4 per cent to close at N2.72. United Capital appreciated by 7.3 per cent to close at N2.51. Fidelity Bank rose by 6.8 per cent to close at 94 kobo. Aiico Insurance rallied 6.6 per cent to close at 65 kobo. Diamond Bank rose by 5.8 per cent to close at N1.27 while Union Bank of Nigeria rose by 5.7 per cent to close at N4.80 per share.

The momentum of trading, in terms of turnover, also slowed down during the week. Total turnover stood at 934.91 million shares worth N6.36 billion in 12,352 deals as against a total of 1.287 billion shares valued at N9.30 billion traded in 15,258 deals two weeks ago. There were four trading sessions last week as Monday was declared a public holiday by the government in celebration of Nigeria independence. The financial services sector remained the dominant on the activities chart with a turnover of 817.195 million shares valued at N4.081 billion traded in 7,268 deals; contributing 87.4 per cent of the total equity turnover volume. The conglomerates sector staged a distant second with 46.366 million shares worth N86.730 million in 514 deals while the oil and gas sector placed third with turnover of 21.539 million shares worth N465.820 million in 1,310 deals.

Three banks-Access Bank, Diamond Bank and FCMB Group, were the most active stocks, altogether accounting for 364.68 million shares worth N1.07 billion in 1,359 deals, representing 39.01 per cent of the total equity turnover volume.

Read also: NSE LIVE! Dangote Cement lifts equities to marginal recovery

Also traded during the week were a total of 184 units of Exchange Traded Products (ETPs) valued at N2,077 in 16 deals compared with a total of 4.761 million units valued at N25.821 million traded in 45 deals two weeks ago.

In the debt segment, a total of 580 units of Federal Government bonds valued at N576, 723 were traded in two deals compared with a total of 2,023 units of Federal Government bonds valued at N1.925 million traded in four deals two weeks ago.

Nigeria and South Africa, which fell by 1.0 per cent, stood out negative in the African markets. Other major African markets showed considerable recovery. Egypt’s EGX 30 showed positive return of 5.3 per cent. Ghana’s GSE Composite Index appreciated by 3.5 per cent while Kenya’s Nairobi Stock Exchange’s benchmark index rose by 0.6 per cent.

With the exception of the United States of America (USA), most other advanced and emerging global markets also trended on the positive during the week. USA’s twin indices- the S & P and NASDAQ dropped by 0.3 per cent and 0.1 per cent respectively as the presidential election ticks nearer. Europe was mostly green. United Kingdom’s FTSE Index rose by 1.5 per cent. Germany’s XETRA DAX appreciated by 0.5 per cent. France’s CAC 40 inched up by 0.1 per cent while Russia’s RTS Index appreciated by 1.3 per cent. In Asia, it was also a positive trading week. Japan’s Nikkei Index rallied by 2.5 per cent. Hong Kong’s HANG-SENG Index appreciated by 2.3 per cent. Brazil’s IBOVESPA Index rose by 3.9 per cent while India’s SENS Index recorded a gain of 0.8 per cent for the week.

Besides the intervening fiscal and monetary policies, which are not likely to be influential in recent period unless there is a major policy shift, analysts believed that the Nigerian stock market direction in the next few days will be determined largely by expectations and inflow of the third quarter earnings of quoted companies.

Most companies at the stock market are expected to submit their nine-month results within the next 16 working days, in line with the rules at the stock market. Out of a total of 144 companies expected to submit the third quarter report on or before the end of this month, two companies-United Capital and Infinity Trust Mortgage Bank, blazed the trails last week.

“Sentiment in the coming week may further wane as investors remain cautious ahead of third quarter 2016 corporate releases,” Afrinvest Securities, a Lagos-based trader at the NSE, stated, referencing cautious side of the popular analysts’ position on the influence of third quarter earnings. Stable or steadily improving nine-month results can spur a rally, but the inflow of corporate releases is not expected to be strong this week.

 

 

 

 

 

RipplesNigeria …without borders, without fears

 

The post NSE Roundup! Nigerian equities lose N172bn amidst global rally appeared first on Ripples.

from Ripples http://ift.tt/2e5pU5J
via IFTTT

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5 ways to make N5000 a day in Lagos

Five thousand Naira a day …it does not seem much, yet, over a year of  three hundred and sixty-five days, this simple five thousand naira  daily will amount to almost two million naira. With the current economic situation in Nigeria, Money has not been the easiest to make. However, with a lot of persistence and little bit of creativity, it is possible to make enough money per day here to help you survive and even start up a rainy-day fund. So, how does one possibly do this?  Here is a small list of ways you can make at least N5000 in a day in Lagos:

Sell used items

We always have something that we need to get rid of, and a good way to make money off them is by selling them off. You may have a garage sale, depending on the quantity, that way you make decent cash without even leaving your house; or  you can also sell them on sites such as Jumia Marketplace, OLX, or even Amazon. Aside from making extra bucks, it will help keep the clutter in your life to a minimum.

Tutor a student

It may come as a surprise, but tutors can easily make as much as N5000 and above per hour. You can either tutor students who are about to take certificate examinations , adults who have a hard time speaking or writing English or even novices who are looking to play a musical instrument (that is in the case you have such musical skills to teach). You can offer your services at churches or youth centers as a start.

Read also: 6 things most Nigerians do on Independence day

Clean someone’s home

A quick way to make N5, 000 a day is by Cleaning a home. A number of people in Lagos work around the clock and do not have the time to clean their homes, so they pay others to clean for them. Some others are just lazy and they let the house cleaning go a bit too long. You should be able to pick up N5,000 or more just from cleaning a couple of houses, depending on how extensive the chore is or how large the home is. You can advertise online or via mobile for this kind of job.

Turn your car to a taxi for a day

Another great way of making as much as N5000 a day is by turning your car into a taxi for a day. Transportation is a lucrative business in Lagos as people are always on the move. Stop at crowded bus stops and pick up passengers and depending on the distance you go per time, chances are you will make the sum quite easily by the end of the day.

Freelance Writing

The possibility of earning money through writing is endless. A number of sites and blogs are always looking for freelance writers who they can pay for content. While some may be on the search  for high quality writing , there are others looking for question and answer type articles. You just need to make sure you meet the deadlines and you get your pay. Some sites pay even much more than N5000.

 

 

 

 

RipplesNigeria …without borders, without fears

The post 5 ways to make N5000 a day in Lagos appeared first on Ripples.

from Ripples http://ift.tt/2dH11um
via IFTTT

Read More

• Share

NSE Roundup! Nigerian equities lose N172bn amidst global rally

Nigerian equities set out for the last quarter of this year with strong selling pressure as profit-taking transactions on the September rally shaved off N172 billion from the market values of quoted companies.

Trading at the Nigerian Stock Exchange (NSE) were mostly on the downside as early results and expectations on the third quarter results of quoted companies failed to douse caution and rouse investors’ appetite. Benchmark indices for the Nigerian stock market indicated average week-on-week loss of 1.77 per cent, equivalent to a loss of N172 billion.

The performance of the Nigerian stock market was against the largely positive sentiments in most African markets and other advanced and emerging global markets.

The benchmark index for the Nigerian stock market, the All Share Index (ASI), declined from its week’s opening index of 28,335.40 points to close at 27,835.22 points. Aggregate market value of all quoted companies on the NSE declined from the week’s opening value of N9.733 trillion to close at N9.561 trillion.

There were 22 gainers against 35 losers during the week as against 35 gainers and 32 losers recorded in the previous week. A total of 123 stocks closed flat last week compared with 113 stocks in the previous week. These pushed the average year-to-date return for the Nigerian stock market deeper into losses at -2.82 per cent.

All sectoral and group indices showed widespread selling pressure across the sectors. The NSE 30 Index, which tracks the 30 most capitalised stocks, declined by 2.34 per cent last week. The NSE Banking Index dropped by 2.88 per cent. The NSE Insurance Index slipped by 0.08 per cent. The NSE Consumer Goods Index lost 2.69 per cent. The NSE Oil and Gas Index depreciated by 1.16 per cent. The NSE Industrial Goods Index dropped by 5.32 per cent while the NSE Pension Index, which tracks a basket of equities specially screened in line with pension investment guidelines, dropped by 1.79 per cent.

Cement companies, banks and fast moving consumer goods companies highlighted the decline at the stock market during the week. Lafarge Africa led the losers, in percentage terms, with a loss of 13.87 per cent to close at N47.20. Wema Bank followed with a loss of 12.5 per cent to close at 63 kobo. Caverton Offshore Support Group depreciated by 11.8 per cent to close at 67 kobo. PZ Cussons Nigeria lost 9.95 per cent to close at N18.64. Guinness Nigeria declined by 9.7 per cent to close at N88.45. Ashaka Cement dropped by 7.62 per cent to close at N15.03. Zenith Bank dropped by 6.4 per cent to close at N15.03 while May & Baker Nigeria declined by 6.1 per cent to close at 92 kobo.

On the positive side, Seven-Up Bottling Company led the gainers with a gain of 13.7 per cent to close at N158. FCMB Group rose by 8.41 per cent to close at N1.16. Champion Breweries gained 8.4 per cent to close at N2.72. United Capital appreciated by 7.3 per cent to close at N2.51. Fidelity Bank rose by 6.8 per cent to close at 94 kobo. Aiico Insurance rallied 6.6 per cent to close at 65 kobo. Diamond Bank rose by 5.8 per cent to close at N1.27 while Union Bank of Nigeria rose by 5.7 per cent to close at N4.80 per share.

The momentum of trading, in terms of turnover, also slowed down during the week. Total turnover stood at 934.91 million shares worth N6.36 billion in 12,352 deals as against a total of 1.287 billion shares valued at N9.30 billion traded in 15,258 deals two weeks ago. There were four trading sessions last week as Monday was declared a public holiday by the government in celebration of Nigeria independence. The financial services sector remained the dominant on the activities chart with a turnover of 817.195 million shares valued at N4.081 billion traded in 7,268 deals; contributing 87.4 per cent of the total equity turnover volume. The conglomerates sector staged a distant second with 46.366 million shares worth N86.730 million in 514 deals while the oil and gas sector placed third with turnover of 21.539 million shares worth N465.820 million in 1,310 deals.

Three banks-Access Bank, Diamond Bank and FCMB Group, were the most active stocks, altogether accounting for 364.68 million shares worth N1.07 billion in 1,359 deals, representing 39.01 per cent of the total equity turnover volume.

Read also: NSE LIVE! Dangote Cement lifts equities to marginal recovery

Also traded during the week were a total of 184 units of Exchange Traded Products (ETPs) valued at N2,077 in 16 deals compared with a total of 4.761 million units valued at N25.821 million traded in 45 deals two weeks ago.

In the debt segment, a total of 580 units of Federal Government bonds valued at N576, 723 were traded in two deals compared with a total of 2,023 units of Federal Government bonds valued at N1.925 million traded in four deals two weeks ago.

Nigeria and South Africa, which fell by 1.0 per cent, stood out negative in the African markets. Other major African markets showed considerable recovery. Egypt’s EGX 30 showed positive return of 5.3 per cent. Ghana’s GSE Composite Index appreciated by 3.5 per cent while Kenya’s Nairobi Stock Exchange’s benchmark index rose by 0.6 per cent.

With the exception of the United States of America (USA), most other advanced and emerging global markets also trended on the positive during the week. USA’s twin indices- the S & P and NASDAQ dropped by 0.3 per cent and 0.1 per cent respectively as the presidential election ticks nearer. Europe was mostly green. United Kingdom’s FTSE Index rose by 1.5 per cent. Germany’s XETRA DAX appreciated by 0.5 per cent. France’s CAC 40 inched up by 0.1 per cent while Russia’s RTS Index appreciated by 1.3 per cent. In Asia, it was also a positive trading week. Japan’s Nikkei Index rallied by 2.5 per cent. Hong Kong’s HANG-SENG Index appreciated by 2.3 per cent. Brazil’s IBOVESPA Index rose by 3.9 per cent while India’s SENS Index recorded a gain of 0.8 per cent for the week.

Besides the intervening fiscal and monetary policies, which are not likely to be influential in recent period unless there is a major policy shift, analysts believed that the Nigerian stock market direction in the next few days will be determined largely by expectations and inflow of the third quarter earnings of quoted companies.

Most companies at the stock market are expected to submit their nine-month results within the next 16 working days, in line with the rules at the stock market. Out of a total of 144 companies expected to submit the third quarter report on or before the end of this month, two companies-United Capital and Infinity Trust Mortgage Bank, blazed the trails last week.

“Sentiment in the coming week may further wane as investors remain cautious ahead of third quarter 2016 corporate releases,” Afrinvest Securities, a Lagos-based trader at the NSE, stated, referencing cautious side of the popular analysts’ position on the influence of third quarter earnings. Stable or steadily improving nine-month results can spur a rally, but the inflow of corporate releases is not expected to be strong this week.

 

 

 

 

 

RipplesNigeria …without borders, without fears

 

The post NSE Roundup! Nigerian equities lose N172bn amidst global rally appeared first on Ripples.

from Ripples http://ift.tt/2e5pU5J
via IFTTT

Read More

• Share

5 ways to make N5000 a day in Lagos

Five thousand Naira a day …it does not seem much, yet, over a year of  three hundred and sixty-five days, this simple five thousand naira  daily will amount to almost two million naira. With the current economic situation in Nigeria, Money has not been the easiest to make. However, with a lot of persistence and little bit of creativity, it is possible to make enough money per day here to help you survive and even start up a rainy-day fund. So, how does one possibly do this?  Here is a small list of ways you can make at least N5000 in a day in Lagos:

Sell used items

We always have something that we need to get rid of, and a good way to make money off them is by selling them off. You may have a garage sale, depending on the quantity, that way you make decent cash without even leaving your house; or  you can also sell them on sites such as Jumia Marketplace, OLX, or even Amazon. Aside from making extra bucks, it will help keep the clutter in your life to a minimum.

Tutor a student

It may come as a surprise, but tutors can easily make as much as N5000 and above per hour. You can either tutor students who are about to take certificate examinations , adults who have a hard time speaking or writing English or even novices who are looking to play a musical instrument (that is in the case you have such musical skills to teach). You can offer your services at churches or youth centers as a start.

Read also: 6 things most Nigerians do on Independence day

Clean someone’s home

A quick way to make N5, 000 a day is by Cleaning a home. A number of people in Lagos work around the clock and do not have the time to clean their homes, so they pay others to clean for them. Some others are just lazy and they let the house cleaning go a bit too long. You should be able to pick up N5,000 or more just from cleaning a couple of houses, depending on how extensive the chore is or how large the home is. You can advertise online or via mobile for this kind of job.

Turn your car to a taxi for a day

Another great way of making as much as N5000 a day is by turning your car into a taxi for a day. Transportation is a lucrative business in Lagos as people are always on the move. Stop at crowded bus stops and pick up passengers and depending on the distance you go per time, chances are you will make the sum quite easily by the end of the day.

Freelance Writing

The possibility of earning money through writing is endless. A number of sites and blogs are always looking for freelance writers who they can pay for content. While some may be on the search  for high quality writing , there are others looking for question and answer type articles. You just need to make sure you meet the deadlines and you get your pay. Some sites pay even much more than N5000.

 

 

 

 

RipplesNigeria …without borders, without fears

The post 5 ways to make N5000 a day in Lagos appeared first on Ripples.

from Ripples http://ift.tt/2dH11um
via IFTTT

Read More

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NSE Roundup! Nigerian equities lose N172bn amidst global rally

Nigerian equities set out for the last quarter of this year with strong selling pressure as profit-taking transactions on the September rally shaved off N172 billion from the market values of quoted companies.

Trading at the Nigerian Stock Exchange (NSE) were mostly on the downside as early results and expectations on the third quarter results of quoted companies failed to douse caution and rouse investors’ appetite. Benchmark indices for the Nigerian stock market indicated average week-on-week loss of 1.77 per cent, equivalent to a loss of N172 billion.

The performance of the Nigerian stock market was against the largely positive sentiments in most African markets and other advanced and emerging global markets.

The benchmark index for the Nigerian stock market, the All Share Index (ASI), declined from its week’s opening index of 28,335.40 points to close at 27,835.22 points. Aggregate market value of all quoted companies on the NSE declined from the week’s opening value of N9.733 trillion to close at N9.561 trillion.

There were 22 gainers against 35 losers during the week as against 35 gainers and 32 losers recorded in the previous week. A total of 123 stocks closed flat last week compared with 113 stocks in the previous week. These pushed the average year-to-date return for the Nigerian stock market deeper into losses at -2.82 per cent.

All sectoral and group indices showed widespread selling pressure across the sectors. The NSE 30 Index, which tracks the 30 most capitalised stocks, declined by 2.34 per cent last week. The NSE Banking Index dropped by 2.88 per cent. The NSE Insurance Index slipped by 0.08 per cent. The NSE Consumer Goods Index lost 2.69 per cent. The NSE Oil and Gas Index depreciated by 1.16 per cent. The NSE Industrial Goods Index dropped by 5.32 per cent while the NSE Pension Index, which tracks a basket of equities specially screened in line with pension investment guidelines, dropped by 1.79 per cent.

Cement companies, banks and fast moving consumer goods companies highlighted the decline at the stock market during the week. Lafarge Africa led the losers, in percentage terms, with a loss of 13.87 per cent to close at N47.20. Wema Bank followed with a loss of 12.5 per cent to close at 63 kobo. Caverton Offshore Support Group depreciated by 11.8 per cent to close at 67 kobo. PZ Cussons Nigeria lost 9.95 per cent to close at N18.64. Guinness Nigeria declined by 9.7 per cent to close at N88.45. Ashaka Cement dropped by 7.62 per cent to close at N15.03. Zenith Bank dropped by 6.4 per cent to close at N15.03 while May & Baker Nigeria declined by 6.1 per cent to close at 92 kobo.

On the positive side, Seven-Up Bottling Company led the gainers with a gain of 13.7 per cent to close at N158. FCMB Group rose by 8.41 per cent to close at N1.16. Champion Breweries gained 8.4 per cent to close at N2.72. United Capital appreciated by 7.3 per cent to close at N2.51. Fidelity Bank rose by 6.8 per cent to close at 94 kobo. Aiico Insurance rallied 6.6 per cent to close at 65 kobo. Diamond Bank rose by 5.8 per cent to close at N1.27 while Union Bank of Nigeria rose by 5.7 per cent to close at N4.80 per share.

The momentum of trading, in terms of turnover, also slowed down during the week. Total turnover stood at 934.91 million shares worth N6.36 billion in 12,352 deals as against a total of 1.287 billion shares valued at N9.30 billion traded in 15,258 deals two weeks ago. There were four trading sessions last week as Monday was declared a public holiday by the government in celebration of Nigeria independence. The financial services sector remained the dominant on the activities chart with a turnover of 817.195 million shares valued at N4.081 billion traded in 7,268 deals; contributing 87.4 per cent of the total equity turnover volume. The conglomerates sector staged a distant second with 46.366 million shares worth N86.730 million in 514 deals while the oil and gas sector placed third with turnover of 21.539 million shares worth N465.820 million in 1,310 deals.

Three banks-Access Bank, Diamond Bank and FCMB Group, were the most active stocks, altogether accounting for 364.68 million shares worth N1.07 billion in 1,359 deals, representing 39.01 per cent of the total equity turnover volume.

Read also: NSE LIVE! Dangote Cement lifts equities to marginal recovery

Also traded during the week were a total of 184 units of Exchange Traded Products (ETPs) valued at N2,077 in 16 deals compared with a total of 4.761 million units valued at N25.821 million traded in 45 deals two weeks ago.

In the debt segment, a total of 580 units of Federal Government bonds valued at N576, 723 were traded in two deals compared with a total of 2,023 units of Federal Government bonds valued at N1.925 million traded in four deals two weeks ago.

Nigeria and South Africa, which fell by 1.0 per cent, stood out negative in the African markets. Other major African markets showed considerable recovery. Egypt’s EGX 30 showed positive return of 5.3 per cent. Ghana’s GSE Composite Index appreciated by 3.5 per cent while Kenya’s Nairobi Stock Exchange’s benchmark index rose by 0.6 per cent.

With the exception of the United States of America (USA), most other advanced and emerging global markets also trended on the positive during the week. USA’s twin indices- the S & P and NASDAQ dropped by 0.3 per cent and 0.1 per cent respectively as the presidential election ticks nearer. Europe was mostly green. United Kingdom’s FTSE Index rose by 1.5 per cent. Germany’s XETRA DAX appreciated by 0.5 per cent. France’s CAC 40 inched up by 0.1 per cent while Russia’s RTS Index appreciated by 1.3 per cent. In Asia, it was also a positive trading week. Japan’s Nikkei Index rallied by 2.5 per cent. Hong Kong’s HANG-SENG Index appreciated by 2.3 per cent. Brazil’s IBOVESPA Index rose by 3.9 per cent while India’s SENS Index recorded a gain of 0.8 per cent for the week.

Besides the intervening fiscal and monetary policies, which are not likely to be influential in recent period unless there is a major policy shift, analysts believed that the Nigerian stock market direction in the next few days will be determined largely by expectations and inflow of the third quarter earnings of quoted companies.

Most companies at the stock market are expected to submit their nine-month results within the next 16 working days, in line with the rules at the stock market. Out of a total of 144 companies expected to submit the third quarter report on or before the end of this month, two companies-United Capital and Infinity Trust Mortgage Bank, blazed the trails last week.

“Sentiment in the coming week may further wane as investors remain cautious ahead of third quarter 2016 corporate releases,” Afrinvest Securities, a Lagos-based trader at the NSE, stated, referencing cautious side of the popular analysts’ position on the influence of third quarter earnings. Stable or steadily improving nine-month results can spur a rally, but the inflow of corporate releases is not expected to be strong this week.

 

 

 

 

 

RipplesNigeria …without borders, without fears

 

The post NSE Roundup! Nigerian equities lose N172bn amidst global rally appeared first on Ripples.

from Ripples http://ift.tt/2e5pU5J
via IFTTT

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