Mid-Week: Negative divergence persists as Dangote Cement Plc tilts scale again

Nigerian Market recorded similar trend as we had observed in the previous mid-week report while movement in Dangote Cement Plc continued to have domineering effect on the market.

The market price volatility is yet to be at ease as market swings in and out of green zone along with negative breadth while investors appeared more speculative amid sustained weak optimism- The price correction appeared close to the line as the low bargain appetite remain unimproved.

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FDC Bi-Monthly Economic & Business Update - July 2012

The Monetary Policy Committee in its July meeting surprised analysts and investors by making a most unexpected move. None of the earlier forecasts had predicted a tinkering with the CRR, not to talk about the magnitude of the 4% hike.

The initial reaction of the market was consternation, followed by a knee-jerk spike in inter-bank rates. Now that the dust has settled, and the initial euphoria is over, FDC economists take an incisive look into the macroeconomic aftermath of sterilizing N823bn or 6% of money supply, at a time when credit is anaemic, money supply is shrinking and inflation is back at 12.9%

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010812 Nigerian Stock Market resumes uptrend; records +1.16% gain

The bulls re-surfaced in style on the Nigerian bourse as the renewed bargain activities witnessed across the main board pull the market benchmark indicator back to the green zone while the positive transaction recorded in the share price of Dangote Cement Plc also contributed to the outlook witnessed after today’s session.

Nevertheless, the key benchmark indices resumed uptrend as sentiments turned positive, taking supports majorly from Large CAP stocks which was particularly driven by ZENITHBANK.

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