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Headline Inflation Increases to 18.17% in March 2021; 0.82% higher than February 2021

Dear Client/Reader,

The National Bureau of Statistics just reported that the consumer price index, (CPI) which measures inflation increased to 18.17% (year-on-year) in March 2021. This is 82 basis points higher than the rate recorded in February 2021 (17.33%).

The percentage change in the average composite CPI for the twelve months period ending March 2021 over the average of the CPI for the previous twelve months period was 14.55%, representing a 0.50 percentage point increase over 14.05% recorded in February 2021.

Food Index Rose to 22.95%

Food index rose to 22.95% in March 2021. The average annual rate of change of the Food sub-index for the twelve-month period ending March 2021 over the previous twelve-month average was 17.93 percent, 0.68 percent points from the average annual rate of change recorded in February 2021 (17.25%). This rise in the food index was caused by increases in prices of Bread and cereals, Potatoes, Yam and other tubers, Meat, Fruits, Vegetable, Fish and Oils and Fats. On a month-on-month basis, the food sub-index increased to 1.90% in March 2021, up by 0.01 percent points from 1.89% recorded in February 2021.

Core Index stood at 12.67%

Price movements recorded by the Core index stood at 12.67% (year -on-year) in March 2021, up by 29 basis points as against 12.38% recorded in February 2021. The highest increases were recorded in prices of Passenger transport by air, Hospital services, Passenger transport by road, Pharmaceutical products, Paramedical services, Vehicle spare parts, Dental Services, Motor cars,  Maintenance and repair of personal transport equipment and Hairdressing saloons and personal grooming establishment.

Urban Index increased to 18.76%

The Urban index increased to 18.76% (year-on-year) in March 2021 compared to 17.92% recorded in February 2021, while the Rural index increased to 17.60% (year -on-year) in March 2021 as against 16.77% in February 2021. On a month-on-month basis, the urban index rose to 1.60% in March 2021, up by 0.02 percent compared to the rate recorded in February 2021, while the rural index also rose to 1.52% in March 2021, up by 0.02 percent above the rate that was recorded in February 2021 (1.50%).

Regards.

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Daily Financial Market Report for April 7, 2021

Equities market closes on a Positive note…ASI Gains 2 Basis Point

The Nigerian Stock Exchange (NSE) closed positive as bulls dominated proceedings in the market today. The benchmark All Share Index (ASI) appreciated marginally by 0.02% to close at 38,774.03. Similarly, Market Capitalization increased by N3 billion to close at N20.29 trillion while the Year-to-Date (YtD) returns settled at -3.72%.

Sectors performance was Significantly Bearish

Performance across sectors was significantly bearish as 4 out of the 5 sectors closed in the red zone. Insurance, Banking, Oil and gas and Industrial indices declined by 1.71%, 3.12%, 0.28% and 0.14% respectively, on the back of sell pressures recorded in the shares of STERLING (-9.47%), ZENITH (-4.11%), TRANSCORP (-3.66%), FIDELITY (-3.47%), GUARANTY (-3.28%), ACCESS (-2.47%), WAPCO (-2.33%), UBA (-0.83%), FBNH (-0.68%) and DANGSUGAR (-0.29%) among othersWhile Consumer goods sector advanced on the back of buy interests recorded in the shares of FLOURMILL (6.90%) and NESTLE (3.27%).

NASD Market

The NASD market closed positive after today’s trading activities as the Unlisted Securities Index (USI) increased by 0.13% to close at 749.57. Consequently, Market Capitalization also closed positive at N532.80 billion. Market activity measured by aggregate volume increased by 28.73% while value increased by 92.61%. Investors traded a total of 109,420 units of shares valued at N27.09 million in 7 deals. 

Please find here our Daily Financial Market update for today, April 7th, 2021.

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Daily Financial Market Report for March 30, 2021

Equities market closes on a Negative note…ASI Loses 57 Basis Point

The Nigerian Stock Exchange (NSE) closed negative as bears dominated proceedings in the market today. The benchmark All Share Index (ASI) depreciated by 0.57% to close at 39,267.11. Similarly, Market Capitalization decreased by N118 billion to close at N20.54 trillion while the Year-to-Date (YtD) returns settled at -2.49%.

Sectors performance was Broadly Bearish

Performance across sectors was broadly bearish as 2 out of the 5 sectors closed in the red zone. Insurance and Industrial indices declined by 0.16% and 1.90% respectively, on the back of sell pressures recorded in the shares of ETI (-4.72%), SOVRENINS (-4.17%), DANGCEM (-4.02%), FIDELITY (-2.92%), JBERGER (-2.68%), TRANSCORP (-2.50%), JAPAUL (-2.22%), JAIZ (-1.56%), INTBREW (-0.87%) and DANGSUGAR (-0.61%) among othersHowever, Banking and Consumer goods indices advanced by 0.94% and 0.07% respectively, on the back of buy interests recorded in the shares of LIVESTOCK (9.66%), UBA (4.35%), UACN (3.45%), ZENITH (2.95%), CHAMPION (2.27%), CADBURY (1.85%), STERLING (1.80%), STANBIC (0.91%) and GUARANTY (0.15%). Oil and Gas index remained unchanged.

NASD Market

The NASD market closed positive after today’s trading activities as the Unlisted Securities Index (USI) increased by 1.27% to close at 740.22. Consequently, Market Capitalization also closed positive at N526.16 billion. Market activity measured by aggregate volume decreased by 55.43% while value increased by 22.83%. Investors traded a total of 342,892 units of shares valued at N106 million in 13 deals. 

Please find here our Daily Financial Market update for today, March 30th, 2021.

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Daily Financial Market Report for March 29, 2021

Equities market resumes on a Positive note…ASI Gains 71 Basis Point

The Nigerian Stock Exchange (NSE) closed positive as bulls dominated proceedings in the market today. The benchmark All Share Index (ASI) appreciated by 0.71% to close at 39,493.37. Similarly, Market Capitalization increased by N145 billion to close at N20.66 trillion while the Year-to-Date (YtD) returns settled at -1.93%.

Sectors performance was Broadly Bullish

Performance across sectors was broadly bullish as 3 out of the 5 sectors closed in the green zone. Insurance, Banking and Consumer goods indices advanced by 0.56%, 2.06% and 0.19% respectively, on the back of buy interests recorded in the shares of CUSTODIAN (10.00%), GUARANTY (4.44%), WEMA (3.33%), MTNN (3.13%), WAPCO (2.56%), UCAP (2.34%), GUINNESS (2.33%), UACN (2.30%), UBA (1.47%) and DANGSUGAR (0.61%) among othersHowever, Oil and Gas and Industrial goods indices declined on the back of sell pressures recorded in the shares of OANDO (-6.06%) and DANGCEM (-0.44%).

NASD Market

The NASD market closed positive after today’s trading activities as the Unlisted Securities Index (USI) increased by 0.69% to close at 730.93. Consequently, Market Capitalization also closed positive at N519.55 billion. Market activity measured by aggregate volume decreased by 43.42% while value decreased by 76.78%. Investors traded a total of 769,371 units of shares valued at N86.72million in 12 deals. 

Please find here our Daily Financial Market update for today, March 29th, 2021.

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