Into today's NGX session: 3 things to watch

Good morning. The NGX All-Share Index closed Wednesday at 250,096.75 (-0.07%), its sixth red day in a row, but it's still up around 60% this year. Here's what I'm watching into today's session:

1. Q3 earnings. Analysts at AIICO Capital and Cowry expect the market to drift sideways or soft until Q3 results start landing. Strong numbers from the big banks could be what breaks the streak.

2. Treasury bill rates. The first T-bill auction of Q4 cleared at up to 15.85% on the 1-year bill. When safe paper pays that much, some money stays out of stocks, so watch whether buyers come back to the big names.

3. Bank stocks. Banking led yesterday's dip (-0.36%), and Zenith Bank alone made up about a fifth of all value traded. Where the banks go, the index usually follows.

Bonus: NGX CEO Temi Popoola says the Dangote Refinery IPO could pull more big Nigerian companies onto the exchange. More listings means more choice for all of us.

What are you watching today? Drop it in the comments, and add your portfolio on Gopexly so you can track your stocks through results season.

0 views

0 Comments

Sort by:

No comments yet — be the first!