Sunday, May 01, 2022 / 09:00 AM / by Proshare Research/ Header Image Credit:

Equities Market Performance Review

Nigerian Stock Market closed the month of January 2022 in the green zone to open the year on a bullish note as market sentiment turned positive as against the decline recorded in the month of December 2021. The NGXASI moved up by +9.51% in January 2022. It firmed up further in February 2022 with +1.655 uptick while the benchmark indicator dipped slightly by -0.91% in March 2021.  

Quarter-on-Quarter, the NGXASI grew by +9.95% in Q1 2022 as against -3.04% decline in Q1 2021 

Similarly, the NASD NSI opened year 2022 on a positive note as the index inched up by +0.16%. The index erased the gains recorded in the month of January 2022 as it dipped by -2.44% in February 2022. It declined further by -0.19% in March 2022. 

Quarter-on-Quarter, the NASD NSI declined by -2.47% in Q1 2022 as against +1.91% growth in Q1 2021

New Issues in Q1 2022

Based on updates from the Nigerian Exchange Ltd, new issuance worth N1.70trn and $4bn Eurobond were listed on the NGX in Q1 2022. The new issuance was listed across both bonds and equities. 

The breakdown is as follows.

1. FGN Bonds                      - N589.06bn
2. Eurobonds                       - $4bn
3. Corporate Bonds           – N35.3bn 

On equities, the listings are as follows.

1. BUA Foods                      -N720bn
2. Abbey Mortgage Bank – N3.03bn
3. Access Holdings Plc -N353.68bn

In this edition of The Nigerian Capital Market Service Report, we continue the updates of our data section with latest figures on Economic indicators & Upcoming Events in the market and economy. This is to ensure that we deliver a comprehensive capital market service report that helps cover and track innovations, developments as well as service issues in the market effectively. 

In all, the Q1 2022 SSS Quality Report is a snapshot and aide memoire of developments in our market - tracking milestones that the investing public should be aware of. Do feel free to share your opinions/observations and feedback with us vide [email protected]  

Thank you. 

For: Analyst Editorial Board

Saheed KIARIBE

Executive Director, Research Services

Chart 1: Capital Market Size By Exchanges – March 2022