Nairaview's reading of the tape: short observations on reported market events. Not investment advice.
Today’s the day: PZ Cussons’ ₦2.50 final dividend (first since 2022, 3.7% at yesterday’s ₦68 close); today’s close is the last chance to be on the register. GTCO’s ₦1.00 interim qualifies Monday.
Eligible students who subscribe to at least 10 shares through the Foundation’s student portal may get another 10 funded on their behalf. Neither the funding nor the allotment is guaranteed. Here is how the scheme works and who qualifies.
Saturday PUNCH spoke to ordinary Nigerians funding their IPO subscriptions: business savings, adashe pools, sold farm produce, and one loan. Experts warn against borrowing or over-committing.
The ASI slipped just 0.04% on Friday to 251,101.37. But underneath, Trans Express gained 10% while VFD Group lost 10%, and 29 stocks advanced against 18 decliners. When the headline barely moves and the small-caps swing both ways, the market is repositioning, not resting. Worth watching into the Dangote offer close on 13 October.
Our first weekly recap: the index close, top gainers and losers of the final session, sector watch, and the corporate actions that mattered, every Saturday.
CBN cut the policy rate to 23% on 22 September and T-bill yields fell the next day. The ASI added 0.92% that week as money rotated out of fixed income into equities. The textbook rate-cut playbook, playing out on schedule.
The Banking Index is up 67.96% this year and added roughly ₦11 trillion in value, yet several lenders still trade below book value and trail African peers on earnings multiples. Either the discount is the opportunity, or the market knows something the multiples don’t.
Four insurers listed 11.79 billion new shares in a single week (82% of all new listings) through rights issues and placements. The insurance recapitalisation wave is no longer a story; it is dilution, and shareholders are living through it.
The market shed ₦3.55 trillion in two sessions as investors set aside cash for the Dangote Refinery offer. Big IPOs don’t just add supply later. They drain liquidity now. Worth remembering when the 13 October close approaches.
FTSE Russell’s reclassification took effect 21 September with 31 Nigerian stocks eligible for the Frontier index. Passive money tends to land on the largest, most liquid names first: the same heavyweights already driving the ASI.