Monthly Equities Market Report | September 2024
Global Equities MarketIn September 2024, the MSCI World Index rose by 1.69% month-on-month (MoM), driven by upward momentum in most global equities. The only exceptions were the UK’s FTSE 100 and Japan’s Nikkei 225 indices, which declined by 1.67% MoM and 1.88% MoM respectively.
Domestic Equities Market
In September 2024, the Nigerian stock market rebounded from its two consecutive months of negative close, as the NGX All Share Index edged up by 2.05% MoM to settle at 98,558.79 points (vs. -1.22% MoM to 96,580.01 points). This brought the market’s year-to-date (YtD) up to 31.81%, from August’s close of 29.16% YtD.
In October, we expect the positive run in the market to persist as investors position themselves in tickers with strong fundamentals ahead of the release of Q3:2024 earnings results. Furthermore, dividend declarations and payments could help drive buying interest in the market. A downside to this outlook could be an upward trend in fixed income yields, which could spur selloffs in the equities market.
ARM Securities Limited is a full-service brokerage house that offers best-in-class brokerage services to local as well as foreign private and institutional investors. Formerly known as Hamilton Hammer, the Company commenced operation in 1994 and was acquired by ARM Investment Managers in 2008--an acquisition which has successfully re-positioned the company as a recognized brokerage firm in Nigeria. The Company is a dealing member of the Nigerian Stock Exchange (NSE) and is regulated by Securities and Exchange Commission (SEC). ARM Securities research team provides insightful commentaries on the Nigerian economy and its equity and debt markets using an approach which incorporates a thorough understanding of the fundamentals of the industries and companies under coverage. The research therefore adopts an integrated methodology of top-down analysis and bottom-up stock selection, which focuses on publicly quoted companies on the Nigerian Stock Exchange that are judged to offer the highest potential for earnings growth. In addition, its analysts provide periodic commentaries on a range of topical global and local issues which provide investing clients with a holistic view of the opportunities and risks in today’s financial market landscape.
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