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Monthly Equities Market Update | April 2024 - Bearish in both Global and Domestic Markets


Global Market Overview:  Global Equities Hit a Speed Bump in April
April 2024 saw a sharp reversal of fortune for global equities, snapping a five-month winning streak. The MSCI World Index shed 3.83% month-over-month (MoM), dragging most major indices down with it. The only exceptions were the UK's FTSE 100 (+3.44% MoM) and China's SHCOMP Index (+0.97% MoM).


Domestic Market: Negative Sentiment Pervades the Market
In April 2024, the Nigerian equities market witnessed bearish sentiment owing to the introduction of various policies (recapitalization exercise and change in loan-to-deposit ratio requirement to 50%) and a high Naira fixed income yield environment (average yield: +2.03% MoM to 20.57%), which spurred selloffs in the domestic market particularly in the Banking sector (-24.79% MoM). 



 

Provider
ARM Securities Limited
ARM Securities Limited

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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