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Monthly Equities Market Update | May 2024 | Rebound in both Global and Domestic Markets


Global Market Overview: Global Equities Stage a Rebound in May 
The global equities market staged a comeback in May 2024, following a sharp decline the previous month (April 2024). The MSCI World Index rose by 4.23% month-on-month (MoM), dragging most major indices up with it. The only exception was China's SHCOMP Index, which dipped slightly by 0.58% MoM.

Domestic Market: Nigerian Equities Market Edges Up in May Despite Rate Hike
The Nigerian equities market showed resilience in May 2024, reversing its negative performance from April. The All-Share Index (ASI) rose 1.09% month-over-month (MoM) to close at 99,300.56 (up from 98,225.63 in April), pushing the year-to-date (YTD) return to 32.00%, compared to 31.36% YTD previously.
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The ARM Research Team
 


 

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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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