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SF Markets - November 2016 Index Highlights

Proshare

Friday, December 02, 2016 6:55 PM/Scottfree Markets

Monthly overview of the Nigerian financial markets as reflected through SF Markets equity and fixed income indices. SF Markets is a provider of innovative benchmark and tradable indices focused on the Sub-Saharan African region.

Equity: November Highlights


         All (NGN) equity indices had negative returns for the month of November. The best performing index for the month was the SFNG Micro Cap Index, which returned -0.05% compared to -0.19% in October. 

         Volatility for the SFNG Blue-Chip 30 Index (Large Cap stocks) in November was at 9.68% (down from 10.21% in October).

         Currency Indices: The SFNG Blue-Chip 30 Index (USD) was down 4.67% while the SFNG Blue-Chip Index (EUR) was down 1.73% for the month of November.

         The SFNG Total Share Index (representing 99.5% of the Nigerian equity market) had a 7.28% decrease in total market capitalisation from NGN 9.32trn (October) to NGN 8.64trn (November) while the free-float market capitalisation for the index decreased by 4.67% from NGN 3.4trn (October) to NGN 3.24trn (November).

         Using the 6 month Average Daily Traded Value (ADTV) measure, liquidity for the SFNG Total Share Index in November came in at NGN 2.32bn (a decrease from the NGN 2.48bn recorded in October).

•        In November, 3 companies in the SFNG Total Share Index had dividends go ex, compared to 5 companies in October. The dividend yield for the index in November came in at 5.99% compared to 5.92% in October.

Sector Performance



        The best performing sector in the SFNG Total Share Index for the month of November was Technology (0%) while the worst performing sector was Oil & Gas (-16.15%).

         Barring the Technology sector which was unchanged, all other sectors in the SFNG Total Share Index had negative returns for the month of November.

Security Performance

 Top 5 Performers



·       The best performing stock in the SFNG Total Share Index for the month of November was Mobil Oil Nig Plc (40.35%) while the worst performing stock was Forte Oil Plc (-55.24%).

Fixed Income: November Highlights



         The Alpha Bond Index returned -1.93% in November while the Alpha Bond Index (USD) returned -1.84%.
      Volatility for the Alpha Bond Index in November was at 5.02% (up from the 3.77% recorded in October).

    The market value of the Alpha Bond Index decreased by 0.87% from NGN 5.32trn in October to NGN 5.27trn in November. The market value of the index represents 5.59% of Nigeria’s GDP.

       For the month of November, the Alpha Bond Index had an Average Weighted Coupon of 13.26% (13.24% in October) and an Average Weighted Maturity of 8.91 years (8.98 years in October).

         In November, the Average Weighted Coupon rate of the Alpha Bond Index came in at 0.72 points (i.e. 28%) below Nigeria’s inflation rate and 0.95 points (i.e.5%) below Nigeria’s interest rate.

         The Yield to Maturity of the index increased from 15.28% in October to 16.09% in November.

         Three bonds in the Alpha Bond Index had coupon payments in November.

Related News
1.      
SF Markets - October 2016 Index Highlights
2.      SF Markets Monthly Index Highlights: September 2016    
3.      SF Markets Monthly Index Highlights: August 2016
4.      SF Markets Monthly Index Highlights: July 2016
5.      SF Markets Monthly Index Highlights: June 2016
6.      SF Markets Monthly Index Highlights: April 2016       
7.    SF Markets Monthly Index Review for March 2016 

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