SF Markets Monthly Index Review for March 2016

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Tuesday, April 05, 2016 3:25 PM / ScottfreeMarkets.com

This month, we initiate our coverage for the SF Markets equity and fixed income indices – highlighted below for the month of March.  

Kindly download/view the month-end factsheets fof the indices under reference. 

We hope this can be a valuable source to you, giving a comprehensive overview of how the Nigerian markets (both equity and fixed income) have performed over the last month.  

View or Download the Indices here 

SF Markets: March 2016 Index Highlights

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. 

 

·         Barring the Mid Cap 40 index, all the other (NGN) equity indices had negative returns over the month of March with the SFNG Blue-Chip 30 Index returning -1.89%. The SFNG Mid Cap 40 and SFNG Small Cap indices returned 0.95% and -0.08% respectively.

·         Currency Indices: The SFNG Blue-Chip 30 Index (USD) and the SFNG Blue-Chip Index (EUR) returned -1.87% and -6.46% respectively in March.

·         Volatility for the SFNG Blue-Chip 30 Index (Large Cap stocks) in March was at 19.99% (up from 17.13% in February).

·         The SFNG Total Share Index (representing 99.5% of the Nigerian equity market) had a 3.04% increase in total market capitalisation from NGN 8.40trn (Feb) to NGN 8.66trn (Mar) while the free-float market capitalisation for the index decreased by 0.53% from NGN 2.98trn (Feb) to NGN 2.96trn (Mar).

·         The 6 month Average Daily Traded Value (ADTV) for the SFNG Total Share Index continued its downward trend in March, with a recorded figure of NGN 2.40bn (a decrease from NGN 2.68bn in February).

·         8 companies in the SFNG Total Share Index paid dividends in March compared to the 1 paid in February. This resulted in the dividend yield for the index increasing from 3.63% in February to 4.13% in March.

   

·         The Alpha Bond Index returned 0.55% in March with the Alpha Bond Index (USD) displaying slightly higher returns at 0.57%.

·         Volatility for the Alpha Bond Index was at 7.24% (up from 5.74% in February).

·         The market value of the Alpha Bond Index increased by 0.27% from NGN 5.50trn (Feb) to NGN 5.52trn (Mar). The market value of the index represents 4.85% of Nigeria’s GDP.

·         The Alpha Bond Index had an Average Weighted Coupon of 13.40% in March (13.37% in Feb) and an Average Weighted Maturity of 8.60 years in March (8.79 years in Feb).

·         With both interest and inflation rates spiking up lately, the Average Weighted Coupon rate of the Alpha Bond Index came in at 1.18 points (i.e. 18%) above Nigeria’s inflation rate and 1.12 points (i.e. 12%) above Nigeria’s interest rate.

·         The Yield to Maturity of the index increased from 11.66% in February to 11.72% in March. 

View or Download the Indices here  

 

 

 

 

 

 

 

If you have any questions or need additional information, please do not hesitate to contact :

Scottfree Markets: Amonire Rewane

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Email:arewane@scottfreemarkets.com   

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