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    UK Court awards £20m Damages in favour of Nigeria against P&ID

    FG, States, LGs share ₦2.00 Trillion for month of July 2025

    SEC warns against investing with GVEST Global’s illegal schemes

    SEC warns against investing with GVEST Global’s illegal schemes

    Only 23% of Nigerians trust INEC- Report says

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    US deficit grows to US$291 billion in July – Reports

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    Conoil Plc reports 88.8% drop in profit to N900 million in H1 2025

    Brent crude oil price rise above $70 on OPEC projections

    OPEC+ agrees to increase oil production for September

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    “CBN plans to shut down financial transactions” – Apex Bank warns of fake news

    CBN’s Monetary Policy Committee retains interest rate at 27.50%

    President Tinubu approves establishment of South-East Investment Company

    President Tinubu approves establishment of South-East Investment Company

    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

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    CBN ends free ATM withdrawals for other banks’customers

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    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

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    Shareholder’s resolutions at Guaranty Trust Bank’s Annual General Meeting

    GTBank gets ₦365.85 billion capital injection, meets new minimum capital requirement

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    Beta Glass Plc Shareholders to be presented with a N1.04 dividend for 2020

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    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

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    DMO offers N300 billion FGN bond for auction in May

    NGX Daily Equities Market Report: Market gains for third consecutive days

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Bearish sentiment drags NGX YTD down to 20.19%… as the ASI drops 0.10%.

Thursday, 14 July 2022, 11:57 pm
in Markets, Stocks/Equities
0
Equity Market turns bearish… As Value Traded Spikes by 409.01%
Share Share Share Share Send as Email

(Greenwich Merchant Bank): The Nigerian Equity market witnessed another decline driven by losses in the share prices of INTBREW (5.17%), ZENITHBANK (1.56%), ACCESSCORP (0.54%) and WAPCO (0.38%) which resulted in the NGX-ASI and market capitalisation losing 0.10% of its value to settle at 51,339.01 points and NGN27,685.05 million respectively. As a result, the Year-ToDate also dropped lower to 20.19%.

Market activity was bearish as volume traded decreased by 41.95% (115.41 million units) and value traded also declined by 44.77% (NGN1,205.92 million). TRANSCORP had the highest traded volume while ZENITHBANK ended the day with the highest market turnover. Market breadth however was bullish at 1.56x owing to fourteen (14) gainers and nine (9) losers.

Sectoral performance was weak as activities recorded across sectors was marginal. Banking sector (0.007%) and Consumer Goods sector (0.009%) closed in red while Insurance sector rose by 0.006%. Oil and Gas sector
(0.00%) and Industrial sector (0.00%) remained unchanged.

Fixed Income Market
The Bond market weakened for the second trading day as the average yield of instruments traded increased by 7bps to 11.74% from 11.66% propelled by further trading on the 27 April 2023 instrument which shed
another 65bps.

Trading in the N-Tbills market was largely quiet with the 26 January 2023 being the only actively traded instrument which increased by 71bps pushing the overall yield to 7.16% from 7.09%.

System liquidity retained a positive balance increasing by NGN83.06 million to NGN19.27 billion from NGN18.45 billion. However, this was not sufficient to the move the OBB and Over night rates which stood at
13.83% to 14.00%.

The Naira depreciated by NGN 0.05 at the Investors’ and Exporters Window (I&EW) to close at NGN 424.63/USD from NGN424.58/USD.

Ifunanya Ikueze
Ifunanya Ikueze

Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.

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