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    All diaspora remittances must be received by beneficiaries in foreign currency only – CBN

    UH Real Estate Investment Trust to distribute N5.05 per unit to unit holders

    Canceling Keystone XL pipeline cost thousands of jobs, billions of dollars – Biden Administration

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    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

    FG increases private university application fee from N5m to N25m

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Equity Market Closes at a Loss… As NGX-ASI Declines by 0.69%

Wednesday, 7 September 2022, 8:25 am
in Markets, Stocks/Equities
0
FY 2020: Zenith Bank Plc rakes in N230.6 billion profit after tax
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(Greenwich Merchant Bank): Continuous losses were recorded in the equity market as market capitalization and NGX-ASI declined by 0.69% to 49,644.92 points and NGN26.78billion naira respectively. This was attributed to the decrease in price of NGXGROUP(4.76%), ZENITHBANK (3.57%), AIRTELAFRI (1.96%), FBNH (1.87%) and STANBIC (1.56%). Subsequently, Year-to-Date dropped to 16.22%.

On the other hand, market sentiment was bearish as volume depreciated by 30.84% (138.95 million units) while value traded appreciated by 88.49% (NGN2,725.22 million) respectively. STERLNBANK (18.30 million units) retained the position as the highest volume traded for 5 consecutive trading days while MTNN (NGN656.89million) stood as the highest traded value for 3 consecutive days .

Market breadth was negative at 0.61x owing to eleven (11) gainers and eighteen (18) laggers. The Banking sector (1.33%), and Insurance sector (0.06%) recorded gains while Consumer Goods sector (0.16%), and Industrial Sector (0.04%) closed with a loss. The Oil & Gas sector(0.0%) closed flat.

Fixed Income Market
Mixed sentiments pervaded the Bond market with attention on four instruments. The bears overshadowed the market, driving average yield to 13.16% from 13.14%.

Calm mood persisted in the NT-bills and OMO market, with little or no activities seen across the curve. Average yield maintained status quo at both markets to settle at 7.82% and 11.15% (NT-bills market,

OMO market), same with yesterday`s figure. System liquidity declined by 44.22% to close at NGN66.07billion from NGN112.41billion. On the other hand, the Open Buy Back and Overnight rate ended the day at 12.33% and 12.83% from 12.67% and 13.17%.

Naira depreciated further to NGN436.00/USD from NGN434.75/USD at the Investors and Exporters Window.

Ifunanya Ikueze
Ifunanya Ikueze

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

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