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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

    APGA candidates win Anambra by-elections

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

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

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    President Buhari commissions the new US$100m Ultra-modern MMIA Terminal

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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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    • All
    • Budgets
    • Economic Data
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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

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    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

    NNPC and Partners to build first methanol plant in Nigeria

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    International Energy Insurance Plc announces full and final repayment of JPY1.85 billion Coupon Bonds due 2028

    AIICO Board of Directors approve Dividend Payment and  2021 Financial Statements

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    International Energy Insurance Plc calls an emergency Board meeting

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    Augusto & Co. upgrades Globus Bank Limited’s rating to A and A1

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

    Again DMO offers N360 billion FGN bond for February

    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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    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

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    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

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Equity Market Extends Its Winning Streak… As NSE-ASI Gains by 16.90%

Thursday, 29 December 2022, 6:27 am
in Markets, Stocks/Equities
0
Nigeria’s GDP grows 5.01% YoY in real terms in Q2 2021
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(Greenwich Merchant Bank): The Local bourse extends its wininng streak, as the Nigerian equity market closed positively at 0.46% with the ASI and Market Cap settling at 49,934.60 points and NGN 27.19 trillion respectively. This attributed to the increase in the prices of GEREGU (9.96%), WEMABANK (9.94%), ROYALEX (9.09%) and CHIPLC (8.33%). Consequently, YTD now stands at 16.90%.

Alternatively, volume traded for the day increased by 251.32% while value traded declined by 6.48% to settle at 492.97 million units and NGN 3.75 billion respectively. VERITASKAP emerged the highest volume traded with 348.54 million units while GEREGU traded the highest turnover with NGN1,025.41 million. Market sentiment was balanced as market breadth came out at 5.40x, indicating twenty-seven (27) winners and five (5) laggers.

Performance across sectors were dominated by gains as the Banking (1.38%), Insurance (1.37%) and Consumer Goods (1.07%) sectors recorded gains at the end of the trading day, whereas Insurance (0.00%) and Consumer Goods (0.00%) closed flat.

Fixed Income Market
In the NT-bills Market, the average yield moved lower to 5.44% from 5.34% with yields across the curve falling 10bps from its previous day figure. Moving on, system liquidity declined to NGN364.393billion from a positive balance of NGN747.904billion.

Thus, the Open Buy-back and Over-night rates fell to 10.75% and 10.83% from 12.00% and 12.75%. Also, in the OMO market, the average yield remained at 4.62% for the second consecutive session as trades across tickers were mostly flat.

Elsewhere, yields in the Bond market dropped lower by 4bps to peg at an average of 13.32%. The bullish close mirrored buy-offs across the short (+5bps), mid traded flat and long (+48bps) segments of the market. We note that the 18-MAR-2036 instrument (+48bps) was the most sold.

Naira at the CBN Official Spot rate and Investors’ and Exporters’ Window (I&EW) stood at NGN461.33/USD and NGN461.33/USD respectively.

Ifunanya Ikueze
Ifunanya Ikueze

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

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