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    Agric Commodities Trade among African Nations Gets a Boost by FAO, AU Partnership

    Agric Commodities Trade among African Nations Gets a Boost by FAO, AU Partnership

    Nigeria’s Inflation rate hits16.47%, the highest since May 2017

    Just in: Nigeria’s Inflation rate hits 18.17%, the highest in over four years

    Time Magazine to hold Bitcoin on its balance sheet

    Time Magazine to hold Bitcoin on its balance sheet

    Microsoft Acquires Nuance for $19.7 billion

    Microsoft Acquires Nuance for $19.7 billion

    Bitcoin hits $63K making new all-time high

    Bitcoin hits $63K making new all-time high

    US calls for pause of Johnson & Johnson Covid-19 vaccine after blood clot cases

    US calls for pause of Johnson & Johnson Covid-19 vaccine after blood clot cases

    Microsoft in talks to acquire voice company Nuance for $56 per share

    Microsoft in talks to acquire voice company Nuance for $56 per share

    NITT Set to Unveil Electric Vehicles

    NITT Set to Unveil Electric Vehicles

    China slams Alibaba record $2.8 bn fine in anti-monoploy probe

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    Agric Commodities Trade among African Nations Gets a Boost by FAO, AU Partnership

    Agric Commodities Trade among African Nations Gets a Boost by FAO, AU Partnership

    Nigeria’s Inflation rate hits16.47%, the highest since May 2017

    Just in: Nigeria’s Inflation rate hits 18.17%, the highest in over four years

    Nigeria’s top five export and import partners

    Nigeria’s top five export and import partners

    FG approves 39 licences for fish importation

    Nigeria’s All-Commodity Group Index import rises as export declines

    3 Innovative Products for MSMEs by Devt Bank of Nigeria

    3 Innovative Products for MSMEs by Devt Bank of Nigeria

    NNPC Seals Contract with Tecnimont SpA to Rehabilitate Port Harcourt Refinery

    NNPC Seals Contract with Tecnimont SpA to Rehabilitate Port Harcourt Refinery

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Details of States and FCT domestic and external debt stock

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Exporters to Get N5bn Palliative through the EDF

    Exporters to Get N5bn Palliative through the EDF

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    Current Cryptocurrencies are destined to fail long term – Bank of England Governor

    Cryptocurrencies surge to new highs as Coinbase lists on NASDAQ

    Hybreed weekly Forex Forecast for the week ending 29th March to 2nd April 2021

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    Binance launches stock tokens trade, starting with Tesla

    Binance launches stock tokens trade, starting with Tesla

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    Custodian Investment Plc slumps over 9% after price adjustment

    11 Plc (MOBIL) gives reason and timeline for delisting from NSE

    Market Spotlight: Suspension of trading in the shares of 11 Plc (MOBIL)

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    Agric Commodities Trade among African Nations Gets a Boost by FAO, AU Partnership

    Nigerian Stock Exchange’s new look (NGX Group): Brand Identity and Website

    Nigerian Stock Exchange’s new look (NGX Group): Brand Identity and Website

    Rothschild Investment Corp acquires 250,000 and 8,000 shares in Grayscale’s ETH and Bitcoin Trusts

    Rothschild Investment Corp acquires 250,000 and 8,000 shares in Grayscale’s ETH and Bitcoin Trusts

    Here is when Seplat will release 2020 full year audited financial results

    Seplat issues notice of 8th AGM, change of company name among agenda

    NITT Set to Unveil Electric Vehicles

    NITT Set to Unveil Electric Vehicles

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    400,000 Hectares of Land to Be Allocated to Agri Investors by Jigawa State Government

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

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

    NEXIM Inaugurates N10b Women & Youth Export Enhancement Facility

    NEXIM Inaugurates N10b Women & Youth Export Enhancement Facility

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    Ethereum breaks above all time high in a bullish channel.

    Ethereum breaks above all time high in a bullish channel.

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    Ripple confirms wedge break out targets 0.635 and 0.767

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    RIPPLE(XRP) BREAK OUT COULD BE IN THE WORKS

    Hybreed weekly Forex Forecast for the week ending 29th March to 2nd April 2021

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    Advocating for Nigerian Media Monitoring and Measurement Association (NiMMA)

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Equity Market Weekly Review: Bearish Sentiment Persists, Banking Sector Gains for the Week

Sunday, 21 March 2021, 8:35 am
in Markets, Stocks/Equities
0
Total transaction on the Nigerian Bourse declined by 13.7% MoM
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(Greenwich Merchant Bank): The bears held sway in the local bourse, as stocks dropped for a seventh (7th) consecutive week. Thus, the All-Share Index and Market Capitalization edged lower by 69bps Week-on-Week (WoW) to 38,382.39 points and NGN20.1tn, respectively. Similarly, the Year-to-Date (YtD) return sunk to -4.7%.

Activity level was uneven given that the volume of units traded increased by 44.7% to average 468.4mn units, while the market turnover slipped 6.5% to NGN3.9bn on average. ETERNA rode to the top of the gainers’ chart as its share price gained 20.8% WoW to NGN5.58 per unit. In the week, the Company gave notice to the investing public of its Board of Directors meeting, holding on Tuesday, March 23rd, 2021 to consider the Company’s 2020 Audited Financial Statements. NEIMETH, on the other hand, declined by 14.8% to NGN1.78. Across sectors, the performance in the week varied; the Banking (2.1%) and Oil & Gas (1.6%) indexes closed positive, in contrast with the decline in the Industrial Goods (-2.6%) and Consumer Goods (-1.5%) sectors. The Insurance space, however, closed flat.

Read: Kaduna Inland Dry Port Limited Set for Export Operations

The bearish run in the equities market continued for the seventh (7th) week in a row, even as the positive performance of banking counters failed to lift the mood in the bourse. As a result, the year-to-date return dropped to its lowest in twenty-four (24) weeks at -4.7%. We maintain our view that, corporate earnings published for FY:2020 have so far not excited the market, amid an upward repricing of instruments in the fixed income space. Next week all eyes will be on the Monetary Policy Committee (MPC) which, in our view, should keep the benchmark rate (MPR) unchanged. On the balance, we expect the equities market to trade range-bound next week.

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Nigerian Stock Exchange’s new look (NGX Group): Brand Identity and Website

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