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    Israel and Iran agree on ceasefire – Trump

    Israel and Iran agree on ceasefire – Trump

    Breaking: Iran launches missiles at US bases in the Middle East

    Breaking: Iran launches missiles at US bases in the Middle East

    US military strikes Iran

    US military strikes Iran

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    Yahoo boys launder money for ‘politically exposed persons’ – EFCC boss

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    Trump bans citizens of 12 countries from entering the U.S, full list

    France launches mandatory online visa appointments for travelers

    France launches mandatory online visa appointments for travelers

    Federal Government declares June 6 and 9 public holidays

    Federal Government declares June 6 and 9 public holidays

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    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

    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

    Air Sierra Leone commences flight operations to Lagos

    Air Sierra Leone commences flight operations to Lagos

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    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

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    MTN Nigeria to pay over N200 billion final dividend for 2022

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    Sovereign Trust Insurance Plc grows Profit after tax by 43%  in Q1 2021

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    Legend Internet Plc reports N32.9 million profit for Q1 2025

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    How Donald Trump won the 2024 U.S Presidential Election

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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

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The Banking Sector Drags the Equity Market Bearish .…As NGX-ASI Lost by 0.31%

Tuesday, 17 January 2023, 12:41 am
in Markets, Stocks/Equities
0
Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted
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(Greenwich Merchant Bank): The NGX-ASI closed bearish with a loss of 0.31% to close at 52,348.82 points and N28.51trillion respectively.

The losses recorded in UBA (4.19%), ACCESSCORP (3.76%), ZENITHBANK (3.72%) and WAPCO (3.56%) were responsible for the loss. Thus, YTD, market has returned 2.14%.

However, market activities increased by 5.10% and 43.12% for total volume of trade and Value of trade to close trading at 206.40million units and N22.93 million respectively.

During trading, UBA was the most traded stock by volume with 22.93 million units, while GTCO was the most traded stock by value with a turnover of N482.50million.

Market sentiment was bearish, with a market breadth of 0.90x, emerging from twenty (20) gainers and twenty-two (22) laggers.

The sectoral performance was dominated by losses from Industrial sector (0.18%), Banking sector (3.39%), and Consumer Goods sector (0.08%). But, Oil & Gas sector (0.09%) and Insurance sector (0.39%) posted gains.

Fixed Income Market
Trading activities at the NTBill market today was bearish, thus average yield increased by 7bps to 3.38%.

In the same vein, trading at the Bonds market was bearish across the short and long end of the curve. Hence, average yield increased by 4pbs to 13.26% from 13.22%.

However, trading activities in the OMO space was calm as trading muted across all tenures. Thus, the average yield sustained its closing figure of 3.35%.

At the Money market, the System liquidity dipped by 40.5% to N258.05bn. But, OBB and O/N rates closed, same as the last trading day, at 9.67% and 10.00% respectively.

At the currency market, the Investors & Exporters exchange rate, appreciated by 40bps to close at N461.50/USD.

Ifunanya Ikueze
Ifunanya Ikueze

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

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