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    Suspected herdsmen ambush Benue policemen, kill DPO

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    Nigerians will soon know the “actual truth” about Atiku – Gov Wike

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    PDP condemns Tinubu’s ‘sponsored’ attack on Buhari in Kano

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    DSS intercepts syndicates selling new naira notes, bank officials implicated

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    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    FG explains why Nigeria’s total debt will rise to N77 trillion by the end of May 2023

    U.S unemployment fell to a five-decade low

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

    Nigeria’s total debt rise above N44 trillion – DMO

    FG approves 39 licences for fish importation

    Q3 2022: Nigeria’s total trade stood at N11.6 trn, total export falls nearly 20% QoQ

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    JUST IN: CBN limits weekly cash withdrawal to N100k

    Law to legalize crypto as a payment method passed in Brazil

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    Will Nigerians in diaspora be committing an offence if they make a campaign donation?

    Rivers and Oyo State to join others in establishing small claims courts

    Non-oil sector contributes 93.67% to Nigeria’s GDP in Q2 2022

    Nigeria’s GDP growth slows to 2.25% in Q3 2022, oil sector contribution declines further

    Buhari to unveil new naira notes Wednesday — no longer Dec 15

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    • Policies
    • Budgets
    • Economic Data
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    Equity Market turns bearish… As Value Traded Spikes by 409.01%

    The Local bourse Closed The Week Bearish… As the NGX-ASI fell by 0.18%.

    Local Bourse closed in Bullish Territory… As NGX-ASI at 0.31%

    NGX-ASI Turns Bullish…As Oil & Gas sector closed at a Gain of 1.58%

    The Okomu Oil Palm Plc announces N7.00 interim dividend for H1 2022

    Local Bourse Records 2nd Day Loss…… As NGX-ASI Decreases by 0.02%

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    2023 Bible Lessons on Setting your Financial/Investment Goals

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    37 years between the Buhari regimes… Economic lamentations remain the same

    37 years between the Buhari regimes… Economic lamentations remain the same

    FACT CHECK: Did Buhari inherit lowest oil production as Tinubu claims?

    FACT CHECK: Did Buhari inherit lowest oil production as Tinubu claims?

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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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