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    Wike describes Seyi Makinde as chief architect of PDP problems

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

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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

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

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    The Frontier Fund unit holders to get N17 per unit distribution

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    Dangote Refinery reduces petrol price by N15 nationwide

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    DMO offers N300 billion FGN bond for auction in May

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    Alhaji Dahiru Mangal sold his 1.96bn Oando Shares for N11.81bn

    NGX RegCo suspends Trading of Oando Plc shares

    NGX RegCo approves Livingtrust Mortgage Bank’s free float compliance plan

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    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

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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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The local bourse continues to decline… As Year-to-Date fell to 17.49%

Wednesday, 27 July 2022, 11:08 pm
in Markets, Stocks/Equities
0
Equity Market turns bearish… As Value Traded Spikes by 409.01%
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(Greenwich Merchant Bank): The Nigerian equities market suffers further decline as the NGX-ASI and market capitalisation recorded a 0.50% fell to 50,188.55 point and 27.06 trillion respectively. ACCCESSCORP (4.49%), GTCO (3.92%), ZENITHBANK (1.90%) and MTNN (1.30%) contributed to the decline
witnessed. Consequently bringing the Year-to-Date down to 17.49%.

Sentiment in the market remained positive as volumes traded surged by 431.17% (829.51 million units) while the total market turnover
increased by 39.79% (NGN4.105.03 million). TRANSCORP had the highest volume traded while MTNN was the highest value traded
equity. Market breadth showed no significant difference at 0.09x with three (3) gainers and thirty-three (33) laggers.

Sectoral performance was broadly bearish as the Banking sector (2.34%), Industrial sector (0.04%), Insurance sector (1.10%) and Oil & Gas sector (1.07%) all recorded losses while Consumer Goods sector (1.27%) ended the day as the sole gainer.

Fixed Income Market
Sell offs at the short side of the Bond market drove average yields up by 5bps to settle at 12.25% from 12.20%.

Also, yields in the Nigerian Treasury bills and OMO market increased across all instruments listed in both markets driving average yield up
by 19bps and 29bps to close at 7.22% and 9.04% respectively. 8-Jun-23 instrument emerged as the most sold in the NT-bills market while the 7-Mar-23 instrument had the highest increase of 41bps in the OMO market.

Open Buy Back rate reduced by 0.25% to close at 15.00%, while the overnight rate closed at 15.00% once again.

The exchange rate at the Importers & Exporters Window had a slight decline of NGN1.00/USD, appreciating to NGN430.00/USD

Ifunanya Ikueze
Ifunanya Ikueze

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

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