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Investors Gain N226.12bn as NGXASI Inches up by 0.91% to Open the Week Positive

Equities market closed on a positive note, as NGXASI appreciated by +0.91% to close at 46,624.67 basis points as against  +0.43% appreciation recorded previously. Its Year-to-Date (YTD) return currently stands at +9.15%.  

Market breadth closed positive as NCR led 33 Gainers as against 21 Losers topped by UPL at the end of today’s session an unimproved performance when compared with previous outlook.       

Market turnover closed positive as volume moved up by +39.03% as against +12.17% uptick recorded in the previous session. FIDELITYBK, RTBRISCOE and TRANSCORP were the most active to boost market turnover.  NGXGROUP and ZENITHBANK topped market value list.

JOHNHOLT leads the list of active stocks that recorded impressive volume spike at the end of today’s session.

Buhari wants an agrarian economy, but peasantry will keep Nigeria poor

One of the key mantras of President Muhammadu Buhari’s administration is: “We will grow what we eat and eat what we grow.” The aim is self-sufficiency in food production. But the Buhari administration has utterly failed to operationalise that mantra and achieve the goal of food security. 

What Nigeria can do in 18 months to curb inflation, boost economy

It has been almost a decade since the Central Bank of Nigeria alongside monetary authorities/FG have been actively combatting double digit inflation, yet with every policy thrown at it, inflationary pressures just keep rising and eating deep into the country’s economy’s core as well as the purchasing power of individual households

 

 

MTN is here to stay, share wealth with more Nigerians

Nigeria is the largest market of MTN, the pan-African telco company – it has 68.5 million subscribers, 34.3m active data users, 9.4m fintech subscribers. In an exclusive interview, RALPH MUPITA, Group CEO of MTN, and KARL TORIOLA, CEO, MTN Nigeria, outline their plans to create shared value, as it grows

18 months delay of petrol subsidy will dent fresh investment- oil marketers

The decision of the Federal Government (FG) to extend the implementation of the removal of subsidy on Premium Motor Spirit (PMS) by 18 months will adversely affect investments in Nigeria’s downstream sector, the Major Oil Marketers Association of Nigeria (MOMAN) said.

Soludo calls for paradigm shift towards leadership, governance

Charles Chukwuma Soludo, governor-elect of Anambra State, has called for a paradigm shift in mindset among Nigerians and political leaders toward governance and leadership for the country to attain its potential. Soludo, a former governor of the Central Bank of Nigeria (CBN) made the call Saturday.

NGX Lists New and Supplementary FGN Bonds Issued in January 2022

The January 2022 Issue of the Federal Government of Nigeria (FGN) Bonds were listed on the Nigerian Exchange Limited on 27th January, 2022.

Below are the details of the Bonds:

Activity Level Declines in December 2021 on Reduced Local and Foreign Investors’ Participation

Based on the recently released NGX Domestic & Foreign Investment report for December 2021, the total value traded on the local bourse declined by 19.3% m/m to N158.3bn (US$363.8m) in December from N196.1bn (US$472.5m) in November. Similarly, since the local bourse lacked the visit of a Santa Claus rally in December, the broad equity index, All Share Index (ASI), returned a 2.1% m/m loss in December, despite the YTD gain of 6.1% at year-end. The decline in total transaction value was broad-based as both the domestic (-2.9% m/m) and foreign investors (-49.2% m/m) reduced activity level, with the latter shedding more weight than the former.

 Institutional investors still largely dominated transactions at the domestic front, trading higher by 5.1% m/m to N85.2bn (US$195.9m) in December. Despite the marginal increase, total domestic transaction value was down 2.9% m/m to N122.9bn (US$282.6m) as the retail investors significantly reduced participation on the local bourse by 17.1% m/m to N37.7bn (US$86.8m). On the other hand, foreign investors have been net sellers of Nigerian equities for most of 2021, retaining apathy towards Nigeria  risky assets. From a net outflow position of N3.3bn (US$8.0m) in November, it grew to N4.4bn (US$10.1m) in December, a fallout of higher foreign outflows of N19.9bn (US$45.7m) compared with inflows of N15.5bn (US$35.5m).

 Looking ahead, 2022 began the year on a positive note as the euphoria that met the newly listed BUA Foods Plc spurred activities in the local bourse. Currently, the YTD gain stands at 8.2%, which is likely to maintain an upward trajectory in the short term. In our view, the ongoing release of favourable full-year numbers accompanied by dividend declarations will propel buying activities.

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First Ideas Limited is an investment and financial advisory company established in 1994 to provide advisory services to high net worth individuals, trust funds, financial institutions and medium sized companies in growth sectors.

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