Headlines news – First Ideas Limited

Headlines news

Investors Lose N196.39bn as NGXASI Dips by -0.69%; Debt Market Size Grows by +0.04% to Close at N27.86trn; IEFX Rate Depreciates to N420.50

1.1 NGX – Listed Equities
Nigerian Equities Market dipped further to close in the red zone as sell pressure persists.

The NGX All-Share index dipped by -0.69% to close at 52,411.09 basis points as against -0.64% loss recorded at the end of the previous trading session. In Naira terms, the NGX Market CAP records N196.39bn loss
YTD, the NGXASI Stands at +22.70%
The total volume traded advanced by +12.51% to close at 211.61m, valued at N2.37bn and traded in 4,750 deals. STERLNBANK was the most traded stock by volume with 63.66m units traded while ZENITHBANK was the most traded stock by value which is put at N382.57m.
Sectoral performance was broadly negative as four (4) NGX sector index closed northward, ten (10) closed southward while four (4) closed flat. The NGX Pension Index inched up by +0.05% while the NGX Main Board Index dipped by -1.23% to top all sector indices otherwise.
Gote index closed flat at 144.30 basis points while Toni index closed red with -0.07% loss recorded to close 114.60 basis points.
At the close of trading, market recorded 10 gainers to 22 losers and 68 unchanged. LINKASSURE topped the list of gainers, CONOIL topped the list of losers. Thus, market breadth closed negative as the Market Breadth Index (MBI) is put at -0.18x.
Volume and Value Contribution
STERLNBANK led the volume chart with 30.08% contribution and closely followed by ZENITHBANK and UBA.

Source: NGX

ZENITHBANK led the value chart with 16.17% contribution and closely followed by AIRTELAFRI and MTNN.

Source: NGX

NGX Earnings Summary
No Financial statement was released on the NGX Exchange today

NGX Corporate News
Eterna Plc further to its earlier notification on its forthcoming AGM announced the links to the media platforms through which it 29th AGM will be streamed. The AGM holds today June 16, at 11:00am.

1.2 NASD OTC Exchange – Unlisted Equities
The NASD market index inched up marginally by +0.01% to close at 764.51 basis points as against -0.22% loss recorded previously.
The total volume traded inched up by +307.94% to close at 3.18m units valued at N25.79m and traded in 5 deals.
At the close of trading, NASD OTC market recorded 1 gainer(s) to 1 loser(s)

Volume and Value Contribution
SDCITITRUST led the volume chart with 94.44% contribution
SDCITITRUST led the value chart with 72.71% contribution

NASD Earnings Summary
No Financial statement was released on the NASD OTC Exchange today.

NASD Corporate News
FRIESLANDCAMPINA WAMCO NIGERIA PLC announce today announced its 46th AGM and a dividend declaration of N6.81k
1.3 Global Indices
On the global scene, the Russia MICEX Index leads the top five gainers with 1.93% gain while the Austria ATX Index tops the top five losers with -4.50% loss as of 4pm Nigerian Time

1.4 African Indices
Similarly on the African scene, the Namibia NSX Index tops the top five gainers with 2.89% gain while the Zimbabwe Index tops the top five losers with -2.07% loss as of 4pm Nigerian Time


2.1 Debt Market Size
The FMDQ Debt Market Size advanced by 0.04% to close at N27.86trn from previous figure of N27.86trn

2.2 Overnight and Open Repo (OPR)
The overnight lending rate closed flat at 14.00% while the Open Repo (OPR) rate also advanced by 0.08% to close at 13.83%

3.1 AFEX Indices
The ACI inched up by 1.40% to close at 472.17 basis points as against previous figure of 465.66 while the AEI dipped by -1.07% to close at 192.73 basis points as against previous figure of 194.82 basis points.

3.2 AFEX Commodity Prices
Maize advanced by 3.39% to top the gainers chart while Soybeans declined by 0.22% to the losers’ chart.

3.3 Global Commodity Prices
Gold recorded +0.57% gain while Silver also advanced by +0.14% as of 11:38 NY time

In the energy market, Brent declined by 0.60% while WTI also declined by 0.10% as of 10:36AM Central Daylight Time (CDT)

Source: Oilprice.com, Goldprice.org

The naira depreciated at the I&E FX Window by 0.12% to close atN420.50/USD while the NAFEX rate also depreciated by 0.10% to close at N418.68.

Source: FMDQ, BDC

Headline Inflation Increases by 17.71% YoY in May 2022 as Food Inflation Rises by 19.50%
In May 2022, the inflation rate increased to 17.71 percent on a year-on-year basis. This is 0.22 percent points lower compared to the rate recorded in May 2021, which is (17.93) percent. Source NBS Read More
As FG Borrows to Pay Salaries, Minister, Others Blame Petrol Subsidy
Speaking at a retreat for the Technical Sub-committee on Cash Management (TSCM), the acting AGF said “We have to borrow to augment our salaries. We are in a very difficult time. Government income is highly challenged.” Source Daily Trust Read More
Diesel Price May Hit N1,500/litre, 75% Filling Stations Closed – Marketers
About 75 per cent of filling stations across the country are currently out of business due to their inability to purchase diesel required to power their tankers and transport Premium Motor Spirit, popularly called petrol, to their various outlets, oil marketers stated on Tuesday. Source Punch Read More
Dangote Sugar Refinery Restates Commitment to FG’s Backward Integration Policy
Dangote Sugar Refinery Plc has restated its commitment to the achievement of Sugar Backward integration projects, describing it as the best thing that happened to the sector. The dividend pay-out of N12.147 billion for the year was unanimously approved by the shareholders. The dividend represents N1.00 per share. Source Dangote Sugar Refinery Read More
Airlines to Shut Down Operation as Jet A1 Hits N714
The Airline Operators of Nigeria (AON), yesterday, said three airlines would shut down operation due to the rising cost of aviation fuel, also known as, Jet A1. Source LeadershipNG Read More
Nigeria, 6 Others Drop in Crude Oil Production – OPEC Report
The Organisation of the Petroleum Exporting Countries (OPEC), has released a fresh report on crude oil production of its member countries, indicating that six countries increased their c output while seven countries recorded a decline in production. Source SUN News Online Read More
NERC to Commence NMMP Phase 1 by August, commits to Improved Electricity
The Nigeria Electric Regulatory Commission (NERC) has stated it plans to ensure power supply hits 5000 megawatts in July, just as the first phase of the National Mass Metering Programme (NMMP) is set to commence by the end of August 2022. Source The Guardian Nigeria Read More
Microsoft Shuts Down Internet Explorer – 27 Years After Launch
Microsoft, an American multinational technology company, has shut down its web browser – the Internet Explorer (IE). This development comes 27 years after it was launched. The company announced this on its website on Wednesday. Source TheCable Read More
NIN Enrolments Reached 82.74m in May Lagos State Tops List with 9.48m
The cumulative enrolment figures for the National Identification Number (NIN), recorded by the National Identity Management Commission (NIMC) as at May 2022, reached a high peak of 82,738,152, up from 78 million recorded in March 2022. Source THISDAYLIVE Read More
Gozem Secures $10m from IFC to Finance 6,000 Vehicles in Togo and Benin
12 million. That’s the estimated number of motor vehicle drivers that Gozem, a Francophone Africa-focused super app, says operate in informal markets across West and Central Africa. Source TechCabal Read More
The numbers that show outsized role of oil in Nigeria’s economy
In the first quarter of 2022, Nigeria’s oil and gas sector led in volume and value of imports and exports, accounting for nearly 88 percent of all exported goods and about 30 percent of total imports, according to a new report by the National Bureau of Statistics (NBS).
How FG’s NITDA may affect Nigerians’ rights to free speech and privacy
Nigeria’s National Information Technology Development Agency (NITDA) on Tuesday issued a Code of Practice intended to guide the activities of social media companies in the country. In a statement shared via Twitter, the agency explained that the “Code of Practice for Interactive Computer Service Platforms/Internet..
Energy transition in peril as govts spend $18trn on fossil fuel subsidies in 2yrs
Despite the promise of a worldwide green recovery in the wake of the COVID-19 pandemic, governments around the world spent $18trillion on fossil fuel subsidies between 2018 and 2018 a figure that dwarf record growth in renewables within this period, a new report tracking renewable energy report..
Nigeria’s 17.7% inflation raises concerns over food security
The inflation rate in Nigeria accelerated in May to its highest level in 11 months, official data released on Wednesday show, with the International Monetary Fund (IMF) and economic analysts in the country saying the price growth raises concerns over food security.
Real estate shows resilience amid high building materials costs
Nigeria’s real estate sector has shown resilience as its growth accelerated by 4.44 percent in the first quarter of this year amid rising building material costs and headwinds in the economy reflected in galloping inflation, high interest rate and volatile exchange rate.
Banks’ domestic credit jumps 169% in seven years
Nigerian banks have maintained steady growth in net domestic credit as the growth rate peaked in April this year, data from the Central Bank of Nigeria (CBN) show. Banks’ net domestic credit grew by 169.3 percent to N53.6 trillion in April 2022, compared with N19.9 trillion in April 2015.
Global peace falls to lowest level in 15 years
The Global Peace Index has revealed that the average level of global peacefulness deteriorated by 0.3 percent in 2021, the lowest level in 15 years. This is the eleventh deterioration in peacefulness in the last fifteen years, with 90 countries improving, and 71 deteriorating

About the Author


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.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may also like these