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Headlines news

PIA timelines seen making Nigeria’s energy projects uncertain

More than one year after enactment, timelines in Nigeria’s Petroleum Industry Act (PIA) are seen to be hurting the oil and gas industry and creating uncertainties among players, Legal energy experts have said. After 20 years of dilly-dallying due to the politics of interest, the Petroleum Industry Act (PIA)…

Investors gain N28bn as market opens September in green

Nigeria’s equities investors gained about N28billion on Thursday September 1, as the market opened the new month in green. Analysts had ahead of market close expected cautious trading to persist in the new month in the absence of any major positive catalyst to drive the market. “Looking ahead to the rest of the…

EFCC arrests Ogun Speaker, Oluomo, over corruption allegations

Olakunle Oluomo, the Speaker of Ogun State House of Assembly was on Thursday picked at the Muritala Muhammed Airport in Lagos State by the Economic and Financial Crimes Commission (EFCC). The Speaker and some other legislative members were before now, accused of financial crimes which invol…

Five chats showing best performing payment options in Nigeria for seven months

Recent data from Nigeria inter-bank settlement scheme (NIBSS) shows the payment options performance indicating their value and volume for seven months on a month-to-month analysis. Here are numbers that indicate the payment options in Nigeria in value and volume N204.5 trillion indicates the..

Japan dangles $30 billion in aid to Africa

The Japanese government has earmarked $30 billion over three years, towards public and private financial contributions to African people and their businesses, Kishida Fumio, the country’s Prime Minister has said. Some of the programmes that would be financed by the initiative the country said will go towards the…

Lower JAMB cut-off marks seen as threat to education

The lowering of the cut-off marks for admission into universities and other higher institutions in Nigeria poses a threat to education in the country as it reflects falling standards in the sector, some stakeholders have said. Examinations are a process of assessing…

How top universities comply with JAMB cut-off mark

The University of Ibadan, Covenant University, Obafemi Awolowo University, University of Nigeria, University of Lagos, University of Port Harcourt, Ahmadu Bello University, Federal University of Technology Akure, Landmark University, and Federal University o

Nigeria faces tough choice of N6trn petrol subsidy in 2023

The Nigerian government has the difficult prospect of spending over N6 trillion on petrol subsidies next year amidst competing needs or removing subsidies and facing the ire of labour and civil society groups while saving the economy.

CBN: Nigeria generated N799bn oil revenue in Q1 2022 — down by 28%

 – The Central Bank of Nigeria (CBN) says the country generated N799.10 billion from oil sector in the first quarter of 2022. Source TheCable Read More

FG Launches Public Tracking Websites For Projects

 – The federal government has formally launched the Presidential Delivery Tracks (PDT) and Central Delivery Coordinating Unit (CDCU) websites to track and monitor government projects across the country. Source Daily Trust Read More

Julius Berger Nigeria Plc to Officially Launch Cashew Processing Plant on September 10, 2022

 – Julius Berger Nigeria Plc (“Julius Berger”), on February 14, 2022, had announced to the Market that the pioneer cashew processing plant located in Epe, Lagos State, Julius Berger’s first Agro-processing activity, Cashew processing. Source NGX Read More

 Fed Govt disburses N471.9b SFTAS to states

 The Federal Government has disbursed N471.9 billion to state governments under the World Bank-Assisted States Fiscal Transparency Accountability and Sustainability (SFTAS) Programme. Source The Nation Read More

Nigeria displaces South Africa as Korea’s biggest African trade partner

 – Nigeria has displaced South Africa as the major trading partner of the Republic of Korea on the African continent, Director, Korea-Africa Foundation, Lyeo Woon-ki has said. Source The Guardian Read More

Oil falls on greater supply, lower China demand

 – Oil prices fell in early Asian trade on Thursday, led lower by increased supply and worries that the global economy could slow further with renewed restrictions to curb COVID-19 in China. Source Reuters Read More

32 states fail to attract investment in Q2

 – Thirty-two states failed to attract capital importation in the second quarter of 2022, according to a Foreign Direct Investment data released by the National Bureau of Statistics on Wednesday. Source Punch Read More

PoS transactions jump to N8tn – NIBSS report

 – The value of Point of Sale transactions in Nigeria has jumped 39 per cent to N8.03tn in 2022, according to data obtained from the Nigeria Interbank Settlement System. Source Punch Read More

NCC Raises, Okays Dollar Payment For Int’l Mobile Calls

 – The Nigerian Communications Commission (NCC), has introduced a new Mobile Voice International Termination Rate (ITR) that favours Nigerian telecom companies up from $.045 to $.10 with effect from September 1, 2020. Source Leadership Read More

Financial Goals: Investment Instruments Versus Life Insurance

 – To invest or not to invest, is that even a question? It’s a well-known fact that when you invest, your money works for you by making you wealthier over time. Investing isn’t entirely about getting rich. Source Coronation Insurance Read More

Investors Gain N28.74bn as NGXASI Inches up by 0.11%; Overnight Rate Contracts by 1.17% to Close at 7.50%; BDC Rate Depreciates to N702

 

  1. EQUITIES MARKET 

 1.1 NGX – Listed Equities

Nigerian Equities Market maintained positive posture as the key market indicator inches up further by 53.29bps while market breadth remained positive.

 

The NGX All-Share Index inched up by 0.11% to close at 49,889.80 basis points as against 0.39% gain recorded to close at 49,836.51 basis points at the end of the previous trading session. In Naira terms, the NGX Market CAP records N28.74bn gain.

 

YTD, the NGXASI Stands at +16.79%

The total volume traded declined by -37.63% to close at 229.12m, valued at N1.75bn and traded in 3,575 deals. STERLNBANK was the most traded stock by volume with 108.69m units traded while GTCO was the most traded stock by value which is put at N680.45m.

Sectoral performance was broadly negative as seven (7) NGX sector index closed northward, eight (8) closed southward while three (3) closed flat. The NGX Industrial Goods Index inched up by 0.99% to top the gainers chart while the NGX MERIGRW Index dipped by 0.91% to top the losers’ chart.

Dangote index closed flat at 128.39 basis points while Elumelu index inched up by 0.04% to close at 108.28 basis points.

At the close of trading, market recorded 13 gainers to 12 losers and 71 unchanged. PHARMDEKO topped the list of gainers while MBENEFIT topped the list of losers.

Thus, market breadth closed positive as the Market Breadth Index (MBI) is put at 0.01x.

Volume and Value Contribution

STERLNBANK led the volume’s chart with 47.44% contribution and closely followed by GTCO and FIDELITYBK

 

GTCO tops the value’s chart with 38.89% contribution and closely followed by MTNN and ZENITHBANK

 

NGX Earnings Summary

No Financial statement was released on the NGX Exchange today.

 

NGX Corporate News

No Corporate News was released on the NGX Exchange today.

 

1.2 NASD OTC Exchange – Unlisted Equities

The NASD market index dipped by 0.42% to close at 762.12 basis points as against 0.24% gain recorded to close at 765.31 basis points

The total volume traded declined by -98.70% to close at 0.122m units valued at N9.11m and traded in 6 deals.

At the close of trading, NASD OTC market recorded one (1) gainer(s) to two (2) loser(s)

NASD Earnings Summary

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

 

NASD Corporate News

No Corporate News was released on the NASD OTC Exchange today.

 

1.3 Global Indices

On the global scene, the Russia MICEX Index leads the top five gainers with 2.40% gain while the Argentina MerVal Index tops the top five losers with -3.85% loss as of 4pm Nigerian Time

 

1.4 African Indices

Similarly, on the African scene, the Ghana GSE Index tops the top five gainers with 1.46% gain while the Namibia NSX Index tops the top five losers with -3.73% loss as of 4pm Nigerian Time

 

 

  1. BONDS AND FIXED INCOME MARKETS

 

2.1 Debt Market Size

The FMDQ Debt Market Size was not available as of the time of finalising this report.

 

2.2 Overnight and Open Repo (OPR)

The overnight lending rate contracted by 1.17% to close at 7.50% while the Open Repo (OPR) rate also contracted by 1.00% to close at 7.00%

 

 

  1. COMMODITIES MARKET

 

3.1 AFEX Indices

The AFEX ACI and AFEX AEI both closed flat.

 

3.2 AFEX Commodity Prices

Soybeans advanced by 6.88% to top the gainers’ chart while Cocoa declined by 0.04% to top the losers’ chart.

 

3.3 Global Commodity Prices

Gold recorded 0.66% loss while Silver also declined by 0.50% as of 11:27 NY time

 

In the energy market, Brent declined by 2.58% while WTI also declined by 2.68% as of 10:28 AM Central Daylight Time (CDT)

 

 

  1. CURRENCY/ FX MARKET

The naira depreciated by 0.13% at the I&E FX Window to close at N430.00/USD while the NAFEX rate also depreciated by 0.09% to close at N428.91

 

 

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