Headlines news for the day – First Ideas Limited

Headlines news for the day

Investors Lose N18.99bn as NGXASI Dips by 0.07%; Overnight Rate Expands by 0.66% to Close at 10.83%; IEFX Rate Depreciates to N436.50

 

  1. EQUITIES MARKET 

1.1 NGX – Listed Equities

Nigerian Equities Market maintained negative posture to open the week in the red zone as the key market indicator dipped further by 35.21bps amid flat market breadth.

 

The NGX All-Share Index dipped by 0.07% to close at 49,440.21 basis points as against 0.13% loss recorded previously to close at 49,475.42 basis points at the end of the last trading session. In Naira terms, the NGX Market CAP records N18.99bn loss.

 

YTD, the NGXASI Stands at +15.74%

The total volume traded declined by -37.33% to close at 67.37m, valued at N1.48bn and traded in 3,386 deals. FBNH was the most traded stock by volume with 9.67m units traded while SEPLAT   was also the most traded stock by value which is put at N615.12m.

Sectoral performance was broadly negative as ix (6) NGX sector index closed northward, seven (7) closed southward while five (5) closed flat. The NGX MERIVAL Index inched up by 0.50% to top the gainers chart while the NGX Oil and Gas Index dipped by 1.94% to top the losers’ chart.

Dangote index closed flat at 128.26 basis points while Elumelu index advanced by 1.66% to close at 107.66 basis points.

At the close of trading, market recorded 11 gainers to 11 losers and 78 unchanged. ETRANZACT topped the list of gainers while ABCTRANS topped the list of losers.

Thus, market breadth closed flat as the Market Breadth Index (MBI) is put at 0.00x.

Volume and Value Contribution

FBNH led the volume’s chart with 14.36% contribution and closely followed by ZENITHBANK and GTCO

 

SEPLAT tops the value’s chart with 41.56% contribution and closely followed by ZENITHBANK and GTCO

 

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 inched up by 0.08% to close at 741.70 basis points as against flat position recorded to close at 741.08 basis points

The total volume traded advanced by 148.80% to close at 25.03m units valued at N135.19m and traded in 11 deals.

At the close of trading, NASD OTC market recorded three (3) gainer(s) to zero (0) 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 USA Nasdaq Index leads the top five gainers with 0.69% gain while India Nifty Index tops the top five losers with -1.94% loss as of 4pm Nigerian Time

 

1.4 African Indices

Similarly, on the African scene, the Lusaka All Share Index tops the top five gainers with 0.94% gain while the Zimbabwe All Share Index tops the top five losers with 3.78% 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 expanded by 0.66% to close at 10.83% while the Open Repo (OPR) rate also expanded by 0.66% to close at 10.33%

 

 

  1. COMMODITIES MARKET

 

3.1 AFEX Indices

The AFEX ACI and AFEX AEI were not available as of the time of finalising this report

 

 

3.2 AFEX Commodity Prices

Cocoa advanced by 4.87% to top the gainers’ chart while Paddy Rice declined by 5.38% to top the losers’ chart.

 

3.3 Global Commodity Prices

Gold recorded 0.17% loss while Silver also declined by 0.97% as of 11:48 NY time

 

In the energy market, Brent declined by 0.39% while WTI also declined by 0.92% as of 10:49 AM Central Daylight Time (CDT)

 

 

  1. CURRENCY/ FX MARKET

The naira depreciated by 0.06% to close at the I&E FX Window at N436.50/USD while the NAFEX rate also appreciated by 0.03% to close at N435.53

 

Nigeria’s Oil Production Crashes to 900,000b/d

– Nigeria’s crude oil revenue has continued to slump as the Organization of the Petroleum Exporting Countries’ newly released Monthly Oil Market Report for September revealed that the country’s crude oil output fell to 900, 000 barrels per day (b/d) last month. Source Punch Read More

FG Secures Pipelines With N12.43bn, Pays IOCs $4bn

 The Federal Government has so far paid $4.04bn to five international oil companies as cash call arrears repayment and has spent N12.43bn this year on pipeline protection and maintenance, it was learnt on Sunday. Source Punch Read More

Red Line to Begin Operations Q1, 2023 – LAMATA

– The Managing Director, Lagos Metropolitan Area Transport Authority, Abimbola Akinajo, has said the Lagos Rail Mass Transit Red Line rail system will carry its first passenger in the first quarter of 2023 when it is projected to commence passenger operations. Source Punch Read More

Banking Sector’s Equity Market Performance Year-to-Date 2022: A Tale of Mixed Fortunes

 The Nigerian Banking sector started the year positively with the NSE Banking Index rising to 0.79% at the end of Q1 2022. Analysts note that this occurred at a time the Central Bank of Nigeria’s (CBN’s) Monetary policy Rate (MPR) was 11.5% in Q1 2022 with inflation settling at 15.92%. Source Proshare Research Read More

 

 

We Are Well-Positioned to Meet Africa’s Banking Needs – UBA CEO

– The Group Managing Director/Chief Executive Officer, United Bank for Africa (UBA) Plc, Oliver Alawuba, has said that the bank’s consistent investment in strengthening its digital channels have been paying off as UBA is well-positioned to meet the growing demand of its customers across Africa and beyond. Source UBA Read More

CWG Celebrates 30 Years of Positioning Africa, Rolls out Future Agenda

 CWG Plc, the Pan-African systems solutions company, is celebrating 30 years of providing Information Technology (IT) services in Nigeria, Africa and the rest of the world, with strong promise to offer emerging technology solutions and services in the next phase of its operations. Source CWG Plc Read More

MPR Hike: 13 Banks Generates N2.04trn Interest from Customers Loans, Securities Investment

 – A total of 13 banks generated N2.04trillion interest from customers loans, Securities investments, among others in first half year ended June 30, 2022 on the back of Central Bank of Nigeria (CBN) hike in the Monetary Policy Rate (MPR) to 13 per cent as at June from 11.5 per cent in January 2022. Source ThisDay Read More

RT200 policy attracting more export commodities – CBN

 The Central Bank of Nigeria (Plc) at the weekend, disclosed that its RT200 policy has begun to attract more export commodities. Source Sun Read More

#GlobalAISummit: DG NITDA Canvasses for Safer AI Utilisation

– As Artificial Intelligence (AI) becomes embedded in people’s lives and activities to an unnoticeable stage, Kashifu Inuwa, the Director General, National Information Technology Development Agency (NITDA), has urged the global tech community to find measures that will ensure that AI systems are built according to policies, regulations, and laws. Source Tech Economy Read More

 

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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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