Headlines news for the day – First Ideas Limited

Headlines news for the day

Investors Gain N3.22bn as NGXASI Inches up Marginally by 0.01%; Overnight Rate Expands by 0.42% to Close at 11.25%; BDC Rate Depreciates to N713



1.1 NGX – Listed Equities

Nigerian Equities Market halted negative posture to close in the green zone as the key market indicator moved up marginally by 5.10bps amid negative market breadth.


The NGX All-Share Index inched up by 0.01% to close at 49,445.31 basis points as against 0.07% loss recorded previously to close at 49,440.21 basis points at the end of the last trading session. In Naira terms, the NGX Market CAP records N3.22bn gain.


YTD, the NGXASI Stands at +15.75%

The total volume traded advanced by +119.07% to close at 147.59m, valued at N2.39bn and traded in 3,323 deals. GTCO was the most traded stock by volume with 35.82m units traded while MTNN was also the most traded stock by value which is put at N860.43m.

Sectoral performance was broadly positive as nine (9) NGX sector index closed northward, six (6) closed southward while three (3) closed flat. The NGX MERIGRW Index inched up by 0.92% to top the gainers chart while the NGX Oil and Gas Index dipped by 2.30% to top the losers’ chart.

Dangote index closed flat at 128.26 basis points while Elumelu index declined by -0.47% to close at 107.15 basis points.

At the close of trading, market recorded 11 gainers to 12 losers and 67 unchanged. RTBRISCOE topped the list of gainers while TOTAL topped the list of losers.

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

Volume and Value Contribution

GTCO led the volume’s chart with 24.27% contribution and closely followed by CAPHOTEL and FBNH


MTNN tops the value’s chart with 35.94% contribution and closely followed by GTCO 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 dipped by 0.30% to close at 739.51 basis points as against 0.08% gain recorded to close at 741.70 basis points

The total volume traded declined by 99.90% to close at 24.17m units valued at N4.62m and traded in 9 deals.

At the close of trading, NASD OTC market recorded one (1) gainer(s) to one (1) 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 Brazil Bovespa Index leads the top five gainers with 1.83% gain while Russia MICEX Index tops the top five losers with -8.62% loss as of 4pm Nigerian Time


1.4 African Indices

Similarly, on the African scene, the Egypt EGX 30 Index tops the top five gainers with 1.59% gain while the Uganda All Share Index tops the top five losers with 1.82% loss as of 4pm Nigerian Time





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 0.42% to close at 11.25% while the Open Repo (OPR) rate also expanded by 0.67% to close at 11.00%





3.1 AFEX Indices

The AFEX ACI and AFEX AEI both closed flat


3.2 AFEX Commodity Prices

Paddy Rice advanced by 2.17% to top the gainers’ chart while Sorghum declined by 3.40% to top the losers’ chart.


3.3 Global Commodity Prices

Gold recorded 0.62% loss while Silver also declined by 1.64% as of 11:04 NY time


In the energy market, Brent declined by 1.10% while WTI also declined by 1.55% as of 10:06 AM Central Daylight Time (CDT)




The naira appreciated by 0.06% to close at the I&E FX Window at N436.25/USD while the NAFEX rate depreciated by 0.02% to close at N435.63

Nigeria’s public debt rises to N42.84 trillion

Nigeria’s total public debt rose by 2.98 percent in the second quarter of this year to N42.84 trillion ($103.31 billion), new data released by the Debt Management Office (DMO) show. The total public debt stock represents the domestic and external debt stocks of the Federal Government of Nigeria (FGN), the 36 state…

Nigeria’s public debt rises to N42.84 trillion

Nigeria’s total public debt rose by 2.98 percent in the second quarter of this year to N42.84 trillion ($103.31 billion), new data released by the Debt Management Office (DMO) show. The total public debt stock represents the domestic and external debt stocks of the Federal Government of Nigeria (FGN), the 36 state…

NDLEA makes drug seizure worth N194bn in Lagos

The National Drug Law Enforcement Agency (NDLEA) raided a warehouse in the Ikorodu area of Lagos and found 1,855 kilograms of cocaine – the highest amount of drugs ever discovered in Nigeria – stored there. The NDLEA says this is the highest cocaine seizure in Nigeria’s history with an estimate of about $278,000…

Market closes slightly positive by 0.01%

Nigeria’s equities market rose slightly by 0.01percent or N7billion on Tuesday despite analysts expectation of another slow trading session following a record negative take off to the new week. The record positive close was driven among others by FBN Holdings Plc which rose from N10 to N10.50, adding 50kobo or…

Global Addiction to Fossil Fuels’ Must End and a ‘Renewables Revolution’ Jumpstarted – Guterres

 Achieving a just and equitable energy transition is “one of the biggest challenges facing our world,” UN Secretary-General António Guterres told the Global Compact Board meeting on Sunday. Source UN News Read More

The State of Nigeria’s Economy…Not too Late to Turn the Curve

 – Whilst the world continues to recover from the COVID-19 pandemic, new shocks, such as the Russia-Ukraine conflict, and heightened inflationary trend, have emerged, thereby wreaking havoc on the global economy. These shocks drifted many economies, including advanced and emerging countries, far from full recovery from the impacts of the COVID-19 pandemic. Source NESG Read More

Nigeria’s Debt Hits N42.84tn Amid Revenue Crisis

 – Domestic debt has pushed Nigeria’s total public debt stock from N41.60tn as of March 2022 to N42.84tn as of June of the same year, showing an increase of N1.24tn in three months, according to the Debt Management Office. Source Punch Read More

NGF Launches Public Finance Database to Simplify Access to States’ Fiscal Information

 The Nigeria Governors’ Forum (NGF) has launched a public finance database that will allow citizens to easily filter and analyse states’ fiscal data and information. Source The Cable Read More

Cadbury Plc H1 2022 Result: Revenue Grows 50.54% Despite Worsening Economic Headwinds

– Judging by its H1 2022 numbers, Cadbury Nigeria Plc seems to have made a turnaround. Analysts note that the chocolate maker’s performance surpassed earlier analysts’ predictions. Source Proshare Research Read More

NT-Bills Update: Average Yield Decline Marginally by 7bps WoW to 7.57%

– Last week, the Nigerian Treasury Bills (“NT-Bills”) secondary market witnessed a bullish sentiment as investors anticipated Primary Market Auction (“PMA”) that held last Wednesday (14-Sept-22). As a result, the average yields dipped 7bps to close at 7.57% from 7.65% the previous week. Source Afrinvest Research Read More

South Africa’s Biggest Banks are Changing Course – But Economists are Worried

 South Africa’s major banks have successfully navigated complex economic terrain over the first half of 2022, but the outlook for the rest of the year remains uncertain. Source Business Tech Read More

Africa Should Not Just be in the Conversation on Climate Change but Actively Set the Agenda

 As the world continues to experience the daily impact of global warming, whether the tragic recent flooding in Pakistan, or the less covered, but equally harmful, persistent environmental degradation of Africa’s Sahel region, leaders need to act, not just talk. Source Tony O. Elumelu Read More

CISI Bill: Avoiding Legislating the Nigerian Capital Market into a Monopoly

 Being a Presentation to the House Committee on Capital Market and Institutions by the CIIA at the Public Hearing on the Proposed Bill on the Chartered Institute of Securities and Investment (HB 1858). Source CIIA Read More

Fed Govt Gets 40% of Azura $30m Power Payment

 – Forty percent of the $30 million paid monthly to the Azura-Edo Power Plant for 452Mw energy and capacity charges returns to the Federal Government, through the Central Bank of Nigeria (CBN), Nigerian Gas Company and the Nigerian Petroleum Development Company (NPDC). Source The Nation Read More

MTN Rolled Out 5G in Nigeria

 – 5G is live in Nigeria! We were at the exhilarating commercial launch of MTN 5G and we had an eye-opening experience! All the guests present were able to experience the beauty and comfort that comes from a technology-led world. Source MTN Nigeria Read More

Clickatell Helps Nigerians Access eNaira Services, Boosting Financial Inclusion

– Clickatell, a CPaaS innovator and Chat Commerce leader, has partnered with the Central Bank of Nigeria (CBN) to deliver fast, simple, and cost effective eNaira banking services to all Nigerians using the USSD channel, eliminating the need for data and available on all handsets. Source Clickatell Read More

NCC to Generate N500bn From 5G Spectrums Auctioning

 – The Nigerian Communication Commission (NCC) says it plans to generate over N500 billion as revenue for the Federal Government from the auctioning of two 5G spectrums in 2023. Source Vanguard Read More

Flutterwave Merchants Can Now Accept Payments in Digital Currency eNaira

 Flutterwave merchants can now process payments in eNaira, the Nigerian digital currency issued and distributed by the Central Bank of Nigeria. Source Fintech Africa Read More

FSDH Leads Conversation on Financing Healthcare in Nigeria

 – The Nigerian healthcare industry has seen a steady increase in participation from both the private sector and multilateral institutions from all over the world. These organisations have fuelled the industry with foreign direct investment, and these funds have been channelled towards advancing various facets of the healthcare value chain. Source WebTV Read More

United Capital CEO Peter Ashade, Advocates Digital Technology to Improve Savings and Investments in Nigeria

 – Nigeria needs to leverage digital technology to grow savings and investments in the country. The Group Chief Executive Officer of United Capital Mr. Peter Ashade made this point at a workshop which discussed theme “Ushering the New Era of Savings/Investments through Digital Transformation”. Source WebTV Read More

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