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Investors Gain N7.66bn as NGXASI Advances by 0.03%; Overnight Rate Contracts by 0.17%to Close at 16.33%; BDC Depreciates to 750
- EQUITIES MARKET
1.1 NGX – Listed Equities
Nigerian Equities Market closed positive as the key market indicator advanced by 14.06bps amid negative market breadth
The NGX All-Share Index advanced by 0.03% to close at 44,332.21 basis points as against 2.31% loss recorded previously to close at 44,318.15 basis points at the end of the last trading session. In Naira terms, the NGX Market CAP records N7.66bn gain.
YTD, the NGXASI Stands at +3.78%
The total volume traded declined by 27.90% to close at 119.22m, valued at N3.20bn and traded in 2,909 deals. FIDELITYBK was the most traded stock by volume with 48.09m units traded while AIRTELAFRI was also the most traded stock by value which is put at N1.15bn
Sectoral performance was broadly negative as seven (7) NGX sector index closed northward, eight (8) closed southward while three (3) closed flat. The NGXAFRHDYI index advanced by 0.24% to top the gainers chart while the Banking Index dipped by 0.82% to top the losers’ chart.
Dangote index advanced by 0.16% to close at 128.1 basis points and the Elumelu index declined by 0.20% to close at 106.42 basis points.
At the close of trading, market recorded 16 gainers to 17 losers and 68 unchanged. CWG topped the list of gainers while BETAGLAS 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
FIDELITYBK led the volume’s chart with 33.02% contribution and closely followed by GTCO and JAIZBANK
AIRTELAFRI tops the value’s chart with 54.95% contribution and closely followed by MTNN 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 index declined by 0.01% to close negative at 730.69 basis points as against flat position recorded previously to close at 730.73 basis points
The total volume traded declined by 70.30% to close at 0.12m units valued at N6.68m and traded in 11 deals.
At the close of trading, NASD OTC market recorded zero (0) 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 Russia MICEX Index leads the top five gainers with 2.74% gain while the Phillipines PSEi Index tops the top three losers with 1.50% loss as of 4pm Nigerian Time
1.4 African Indices
Similarly, on the African scene, the South Africa Financial 15 Index tops the top five gainers with 2.41% gain while the South Africa Industrial 25 Index tops the top four losers with 2.23% loss as of 4pm Nigerian Time
- BONDS AND FIXED INCOME MARKETS
2.1 Debt Market Size
The FMDQ Debt Market Size was not available as at the time of writing this report.
2.2 Overnight and Open Repo (OPR)
The overnight lending rate closed flat at 16.50% while the Open Repo (OPR) rate closed flat at 16.25%
- COMMODITIES MARKET
3.1 AFEX Indices
The AFEX ACI and the AFEX AEI closed flat
3.2 AFEX Commodity Prices
Soybeans grew by 8.76% to top the gainers chart as four others closed positive while the remaining closed flat.
3.3 Global Commodity Prices
Gold recorded 0.89% gain while Silver also advanced by 2.66% as of 11:37 NY time
In the energy market, Brent advanced by 1.11% while WTI also advanced by 3.05% as of 10:39 AM Central Daylight Time (CDT)
- CURRENCY/ FX MARKET
The naira appreciated by 0.08% at the I&E FX Window to close at N441.13/USD while the NAFEX rate depreciated by 0.01% to close at N440.85/USD
Brent Crude Drops Below $90 on Recession Fears – OIR 181022
– We will then look at some of the key market movers early this week before providing you with the latest analysis of the top news events taking place in the global energy complex over the past few days. We hope you enjoy. Source Oilprice Read More
Nigeria to Convert $25 Billion CBN Financing to 30-Year Debt
– Nigeria’s federal government has set the terms for the conversion of its stock of central bank overdrafts into long-term notes in a bid to create transparency around its dependence on that source of funding. Source Bloomberg Read More
Again, MAN Tasks Government on Favourable Policies for Viable Local Manufacturing
– The Manufacturers Association of Nigeria (MAN) has lamented over the increasingly high-interest rates for manufacturers in the country, noting that made-in-Nigeria goods would continue to be uncompetitive if the interest rate remains at double figures. Source Guardian Read More
El-Rufai Presents N370bn 2023 Draft Budget
– The Kaduna State Governor, Mallam Nasir El Rufai has presented the 2023 draft budget of N370bn to the State House of Assembly. The estimates conformed with his administration’s 60: 40 ratio of capital to recurrent expenditure, its 8th and final budget which ends in May 2023. Source Punch Read More
UK Inflation Accelerates to 40-Year High as Food Prices Rise
– British food prices rose at the fastest pace since 1980 last month, driving inflation back to a 40-year high and heaping pressure on the embattled government to balance the books without gutting help for the nation’s poorest residents. Source AP Read More
Naira Likely to be Devalued by 20% in 2023, Bank of America Says
– Nigeria’s local currency unit is set to weaken further next year as its current exchange rate to the dollar is well above fair value, according to Bank of America. Source Bloomberg Read More
Media Intelligence Agency Publishes Media Sentiments of Commercial, Digital Banks, and Insurance Companies
– Since the beginning of 2022, the Nigerian Banking (commercial and digital) and Insurance industries have experienced an increase in media interactions, campaigns, and awareness. These were boosted even further by the fantastic numbers it reported to the media in the third quarter of the year. Source P+ Measurement Services Read More
FGN’s Borrowing Cost Jumps, 2032 Bond Hits 15% at Primary Market Auction
– Against the backdrop of persistent rise in inflation (20.77% as at September), hawkish monetary policy stance of the Central Bank (MPR at 15.5%), and worsened debt service to revenue ratio (118%), investors are aggressively seeking adequate compensation that will largely shrink the existing negative real return in the fixed income market. Source CSL Research Read More
Lafarge S.A. Pleads Guilty to Conspiring to Provide Material Support to ISIS and ANF; Agrees to Pay $778m in Fines and Forfeiture
– A global building materials manufacturer and its subsidiary pleaded guilty today to a one-count criminal information charging them with conspiring to provide material support and resources in Northern Syria from 2013 to 2014 to the Islamic State of Iraq and al-Sham (ISIS) and the al-Nusrah Front (ANF), both U.S.-designated foreign terrorist organizations. Source The United States Dept of Justice Read More
Jean-Paul Servais Appointed Chair of the New IOSCO Board
– The International Organization of Securities Commissions (IOSCO) is pleased to announce the appointment of Mr. Jean-Paul Servais as Chair of the new IOSCO Board. Source IOSCO Read More
FG Seeks Private Sector Participation on Food Security
– The Minister of Trade and Investment, Niyi Adebayo, made the call on Tuesday in Abuja at the ongoing 46th conference of the Nigerian Institute of Food Science and Technology (NIFST), with the theme: ‘Advancing National Development, Wealth Creation and Food Security through Food Processing and Preservation. Source ThisDay Read More
Telcos Fume as FG Orders Tariff Hike Reversal
– The Federal Government has ordered telecommunication companies to reverse their recent 10 per cent hike in calls and data prices. This decision means that telcos like MTN Nigeria and Airtel, who had initially increased the prices of their data bundles by about 10 per cent, will now need to revert to their old prices. Source Punch Read More
FG to Spend N10bn on NIPOST Recapitalisation, Analysts Kick
– Economy experts have taken a swipe at the Federal Government’s plan to spend N10 billion for the recapitalisation of the Nigerian Postal Services, NIPOST, as contained in the 2023 Appropriation Bill. Source Vanguard Read More
Insurance Sector Records N174.8bn Claims, Settles N148.2bn In Q2
– The insurance industry has recorded total claims of N174.8 billion in the second quarter of 2022, a performance bulletin released by the National Insurance Commission (NAICOM) yesterday, has shown. Source Leadership Read More
President Buhari Signs Start Up Bill 2022 Into Law
– President Muhammadu Buhari, GCFR today signed the Start-Up Bill 2022 into law at the Presidential Villa, Aso Rock, Abuja. In a statement issued by the Minister of Communications and Digital Economy Prof. Isa Ali Pantami, this will be a gamechanger for the technology industry. Source WebTV Read More