Headlines news for the day – First Ideas Limited

Headlines news for the day

Investors Gain N8.65bn as NGXASI Inches up by 0.04%; Overnight Rate Expands by 0.08% to Close at 8.83%; BDC Depreciates to 830

  1. EQUITIES MARKET 

 

1.1 NGX – Listed Equities

Nigerian Equities Market closed in the green zone as the key market indicator inched up by 15.88bps amid positive market breadth

 

The NGX All-Share Index advanced by 0.04% to close at 43,477.48 basis points as against 1.82% loss recorded previously to close at 43,461.60 basis points at the end of the last trading session. In Naira terms, the NGX Market CAP records N8.65bn gain.

 

YTD, the NGXASI Stands at +1.78%

 

The total volume traded declined by 46.62% to close at 133.41m, valued at N1.81bn and traded in 3,078 deals. FBNH was the most traded stock by volume with 30.38m units traded while DANGCEM was the most traded stock by value which is put at N318.11mln

 

Sectoral performance was broadly positive as eleven (11) NGX sector index closed northward, four (4) closed southward while three (3) closed flat. The NGX MERIVAL index advanced by 0.46% to top the gainers chart while the NGX Oil and Gas index dipped by 0.67% to top the losers’ chart.

 

Dangote index advanced by 0.56% to close at 116.45 basis points as the Elumelu index also advanced by 0.83% to close at 106.61 basis points.

 

At the close of trading, market recorded 12 gainers to 11 losers and 76 unchanged. UNITYBNK topped the list of gainers while HONYFLOUR 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

FBNH led the volume’s chart with 22.77% contribution and closely followed by OANDO and ZENITHBANK

 

DANGCEM tops the value’s chart with 17.57% contribution and closely followed by FBNH and AIRTELAFRI

 

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 0.02% to close at 717.34 basis points as against 0.40% loss recorded previously to close at 717.47 basis points

 

The total volume traded advanced by 473.98% to close at 1.10m units valued at N1.36m and traded in 8 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 Taiwan Weighted Index leads the top five gainers with 2.18% gain while the Russia MICEX Index tops the top three losers with 1.53% loss as of 4pm Nigerian Time

 

1.4 African Indices

Similarly, on the African scene, the Tanzania Index tops the top three gainers with 1.65% gain while the Botswana DFSI tops the top five losers with 1.41% 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 at the time of writing this report.

 

2.2 Overnight and Open Repo (OPR)

The Overnight lending rate advanced by 0.08% to close at 8.83% while the Open Repo (OPR) rate closed flat at 8.50%

 

  1. COMMODITIES MARKET

 

3.1 AFEX Indices

The AFEX ACI closed flat at 455.71 while the AFEX AEI also closed fat at 202.33 basis points

 

3.2 AFEX Commodity Prices

Sorghum grew by 29.51% to top the gainers chart while Ginger declined by 19.88% to top the losers chart.

 

3.3 Global Commodity Prices

Gold recorded 0.02% gain while Silver depreciated by 0.28% as of 11:02 NY time

 

In the energy market, Brent declined by 3.91% while WTI also declined by 4.40% as of 10:04 AM Central Daylight Time (CDT)

 

  1. CURRENCY/ FX MARKET

The naira appreciated by 0.10% at the I&E FX Window to close at N445.67/USD while the NAFEX rate also appreciated by 0.07% to close at N443.31/USD

 

Financial Account Shifts to Surplus in Q2 2022

 The surplus in financial liabilities was driven by a USD1.0bn inflow from the CBN’s currency swaps compared with zero for Q1 ’22, and other investment liabilities (mostly currency deposits and loans) of almost USD3.0bn vs. USD1.6bn in Q1 ’22. Source FBNQuest Read More

Osinbajo to NESG: Economic summit should focus on inflation, exchange rate control

 Vice-President Yemi Osinbajo has asked the Nigerian Economic Summit Group (NESG) to focus on pressing national issues at its upcoming summit. Source TheCable Read More

BPP to Revise Procurement Documents to ‘Address Inadequacies’

– The Bureau of Public Procurement (BPP) says there is an urgent need to revise Nigeria’s procurement documents to address inadequacies observed by ministries, departments and agencies (MDAs). Source TheCable Read More

Reps Probe MDAs Over Illegal N600bn Spending

 The House of Representatives Committee on Public Accounts has commenced a full-scale investigation of 115 ministries, departments and agencies of the Federal Government for spending over N600bn outside their approved budgets on salaries and allowances. Source Punch Read More

Understanding the CBN’s Decision to Redesign Banknotes: The Hard bite of Unintended Consequences

 Counterfeit deterrence is one of the major goals the CBN seeks to achieve with the redesign of the Naira. According to the Central Bank Governor, several security reports of large-scale currency counterfeiting rackets have raised concerns about the integrity of the Naira. Source Proshare Research Read More

VITAFOAM Nigeria Plc 9M 2022 Result: Mounting Debt Spooks Rising Profitability

– Vitafoam Nigeria Plc saw a +0.26% rise in its net income margin with an +8.53% improvement in its acid test ratio, increasing from 0.95X to 1.03X, suggesting improved liquidity. Source Proshare Research Read More

NGX Celebrates CIS on 30th Anniversary, Reopens Trading Floor

– Nigerian Exchange Limited (“NGX” or “The Exchange”) hosted the Chartered Institute of Stockbrokers (CIS) to a Closing Gong ceremony to commemorate the Institute’s 30th anniversary alongside the reopening of the trading floor of the market on Monday, 7 November 2022. Source NGX Read More

CEO Remuneration 2022: CEOs in a Post COVID Era – What Matters Most

 The world has gone through a subtle, silent, and borderline secretive remake. The onset of the global COVID-19 pandemic between 2019 and 2020 set the tone for a new world order for corporate management and social interaction. Source Proshare Research Read More

CardinalStone Shines at BAFI, Wins Stockbroking Firm of the Year Award, Three Others

 – Nigeria’s leading investment and multi-asset management firm, CardinalStone Partners Limited, has clinched four awards at the just concluded BusinessDay Banks and Other Financial Institutions (BAFI) awards in Lagos. Source CardinalStone Read More

COP27: Nigerians to Benefit from UK £95m Support

 – The UK Foreign Secretary, James Cleverly, has said at least four million Nigerians will benefit from the £95m Propcom+ investment aimed at increasing productivity and adapting to the effects of climate change while at the same time reducing emissions. Source Punch Read More

FG to Facilitate Broadband Deployment with N800b NCB Project

 As part of measures to improve the state of broadband in the country, the Nigerian Communications Commission (NCC) has inaugurated an industry-wide committee to facilitate the deployment of broadband infrastructure under a project named, National Communications Backbone (NCB). Source Guardian Read More

NITDA Strengthens Service Level Agreements To Protect IT Consumers

 – The National Information Technology Development Agency (NITDA) has strengthened Service Level Agreements (SLA) to address challenges in service delivery in the IT sector, especially to protect consumer rights on products and services. Source Leadership Read More

Crypto Exchange FTX Saw $6 Bln in Withdrawals in 72 Hours

 Crypto exchange FTX saw around $6 billion of withdrawals in the 72 hours before Tuesday morning, according to a message to staff sent by its CEO Sam Bankman-Fried that was seen by Reuters. Source Reuters Read More

NAICOM Sets Growth Plans for Insurance Industry

– The Commissioner for Insurance and Chief Executive Officer, National Insurance Commission Mr Sunday Thomas, said this during the seminar organised by the commission for insurance journalists in Lagos with the theme ‘The future of the Nigerian insurance sector in a shifting landscape’. Source Punch Read More

 

Unity Bank Plc Declares N2.21bn PAT in Q3 2022 Results,(SP:N0.44k)

Unity Bank Plc, a financial institution in the financial services sector announced 16.8% revenue growth in Q3 22 Results.

 

Key Highlights

  • Gross Income grew by 16.8% from N36.18bn to N42.24bn.
  • Profit before tax stood at N2.21bn
  • Profit after tax stood at N2.03bn
  • Share Price Currently Stands at N0.44k

About the Author

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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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