IInvestors Gain N14.13bn as NGXASI Inches up by 0.06%; Overnight Rate Expands by 4% to Close at 12.83%; BDC Appreciates to 700
- EQUITIES MARKET
1.1 NGX – Listed Equities
Nigerian Equities Market maintained positive posture as the key market indicator inched up by 25.93bps amid positive market breadth
The NGX All-Share Index advanced by 0.06% to close at 43,968.75 basis points as against 1.07% gain recorded previously to close at 43,942.82 basis points at the end of the last trading session. In Naira terms, the NGX Market CAP records N14.13bn gain.
YTD, the NGXASI Stands at +2.93%
The total volume traded declined by 48.22% to close at 209.71m, valued at N2.17bn and traded in 2,942 deals. ACCESSCORP was the most traded stock by volume with 81.34m units traded while ACCESSCORP was also the most traded stock by value which is put at N654.72mln
Sectoral performance was broadly positive as eight (8) NGX sector index closed northward, four (4) closed southward while six (6) closed flat. The NGX Insurance index advanced by 2.02% to top the gainers chart while the NGX MERIVAL index dipped by 0.39% to top the losers’ chart.
Dangote index closed flat at 125.00 basis points as the Elumelu index advanced by 1.01% to close at 107.74 basis points.
At the close of trading, market recorded 16 gainers to 7 losers and 80 unchanged. CORNERST topped the list of gainers while FLOURMILL topped the list of losers.
Thus, market breadth closed positive as the Market Breadth Index (MBI) is put at 0.11x.
Volume and Value Contribution
ACCESSCORP led the volume’s chart with 38.79% contribution and closely followed by TRANSCORP and GTCO
ACCESSCORP tops the value’s chart with 30.23% contribution and closely followed by NB 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 dipped by 0.03% to close at 714.80 basis points as against 0.33% loss recorded previously to close at 714.99 basis points
The total volume traded declined by 100% to close at 2,524 units valued at N0.311m and traded in 7 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 Hong Long Hang Seng Index leads the top five gainers with 7.74% gain while the Spain Madrid General Index tops the top three losers with 1.10% loss as of 4pm Nigerian Time
1.4 African Indices
Similarly, on the African scene, the South Africa All Share Index tops the top three gainers with 2.46% gain while the Casablanca ASI tops the top five losers with 0.63% 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 expanded by 4% to close at 12.83% while the Open Repo (OPR) rate also expanded by 3.50% to close at 12.00%
- COMMODITIES MARKET
3.1 AFEX Indices
The AFEX ACI closed flat at 455.71 while the AFEX AEI also closed flat at 202.33 basis points
3.2 AFEX Commodity Prices
Cashew grew by 13.04% to top the gainers chart while Sorghum declined by 17.02% to top the losers’ chart.
3.3 Global Commodity Prices
Gold recorded 0.60% gain while Silver depreciated by 0.92% as of 10:01 NY time
In the energy market, Brent advanced by 3.07% while WTI also advanced by 3.50% as of 9:02 AM Central Daylight Time (CDT)
- CURRENCY/ FX MARKET
The naira at the I&E FX Window closed flat at N446.10/USD while the NAFEX rate also depreciated by 0.07% to close at N444.10/USD
OPEC Fund and African Development Bank Group Increase Cooperation to Promote Sustainable Development in Africa
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Sharp Decline in Rail Transport Revenue in Q2 2022
– The latest report from the National Bureau of Statistics (NBS) on rail transportation shows that the total revenue generated through this mode of transportation rose by 140% y/y to NGN2.2bn in Q1 ‘22 but fell by -37% y/y to cNGN734.5m in Q’2 22. On a q/q basis, the total revenue declined by 67% q/q. Source FBNQuest Read More
World Bank introduces cost-effective electrification initiative for sub-Saharan Africa
– The World Bank has introduced a cost-effective electrification initiative to allow sub-Saharan Africa to meet the projection of universal electricity access by 2030. Source TheCable Read More
High Inflation Halts Europe’s Post-Covid Retail Recovery
– The post-pandemic recovery of European retailers’ profitability and deleveraging have been halted by sharply increased inflation that is forcing consumers to ration purchases and raising retailers’ costs, some of which can be difficult to pass on, Fitch Ratings says. Source Fitch Ratings Read More
US State Tax Collections, GDP, and Job Recoveries Still Strong Despite Looming Recession
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FSDH Continues Drive to Empower Women: Hosts 2nd Edition of Women in Business Initiative
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NDIC Set to Pay Depositors of 20 Liquidated Banks
– The Managing Director, of Nigeria Deposit Insurance Corporation (NDIC), Bello Hassan, has said the corporation has concluded plans to pay depositors of the 20 liquidated banks. Source ThisDay Read More
CutStruct Technology Raises $600k for its B2B Construct Procurement Product – LiveVend
– CutStruct Technology led by two second-time founders – John Oamen and Tayo Odunsi have just concluded a pre-seed round fundraise of about $600,000 led by Zedcrest Capital, DFS Lab and Lofty Inc, with the participation of angel investors including Kola Aina to build its premier product – LiveVend. Source CutStruct Technology Read More
Increase in Rice Prices to Drive Food Inflation?
– Based on a BusinessDay report, the price of a 50kg bag of locally parboiled rice in Nigeria grew by 53.6% in two months driven by the floods that ravaged many parts of the country. According to the report, a 50kg bag of locally parboiled rice now sells for N43,000, up from N28,000 in September. Source CSL Research Read More
Crypto.com commits to proof-of-reserves after halting certain deposits and withdrawals
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Bitcoin Hits two-year Low as Binance Abandons FTX Acquisition
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Snapplify Expands into West Africa to Impact Education
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FG Disburses N785m to 10m MSMEs
– The Minister of Industry, Trade and Investment, Richard Adebayo, has said that the Federal Government, in its efforts to create the right environment for Micro, Small and Medium Enterprises to thrive, has disbursed N785 billion through the Bank of Industry to over 10 million MSMEs from 2019 to July 2022. Source Punch Read More
AfDB Provides Over $1.1bn to 20,500 Nigerian MSMEs
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Invest in FGN Monthly Bond Auction – November 2022
The Central Bank of Nigeria on the authority of The Debt Management Office on behalf of the Federal Government of Nigeria Offers for Subscription by Auction and is authorized to receive applications for
N75,000,000,000 – 14.55% FGN APR 2029 (10-Yr Re-opening)*
N75,000,000,000 – 12.50% FGN APR 2032 (10-Yr Re-opening)*
N75,000,000,000 – 16.2499 FGN APR 2037 (20-Yr Re-opening)*
Auction Date: November 14, 2022
Settlement Date: November 16, 2022
Summary Of The Offer
Issuer:
Federal Government of Nigeria (“FGN”)
Units Of Sale:
N1,000 per unit subject to a minimum subscription of N50,001,000 and in multiples of N1,000 thereafter
Interest rate:
For Re-openings of previously issued bonds, (where the coupon is already set), successful bidders will pay a price corresponding to the yield-to-maturity bid that clears the volume being auctioned, plus accrued interest from the original issue date.
Interest payment:
Payable semi-annually
Redemption:
Bullet repayment on the maturity date
Status:
- Qualifies as securities in which trustees can invest under the Trustee Investment Act
- Qualifies as Government securities within the meaning of Company Income Tax Act (“CITA”) and Personal Income Tax Act (“PITA”) for Tax Exemption for Pension Funds amongst other investors
- Listed on the Nigerian Stock Exchange and and FMDQ OTC Securities Exchange
- All FGN Bonds qualify as liquid assets for liquidity ratio calculation for banks
Security:
FGN Bonds are backed by the full faith and credit of the Federal Government of Nigeria and are charged upon the general assets of Nigeria
