Investors Lose N1.85bn as NGXASI Declines by 0.01%; Overnight Rate Contracts to 9.63%; BDC Appreciates to 750
- EQUITIES MARKET
Nigerian Equities Market closed positive as the key market indicator advanced by 3.40bps amid flat market breadth
The NGX All-Share Index declined by 0.01% to close at 47,656.64 basis points as against 0.71% gain recorded previously to close at 47,660.04 basis points at the end of the last trading session. In Naira terms, the NGX Market CAP records N1.85bn loss.
YTD, the NGXASI Stands at +11.57%
The total volume traded advanced by 61.55% to close at 172.9m, valued at N2.84bn and traded in 3,073 deals. FCMB was the most traded stock by volume with 49.8m units traded while MTNN was also the most traded stock by value which is put at N891.98m
Sectoral performance was broadly positive as ten (10) NGX sector index closed northward, five (5) closed southward and three (3) closed flat. The NGXAFRBVI index advanced by 2.35% to top the gainer’s chart while NGX LII index declined by 0.29% to top the losers’ chart.
The Dangote index closed flat at 136.91 basis points while the Elumelu index advanced by 2.47% to close at 113.97 basis points.
At the close of trading, the market recorded 11 gainers to 11 losers and 77 unchanged. UPDCREIT topped the list of gainers while HONYFLOUR 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
FCMB led the volume’s chart with 28.80% contribution and closely followed by COURTVILLE and ACCESSCORP
MTNN tops the value’s chart with 31.37% contribution and followed by AIRTELAFRI and ZENITHBANK
1.2 NASD OTC Exchange – Unlisted Equities
The NASD market index closed flat at 702.76 basis points as against the flat position recorded previously to close at 702.76 basis points
The total volume traded closed flat at 14,508 units valued at N0.66m and traded in 4 deal(s).
At the close of trading, NASD OTC market recorded zero (0) gainer(s) to zero (0) loser(s)
1.3 Global Indices
On the global scene, the USA Nasdaq Index leads the top five gainers with 4.64% gain while the Jakarta JKSE Index tops the top five losers with 0.85% loss as of 4pm Nigerian Time
1.4 African Indices
Similarly, on the African scene, the South Africa Resource 10 Index tops the top five gainers with 2.89% gain while the Lusaka All Share Index tops the top five losers with 0.76% 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 this report was completed.
2.2 Overnight and Open Repo (OPR)
The Overnight lending rate contracted by 1.25% to close at 9.63% while the Open Repo (OPR) rate also contracted by 0.75% to close at 9.50%
- COMMODITIES MARKET
3.1 AFEX Indices
The AFEX ACI closed flat at 455.71 while the AFEX AEI appreciated by 0.41% to close at 209.65 basis points
3.2 AFEX Commodity Prices
Paddy rice advanced by 1.15% to top the gainers’ chart while Cashew declined by 0.82% to top the losers’ chart.
3.3 Global Commodity Prices
Gold recorded 1.63% gain while Silver advanced by 1.48% as of 09: 57 NY time
In the energy market, Brent advanced by 2.21% and WTI also advanced by 2.84% as of 09: 58 AM Central Daylight Time (CDT)
- CURRENCY/ FX M7ARKET
The naira at the I&E FX Window depreciated by 0.12% to close at N445.83/USD while the NAFEX rate appreciated by 0.04% to close at N444.43/USD
Fitch Downgrades 7 Nigerian Banks to ‘B- ‘Following Sovereign Downgrade
– Fitch Ratings has downgraded the Long-Term Issuer Default Ratings (IDRs) of seven Nigerian banks and two bank holding companies (BHCs) to ‘B-‘ from ‘B’. The Outlooks are Stable. Source Fitch Ratings Read More
Gulf Countries Should Maintain Reform Momentum, Despite Oil Boom
– GDP growth for Gulf Cooperation Council (GCC) countries—Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE—is expected to more than double, reaching 6.5 percent in 2022, according to our recent Policy Paper. Source IMF Read More
Fuel Scarcity: No Planned Price Hike, Says FG, Queues Spread
– For the first time in weeks since the scarcity of Premium Motor Spirit, popularly called petrol, began, the Federal Government opened up and declared on Wednesday that there was no plan to increase the pump price of petrol, at least during the Yuletide season. Source Punch Read More
BUA Cement 9M 2022 Result: Strong Net Earnings Despite Rising Net Finance Cost
– Adding the 3mmtn Sokoto line 4 cement plant in January increased BUA Cement’s limestone production capacity, contributing to the +40.5% growth in the group’s revenue in 9M 2022. The upward adjustment in cement prices and improved interest income strengthened the group’s earnings despite the net finance and operating costs spike. Source Proshare Research Read More
Regulatory Risk for ESG Funds Highlighted by Recent Findings
– A spate of high-profile regulatory findings against how asset managers operate ESG funds and present them to clients highlights the regulatory risk associated with such funds, Fitch Ratings says. Source Fitch Ratings Read More
Power Purchase Agreements Raise Electricity Payments to N5trn –NBET
– Nigerian Bulk Electricity Trading (NBET) has said the implementation of Power Purchase Agreements (PPAs) and vesting contracts by the agency have resulted in electricity payments worth N5 trillion from February 2015 till date. Source Sun Read More
Bankers design a new blockchain that works like bitcoin — but it’s regulated
– A team of technology experts within banks and technology companies have designed an anti-bitcoin. It’s the architectural drawings for a distributed ledger that borrows many of the concepts behind bitcoin. Source American Banker Read More
NITDA Urges Stakeholders on Successful Implementation of Startup Act to Deepen Digital Economy
– Following the passage of Nigeria’s Startup Bill into Law, the National Information Technology Development Agency (NITDA), has tasked stakeholders on the successful implementation strategies of the Startup Act and its implication to Nigeria’s digital economy. Source ThisDay Read More