D
Investors Gain N281.48bn as NGXASI Advances by 1.07%; Overnight Rate Expands to 14.13%; BDC Appreciates to 745
- EQUITIES MARKET
1.1 NGX – Listed Equities
Nigerian Equities Market closed positive as the key market indicator advanced by 516.79 bps amid positive market breadth
The NGX All-Share Index advanced by 1.07% to close at 48,881.93 basis points as against a 0.13% loss recorded previously to close at 48,365.14 basis points at the end of the last trading session. In Naira terms, the NGX Market CAP records a N281.48bn loss.
YTD, the NGXASI Stands at +14.43%
The total volume traded declined by 31.95% to close at 100.82m, valued at N1.14bn and traded in 2,440 deals. STERLNBANK was the most traded stock by volume with 34.19m units traded while MTNN was also the most traded stock by value which is put at N403.78m
Sectoral performance was broadly positive as fourteen (14) NGX sector index closed northward, one (1) closed southward and three (3) closed flat. The NGX-IND index advanced by 4.33% to top the gainer’s chart while the NGX Food and Beverages index declined by 0.03% to top the losers’ chart.
The Dangote index closed flat at 136.87 basis points while the Elumelu index advanced by 0.78% to close at 112.32 basis points.
At the close of trading, the market recorded 17 gainers to 9 losers and 70 unchanged. PRESTIGE topped the list of gainers while UNITYBNK 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
STERLNBANK led the volume’s chart with 33.91% contribution and closely followed by GTCO and UCAP
MTNN tops the value’s chart with 35.30% contribution and followed by GTCO and BUACEMENT
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 1.20% to close at 710.30 basis points as against the 0.95% gain recorded previously to close at 718.95 basis points
The total volume traded advanced by 15.19% to close at 148,058 units valued at N3.23m and traded in 9 deal(s).
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 Hong Kong Hang Seng Index leads the top five gainers with 2.32% gain while the East Isreal TA-100 Index tops the top five losers with 1.56% loss as of 4pm Nigerian Time
1.4 African Indices
Similarly, on the African scene, the Nigeria All Share Index tops the top four gainers with 1.07% gain while the South Africa Financial 15 Index tops the top five losers with 0.51% loss as of 4pm Nigerian Time
- BONDS AND FIXED INCOME MARKETS
2.1 Debt Market Size
The FMDQ Debt Market Size advanced by 0.37% to close at 30.2.
2.2 Overnight and Open Repo (OPR)
The Overnight lending rate expanded by 3.13% to close at 14.13% while the Open Repo (OPR) rate also expanded by 2.75% to close at 13.63%
- COMMODITIES MARKET
3.1 AFEX Indices
The AFEX ACI closed flat at 455.71 while the AFEX AEI closed flat at 231.74 basis points
3.2 AFEX Commodity Prices
Paddy rice advanced by 0.08% to top the gainers’ chart while Soybeans declined by 5.93% to top the losers’ chart.
3.3 Global Commodity Prices
Gold recorded 0.36% gain while Silver advanced by 0.91% as of 10: 53 NY time
In the energy market, Brent advanced by 1.21% and WTI also advanced by 1.54% as of 10: 54 AM Central Daylight Time (CDT)
- CURRENCY/ FX M7ARKET
The naira at the I&E FX Window depreciated by 0.16% to close at N446.50/USD while the NAFEX rate also depreciated by 0.05% to close at N444.72/USD
Potential Turnaround in the Oil and Gas Sector?
– The Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, disclosed in a press briefing that the nation will stop fuel importation by 2023. Source United Capital Research Read More
Cash Withdrawal: Emefiele Insists on Limits, Reps Demand Suspension
– The Governor of the Central Bank of Nigeria, Godwin Emefiele, on Thursday, said the Nigerian economy was overdue to go cashless as the Federal Government had sufficiently invested in the required payment system infrastructure to make the transition seamless. Source Punch Read More
Fuel Scarcity: Again, Mid/Downstream Regulator Assures of Stable Petrol Supply, As Long Queues Persist
– The Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has again assured that the queues at filling stations will soon disappear as marketers commence massive loading of petroleum products. Source Leadership Read More
SEC Projects N5trn Capitalisation For Shariah Products By 2025
– The Director General, Securities and Exchange Commission (SEC), Mr. Lamido Yuguda yesterday in Abuja said that the revised edition of the Capital Market Master plan (2021 – 2025) that was recently launched has a projection of 50 listings of Shariah-compliant products with a market capitalisation of at least N5 trillion by the year 2025. Source ThisDay Read More
CBN Directs Banks and Acquirers to Desist from the Practice of Discrimination Between Payment Cards
– The Central Bank of Nigeria has observed that a number of the acceptance devices deployed by banks discriminate between payment cards. For the avoidance of doubt, all certified payment acceptance devices deployed in Nigeria are required to accept ALL transactions arising from ANY card issued by ANY Nigerian bank. Source CBN Read More
Oil Price Falls to $75 a Barrel — First Time In One Year
– The development comes 24 hours after Brent crude hit a 2022 low of $77 a barrel. Falling further, Brent crude, the world’s oil benchmark, dipped 1.56 percent to $75.97 a barrel — first time since December 1, 2021. Source TheCable Read More
Oil Falls on Weakening Demand, Shrugs off Keystone Closure
– Oil settled lower for a fifth straight session on Thursday as traders shrugged off the closure of a major Canada-to-U.S. crude pipeline, focusing instead on concerns that global economic slowdowns would slash fuel demand. Source Reuters Read More
Nigeria, Seychelles sign Bilateral Air Services Agreement
– Minister of Aviation, Hadi Sirika, using the platform of the ongoing International Civil Aviation Negotiation (ICAN) event holding in Abuja, led officials of the Ministry to sign Bilateral Air Services Agreement (BASA) while the Republic of Seychelles Minister of Transport, Mr. Anthony Derjacques, signed on behalf of his country. Source Sun Read More
Tech Startups in Lagos Attracted $1.2b Capital Investments in 2021
– The Lagos State government announced on Thursday that its ecosystem for tech startups received $1.5 billion in investment in 2021, with fintech being the most alluring sub-sector. Source TechEconomy Read More
Cashless Transactions Record N318.66tn In 11 Months
– Cashless transactions in Nigeria rose by 41.75 percent to N318.66tn in the first 11 months of 2022 according to new industry statistics from the Nigeria Inter-Bank Settlement System. Source Punch Read More
Afreximbank Doubles Funding Facility for Creative and Cultural Industries to US$1bn
– The Creative Africa Nexus Weekend (CANEX WKND) brought together the largest gathering for the cultural and creative industries in Africa and the Diaspora in Abidjan, Côte d’Ivoire, from 25th to 27th November 2022. Source Afreximbank Read More
Airtel Africa Turns Out to be Sole Bidder of Second 3.5GHz Spectrum Auction
The Nigerian Communications Commission (NCC) has announced that Airtel Networks Limited (Airtel) emerged as the sole bidder for the advertised 3.5GHz spectrum band.
In a statement, the regulator said that by the close of business on Monday, December 5, 2022, only two companies expressed interest in the auction of the 3.5GHz Spectrum band; Airtel Networks Limited (Airtel) and Standard Network & Connections Limited (Standard Network).
Reuben Mouka, Director, Public Affairs of NCC, stated that only Airtel paid the Intention to Bid Deposit (IBD) as stipulated in the Information Memorandum (IM), whereas Standard Network sent an email appeal for the deadline to be extended by 12 working days which was not acceptable given the auction timetable.
The NCC said having met all the provisions in the IM; Airtel has, therefore, emerged as the sole Bidder.
Furthermore, the regulator said there should be no further bidding and that the NCC will proceed to the Assignment Stage in line with the published Information Memorandum guiding the licensing process.
MTN Nigeria was nowhere to be found during the bidding process.
