Author: Ogochukwu Ndubuisi

Equities Investors Gain N793bn, NGX Largest Daily Gain in 9-Month The Nigerian Exchange (NGX) grew by about N793 billion, its largest daily gain in nine months, as MTN Nigeria and Zenith Bank stocks rallied. The strong bargain hunting in telecom, banking, and hotel stocks,, among others, lifted key performance indicators higher on Thursday. The performance of top gainers like MTNN (+10.00%), TRANSCOHOT (+9.78%), and ZENITHBANK (+4.49%) outweighed the negative impact of selloffs in WAPCO (-1.41%) and FBNH (-1.27%), stockbrokers said in a note. Data from the local bourse showed that key market performance indicators recorded their highest daily gain in…

Equities investors’ gained more than N507 billion on the Nigerian Exchange (NGX) as MTN and Transcorp stock rallied. Due to bargain hunting, the local bourse reversed the previous day loss, lifting up key performance indicators by 80 basis points.

Short-term Benchmark Interest Rates Dip Despite CRR Debits The short-term benchmark interest rates dropped as banking system liquidity levels remained strong after cash reserve ratio debits. At N476 billion, the amount in the financial system appeared robust on Monday, supporting a moderate decline in interbank rates. The money market rates declined despite the fact that the Central Bank of Nigeria’s (CBN) cash reserve ratio on banks depleted the balance in the financial system. Data revealed that liquidity balance slowed down from N872 billion to N476 billion, having rebounded from N166 billion deficit during the midweek trading session.  Banks borrowing from…

Equities Investors Gain N38bn on Banking, Insurance Stock Picks The Nigerian Exchange, NGX, expanded further on Monday as investors gained about N38 billion picking attractive banking and insurance stocks. The Nigerian domestic market commenced trading activities for the new week on a positive note, continuing the bullish trend from the previous week. Stockbrokers said market performance indicators, including the NGX All-Share Index (ASI) and Market Capitalisation, recorded modest gains, both advancing by +0.06%. The surge in equities market capitalisation was driven by investors’ increased buying interest in the banking and insurance sectors, as the New Year rally bolstered market sentiment.…

Onion Farmers Link Price Hike, Scarcity to Flood, Climate Change The Onion Producers, Processors and Marketers Association of Nigeria has explained reasons for the upsurge in the price of onions and scarcity of the produce in the country. The National President of the Association, Mr Aliyu Isah, gave the reasons in an interview with the News Agency of Nigeria (NAN) on Sunday in Lagos. NAN reports that Nigeria witnessed a soaring rise in the price of onions from the fourth quarter of 2024, with a bag selling between N250,000 and N270,000 as against N70,000 and  N90,000 per bag in previous…

Top 5 Nigerian Companies Stocks Recommend for Investors Zenith, FBN Holdings, and MTN Nigeria topped the lists of some listed companies identified to have potential upside, as per details from Cowry Asset Limited recommendation for the week. The equities market has become money making machine for investors seeking alpha. The strong return of about 37% in 2024 is a testament that stocks investors are cashing out big. The thing is, there are few other easier ways to make money without taking additional risks. Those who dares, gain and with fluctuating economic condition, it will be nice if you can dare.…

Yield on Nigeria’s Eurobond Declines to 9.6% Nigeria’s sovereign Eurobonds market experienced buy pressure across the short, mid and long ends as foreign portfolio investors sentiment improved. The renewed bargain hunting on Nigerian notes led to a six basis points, 6bps, decrease in the average yield to 9.62%, said Cowry Asset Limited. The Eurobond market kicked off the year with bucket of demand for Nigeria’s Eurobond on expectations of an improved economic performance in 2025. According to AIICO Capital Limited, trade volumes were weak as participants were still adjusting to the New Year. As the day went on, buying interest…

Stanbic IBTC Insurance Passes Audit Certification Stanbic IBTC Insurance Limited announced that it has successfully passed a comprehensive audit, which has resulted in the issuance of an IQNET-recognised certificate. The company said in a statement that he certificate confirms that Stanbic IBTC Insurance tLimited has implemented and maintained a Quality Management System, by DQS Holding. This system covers the scope of Life Insurance and fulfils the requirements of the following standard: ISO 9001:2015. DQS Holding GmbH is the holding company of the worldwide DQS Group, a Frankfurt-based group that provides assessments and certifications of management systems and processes of any…

Ardova, Heyden Join Dangote Refinery to Make Petrol Affordable Propelled by the economic relief provided by President Bola Ahmed Tinubu’s crude-for-naira swap initiative, two prominent players in Nigeria’s downstream oil and gas sector—Ardova Plc and Heyden Petroleum—have entered into a bulk purchase agreement with the Dangote Petroleum Refinery. This strategic move is designed to ensure a steady supply of petroleum products at affordable prices, further stabilising the nation’s fuel market and enhancing energy security for consumers. This development follows the example set by MRS Oil Nigeria Plc, which had previously entered into a similar agreement with Dangote Refinery. As a…

Oil, Gas Index Rises Sharply as Oando Gains 508% in 2024 Oil and gas index led the sectoral gain in the equities market in 2024, up by more than 160% due to significant gain reported by Oando Energy. In the local bourse, Oando Energy Plc gained 508.29% to settle at N66 per share as investors appreciated the company’s expansion by acquisition focus amidst uncertainties in the global commodities market. Data revealed that the energy company’s stock annual gain actually declined following a weak earnings performance in the third quarter of 2024. The company’s market value which settled at N820 billion…