Author: Olu Anisere

Wema Bank Slumps on Huge Trade Volume, Investors Exit Positions Wema Bank Plc lost more than 8% of its market value on Tuesday due to negative investors’ sentiment. The Nigerian Exchange closed the day negative, and some banking stocks were casualties of profit taking activities that took place in the local bourse. With 50 basis points reduction in the benchmark interest rate, banks’ earnings are projected to be strained, and small lenders are anticipated to face intense rivalry in the industry dominated by five banks. Analysts forecast banks’ earnings will continue to face pressures with regulatory adjustments, reduced FX gains,…

NGX Index Declines by 0.40%, Investors Exit Positions The Nigerian Exchange (NGX) All share index (AIS) plunged by 40 basis points as investors exited positions in banking, oil stock on Tuesday. The local bourse experienced another downturn as bearish sentiments dominating the transaction in some financial stocks. The negative sentiment dragged the All-share index down by 0.40%, closing at 140,929.60 points and year to date return moderated for second trading session. Specifically, Nigerian Exchange market capitalisation dropped by 0.4% to ₦89 trillion, and the year-to-date return fell to 36.92%. The negative trade was driven by profit-taking in medium- and large-cap…

Oil Prices Dip Below $66 as New Deals Boost Supply Outlook Oil price declined below $66 per barrel in the global commodity market on Tuesday, driven by concerns over rising supply following the announcement of a new export deal between Iraq’s central government, its Kurdish region, and oil companies. Brent crude was trading at $65.69 per barrel, down 0.57% from the previous close of $66.07. US benchmark West Texas Intermediate (WTI) decreased by 0.53% to $61.93 from $62.26 in the prior session. Iraq’s Kurdish Regional Administration (KRG) said a tripartite agreement would be signed between Iraq’s central government, the regional…

Two-State Solution: France recognises State of Palestine France, at a conference on Monday, formally recognised the State of Palestine, ahead of the annual gathering of global leaders at the United Nations General Assembly. The time has come to free the 48 hostages still being held by Hamas in Gaza and to stop the bombing, massacres and displacement in the embattled enclave, French President Emmanual Macron told delegates gathered for UN General Assembly in New York. He was speaking at the resumption of the international conference co-chaired with Saudi Arabia focused on the question of Palestine and the two-State solution with…

Rates Tighten, Banks’ Placements at Deposit Facility Rise The short-term benchmark interest rates tightened as sufficient liquidity in the financial system restricted funding costs. The absence of significant funding pressure has kept rates restricted. Banks’ borrowing activities have reduced, and some cash-rich lenders have continued to sterilise excess fund with constant placements with the Central Bank of Nigeria (CBN) deposit facility. The CBN open market operations slowdown strengthened free funds available – keeping banks away from taking bet on short term instruments to augment earnings. The system liquidity surged by N453.21 billion, according to market data released by AIICO Capital…

Nigeria’s Real GDP Grows by 4.23% in Second Quarter of 2025 Nigeria’s real gross domestic product (GDP) grew by 4.23% in the second quarter of the fiscal year 2025, according to data released by the statistics office. In a report, the National Bureau of Statistics (NBS) said the economy expanded further in the second quarter, with real GDP growing by 4.23% year on year, outpacing +3.13% growth posted in the first quarter of the year . The latest figure shows an improvement from the 3.48 per cent growth recorded in the same quarter of 2024, indicating continued recovery and resilience…

Jaiz Bank Falls as Investors Exit Positions Amidst Earnings Forecast Jaiz Bank Plc’s market value dropped by approximately N8.5 billion in the equity market, reflecting investors’ negative sentiment on the Islamic lender’s prospect. Its share price closed at N4.37 on Friday following sell-offs, which is more than 20.5% below its highest market valuation in 52 weeks. Based on data from the Nigerian Exchange, trading volumes were significant throughout, reflecting increased market activity driven by investors seeking to exit positions. The Islamic lender traded against the stock market trend, lost N8.5 billion from its opening value on the Nigerian Exchange last…

Oando Slides as Negative Investors Sentiment Persists The Indigenous energy company, Oando Plc, market value declined, albeit very softly, amidst declining demand for energy stock in the Nigerian stock market. The company, which ranked strongly among top performers in the Nigerian Exchange in 2024, has seen significant price depreciation driven by investors’ negative sentiment. The stock trading pattern reflects heightened volatility spurred by investors’ negative perceptions.Despite strong earnings fundamentals, rock-solid capital expenditure, and an encouraging expansion drive, the oil stock has been falling. The company share price declined to N47.75 on Friday close as the trading data showed that 1.080…

Dangote Cement Declines to N8.71 Trillion on NGX Dangote Cement Plc’s stock market value declined below N9 trillion on the Nigerian Exchange (NGX) as selling pressures outpaced buying interest. The cement company’s share price closed at N516.20 on Friday as 551,027 units valued at N286.849 million were traded in the local bourse. At the close of trading, the market value of Dangote Cement Plc’s 16.873 billion shares outstanding was valued at N8.710 trillion – reflecting negative investors’ sentiment. Trading data from the Nigerian Exchange showed that Dangote Cement Plc lost more than N199.107 billion as the share price fell by…

Crude Oil Prices Edge Higher Week-on-Week over Supply Risks The oil posted a weekly surge in prices as markets reacted to supply risks in Russia and declining US crude inventories. The international benchmark Brent crude traded at $67.35 per barrel at Friday, up around 2.9% from last week’s close of $65.45. Similarly, the American benchmark West Texas Intermediate (WTI) stood at $63.39 per barrel, up roughly 2.7% from $61.70 last Friday. The week began on a positive note, driven by concerns over potential Russian supply disruptions following a series of Ukrainian drone attacks targeting key infrastructure. On September 14, an…