Author: Marketforces Africa

Sell pressures hit Nigerian government bonds ahead of Treasury bills auction on Wednesday.

NASCON Rises as Investors Take Position After Dividend Notice NASCON Allied Industries (Ticker: NASCON) experienced a significant boost in its stock price, reaching ₦44 per share, marking a 5.9% increase from the previous closing price of ₦41.55. Early in March, NASCON declared a final dividend of N2.00 for every share of 50 kobo, subject to appropriate withholding tax and approval will be paid to shareholders whose names appear in the Register of Members as at the close of business on April 16, 2025. But its share has been flattish before it started picking, settling higher by about 6% after more…

Northern Nigeria Flour Mills Climbs by 10% in Fresh Rally Northern Nigeria Flour Mills (NNFM) stock market price experienced a remarkable surge today, climbing 9.99% to ₦79.8 per share. This pushed the miller’s market value to N14.22 billion, trading at fair discount to its 52-week high. The significant price surge on Tuesday boosted its stock’s performance after maintaining a steady price of ₦72.55 over the past trading sessions. Analysts said investors has priced its third quarter of 2025 earnings performance in its market value. The flour miller grew profit to N4.111 billion at the end of third quarter of 2025,…

Bullish vs. Bearish Markets: A Guide for Smart Investors The stock market, a dynamic battlefield where investors constantly weigh optimism against fear, growth against decline, and opportunity against risk. Two fundamental terms dominate market discussions: bullish and bearish trends, and investors often prefer the former as it creates wealth. Understanding these concepts can help investors make informed decisions, maximize profits, and protect their portfolios from unexpected downturns. A bullish market reflects optimism, strong economic conditions, and rising stock prices. Investors who are bullish believe that stocks, sectors, or the overall market will continue to climb, creating opportunities for growth. When…

Naira Falls as FX Interventions Fail to Redirect Spot Rate The naira tumbled against the US dollar across foreign exchange markets on Tuesday despite extended intervention by the Central Bank of Nigeria (CBN). US dollar demand heated up the currency market amidst a 25% decline weekly forex inflows in the official window. The Nigerian foreign exchange market experienced significant demand pressure today despite the Central Bank of Nigeria’s (CBN) intervention, which saw the sale of over $44.75 million at rates between N1,522.70 and N1,531, AIICO Capital Limited said in a note to investors. The US dollar to naira pair fluctuated…

Inflows into FX Market Declines by 25% to $1bn Inflows into the Nigerian foreign exchange (FX) market declined by about 25.4% to $1 billion, according to data released by investment firms. This happened amidst aggressive US dollars sold to banks by the Central Bank of Nigeria (CBN) last week.  The Central Bank increased its weekly FX sales to banks as the naira came under intense pressure on the back of surging demand for the US dollar. Total FX sales increased by $183.20 million on Friday, bringing the total FX sales for the week to $543.20 million, TrustBanc Financial Group Limited…

Selloffs in Banking Names Drag NGX Index Down Intraday Banking stocks have remained profit-taking targets for value hunters on the Nigerian Exchange, NGX, due to weak buying sentiment. All the big banks are tracking lower amidst their 2024 earnings delay. The fast-changing narrative in the financial markets has continued to trigger sell pressures.  The market opened the week negative, and it appears there is no end in sight year as investors reacted to an inflation rate slowed down, exiting positions in banking names. The market has seen investors rebalancing portfolios with more exits than entry despite earnings, and dividend announcements…

Naira Falls to N1528 amidst CBN FX Sales to Banks The naira fell against the US dollar in the foreign exchange market as a result of a foreign currency shortage, first trading session after the Apex Bank intervention.  Reflecting tight FX liquidity, the exchange rate worsened at the official window closing at N1528 per greenback as demand exceeded the supply. Hence, the naira depreciated by 0.66% in the official window, closing at N1,528.03 per dollar. Similarly, the naira ended the day at ₦1,570 per dollar in the parallel market. The local currency had witnessed a last-minute rally on Friday as…

Nigerian Exchange Shrinks as Investors Pull Out Funds The Nigerian Exchange, NGX, slumped further against as equities investors pulled out more fund from the local bourse amidst depressed sentiment. The local bourse commenced the new trading week on a negative note, with key performance indicators reflecting mixed results. The All-share index fell by 0.15%, while the market capitalization posted a marginal loss of 0.01%. The disparity in the market indicators was influenced by the Listing of Sterling Financial Holdings Company Plc’s 16,666,666,667 Ordinary Shares of 50 kobo each at ₦4.50 Per Share, through Private Placement on the exchange today. Consequently,…

Foreign Investors Bet on Nigerian Tops Stocks Foreign portfolio investors, FPIs, increase bets IN Nigerian top banks stocks, and other listed companies in the equities market. This followed increased block transactions on stocks as investors’ boycotted the Nigerian Exchange trading platform to stem price fluctuations. Transaction details obtained from sources revealed that offshore investors took positions in Tier-1 banks stock primarily and extended their positions in Brewer, and cement names amidst unending quest for alpha. In a note to investors, AIICO Capital Limited revealed that offshore investors were more active in Guaranty Trust Holding Company, which warehoused GTBank, a strong…