Author: Marketforces Africa

MarketForces Africa, a Financial News Media Platform for Strategic Opinions about Economic Policies, Strategy & Corporate Analysis from today's Leading Professionals, Equity Analysts, Research Experts, Industrialists and, Entrepreneurs on the Risk and Opportunities Surrounding Industry Shaping Businesses and Ideas.

Equities Investors Gain N6.3Trn as NGX Hits ‘Overbought’

News

Equities Investors Gain N6.3Trn as NGX Hits ‘Overbought’ Equities investors in the Nigerian stock market saw its largest weekly gain of about N6.3 trillion amidst a sustained rally. This local exchange peaked ahead of the earnings festival for the financial year 2023. Bargain hunting has been strong despite economic conditions. In an update, stock market analysts at Cowry Asset Limited stated that the All-share index’s current movement pattern indicates that the market is persistently in the overbought region according to the relative strength index (RSI). The Investment noted that stock valuations and prices have significantly exceeded intrinsic values. This signals…

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CBN Crashes Rates as Investors Oversubscribe OMO Bills Offer

MarketForces Finance

CBN Crashes Rates as Investors Oversubscribe OMO Bills Offer The Central Bank of Nigeria (CBN) crashed spot rates on its open market operation bills at the primary market auction conducted last week. The decline in spot rates registered across tenors was supported by increased subscription levels by investors. The apex bank is offering higher rates on OMO bill auctions than associated interest rate payments on Treasury bill instruments in a bid to attract foreign investors into the market. Due to negative interest yield on naira assets, foreign portfolio investors have reduced significantly. Meanwhile, following lost bids in the primary market,…

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