- CBN Cuts Rate on 364-Day Nigerian Treasury Bills, Rejects N2.4trn
- Iran Vows to Maintain Tighter Control Over Strait of Hormuz
- IMF Commends Zimbabwe’s Economic Resilience After Programme Review
- Afreximbank, Gebeya unveil $50,000 CANEX Create-thon for African creatives
- Nigerian Naira Softens as NFEM Interbank FX Turnover Plunges
- United Capital Microfinance Bank grows capital to N5.6bn
- Lagos Issuer Rating Upgraded as State’s Leverage Metrics Improve
- Equities Investors Lose N648bn as Bears Regain Control on NGX
MarketNews
The Central Bank of Nigeria (CBN) further chopped the discount rate on Nigerian Treasury bills
Sell Down: Dangote Sugar Trades at 64% Discount to 52-Week Despite the Santa Claus rally…
NAHCO Gains 22% as Earnings Expectation Boosts Investors Sentiment Nigerian Aviation Handling Company, NAHCO Plc’s…
The equities market capitalisation of the Nigerian Exchange, NGX, grew by N10.6 trillion as insurance, banking, and consumer goods indices drove rallies that lasted for four out of five days. The local bourse extended its winning streak in the just-concluded week, achieving a historic milestone as the benchmark NGX All-Share Index (ASI).
Equities investors lost more than N72 billion as selloffs halted eight days of gaining streaks on the Nigerian Exchange on Friday. Trading session ended negative due to profit-taking activities on Aradel Holdings, halting an eight-day rally.
The average yield on Nigeria’s Eurobond rose as foreign portfolio investors (FPIs) liquidated positions amidst U.S. interest rate cuts. The risk-off reactions followed sustained monetary easing in the U.S. amidst expectations that a rate cut would cause a flight to safety in 2025.
Liquidity Deficit in Banking System Keeps Interbank Rates Elevated The liquidity deficit in the banking…