Browsing: Market

Bitcoin Rally Nudges Crypto Market Cap to $2.14 Trillion The latest bitcoin rally has spurred the cryptocurrency market to grow…

Money Market Rates Climb as Banks Borrow N420bn from CBN Money market rates increase significantly as pressure on the financial…

Lagos State Debt Spikes to N2.7 Trillion – Rating Note Lagos state government’s gross debt increased markedly to N2.3 trillion…

Nigerian Equities Market Shrinks as Investors Lose N25bn The equities market capitalisation of the Nigerian Exchange (NGX) slumped by about…

The equities market capitalisation of the Nigerian Exchange (NGX) inched higher as investors gained about N173 billion on Friday. Following a relatively huge rally, the rally halted a six-day negative trend, which lifted key performance indicators by +0.20%, while market capitalization edged higher by +0.31%.

Investors continue search for high yield investment option has continued to trigger portfolio adjustment, rebalancing amidst the worsening inflation condition in Nigeria. Last week, the average yield on Federal Government of Nigeria (FGN) bond spiked by 23 basis points in the secondary market over sustained risk off sentiment on local borrowing instruments.

Selloffs in MTN Nigeria, FBN Holdings and some other stocks dragged the Nigerian Exchange market capitalisation down

Interest Rate on 1-Year OMO Bill Drops by 10bps The interest rate offered on one-year open market operations (OMO bills)…

Oil prices remain under pressure ahead of the Organisation of Petroleum Exporting Countries  (OPEC)

Nigerian US dollar bonds, or sovereign Eurobonds, came under selling pressure on the global market amidst expectations that the US Fed could cut fund rates in the third quarter of 2024