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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

Best Performer: Transcorp Hotels Plc Gains 1048% in 12-Month Hospitality industry giant, Transcorp Hotels Plc, has dropped a step away…

The naira exchange rates diverged due to imbalance in the volume of foreign currency demanded and supplied in the forex markets. On one side, the naira recorded gain against the US dollar. At the other end, exchange rate worsened.

Sustained selloffs wiped out about N74 billion from the Nigerian Exchange (NGX) equities segment on Wednesday amidst fear of surging inflation.