The NSE All-Share Index and Market Capitalization depreciated by 0.74% to close the week at 36,646.46 and N12.631 trillion respectively. Similarly, all other Indices finished lower during the week with the exception of the NSE Main Board, NSE Banking and NSE Consumer Goods Indices that appreciated by 1.34%, 0.31% and 2.38% respectively.
A total turnover of 1.538 billion shares worth N24.218 billion in 19,187 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.394 billion shares valued at N25.037 billion that exchanged hands last week in 23,133 deals
Equity investment records highest in capitaFG faces financial uncertainty as investors shun new bond issue
Insurance stocks: Operators, NSE move to attract investors
Operators in the insurance industry and the Nigerian Stock Exchange are strategising on how to improve the value of insurance stocks and attract investors to the industry.Read more http://punchng.com/
FG moves to boost agric export via seaports
Federal Government at the weekend, said that it has put in place every infrastructure to promote the exportation of solid minerals and agriculture produce through the seaports.
Managing Director of Nigerian Ports Authority (NPA), Ms Hadiza Bala Usman, who made the announcement at the 10th Nigeria international Maritime Ports and Terminals Expo and Conference (NIMPORT 2017) in Lagos said that the current management of NPA is working in tandem with the establishments and firms outside the country to ensure a most robust relationship for increased bilateral trade ties on a mutual basis.Read more http://sunnewsonline.com/
How Nigeria can attract huge investment, by SBM chief, others
For Nigeria to pull huge investment into the country, the need for government to make the incentives policies and regulatory framework more attractive and less stringent has been stressed.The Chairman, State of Mauritius Bank Group, Kee Chong Li Kwong Wing, in an interview with The Guardian during the launch of the $300million equity offering issued through the Stock Exchange of Mauritius, said Nigeria needed some facilitation and incentives to make it become more attractive for investment.Read more http://guardian.ng/
Bear dominance to continue this week
THE downward trend in the equities market will continue this week amidst bargain hunting and profit taking activities, capital market operators have said.They noted that the strength of sell pressure over buy pressure will guide the equities index lower in the absence of fundamental drivers to determine investors’ sentiment.Read more at: https://www.vanguardngr.com/
10 Commercial Banks Rake In N26.8bn As Account Maintenance Fee
A total of 10 commercial banks that include Zenith Bank Plc, Access Bank Plc, United Bank for Africa Plc (UBA) have reported N26.8 billion on current account maintenance fee in six months. Others are Guaranty Trust Bank Plc, First Bank of Nigeria Holdings Plc, Sterling Bank Plc, FCMB Group Plc, Diamond Bank Plc, Union Bank of Nigeria Plc and Unity Bank Plc.Read more http://leadership.ng/
$14.1b forex deals attract investors
Foreign investors’ confidence in the economy is rising. The feat is attributed to the $14.1 billion combined foreign exchange (forex) deals from the Investors’ & Exporters’ FX Window – I&E FX Window- and the Central Bank of Nigeria’s (CBN’s) weekly dollar interventions, The Nation has learnt.
Despite price slump, banks prefer oil sector to manufacturing, agriculture
An analysis of sectoral allocation of banking sector credit from 2015 to date has shown that banks pump more money into oil and gas than the manufacturing and agriculture sector.This is even as the Federal Government is intensifying efforts to diversify the economy away from oil and focus more on the non-oil sector of the economy.Read more https://www.dailytrust.
FG faces financial uncertainty as investors shun new bond issue
Uncertainty is growing in Nigeria’s bond market as falling investor demand combines with rising yields at a time that Africa’s largest economy is financing a record budget for the second year running. Higher yields on Government bonds failed to attract buyers at the Federal Governments (FG) last bond auction, as bears shunned the sale, betting…Read more http://www.