July 26, 2024/InvestmentOne Report The NGXASI declined by 1.95% today to close at 98,201.49pts, as the losses in DANGCEM (-9.99%), GTCO (-1.68%) and ACCESSCORP (-2.63%) drove the domestic bourse into the negative region. In the fixed income space, the Treasury Bills secondary market closed bearish today, driven by the selloffs observed in […]
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Sub-Optimal Demand at the Recent Bond Auction
July 26, 2024/Coronation Research The DMO held its monthly auction of FGN Bonds this week (22, July ’24). It offered N300bn but raised N225.7bn through re-openings of the 19.30% FGN APR 2029, 18.50% FGN FEB 2031 and 19.89% FGN MAY 2033. The bids were allotted at marginal rates of 19.89% […]
Bellwether Counters Triggered -2.3% NGX Weekly Decline Following Rate Hikes to 26.75%
We observed increased sell pressures across industrial goods, consumer goods, and banking stocks, as profit-taking activities in DANGCEM (-10.0%), UBA (-7.9%), FBNH (-4.8%) and DANGSUGAR (-7.3%) triggered a 2.3% w/w decline in the All-Share Index to 98,201.49 points. July 26, 2024/Cordros Report Global According to the Bureau of Economic Analysis […]
