Culled—Proshare September 25, 2020 By Zedcrest Capital FGN Bonds Yields in the Bonds market continued down the bullish train, as demand from lost bids in the previous day’s FGN bond auction flowed into the secondary market. The market, again, opened uncertain of where levels will settle in the first trading […]
Updates
MIDDAY UPDATE: Nigerian Stocks Inch Up +0.63% on Gains Across Sectors
September 25, 2020/InvestmentOne Update ASI as at 12.00pm: +0.63%. Market movers: NB (+9.82%), NASCON (+9.50%), ROYALEX (-6.90%), and MANSARD (-4.86%). Sector Performances: Consumer Goods (+2.40%), Banking (+1.05%), Oil & Gas (+0.28%) and Industrial (+0.13%). Market activity: In today’s early trade, while total volume fell by 39%, total value rose by 35%, compared to this time yesterday, as investors have traded about 59million units of shares worth approximately N1.40billion. UBA (+0.82%) is […]
MPC Surprise Rate Cut: Limited Impact on Credit Growth
Culled—–Proshare September 24, 2020 By FDC Ltd At its penultimate meeting in 2020, the monetary policy committee (MPC) surprisingly lowered the benchmark interest rate by 100bps to 11.5%p.a. from 12.5%p.a. This is the second rate cut in 2020 and the lowest MPR since 2016. The asymmetric corridor between borrowing and […]
