July 26, 2024/Coronation Research Summary Opening market liquidity was reported at -N379.5bn on Friday (19, Jul ‘24). Call, overnight, and repo rates closed within the range of 9% – 32%, as rates in the money market tightened. Last week, the average NTB yield increased by +156bps to close at 24.9% […]
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ACCESS, GTCO, Dangote Cement Drags NGX Indices to -1.95% Decline
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 […]
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% […]
