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Market Updates

Market Updates

NGX sheds N1tn on sell-offs in BUA Foods, banking stocks

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NGX sheds N1tn on sell-offs in BUA Foods, banking stocks The Nigerian equities market displayed notable volatility during trading on Wednesday, closing on a downward trajectory. The benchmark All-Share Index retreated to 243,967.09 points, down from Tuesday’s reading of 246,723.57. Overall equity market capitalisation mirrored this decline, shedding over N1.76tn...
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SEC sets 5pm cutoff for T+1 equities, commodities trade

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SEC sets 5pm cutoff for T+1 equities, commodities trade The Securities and Exchange Commission has fixed 5:00pm on the first business day after a transaction (T+1) as the settlement deadline for equities and commodities traded and settled through the Central Securities Clearing System. The Commission made this clarification in a...
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In New Policy Tweak, CBN Removes Discount Window Restrictions on FX, Government Securities Transactions

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In New Policy Tweak, CBN Removes Discount Window Restrictions on FX, Government Securities Transactions • Broadens OMO participation as individuals, corporates, non-bank financial institutions gain access to market through banks •Resumes tenored repo operations of up to 90 days to deepen liquidity management • Declares reforms designed to improve money...
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Analyst forecasts MPC to hold rate at 26.50%

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Analyst forecasts MPC to hold rate at 26.50% The Monetary Policy Committee of the Central Bank of Nigeria is expected to maintain its current monetary policy stance at the upcoming meeting of central bankers due to a volatile and hostile global energy market. In its latest macroeconomic preview report released...
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