In a downward spiral, the Nigerian Exchange witnessed a setback as losses incurred by key players, including BUA Cement, Sterling Financial Holding Company, Consolidated Hallmark Holdings, UPDC, and The Initiates,…
Category: Markets
News from Nigeria’s capital, currency, commodities, cryptocurrencies and money markets.
Naira Depreciates To N1,433 At Official Market As Banks Sell For $584
In a dynamic twist of events, the Nigerian Autonomous Foreign Exchange Market witnessed a surge in foreign exchange transactions, reaching $584 million, marking a significant leap from the preceding daily…
NGX: Equity Investors Grapple With N437bn Loss As ASI Dips To 103,649 Points
Equity markets experienced a challenging start to the week as investors grappled with a significant loss of N437bn. The All-Share Index and market capitalization of the Nigerian Exchange faced a…
Naira Rebounds At Official Forex Window To N1,419/$, Despite Lingering Parallel Market Concerns
In a surprising turn, the naira displayed resilience at the official forex window, appreciating by 1.09% to close at 1,419.86/$. Central Bank Governor Olayemi Cardoso’s reassurances on tackling currency volatility…
Gold Faces Downward Pressure Despite Surging To $2,060 – TD Securities Anticipates Correction Amidst Strong US Job Data
Gold, which recently reached heights surpassing $2,060, witnessed a sharp decline in response to a robust US labor market report, highlighting the metal’s vulnerability to economic indicators. TD Securities experts…
US Job Surge Puts Pressure On AUD/USD; RBA Decision Looms
The AUD/USD pair faces renewed selling pressure as robust US job data prompts speculation of prolonged Fed interest rate hikes. The US economy added 353,000 jobs in January, exceeding expectations,…
NGX Continues Bullish Run As ASI Appreciates By 1.57%
In a surge, the Nigerian Stock Exchange (NGX) maintained its bullish momentum, propelling the All-Share Index to a 1.57% gain, closing at 104,421.23 points. Dangote Sugar took the lead with…
NGX: Banking Stocks Lead Gainers As ASI Gains 1.63%
The NGX witnessed a resurgence today, shaking off the week’s bearish trend. Banking stocks spearheaded the rally, propelling the All-Share Index to a notable 1.63% gain, closing at 102,802.25 points.…