Economy

Equities continue decline with N49b loss

Published

3 months ago

June 26, 2024

Nigerian equities continue on the downward trend yesterday as profit-taking transactions on mid and large cap stocks overshadowed gains by the majority of traded stocks.

Benchmark indices at the Nigerian Exchange (NGX) indicated average decline of 0.09 per cent, equivalent to net capital depreciation of N49 billion.

The All Share Index (ASI)-the value-based common index that tracks all share prices at the NGX, dropped from its opening index of 99,304.12 points to close at 99,217.60 points.

Aggregate market value of all quoted equities also declined from its opening value of N56.175 trillion to close at N56.126 trillion.

With 27 gainers to 23 losers, the negative overall market situation was driven by losses in mid and large-cap stocks, especially Dangote Sugar Refinery, Lafarge Africa, Oando, Zenith Bank and Honeywell Flour Mills.

On the upside, Okomu Oil recorded the highest gain of 10 per cent to close at N291.50 per share. John Holt followed with a gain of 9.79 per cent to close at N3.14. Consolidated Hallmark Holdings increased by 9.43 per cent to close at N1.74 per share. Secure Electronic Technology appreciated by 9.09 per cent to close at 60 kobo while Regency Alliance Insurance rose by 7.14 per cent to close at 45 kobo per share.

On the negative side, Oando led the losers with a drop of 9.75 per cent to close at N12.50 per share. University Press followed with a loss of 9.09 per cent to close at N2.50. Academy Press lost 8.0 per cent to close at N1.84 per share. Honeywell Flour Mills dipped by 7.94 per cent to close at N3.13 while UPDC lost 7.86 per cent to close at N1.29 per share.

The momentum of activities also slowed down, with total turnover dropping by 62.86 per cent to 361.573 million shares valued at N6.163 billion in 8,511 deals. Transnational Corporation (Transcorp) topped the activity chart with 47.509 million shares valued at N581.921 million. Guaranty Trust Holding Company (GTCO) followed with 37.853 million shares worth N1.647 billion. Veritas Kapital Assurance traded 34.951 million shares valued at N31.384 million. FBN Holdings (FBNH) traded 27.402 million shares valued at N548.257 million while Access Holdings transacted 26.980 million shares worth N504.365 million.

Economy

SEE NAIRA Rates Against The USD, GBP, EURO Today September 20, 2024

Published

8 hours ago

September 20, 2024

Naijablitznews

By Mario Deepromoter

The USD was traded at ₦ at the beginning of this September on Monday, September 2, 2024. As at today with USD being traded at ₦1,665 we see a % for United States Dollar to Naira exchange rate for this month.

On this page, we are primarily focusing on the Black Market Dollar To Naira Exchange Rate Today, the USD to Naira currency pair are the most traded currency in the FX market.

Black Market Exchange Rates
Buying Rate
Selling Rate
Dollar to Naira 1665 1657
Pounds to Naira 2227 2200
Euro to Naira 1839 1815
Canadian Dollar to Naira 1221 1213
Rand to Naira 52 43
Dirham to Naira ‎0 0
Yuan to Naira 62 62
G.Cedi to Nair 70 50
CFA F. (XOF) To Naira 0.83 0.81
CFA F. (XAF)

Having full knowledge how much USD to NGN black market exchange rate today will give you a better opportunity to plan and make informed decisions.

Economy

SEC wants govt agencies to list on NGX

Published

14 hours ago

September 20, 2024

Kayode Sanni-Arewa

The Securities and Exchange Commission (SEC) says it will encourage government agencies and state owned enterprises to list on the Nigerian Exchange Ltd. (NGX).

Dr Emomotimi Agama, the Director-General (D-G) of SEC in an interview with newsmen in Abuja on Thursday, said the listing of the companies on the NGX would guarantee democratisation of their operations.

Agama said the listing would also guarantee inclusiveness and wealth creation for citizens.

He said the Commission would provide incentives that would encourage as much state owned enterprises to list.

According to him, inclusivity is very critical, because in it, you have ownership and so we all build our industries and the country together.

The D-G said the SEC was also working towards inclusion via technology, adding that the use of technology would make the capital market more attractive, especially to the younger generation.

“That is why we encourage apps, we encourage fintech tools, and that is why we supported the inauguration of the electronic offering platform at the Nigerian exchange.

”We encourage everyone who wants to participate and is qualified to participate in this process, to turn around the way people see investing.

“We want investors to have a beautiful experience, to make it so easy for them that each time they feel like investing, it brings happiness to them.

”We will continue to do that through encouragement of technology, through education,” Agama said.

He said the Commission would ensure that bottlenecks usually experienced in process of investing in the market were removed to rejuvenate the country’s capital market.

(NAN)

Economy

SEE Naira To Dollar Exchange Rate In Black Market Today – 19th September 2024

Published

1 day ago

September 19, 2024

Naijablitznews

By Mario Deepromoter

The Dollar to Naira exchange rate in the black market, also known as the parallel market (Aboki fx)? Here’s the exchange rate for today, 18th September 2024, based on information from Bureau De Change (BDC) operators

How much is a dollar to naira today in the black market?

As of today, in Lagos Parallel Market (Black Market), the exchange rate for buying a dollar is N1655, while selling is at N1660 on Wednesday, 18th September 2024.

It’s important to note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market) and advises individuals to approach their banks for official Forex transactions.

### Dollar to Naira Black Market Rate Today:
– **Buying Rate**: N1655
– **Selling Rate**: N1660

### Dollar to Naira CBN Rate Today:
– **Buying Rate**: N1651
– **Selling Rate**: N1652

*Note*: These rates may vary slightly based on location and the specific Bureau De Change operator.

### CBN’s Outlook on External Reserves and Economy:

The Central Bank of Nigeria (CBN) has raised concerns over factors that may hinder the growth of Nigeria’s external reserves in 2024/2025. The removal of fuel subsidies, rising import costs, and increased debt servicing are cited as potential threats to the reserves.

This was detailed in the CBN’s Monetary, Credit, Foreign Trade, and Exchange Policy Guidelines for the fiscal years 2024/2025. Despite these challenges, the CBN projects overall economic growth for Nigeria, driven by policies supporting agriculture, oil sector reforms, and foreign exchange market adjustments.

“The outlook for Nigeria’s external sector in 2024/2025 is optimistic,” the CBN noted, with expectations of favorable trade terms due to higher oil prices and improved domestic production. However, the bank also highlighted risks such as lower oil revenues, increased import bills, and rising external debt obligations.