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Daily Business News Brief – November 20th, 2023

20
Nov

Financial stocks lead NGX activities, drive volume by 59.4 per cent
• Weekly FMDQ FX turnover rises by 17% to $793m – Guardian
The financial services industry dominated in volume terms at the end of last week’s transactions at the Nigerian Exchange Limited (NGX).
It led the activity chart with 1.2 billion shares valued at N11.5 billion in 12,775 deals, contributing 59.4 per cent to the total equity turnover volume.
The oil and gas industry followed with 328.7 million shares worth N3.2 billion in 4,713 deals, then the services industry with a turnover of 131.2 million shares worth N539.7 million in 2,263 deals……………….. .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More

Yuguda: $1tn Economy by 2026 Achievable Through Capital Market – Thisday
The Director General, Securities & Exchange Commission (SEC), Mr. Lamido Yuguda has hinted that the $1 trillion economy target by President Bola Tinubu-led federal government is achievable through the capital market.
President Bola Tinubu recently said the Nigeria’s economy can grow to $1 trillion by 2026, adding that a $3 trillion Nigerian economy is possible in 10 years……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

SEC to monitor capital market operations real-time – Guardian
Infractions in the country’s capital market may soon become a thing of the past as the Securities and Exchange Commission (SEC) is currently deploying new technology that would enable it to monitor market operations real-time.
The Commission also stated that its willingness to support the federal government in bridging the infrastructure gap and attaining a $1 trillion economy remains a key priority in 2024.
… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Stock market literacy boosts women’s financial future – NGX RegCo – Punch
NGX Regulations Limited, the regulatory arm of the Nigerian Exchange Group, has said that stock market literacy has the ability to secure women’s financial future.
This was revealed at the launch of its ‘EquipHER’ initiative at its headquarters in Lagos. …………… …. …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Top 10 penny stocks outperforming Nigeria’s inflation rate – Nairametrics
Nigeria’s headline inflation rate surged to 27.33% in October 2023, marking a 0.61% increase from September’s 26.72%.
Year-on-year, this represents a substantial 6.24% rise compared to October 2022, when the inflation rate was at 21.09%.
The impact of such inflation on investments is crucial to understand, as it erodes the purchasing power of money over time…………………… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Raw materials gulp N534bn in BUA Foods, Dangote firms – Punch
Food companies, BUA Foods, Dangote Sugar Refineries Plc and Nason Allied Industries Plc spent over N534bn on raw materials in September 2023.
The total amount that the three listed firms spent on raw materials in the period under review stood at N534.09bn, which is 18.10 per cent higher than the amount spent on raw materials in 2022, which was N452.22bn,……………………. …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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