Daily Market Update | 17-08-2023
The Nigerian Equities Market closed positive today as its benchmark index rose by 0.06% to 64,663.78 points. Consequently, its Year-to-Date return printed at 26.17% (Yesterday: 26.10%). The positive market performance was primarily driven by gains in FBNH, DANGSUGAR, FIDELITY, INTBRREW and STERLING offsetting the losses in MTNN, ZENITHBANK, ACCESSCORP and NASCON. Today, FIDELITYBK traded highest […]
July 2023 CPI Report | Removal of PMS Subsidy & FX Liberalization Bites Hard
Earlier this week, the National Bureau of Statistics (NBS) released the inflation report for July 2023. Headline inflation spiked by 1.29% Year-on-Year (YoY) to 24.08% (vs 22.79% in June 2023), marking the highest rate recorded in Nigeria since the reconstitution of the Consumer Price Index (CPI) in 2009. The surge in Headline inflation is on […]
