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MONDAY 8/11/2021 – FUEL QUEUES RETURN TO ABUJA, FG ISSUES STRONG WARNING TO DEPOTS Queues resurfaced at fuel stations in parts of Abuja on Friday, prompting the Federal Government to warn depot owners to desist from raising the price of Premium Motor Spirit (petrol) above the approved rate. The PUNCH had reported early this week that queues by motorists for petrol were seen in parts of Abuja, Nasarawa and Niger on Monday, but gradually disappeared on Tuesday. The queues reappeared in parts of Abuja on Friday, as motorists were seen in large numbers in front of some filling stations that were dispensing petrol. It was also observed that some filling stations were shut, despite assurances from the Nigerian National Petroleum Company Limited that it had enough stock. Right in front of the headquarters of the NNPC in Abuja, motorists formed long queues in front of the Total filling station that was dispensing petrol on Friday afternoon, while the Conoil retail outlet just beside it was locked up. Fuel retailers had told our correspondent on Monday that private depot owners raised the price of petrol from the approved N149/litre price to between N154 and N156/litre. But while reacting to the development on Friday, the newly established Nigerian Midstream and Downstream Petroleum Regulatory Authority warned depot owners to desist from increasing petrol price beyond the approved rate. The authority said it had noticed that petrol was being sold above the official price at the loading depots of members of the Depot and Petroleum Products Marketers Association of Nigeria. This, according to the authority, was caused by the erroneous insinuation of an imminent increase in the price of the product.   TUESDAY 9/11/2021 – TRANSACTIONS IN FIXED INCOME, CURRENCY MARKET UP 94.9% Turnover in the fixed income and currency (FIC) market rose to N24.03 trillion in September, 2021, representing a 94.89 percent Month-on-Month (MoM) increase compared to N11.7 trillion in August. This also represents a 70.79 percent Year-on-Year (YoY) increase from N14.07 trillion recorded in September, 2020. This is contained in FMDQ Exchange Limited’s Fixed Income and Currency (FIC) Market Summary for September, 2021. Breakdown of transactions in the FIC market for the period showed that Foreign Exchange (FX) and money market transactions remained the highest drivers of turnover, jointly accounting for 54.22 percent of the total FIC markets turnover in September 2021 at N7.05 trillion and N5.98 trillion respectively. OMO and CBN Special Bills’ contribution to FIC Market turnover stood at N5.76 trillion, representing 23.96 percent of the total FIC market turnover for the period. Treasury Bills (TBs) accounted for N2.87 trillion or 11.95 percent of the total market turnover, while FGN bonds and other bonds accounted for N2.37 trillion, representing 9.86 percent of the total FIC market turnover. Further breakdown showed that total FX market turnover in September 2021 at N7.05 trillion, was 87.08 percent increase from the turnover recorded in August 2021.   WEDNESDAY 10/11/2021 – INVESTORS ON NGX GAIN N252.42BN AS YTD RETURN HITS 8.59% The stock market of the Nigerian Exchange Limited (NGX) yesterday sustained its positive sentiment, gaining N252.42billion as investors renewed interest in Airtel Africa Plc and 23 others.. The market positive performance was driven by price appreciation in large and medium capitalised stocks which are; Airtel Africa, MTN Nigeria Communications (MTNN), Ardova, Lafarge Africa and UAC of Nigeria (UACN). However, the overall market capitalisation value rose by N252 billion to close at N22.821 trillion from N22.569trillion it opened for trading yesterday. Consequently, the NGX All-Share Index (ASI) increased by 483.68 basis points, representing a rise of 1.12 per cent, to close at 43,730.55 points from 43,246.87 basis points. .Across sectors, gains in the Industrial Goods (+0.2 per cent), Consumer Goods (+0.2 per cent), Oil & Gas (+0.1 per cent), and Banking (+0.1 per cent) indices reflected the overall market performance. However, the Insurance (-0.3 per cent) index declined. The market breadth closed positive, recording 24 gainers as against 16 losers. Associated Bus Company an FTN Cocoa processors recorded the highest price gain of 10 per cent each to close at 33 kobo and 44 kobo, respectively, while Ardova Plc followed with a gain of 7.38 per cent to close at N14.55, per share. UACN up by 7.14 per cent to close at N11.25, while Livestock Feeds appreciated by 6.83 per cent to close at N2.19, per share. On the other hand, Berger Paints Nigeria led the losers’ chart by 9.52 per cent to close at N8.55, per share. Caverton Offshore Support Group followed with a decline of 9.09 per cent to close at N1.70, while University Press declined by 7.39 per cent to close at N2.13, per share. Regency Alliance Insurance declined by 6.82 per cent to close at 41 kobo, while Conoil Plc shed 5.65 per cent to close at N21.70, per share.   THURSDAY 11/11/2021 – SPECULATORS LOSE BILLIONS AS NAIRA APPRECIATES, EXCHANGES FOR 540/$ The naira has appreciated further in the parallel market as the dollar was sold for N540 on Wednesday, with traders saying speculators hoarding dollars would be losing a lot of money. The dollar, which was bought and sold for N578 and N580 as of the end of September, was bought and sold for N540 and N543 at the parallel market on Wednesday. Several Bureau de Change operators who spoke to our correspondent said the demand for foreign exchange was not high. “Many people who travelled have arrived and there is no high demand for forex as many people are not travelling now,” a BDC operator said. Another operator said, “The naira had been appreciating and many who have kept the forex would be losing a lot.” At the Investor & Exporter forex window, the naira appreciated by 0.8 per cent to close at N414.73 on Wednesday, although it fell to a low of N444 during the day. The Central Bank of Nigeria, however, maintained the official rate at N411.37 on its website.   FRIDAY 12/11/2021 – STOCK MARKET SHEDS N51BN AS INVESTORS TAKE PROFITS The Nigerian equities market fell for the second consecutive day on Thursday, with the total market value losing  N51.27bn as investors took profits in MTN Nigeria Plc and some other stocks. The All-Share Index of the Nigerian Exchange Limited dipped by 0.22 per cent at the end of trading to 43,609.06 basis points from 43,730.55bps on Wednesday while the market capitalisation fell to N22.76tn from N22.81tn. The investor activity was bearish as trading volume fell by 40.41 per cent to 161.31 million units valued at N2.14bn in 3,574 deals from 270.70 million units valued at N5.63bn in 3,861 deals on Wednesday. The sectoral performance was also negative as three of the major five indices closed lower. The NGX Banking, Insurance and Industrial Goods indices dropped by 0.95 per cent, 0.93 per cent, and 0.1 per cent respectively, while the NGX Consumer Goods Index gained 0.02 per cent. The oil and gas index closed flat on Thursday at the end of trading. FBN Holdings Plc was the most traded stock on Thursday, accounting for 17.45 per cent of the total trading volume. MTN Nigeria Plc accounted for 18.94 per cent of the total value of trades, emerging as the most traded stock by value.