Spackman Media Group Artist Kim Sang-Kyung’s K-Drama, POONG, THE JOSEON PSYCHIATRIST, Breaks Its Own Highest Viewership Records, Ranking First Across All TV Channels In Korea

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  • Headlined by Spackman Media Group artist Kim Sang-kyung, POONG, THE JOSEON PSYCHIATRIST surpassed its own highest viewership records, securing the top spot for its time slot across all TV channels in Korea
  • The tvN K-drama recorded an average viewership rating of 5.0% to 5.9% for households nationwide for its latest episode aired on August 16, as compared to the broadcaster’s average viewership rating of 2.2% to 2.6%
  • Previously, Kim Sang-kyung starred in AIR MURDER, which was co-produced by the Group’s indirectly wholly-owned subsidiary Platform Media Group and was the #1 Korean film at its opening weekend box office in Korea

SINGAPORE – Media OutReach – 17 August 2022 – Spackman Entertainment Group Limited (the “Group“), one of Korea’s leading entertainment production groups founded in 2011 by media & technology investor Charles Spackman, wishes to announce that the tvN K-drama, POONG, THE JOSEON PSYCHIATRIST, headlined by veteran actor Kim Sang-kyung of Spackman Media Group Limited (“Spackman Media Group“), broke its own highest viewership records, taking the top spot for its time slot across all TV channels in Korea.

The latest episode of Kim Sang-kyung’s latest K-drama, POONG, THE JOSEON PSYCHIATRIST, posted an average viewership rating of 5.0% to 5.9% for households nationwide on August 16, as compared to the broadcaster’s average viewership rating of 2.2% to 2.6%, based on Nielson Korea, an audience rating research company.

The solid performance of POONG, THE JOSEON PSYCHIATRIST underscores the star power of Kim Sang-kyung, who previously starred in Korean film AIR MURDER, which was co-produced by the Group’s indirect wholly-owned subsidiary, Platform Media Group Co., Ltd. and was ranked as the top Korean film at its first weekend box office in Korea.

POONG, THE JOSEON PSYCHIATRIST is based on the novel of the same name that won the Excellence Award in the 2016 Korea Story Contest. Directed by Park Won-gook, written by Park Seul-gi, Choi Min-ho & Lee Bom, and produced by Studio Dragon, the Joseon era drama depicts the redemption of a disgraced royal physician who becomes a well-respected psychiatrist in a small village. Along with Kim Sang-kyung, POONG, THE JOSEON PSYCHIATRIST features Kim Min-jae of DALI AND COCKY PRINCE (2021) and Kim Hyang-gi of ALONG WITH THE GODS (2017-2018).

Previously, Kim Sang-kyung of Spackman Media Group starred in SBS drama RACKET BOY BAND (2021), which was released on Netflix & SBS. He also starred in tvN’s and Netflix’s THE CROWNED CLOWN (2019). Kim Sang-kyung won the Jury Special Award for his role in THE DISCLOSER (2017) at the 38th Golden Cinematography Awards. He is widely known for his leading roles in MEMORIES OF MURDER (2003), directed by Bong Joon-ho of PARASITE (2019) and the Group’s 2013 US production SNOWPIERCER. Kim Sang-kyung won the Jury Special Award at the 38th Golden Cinematography Awards in 2018 and the Excellence Award & Netizen Award at the 2014 KBS Drama Awards.

Hashtag: #SpackmanEntertainmentGroup

About Spackman Entertainment Group Limited

Spackman Entertainment Group Limited (“SEGL” or the “Company“), and together with its subsidiaries, (the “Group“), is one of Korea’s leading entertainment production groups. SEGL is primarily engaged in the independent development, production, presentation, and financing of theatrical motion pictures in Korea.

The Company was founded in 2011 by renowned media and technology investor Charles Spackman who served as the Company’s Executive Chairman until 2017. For the past two decades, Mr. Charles Spackman has been a powerhouse in the Korean entertainment industry starting in the early 2000’s with the pioneering success of Sidus Pictures, the largest movie production company at the time and the first to be listed in Korea. Mr. Spackman is also the Founder, Chairman and Chief Executive Officer of the global investment firm, Spackman Group. For more information, please visit and .

Since its founding, SEGL had produced more than 30 major motion pictures including a number of the highest grossing and award-winning films in Korea, namely #ALIVE (2020), CRAZY ROMANCE (2019), DEFAULT (2018), MASTER (2016), THE PRIESTS (2015), SNOWPIERCER (2013), COLD EYES (2013) and ALL ABOUT MY WIFE (2012).

Our films are theatrically distributed and released in Korea and overseas markets, as well as for subsequent post-theatrical worldwide release in other forms of media, including online streaming, cable TV, broadcast TV, IPTV, video-on-demand, and home video/DVD, etc. Generally, we release our motion pictures into wide-theatrical exhibition initially in Korea, and then in overseas and ancillary markets.

The Group also invests into and produces Korean television dramas. In addition to our content business, we also own equity stakes in entertainment-related companies and film funds that can financially and strategically complement our existing core operations. SEGL is listed on the Catalist of the Singapore Exchange Securities Trading Limited under the ticker 40E.

Production Labels

SEGL owns Novus Mediacorp Co., Ltd. (“Novus Mediacorp“), an investor, presenter, and/or post-theatrical distributor for a total of 79 films (58 Korean and 21 foreign) including ROSE OF BETRAYAL, THE OUTLAWS and SECRETLY, GREATLY, which was one of the biggest box office hits of 2013 starring Kim Soo-hyun of MY LOVE FROM THE STARS, as well as FRIEND 2: THE GREAT LEGACY. In 2012, Novus Mediacorp was also the post-theatrical rights distributor of ALL ABOUT MY WIFE, a top-grossing romantic comedy produced by Zip Cinema. In 2018, THE OUTLAWS, co-presented by Novus Mediacorp broke the all-time highest Video On Demand (“VOD“) sales records in Korea. For more information, please visit

The Company owns a 100% equity interest in Simplex Films Limited (“Simplex Films“) which is an early stage film production firm. The maiden film of Simplex Films, JESTERS: THE GAME CHANGERS (2019), was released in Korea on 21 August 2019. Simplex Films has several line-up of films including HURRICANE BROTHERS (working title).

The Company owns a 100% equity interest in Take Pictures Pte. Ltd. (“Take Pictures“) which produced STONE SKIPPING (2020) and THE BOX (2021), and shall release THE GUEST in the second half of 2022 and A MAN OF REASON, with the previous working title GUARDIAN in 2022 tentatively.

The Company owns a 100% equity interest in Greenlight Content Limited (“Greenlight Content“) which is mainly involved in the business of investing into dramas and movies, as well as providing consulting services for the production of Korean content. Through the acquisition of Greenlight Content, the Group’s first co-produced drama, MY SECRET TERRIUS, starring top Korean star, So Ji Sub, achieved #1 in drama viewership ratings for its time slot and recorded double digits for its highest viewership ratings. Greenlight Content was one of the main investors of MY SECRET TERRIUS.

The Company owns a 20% equity interest in The Makers Studio Co. Ltd., which plans to produce and release four upcoming films, the first of which will be THE ISLAND OF THE GHOST’S WAIL, a comedy horror film.

Talent Representation

The Company holds an effective shareholding interest of 43.88% in Spackman Media Group Limited (“SMGL“). SMGL, a company incorporated in Hong Kong, together with its subsidiaries, is collectively one of the largest entertainment talent agencies in Korea in terms of the number of artists under management, including some of the top names in the Korean entertainment industry. SMGL operates its talent management business through renowned agencies such as MSteam Entertainment Co., Ltd. (Son Ye-jin, Wi Ha-jun, Lee Min-jung, Ko Sung-hee), SBD Entertainment Inc. (Son Suk-ku, Han Ji-hyun, Lee Cho-hee, Park Keun-rok), UAA&CO Inc. (Kim Sang-kyung, Kim Hye-ri, Kim Ji-young, Wang Ji-won), Play Content Co., Ltd. (Kang Min-ji, Hwang-hwi) and Kook Entertainment Co., Ltd. (Baek Si-won, Shin Ji-woong). Through these full-service talent agencies in Korea, SMGL represents and guides the professional careers of a leading roster of award-winning actors/actresses in the practice areas of motion pictures, television, commercial endorsements, and branded entertainment. SMGL leverages its unparalleled portfolio of artists as a platform to develop, produce, finance and own the highest quality of entertainment content projects, including theatrical motion pictures, variety shows and TV dramas. This platform also creates and derives opportunities for SMGL to make strategic investments in development stage businesses that can collaborate with SMGL artists. SMGL is an associated company of the Company. For more information, please visit

The Company owns a 100% equity interest in Constellation Agency Pte. Ltd. (“Constellation Agency“). Constellation Agency, which owns The P Factory Co., Ltd. (“The P Factory“) and Platform Media Group Co., Ltd. (“PMG“), is primarily involved in the business of overseas agency for Korean artists venturing into the overseas market. The P Factory is an innovative marketing solutions provider specializing in event and branded content production. PMG is a talent management agency which represents and manages the careers of major artists in film, television, commercial endorsements and branded entertainment.

Strategic Businesses

The Company also operates a café-restaurant, Upper West, in the Gangnam district of Seoul and own a professional photography studio, noon pictures Co., Ltd.

For more details, please visit

Over 9,000 Malaysians Raise Funds for Environmental Sustainability with #ShopeeGivesBack

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Donors pledge their support for a more sustainable nation, with 61% donating for the first time

KUALA LUMPUR, MALAYSIA – Media OutReach – 17 August 2022 – #ShopeeGivesBack, Shopee’s long-term community initiative, has raised over RM48,000 from 1 May 2020 to 31 July 2022 for two Non-Governmental Organisations (NGOs) championing environmentally-conscious efforts in Malaysia. Over two years, WWF-Malaysia and Zero Waste Malaysia received donations from over 9,000 donors, including over 5,500 first time donors.

Snapplify announces expansion in Australia to support education

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Impactful edtech company empowers educators, parents, and students around the world

MELBOURNE, AUSTRALIA – EQS Newswire – 17 August 2022 – Global edtech company Snapplify ( (Jean Vermeulen (Head of Teacha!), Mark Seabrook (Operations Director) and Wesley Lynch (CEO) from Snapplify)

Video:

Bolt Announces The Return Of Driver’s League Competition With Overall Prize Value Of N20 Million

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As part of its recognition and appreciation for service excellence, Bolt has brought back its Driver’s League competition for new and existing drivers on the platform across Nigeria.

The Bolt Driver’s League competition in its third edition is a driver support initiative aimed at celebrating top performing drivers on the platform by rewarding winners with brand-new cars and other prizes.

Similar to the 2021 edition, the competition will be held for an 8-week period with drivers grouped into different leagues. Overall winners will be selected from the leagues and rewarded with prizes of an overall value of N 20 million including brand-new cars as well as home appliances. The Driver’s League contest showcases Bolt’s commitment to advancing and easing mobility in Nigeria while also supporting the economy with extra earning opportunities.

Commenting on the initiative, Regional Manager for Bolt in West Africa, Ireoluwa Obatoki, said, “We launched this driver support initiative in 2020 and have continued it because we have seen an impressive level of dedication from our community of drivers… The Driver’s League initiative is just one of the ways we appreciate and reward drivers on the Bolt platform for staying with us throughout the year. We have other initiatives focused on driver welfare, including health insurance for top drivers, on-trip accident insurance amongst others, but the Driver’s League initiative is the big scheme we like to have towards the end of the year. The team at Bolt remain committed to the welfare of drivers and and wish to use this as a channel to demonstrate our appreciation to drivers who are central to our operations.”

The Bolt Driver’s League is divided into a Rookie League, Premier League and Championship. The Championship and Premier League are both for existing drivers and will be rewarded with brand-new cars, while the Rookie League is created for new drivers on the Bolt platform. Drivers will be evaluated based on different criteria unique to the different leagues including trips taken, online hours, quality of service , and so on. The contest which is scheduled to run till the 2nd of October 2022 will also award other prizes including refrigerators, washing machines, and other home appliances.

Since it began the yearly driver reward campaign in 2020, Bolt has rewarded drivers with brand-new cars worth over N50,000,000, over N1,000,000 worth of fuel vouchers, household appliances, gift hampers and other gifts worth millions of naira to participating drivers.

The Unexpected Impact Of High Volume Of Road Accidents

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The Unexpected Impact Of High Volume Of Road Accidents

Around 1.3 million people die globally each year as a result of road traffic accidents. According to new findings by the World Health Organisation (WHO), more than half of all road traffic deaths are among vulnerable road users: pedestrians, cyclists, and motorcyclists.

Shockingly, road traffic injuries are also the leading cause of death for children and young adults aged 5-29 years.

As a continent, Africa has the highest road accident death rates in the world, with Nigeria topping the list of African countries with the most traffic accident-related fatalities. Speeding is the leading cause of accidents in Nigeria, followed by traffic sign and light violations, wrongful overtaking, and dangerous driving. According to the National Bureau of Statistics, 1834 people died out of 3,345 road accidents that occurred in the country between January and March 2022.

These are bleak statistics, made even more grim when the death toll rises among injured drivers, passengers, and pedestrians, following prolonged hospitalisation.

How can being taken care of in a hospital have negative outcomes?

“When a patient injured in a traffic accident is in the hospital undergoing treatment, they’re often immobile for lengthy bouts of time during recovery. Being immobile for prolonged periods of time increases the risk of a person developing thrombosis, or blood clots,” says thrombosis specialist and leading Nigerian haematologist, Dr Helen Okoye. Additionally, patients who have blood vessel trauma due to surgery or because of injuries from a traffic accident are even more likely to develop blood clots,

According to  World Thrombosis Day (WTD), a global movement which aims to increase global awareness of thrombosis, more people die from life-threatening conditions caused by thrombosis than the total number of people who lose their lives to AIDS, breast cancer, and car crashes combined.

Blood clotting is a natural occurrence in our bodies as it stops the blood flow from a cut or injury, but when clots develop unnecessarily, they can become life-threatening. A clot can slow or block normal blood flow and even break loose and travel to an organ, which can cause a heart attack, stroke, or venous thromboembolism (VTE) — the top three cardiovascular killers.

Being in hospital is a major risk factor for the development of venous thromboembolism (VTE), explains Dr Okoye. VTE is a potentially fatal medical condition in which a blood clot forms in the deep veins of the leg, groin, or arm (known as deep vein thrombosis (DVT) and travels through the circulatory system, eventually lodging in the lungs (known as pulmonary embolism (PE).

According to data from WTD, up to 60% of all VTE cases occur during or within 90 days of hospitalisation, making it a leading cause of preventable hospital death.

Understanding your risk and preventing VTE

Because VTE can occur without any warning signs or symptoms and can go unrecognised and undiagnosed by healthcare professionals, it is important that hospitals conduct a VTE risk assessment on patients who are being treated following traffic accidents. This is a simple questionnaire that collects information such as age, medical history, medications, and specific lifestyle factors of a patient to gauge their risk of developing blood clots.

Based on the assessment, the doctor will then send the patient for further tests to verify if they do have a blood clot. Some of these tests are a blood test called a D-Dimer, an ultrasound of the arm or leg to look for the DVT, or a CTPA scan of the chest with intravenous dye to look for a PE.

 

It’s crucial for all patients who have been involved in a road accident and who are admitted to hospital to receive a risk assessment, advises Dr Okoye. “If a doctor doesn’t do a risk assessment, the patient or their family should ask the doctor for one. Don’t be scared to be proactive and ask the doctor,” she says. This is because scientific evidence suggests that VTEs are often preventable, and evidence-based prevention strategies can stop the development of clots in ‘at-risk’ individuals.

 

Treatment of ‘at-risk’ patients

Any individual found to be at increased risk for developing blood clots should be given treatment either in the form of anticoagulants, which thin the blood and stop blood from further clotting (but do not break up the blood clots), or thrombolytic therapy (clot busters), or through mechanical devices such as compression stockings. Hospital patients may also be instructed to move around and do foot or leg exercises as soon and as often as possible.

Ensuring that those who make it through the other side of such horrible incidents do not succumb to this often overlooked and easily preventable side-effect of road accidents is vital to reducing the death and disability caused by VTE.

It’s a sobering fact that not only in Nigeria, but globally, traffic accidents are a serious matter – this in-real-time look at daily accidents paints a stark picture. And, although Africa only has four percent of the world’s motor vehicles, African roads witness more than 10% of the world’s total collision fatalities – an alarming figure that is only set to grow as urbanisation, motorisation, and population growth increases.

Domestic Bourse Rebounds As NGX ASI Gains 16bps

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Domestic Bourse Rebounds As NGX ASI Gains 16bps

At the end of yesterday’s trading session, the Nigerian All Share Index closed in green, rising by 0.16% to close at 49,709.46 points.

The performance was due to buying pressures in large-cap stocks such as BUACEMENT (+2.63%) and ZENITHBANK (+0.46%). Consequently, the YTD return increased to 16.37% as market capitalisation improved by ₦43.15 billion to close at ₦26.81 trillion.

The sectoral performance marginally weakened as three of the five indices under coverage declined. The Insurance index, the biggest loser, declined by 0.97% on WAPIC (-6.82%). The Oil & Gas and Consumer Goods indices followed suit, falling by 0.12% and 0.11% on ETERNA (-4.76%) and PZ (-9.27%). On the flip side, the Industrial and Banking indices, the gainers, improved by 0.96% and 0.31% on BUACEMENT (+2.63%) and ZENITHBANK (+0.46%) respectively.

Investors’ sentiment weakened as the market breadth decreased to 0.45x from 0.71x. This was illustrated by the advance of 10 stocks, led by CUTIX (+7.50%) and LASACO (+5.88%) and the decline of 22 stocks, led by UPDCREIT (-9.86%) and PZ (-9.27%). Activity level weakened as the total volume and value declined by 3.17% and 25.02%, as investors exchanged about 204.16mn units of shares worth over ₦1.64bn.

We expect positive sentiment to persist in the next trading session as the equities market still presents decent opportunities for investors chasing positive real returns on investments.

Fixed Income
There was relatively quiet activity across the bond yield curve as three of the four bond yields under coverage closed flat while the yield on the FGN-JUL-2030 increased by 9bps. The yields on the FGN-APR-2023, FGN-MAR-2024 and FGN-JAN-2026 bonds closed flat at 9.30%, 10.97% and 12.76% respectively.

The Treasury bill yields for the 91, 182 and 364-day papers closed flat at 3.94%, 10.51% and 6.81% respectively.

 We expect market activity to be influenced by the liquidity levels in the financial system.

MARKET SNAPSHOT

  • Domestic Bourse Rebounds as NGX ASI Gains 16bps
  • Quiet Activity Level across the Bond Yield Curve
  • Positive Performance in Global Stocks
  • Commodities Market Closes in Red
  • Mixed Performance in African Stocks

 

Unity Bank Rolls Out Yanga Market Penetration Campaign, Targets Millions Of Underbanked Women

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Unity Bank Rolls Out Yanga Market Penetration Campaign, Targets Millions Of Underbanked Women

Retail lender, Unity Bank Plc has deployed a new marketing campaign targeted at reaching millions of women entrepreneurs, especially the underbanked across Nigeria with its new retail product, the Yanga account.

Starting this August, the lender shall deploy strategic marketing campaigns leveraging several channels including the traditional and digital media to drive value proposition and increased adoption of the Yanga product.

The Yanga account, which was launched by the lender in November 2021 in line with Unity bank’s strategic vision of being “Nigeria’s retail bank of choice” debuted in four geographical locations: Mararaba/Nassarawa state, Ibadan/Oyo state, Uyo/Akwa Ibom state and Gombe/Gombe state.

Commenting on the new Yanga Market Penetration Campaign, the Divisional Head, Retail and SME, Mr Olufunwa Akinmade stated that “having launched the Yanga Account, unveiled Veteran Actress, Sola Sobowale as “Mama Yanga’’, the new campaign is intended to further provide the engagement platform to empower core target of the product existing in our communities and found amongst millions of underbanked women”.

The product targets women entrepreneurs in the Micro, small and medium enterprises, MSME space, especially the underbanked, offering savings and investment, capacity building, agency banking, dedicated agents, medical insurance and microloans to the women, thereby deepening financial inclusion.

The marketing drive includes a well-targeted television commercial featuring the Bank’s brand ambassador, the award-winning Nollywood actress, Sola Sobowale who was crowned “Mama Yanga” at the launch of the product in November last year because of her strong appeal to the target market. Across the multiple channels deployed for the campaign, “Mama Yanga” will be sharing the stories of how Yanga is empowering women and changing lives across Nigeria.

Yanga is available to all women entrepreneurs nationwide, even as the Bank continues to drive strategic activations of the product across various locations in the country. So far, the activation train has been to Lagos, Nasarawa, Gombe, Akwa Ibom, Port Harcourt and Ibadan.

Seeking to promote financial inclusion and cater to the unbanked women entrepreneurs, the new retail product is designed to deepen its beneficial impact on Micro Small and Medium Enterprises, MSMEs operated by women in the mass-market retail space.

The product comes on the heels of Nigeria’s growing imperative to boost access to financial services by women as a recent EFInA report, suggests, “There are 51 million Nigerian women above 18 years of age, with over 41% of them unbanked.”

Double Cheesy Chills With The Domino’s Pizza Online Buy One Get One Free

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Double Cheesy Chills With The Domino’s Pizza Online Buy One Get One Free

Yooo! Staying chilled is still the goal all through August and Domino’s Pizza is excited to go with you all the way. You know there’s no fun without chills, right? Well, your number one Pizza brand has you covered and locked in throughout August offers, and now with another exciting awoof promo.

 

 

Let’s tell you about it. Ever heard of two pizzas for the price of one? Well, that’s the incredible offer Domino’s Pizza is offering you from 15th till 18th of August & 22nd till 25th August; you get AMAZING SAVINGS when you buy one medium classic pizza and get another one free when you order online! Isn’t that exciting?

 

 

Check it you buy any of these tasty flavours ONLINE: BBQ Chicken, BBQ Beef, Smoked Sausage, Pepperoni, Veggie Supreme, Chicken Supreme or Chickenpie, and you get any one of these awesome flavours for FREE! Perfect for your special occasions, hang outs with your friends, or that end of the day hang out with your colleagues, a good opportunity to take a break from the kitchen and pamper yourself.

Double Cheesy Chills With The Domino’s Pizza Online Buy One Get One Free

Savannah Energy Signs New Gas Sales Agreement With Notore Chemical Industries PLC

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Savannah Energy Signs New Gas Sales Agreement With Notore Chemical Industries PLC

Savannah Energy PLC, the British independent energy company focused around the delivery of Projects that Matter in Africa, is pleased to announce that the Company’s 80% indirectly owned subsidiary, Accugas Limited, has entered into a new gas sales agreement (“GSA”) with Notore Chemical Industries PLC (“Notore”).

Accugas will supply Notore with up to 10 MMscfpd of gas to augment its current supplies. The contracted supply is on an interruptible and reasonable endeavours basis, based on gas availability and nominations, for an initial term of one year, with the option to extend for a mutually agreed period. Notore’s fertiliser production plant is connected to the Accugas network via the Nigerian Gas Company pipeline from Ikot Abasi and no further tie-in or capital expenditure is required by Accugas to deliver gas to Notore.

Savannah Energy Signs New Gas Sales Agreement With Notore Chemical Industries PLC
Savannah Energy Signs New Gas Sales Agreement With Notore Chemical Industries PLC

Notore Chemical Industries PLC, formerly Notore Chemical Industries Ltd, is a Nigeria-based integrated agro-allied, chemicals and infrastructure company located in the Onne Oil and Gas Free Zone area of Rivers state in southern Nigeria. Notore’s primary business is the production of urea, ammonia and NPK blend fertilisers and sale to the Nigerian and international markets. Notore’s facility has a production capacity of 1,500 metric tons (MT) per day of urea and 1,000 MT/day of ammonia.

 

Andrew Knott, CEO of Savannah Energy, said:

“I am pleased to welcome Notore as a new gas customer to Accugas, representing our tenth customer site in total (versus three at the time of our acquisition of the Accugas business in 2019). We look forward to developing our working relationship with Notore over the course of the coming months and years.”

For further information, please refer to the Company’s website www.savannah-energy.com or contact:

Ndidi Ejekam, Commercial and Communications Manager +234 2770650

 

Okwudili Onyia, Communications Manager +234 2770650

 

  

The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company’s obligations under Article 17 of those Regulations.

Local Bourse Starts The Week In Red

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Local Bourse Starts The Week In Red

At the end of yesterday’s trading session, the Nigerian All Share Index closed negative, falling by 0.07% to close at 49,629.43 points.

The performance was due to selling pressures in bellwether stocks such as PRESCO (-9.97%) and DANGSUGAR (-4.19%). Consequently, the YTD return decreased to 16.18% as market capitalisation declined by ₦18.68 billion to close at ₦26.77 trillion.

The sectoral performance was mixed as two of the five indices under coverage improved, two declined while the Insurance index closed flat. The Industrial and Banking indices, the gainers, rose by 0.17% and 0.15% on BUACEMENT (+0.47%) and ZENITHBANK (+2.12%). On the flip side, the Consumer Goods and Oil & Gas, the losers, declined by 0.59% and 0.36% on DANGSUGAR (-4.19%) and SEPLAT (-0.74%) respectively.

Investors’ sentiment weakened as the market breadth decreased to 0.71x from 1.23x. This was illustrated by the advance of 12 stocks, led by NEIMETH (+9.29%) and UNITYBNK (+4.65%) and the decline of 17 stocks, led by PRESCO (-9.97%) and MULTIVERSE (-7.79%). Activity level weakened as the total volume and value declined by 71.90% and 59.03%, as investors exchanged about 210.84mn units of shares worth over ₦2.19bn.

We expect positive sentiment to return in the next trading session as the equities market still presents decent opportunities for investors chasing positive real returns on investments.

Fixed Income
There was relatively quiet activity across the bond yield curve as three of the four bond yields under coverage closed flat while the FGN-MAR-2024 compressed by 1bp. The yields on the FGN-APR-2023, FGN-JAN-2026 and FGN-JUL-2030 bonds closed flat at 9.30%, 12.76% and 12.68% respectively.

The Treasury bill yields for the 91 and 364-day papers closed flat at 3.94% and 6.81% respectively while the yield on the 182-day paper compressed by 1bp to close at 10.51%.

We expect market activity to be influenced by the liquidity levels in the financial system.

MARKET SNAPSHOT

  • Local Bourse Starts the Week in Red, NGX ASI Loses 7bps
  • Quiet Activity Level across the Bond Yield Curve
  • Positive Performance in Global Stocks
  • Commodities Market Closes in Red
  • Mixed Performance in African Stocks
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