Connect with us

AIICO

  •  The Nigerian Exchange Ltd NGX All Share Index on Wednesday rebounded by 1 47 per cent following Dangote Cement gain Specifically the index which opened at 50 075 47 rose by 725 76 points or 1 47 per cent to close at 49 350 71 Similarly the market capitalisation increased by N390 92 billion to close at N27 01 trillion compared with N26 62 trillion achieved on Tuesday A breakdown of the price movement table shows that Dangote Cement recorded the highest gain to lead the gainers table with 9 96 per cent to close at N265 per share NEM Insurance followed with an increase of 9 89 per cent to close at N24 11 while Ellah Lakes rose by 9 41 per cent to close at N4 30 per share Japaul Gold and Ventures appreciated by 8 82 per cent to close at 37k while Mayer amp Baker grew by 8 68 per cent to close at N3 88 per share On the other hand WAPCO topped the losers table depreciating by 8 84 per cent to close at N23 20 per share NAHCO trailed with a decline of 8 62 per cent to close at N5 30 while Honey Flour lost by 6 41 per cent to close at N2 63 per share UACN was down by 5 36 per cent to close at N10 60 while AIICO Insurance declined by 5 26 per cent to close at N10 54 per share In the same vein the volume of shares traded closed higher with an exchange of 279 22 million shares worth N2 08 billion in 3 576 deals This was in contrast with a turnover of 140 61 million shares valued at N1 61 billion traded in 3 895 deals on Tuesday Jaiz Bank Plc was the most active stock during the day trading 115 13 million shares worth N100 14 billion It was followed by First Bank of Nigeria Holdings FBNH with an account of 39 96 million shares valued at N431 5 million while United Bank for Africa UBA traded 14 66 million shares worth N104 32 million AIICO Insurance sold 13 91 million shares valued at N7 68 million while Japaul Gold and Ventures traded 13 59 million shares worth N4 91 million NewsSourceCredit NAN
    NGX: Index appreciates by 1.47% on Dangote Cement gain
     The Nigerian Exchange Ltd NGX All Share Index on Wednesday rebounded by 1 47 per cent following Dangote Cement gain Specifically the index which opened at 50 075 47 rose by 725 76 points or 1 47 per cent to close at 49 350 71 Similarly the market capitalisation increased by N390 92 billion to close at N27 01 trillion compared with N26 62 trillion achieved on Tuesday A breakdown of the price movement table shows that Dangote Cement recorded the highest gain to lead the gainers table with 9 96 per cent to close at N265 per share NEM Insurance followed with an increase of 9 89 per cent to close at N24 11 while Ellah Lakes rose by 9 41 per cent to close at N4 30 per share Japaul Gold and Ventures appreciated by 8 82 per cent to close at 37k while Mayer amp Baker grew by 8 68 per cent to close at N3 88 per share On the other hand WAPCO topped the losers table depreciating by 8 84 per cent to close at N23 20 per share NAHCO trailed with a decline of 8 62 per cent to close at N5 30 while Honey Flour lost by 6 41 per cent to close at N2 63 per share UACN was down by 5 36 per cent to close at N10 60 while AIICO Insurance declined by 5 26 per cent to close at N10 54 per share In the same vein the volume of shares traded closed higher with an exchange of 279 22 million shares worth N2 08 billion in 3 576 deals This was in contrast with a turnover of 140 61 million shares valued at N1 61 billion traded in 3 895 deals on Tuesday Jaiz Bank Plc was the most active stock during the day trading 115 13 million shares worth N100 14 billion It was followed by First Bank of Nigeria Holdings FBNH with an account of 39 96 million shares valued at N431 5 million while United Bank for Africa UBA traded 14 66 million shares worth N104 32 million AIICO Insurance sold 13 91 million shares valued at N7 68 million while Japaul Gold and Ventures traded 13 59 million shares worth N4 91 million NewsSourceCredit NAN
    NGX: Index appreciates by 1.47% on Dangote Cement gain
    Economy4 months ago

    NGX: Index appreciates by 1.47% on Dangote Cement gain

    The Nigerian  Exchange Ltd. (NGX) All-Share Index on Wednesday rebounded by 1.47 per cent, following Dangote Cement gain.

    Specifically, the index which opened at 50,075.47 rose by 725.76 points or 1.47 per cent to close at 49,350.71.Similarly, the market capitalisation increased by N390.92 billion to close at N27.01 trillion compared with N26.62 trillion achieved on Tuesday.

    A breakdown of the price movement table shows that Dangote Cement recorded the highest gain to lead the gainers’ table with 9.96 per cent to close at N265 per share.

    NEM Insurance followed with an increase of 9.89 per cent to close at N24.11, while Ellah Lakes rose by 9.41 per cent to close at N4.30 per share.

    Japaul Gold and Ventures appreciated by 8.82 per cent to close at 37k, while Mayer & Baker grew by 8.68 per cent to close at N3.88 per share.

    On the other hand, WAPCO topped the losers’ table, depreciating by 8.84 per cent to close at N23.20 per share.

    NAHCO trailed with a decline of 8.62 per cent to close at N5.30, while Honey Flour lost by 6.41 per cent to close at N2.63 per share.

    UACN was down by 5.36 per cent to close at N10.60, while AIICO Insurance declined by 5.26 per cent to close at N10.54 per share.

    In the same vein, the volume of shares traded closed higher with an exchange of 279.22 million shares worth N2.08 billion in 3,576 deals.

    This was in contrast with a turnover of 140.61 million shares valued at N1.61 billion traded in 3,895 deals on Tuesday.

    Jaiz Bank Plc was the most active stock during the day, trading 115.13 million shares worth N100.14 billion.

    It was followed by  First Bank of Nigeria Holdings (FBNH)  with an account of 39.96 million shares valued at N431.5 million, while United Bank for Africa (UBA) traded 14.66 million shares worth N104.32 million.

    AIICO Insurance sold 13.91 million shares valued at N7.68 million, while Japaul Gold and Ventures traded 13.59 million shares worth N4.91 million.


    NewsSourceCredit: NAN

  •  The Nigerian Exchange Ltd NGX on Tuesday extended losing streak making the benchmark index down by 2 26 per cent The News Agency of Nigeria reports that the All Share Index ASI dipped 1 139 02 points or 2 26 per cent to close at 49 350 71 against 50 489 73 posted on Monday Also the market capitalisation shed N614 35 billion to close at N26 62 trillion compared with N27 23 trillion achieved on Monday Consequently the Year to Date return dropped to 15 53 per cent The downtrend was impacted by losses recorded in large and medium capitalised stocks amongst which are Dangote Cement and MTN Nigeria Market breadth closed negative with 16 gainers and 11 losers Prestige Insurance and NEM Insurance recorded the highest price in percentage terms with a gain of 10 per cent each to close at 44k and N3 74 per share respectively Ellah Lakes followed with a 9 78 per cent to close at N3 93 per share while Multiverse Mining and Exploration gained 9 75 per cent to close at N2 06 per share Ikeja Hotel appreciated by 9 28 per cent to close at N1 06 per share Conversely Conerstone Insurance led the losers chart with a loss of 9 33 per cent to close at 68 per share Dangote Cement followed with 9 06 per cent to close at N241 while Japaul Gold and Ventures depreciated by 8 11 per cent to close at 34k per share Sovereign Trust Insurance dropped 7 41 per cent to close at 25k while Stanbic Bank lost 6 45 per cent to close at N29 per share Also the total volume traded closed with an exchange of 140 61 million shares valued at N1 6 billion achieved in 3 895 deals Transactions in the shares of Japaul Gold and Ventures topped the activity chart with 3 2 million shares valued at N8 95 million AIICO Insurance followed with 14 8 million shares worth N8 84 million while Sterling Bank traded 14 3 million shares valued at N21 41 million Sovereign Trust Insurance sold 10 1 million shares worth N2 58 million while Guaranty Trust Holding Company GTCO accounted for 7 85 million shares worth N160 97 million NewsSourceCredit NAN
    NGX: Market extends losing streak, down 2.26%
     The Nigerian Exchange Ltd NGX on Tuesday extended losing streak making the benchmark index down by 2 26 per cent The News Agency of Nigeria reports that the All Share Index ASI dipped 1 139 02 points or 2 26 per cent to close at 49 350 71 against 50 489 73 posted on Monday Also the market capitalisation shed N614 35 billion to close at N26 62 trillion compared with N27 23 trillion achieved on Monday Consequently the Year to Date return dropped to 15 53 per cent The downtrend was impacted by losses recorded in large and medium capitalised stocks amongst which are Dangote Cement and MTN Nigeria Market breadth closed negative with 16 gainers and 11 losers Prestige Insurance and NEM Insurance recorded the highest price in percentage terms with a gain of 10 per cent each to close at 44k and N3 74 per share respectively Ellah Lakes followed with a 9 78 per cent to close at N3 93 per share while Multiverse Mining and Exploration gained 9 75 per cent to close at N2 06 per share Ikeja Hotel appreciated by 9 28 per cent to close at N1 06 per share Conversely Conerstone Insurance led the losers chart with a loss of 9 33 per cent to close at 68 per share Dangote Cement followed with 9 06 per cent to close at N241 while Japaul Gold and Ventures depreciated by 8 11 per cent to close at 34k per share Sovereign Trust Insurance dropped 7 41 per cent to close at 25k while Stanbic Bank lost 6 45 per cent to close at N29 per share Also the total volume traded closed with an exchange of 140 61 million shares valued at N1 6 billion achieved in 3 895 deals Transactions in the shares of Japaul Gold and Ventures topped the activity chart with 3 2 million shares valued at N8 95 million AIICO Insurance followed with 14 8 million shares worth N8 84 million while Sterling Bank traded 14 3 million shares valued at N21 41 million Sovereign Trust Insurance sold 10 1 million shares worth N2 58 million while Guaranty Trust Holding Company GTCO accounted for 7 85 million shares worth N160 97 million NewsSourceCredit NAN
    NGX: Market extends losing streak, down 2.26%
    Economy4 months ago

    NGX: Market extends losing streak, down 2.26%

    The Nigerian Exchange Ltd. (NGX) on Tuesday extended losing streak, making the benchmark index down by 2.26 per cent.

    The News Agency of Nigeria reports that the All-Share Index (ASI) dipped 1,139.02 points or 2.26 per cent to close at 49,350.71 against 50,489.73 posted on Monday.

    Also, the market capitalisation shed N614.35 billion to close at N26.62 trillion compared with N27.23 trillion achieved on Monday. 

    Consequently, the Year-to-Date return dropped to 15.53 per cent.

    The downtrend was impacted by losses recorded in large and medium capitalised stocks, amongst which are, Dangote Cement and MTN Nigeria.

    Market breadth closed negative, with 16 gainers and 11 losers.

    Prestige Insurance and NEM Insurance recorded the highest price in percentage terms, with a gain of 10 per cent each to close at 44k and N3.74 per share, respectively.

    Ellah Lakes followed with a 9.78 per cent to close at N3.93 per share, while Multiverse Mining and Exploration gained 9.75 per cent  to close at N2.06 per share.

    Ikeja Hotel appreciated by 9.28 per cent to close at N1.06 per share.

    Conversely, Conerstone Insurance led the losers’ chart with a loss of 9.33 per cent to close at 68 per share.

    Dangote Cement followed with 9.06 per cent to close at N241, while Japaul Gold and Ventures depreciated by 8.11 per cent to close at 34k per share.

    Sovereign Trust Insurance dropped 7.41 per cent to close at 25k, while Stanbic Bank lost 6.45 per cent to close at N29 per share.

    Also, the total volume traded closed with an exchange of 140.61 million shares valued at N1.6 billion achieved in 3,895 deals.

    Transactions in the shares of Japaul Gold and Ventures topped the activity chart with 3.2 million shares valued at N8.95 million.

    AIICO Insurance followed with 14.8 million shares worth N8.84 million, while Sterling Bank traded 14.3 million shares valued at N21.41 million.

    Sovereign Trust Insurance sold 10.1 million shares worth N2.58 million, while Guaranty Trust Holding Company (GTCO) accounted for 7.85 million shares worth N160.97 million. 


    NewsSourceCredit: NAN

  •  The stock market closed trading activities on Monday on a negative note as sell offs returned and making the market capitalisation decreased by N125 45 billion The N125 45 billion difference made the market to close at N27 23 trillion from N27 36 trillion posted on Friday and represented 0 46 per cent decrease Sell offs in all the industrial and consumer goods sector led to the decrease in the market The All Share Index ASI dropped by 0 46 per cent to close at 50 489 73 points from 50 722 33 points recorded on Friday Consequently this indicates a year date date return of 18 20 per cent Japaul Gold and Ventures led the gainers with 8 82 per cent to close 37k per share This is followed by Honeywell Flour Mill with 5 73 per cent to close at N2 95 per share while Cornerstone Insurance Company gained by 5 63 per cent to close at 75k per share Also Lasaco Assurance appreciated by 5 38 per cent to close at 98k per share and UCAP rose by 4 49 per cent to close at N12 80 per share On the other hand RT Briscoe was last with a decline of 10 per cent to close at 36k per share Industrial amp Medical Gases followed with 9 84 per cent to close at N8 25 per share Skyway Aviation Handling Company and Ellah Lakes fell by 9 6 per cent each to close at N5 65 and N3 58 per share respectively Also Caverton declined by 1 09 per cent to close at N6 84 per shares FBN Holdings recorded the highest volume of 74 6 million shares sold at 820 15 million Multiverse Mining amp Exploration followed with N20 5 million shares traded at N38 53 million Access Holdings transacted 12 3 million share worth N111 16 while AIICO Insurance sold 11 6 million shares valued at N219 15 Zenith Bank sold 10 23 million share worth N35 99 million The market turnover increased to N2 12 billion from N1 93 billion posted on Friday The market breadth was negative as 10 stocks advanced and 15 declined Also First Bank of Nigeria Holding FBNH recorded the highest volume of trade and the highest value of trade for the day NewsSourceCredit NAN
    Equity market down by N125bn as sell-offs persist
     The stock market closed trading activities on Monday on a negative note as sell offs returned and making the market capitalisation decreased by N125 45 billion The N125 45 billion difference made the market to close at N27 23 trillion from N27 36 trillion posted on Friday and represented 0 46 per cent decrease Sell offs in all the industrial and consumer goods sector led to the decrease in the market The All Share Index ASI dropped by 0 46 per cent to close at 50 489 73 points from 50 722 33 points recorded on Friday Consequently this indicates a year date date return of 18 20 per cent Japaul Gold and Ventures led the gainers with 8 82 per cent to close 37k per share This is followed by Honeywell Flour Mill with 5 73 per cent to close at N2 95 per share while Cornerstone Insurance Company gained by 5 63 per cent to close at 75k per share Also Lasaco Assurance appreciated by 5 38 per cent to close at 98k per share and UCAP rose by 4 49 per cent to close at N12 80 per share On the other hand RT Briscoe was last with a decline of 10 per cent to close at 36k per share Industrial amp Medical Gases followed with 9 84 per cent to close at N8 25 per share Skyway Aviation Handling Company and Ellah Lakes fell by 9 6 per cent each to close at N5 65 and N3 58 per share respectively Also Caverton declined by 1 09 per cent to close at N6 84 per shares FBN Holdings recorded the highest volume of 74 6 million shares sold at 820 15 million Multiverse Mining amp Exploration followed with N20 5 million shares traded at N38 53 million Access Holdings transacted 12 3 million share worth N111 16 while AIICO Insurance sold 11 6 million shares valued at N219 15 Zenith Bank sold 10 23 million share worth N35 99 million The market turnover increased to N2 12 billion from N1 93 billion posted on Friday The market breadth was negative as 10 stocks advanced and 15 declined Also First Bank of Nigeria Holding FBNH recorded the highest volume of trade and the highest value of trade for the day NewsSourceCredit NAN
    Equity market down by N125bn as sell-offs persist
    Economy4 months ago

    Equity market down by N125bn as sell-offs persist

    The stock market closed trading activities on Monday on a negative note as sell-offs returned and making the market capitalisation decreased by N125.45 billion.

    The N125.45 billion difference made the market to close at N27.23 trillion from N27.36 trillion posted on Friday and represented 0.46 per cent decrease.

    Sell-offs  in all the industrial and consumer goods sector led to the decrease in the market.

    The All-Share Index (ASI) dropped by 0.46 per cent to close at 50,489.73 points from 50,722.33 points recorded on Friday.

    Consequently, this indicates a year-date-date return of 18.20 per cent. 

    Japaul Gold and Ventures led the gainers with 8.82 per cent to close 37k per share.

    This is followed by Honeywell Flour Mill with 5.73 per cent to close at N2.95 per share, while Cornerstone Insurance Company gained by 5.63 per cent to close at 75k per share.

    Also,  Lasaco Assurance appreciated by 5.38 per cent to close at 98k per share and UCAP rose by 4.49 per cent to close at N12.80 per share.

    On the other hand, RT Briscoe was last with a decline of 10 per cent  to close at 36k per share.

    Industrial & Medical Gases followed with 9.84 per cent to close at N8.25 per share.

    Skyway Aviation Handling Company and Ellah Lakes fell by 9.6 per cent each to close at N5.65 and N3.58 per share, respectively Also,  Caverton declined by 1.09 per cent to close at N6.84 per shares.

    FBN Holdings recorded the highest volume of 74.6 million shares sold at 820.15 millionMultiverse Mining & Exploration followed with N20.5 million shares traded at N38.53 millionAccess Holdings transacted 12.3 million share worth N111.16 while AIICO Insurance sold 11.6 million shares valued at N219.15.Zenith Bank sold 10.23 million share worth N35.99 millionThe market turnover increased to N2.12 billion from N1.93 billion posted on Friday. 

    The market breadth was negative as 10 stocks advanced and 15 declined. 

    Also, First Bank of Nigeria Holding (FBNH) recorded the highest volume of trade and the highest value of trade for the day.


    NewsSourceCredit: NAN

  •  AIICO Insurance Plc declared in Lagos on Saturday that it recorded a Gross Written Premium GWP of N45 5 billion in the first half of 2022 The company s unaudited report showed that the GWP increased by 21 4 per cent compared with the N37 481billion recorded in the corresponding period of 2021 The insurance firm said it earned Gross Premium income of N40 573 billion which indicated a 17 9 per cent increase from the N34 435 billion earned in the corresponding period of 2021 GWP grew by 21 4 per cent year on year to N45 5 billion in the half of 2022 compared to N37 5 billion recorded in the comparative period of 2021 This was due to a year on year increase of 39 4 per cent in General Insurance to N15 5 billion compared to N11 1 billion recorded in the first half of 2021 Life Insurance premiums increased by 14 2 per cent year on year to N29 6 billion compared to N25 9 billion recorded in the corresponding period of 2021 Underwriting income from our Health Maintenance Organisations increased by 31 4 per cent year on year to N599 9 million compared to N456 4 million recorded in the comparative period under review it stated According to the underwriter its operating income in Asset Management declined by 9 5 per cent year on year to N697 6million compared to N770 5 million recorded in the corresponding period of 2021 AIICO stated that its profit before income tax from continuing operations increased by 146 9 per cent year on year to N2 2 billion in first half of 2022 compared to N908 6 million recorded in the first half of 2021 It added that its profit before income taxes across the group and its subsidiaries increased year on year contributing to the reported increases for the period According to the underwriting firm this was due to improved top line and investment performance for the period compared to what it did in the first half of 2021 AIICO also completed the sale of its stake in AIICO Pensions recording a profit from discontinued operations of N2 9 billion As a result profit for the interim period rose by 51 4 per cent to N4 9 billion in the first half of 2022 from N3 3 billion recorded in the first half of 2021 it also stated Commenting on the result Mr Babatunde Fajemirokun Managing Director and Chief Executive Officer AIICO Insurance said the half year result was a testament to the resilience of its business model and focus He said the company s unaudited results represented the firm s performances for the interim period ended June 30 2022 Fajemirokun added that the insurer had created products that its customers needed to navigate uncertain periods trusting that the company would be there when they need it AIICO Insurance Plc has been in operation in Nigeria for some 50 years NewsSourceCredit NAN
    AIICO Insurance records N45.5bn gross premium in first half of 2022
     AIICO Insurance Plc declared in Lagos on Saturday that it recorded a Gross Written Premium GWP of N45 5 billion in the first half of 2022 The company s unaudited report showed that the GWP increased by 21 4 per cent compared with the N37 481billion recorded in the corresponding period of 2021 The insurance firm said it earned Gross Premium income of N40 573 billion which indicated a 17 9 per cent increase from the N34 435 billion earned in the corresponding period of 2021 GWP grew by 21 4 per cent year on year to N45 5 billion in the half of 2022 compared to N37 5 billion recorded in the comparative period of 2021 This was due to a year on year increase of 39 4 per cent in General Insurance to N15 5 billion compared to N11 1 billion recorded in the first half of 2021 Life Insurance premiums increased by 14 2 per cent year on year to N29 6 billion compared to N25 9 billion recorded in the corresponding period of 2021 Underwriting income from our Health Maintenance Organisations increased by 31 4 per cent year on year to N599 9 million compared to N456 4 million recorded in the comparative period under review it stated According to the underwriter its operating income in Asset Management declined by 9 5 per cent year on year to N697 6million compared to N770 5 million recorded in the corresponding period of 2021 AIICO stated that its profit before income tax from continuing operations increased by 146 9 per cent year on year to N2 2 billion in first half of 2022 compared to N908 6 million recorded in the first half of 2021 It added that its profit before income taxes across the group and its subsidiaries increased year on year contributing to the reported increases for the period According to the underwriting firm this was due to improved top line and investment performance for the period compared to what it did in the first half of 2021 AIICO also completed the sale of its stake in AIICO Pensions recording a profit from discontinued operations of N2 9 billion As a result profit for the interim period rose by 51 4 per cent to N4 9 billion in the first half of 2022 from N3 3 billion recorded in the first half of 2021 it also stated Commenting on the result Mr Babatunde Fajemirokun Managing Director and Chief Executive Officer AIICO Insurance said the half year result was a testament to the resilience of its business model and focus He said the company s unaudited results represented the firm s performances for the interim period ended June 30 2022 Fajemirokun added that the insurer had created products that its customers needed to navigate uncertain periods trusting that the company would be there when they need it AIICO Insurance Plc has been in operation in Nigeria for some 50 years NewsSourceCredit NAN
    AIICO Insurance records N45.5bn gross premium in first half of 2022
    Economy4 months ago

    AIICO Insurance records N45.5bn gross premium in first half of 2022

    AIICO Insurance Plc. declared in Lagos on Saturday that it recorded a Gross Written Premium (GWP) of N45.5 billion in the first half of 2022. The company’s unaudited report showed that the GWP increased by 21.4 per cent compared with the N37.481billion recorded in the corresponding period of 2021. The insurance firm said it earned Gross Premium income of N40.573 billion which indicated a 17.9 per cent increase from the N34.435 billion earned in the corresponding period of 2021. “GWP grew by 21.4 per cent year-on-year to N45.5 billion in the half of 2022 compared to N37.5 billion recorded in the comparative period of 2021. “This was due to a year-on-year increase of 39.4 per cent in General Insurance to N15.5 billion compared to N11.1 billion recorded in the first half of 2021. “Life Insurance premiums increased by 14.2 per cent year-on-year to N29.6 billion compared to N25.9 billion recorded in the corresponding period of 2021. “Underwriting income from our Health Maintenance Organisations increased by 31.4 per cent year-on-year to N599.9 million compared to N456.4 million recorded in the comparative period under review,’’ it stated.

    According to the underwriter, its operating income in Asset Management declined by 9.5 per cent year-on-year to N697.6million compared to N770.5 million recorded in the corresponding period of 2021. AIICO stated that its profit before income tax from continuing operations increased by 146.9 per cent year-on-year to N2.2 billion in first half of 2022 compared to N908.6 million recorded in the first half of 2021. It added that its profit before income taxes across the group and its subsidiaries increased year-on-year contributing to the reported increases for the period.

    According to the underwriting firm, this was due to improved top line and investment performance for the period compared to what it did in the first half of 2021. “AIICO also completed the sale of its stake in AIICO Pensions, recording a profit from discontinued operations of N2.9 billion.

    “As a result, profit for the interim period rose by 51.4 per cent to N4.9 billion in the first half of 2022 from N3.3 billion recorded in the first half of 2021,’’ it also stated.

    Commenting on the result, Mr Babatunde Fajemirokun, Managing Director and Chief Executive Officer, AIICO Insurance said the half year result was a testament to the resilience of its business model and focus.

    He said the company’s unaudited results represented the firm’s performances for the interim period ended June 30 2022. Fajemirokun added that the insurer had created products that its customers needed to navigate uncertain periods, trusting that the company would be there when they need it.

    AIICO Insurance Plc. has been in operation in Nigeria for some 50 years.


    NewsSourceCredit: NAN

  •  The Nigerian equity market extended loses on Thursday as the capital market closed on a negative note making the market capitalisation to stand at N27 28 trillion The market shed N6 83 billion representing 0 03 per cent when compared with N28 29 trillion recorded on Wednesday The negative performance was driven by continued sell offs of stocks of BUA Cement Dangote Sugar Transcorp and Fidelity Bank among others Similarly All Share Index ASI closed 0 03 per cent lower at 50 582 30 points from 50 594 97 points posted at the previous trading Consequently the year to date YTD return fell to 18 41 per cent Market breadth closed positive at as 24 stocks advanced and 16 declined The current market capitalisation of the Nigerian Stock Exchange is N27 3 trillion A total of 130 45 million shares valued at N1 62 billion were exchanged in 3 993 deals PZ Cussons Nigeria led the gainers with 10 per cent share price appreciation closing at N9 35 per share Honeywell Flour Mill followed by 9 64 per cent to close at N2 73 per share while Stanbic IBTC Holdings rose by 9 15 per cent to close at N31 Wapic Insurance went up by 8 11 per cent to close at 40k per share and Sovereign Insurance increased by eight per cent to close at 27k per share However Multiverse Mining amp Exploration led the losers by 10 per cent at N1 71 per share The next which is Lasaco Assurance declined by 7 07 per cent to close at 92k while FTN Cocoa Processors lost by 6 25 per cent to close at 30k per share BUA Cement depreciated by 4 51 per cent to close at N58 25 per share Also Unity Bank declined by 4 44 per cent to close at 43k per share Analysis of today s market activities showed trade turnover declined compared to the previous session with the value of transactions decreasing by 61 08 per cent A total of 130 45 million shares worth N1 622 million in 3 993 deals Aiico Insurance recorded the highest volume of 16 3 million traded shares worth N9 38 million followed by Transcorp with 11 2 million shares sold at N12 92 million Access Holdings traded 9 74 million shares worth N87 63 million Consolidated Hallmark Insurance transacted 7 49 million shares valued N4 65 million while Japaul Gold sold 6 89 million shares worth N2 14 million AIICO led the volume chart with 16 32 million shares while MTNN led the value chart in deals worth N403 58 million NewsSourceCredit NAN
    Equity market sheds N6bn, index drops 0.03%
     The Nigerian equity market extended loses on Thursday as the capital market closed on a negative note making the market capitalisation to stand at N27 28 trillion The market shed N6 83 billion representing 0 03 per cent when compared with N28 29 trillion recorded on Wednesday The negative performance was driven by continued sell offs of stocks of BUA Cement Dangote Sugar Transcorp and Fidelity Bank among others Similarly All Share Index ASI closed 0 03 per cent lower at 50 582 30 points from 50 594 97 points posted at the previous trading Consequently the year to date YTD return fell to 18 41 per cent Market breadth closed positive at as 24 stocks advanced and 16 declined The current market capitalisation of the Nigerian Stock Exchange is N27 3 trillion A total of 130 45 million shares valued at N1 62 billion were exchanged in 3 993 deals PZ Cussons Nigeria led the gainers with 10 per cent share price appreciation closing at N9 35 per share Honeywell Flour Mill followed by 9 64 per cent to close at N2 73 per share while Stanbic IBTC Holdings rose by 9 15 per cent to close at N31 Wapic Insurance went up by 8 11 per cent to close at 40k per share and Sovereign Insurance increased by eight per cent to close at 27k per share However Multiverse Mining amp Exploration led the losers by 10 per cent at N1 71 per share The next which is Lasaco Assurance declined by 7 07 per cent to close at 92k while FTN Cocoa Processors lost by 6 25 per cent to close at 30k per share BUA Cement depreciated by 4 51 per cent to close at N58 25 per share Also Unity Bank declined by 4 44 per cent to close at 43k per share Analysis of today s market activities showed trade turnover declined compared to the previous session with the value of transactions decreasing by 61 08 per cent A total of 130 45 million shares worth N1 622 million in 3 993 deals Aiico Insurance recorded the highest volume of 16 3 million traded shares worth N9 38 million followed by Transcorp with 11 2 million shares sold at N12 92 million Access Holdings traded 9 74 million shares worth N87 63 million Consolidated Hallmark Insurance transacted 7 49 million shares valued N4 65 million while Japaul Gold sold 6 89 million shares worth N2 14 million AIICO led the volume chart with 16 32 million shares while MTNN led the value chart in deals worth N403 58 million NewsSourceCredit NAN
    Equity market sheds N6bn, index drops 0.03%
    Economy4 months ago

    Equity market sheds N6bn, index drops 0.03%

    The Nigerian equity market extended loses on Thursday, as the capital market closed on a negative note, making the market capitalisation to stand at N27.28 trillion.

    The market shed N6.83 billion, representing 0.03 per cent when compared with N28.29 trillion recorded on Wednesday.

    The negative performance was driven by continued sell-offs of stocks of  BUA Cement, Dangote Sugar, Transcorp and Fidelity Bank among others.

    Similarly, All-Share Index (ASI) closed 0.03 per cent lower at 50,582.30 points from 50,594.97 points posted at the previous trading.

    Consequently, the year-to-date (YTD) return fell to 18.41 per cent.

    Market breadth closed positive at as 24 stocks advanced and 16 declined.

    The current market capitalisation of the Nigerian Stock Exchange is N27.3 trillion.

    A total of 130.45 million shares valued at N1.62 billion were exchanged in 3,993 deals.

    PZ Cussons Nigeria led the gainers with 10 per cent share price appreciation closing at N9.35 per share.

    Honeywell Flour Mill followed by  9.64 per cent to close at N2.73 per share, while Stanbic IBTC Holdings rose by 9.15 per cent to close at N31.Wapic Insurance went up by 8.11 per cent to close at 40k per share and Sovereign Insurance increased by eight per cent to close at 27k per share.

    However, Multiverse Mining & Exploration led the losers by 10 per cent at N1.71 per share.

    The next, which is Lasaco Assurance, declined by 7.07 per cent to close at 92k, while FTN Cocoa Processors lost by 6.25 per cent to close at 30k per share.

    BUA Cement depreciated by 4.51 per cent to close at N58.25 per share.

    Also, Unity Bank declined by 4.44 per cent to close at 43k per share.

    Analysis of today’s market activities showed trade turnover declined compared to the previous session, with the value of transactions decreasing by 61.08 per cent.

    A total of 130.45 million shares worth N1.622 million in 3,993 deals. 

    Aiico Insurance recorded the highest volume of 16.3 million traded shares worth N9.38 million, followed by Transcorp  with 11.2 million shares sold at N12.92 million.

    Access Holdings traded 9.74 million shares worth N87.63 million.

    Consolidated Hallmark Insurance transacted 7.49 million shares valued N4.65 million, while Japaul Gold sold 6.89 million shares worth N2.14 million.

    AIICO  led the volume chart with 16.32 million shares, while MTNN led the value chart in deals worth N403.58 million.  


    NewsSourceCredit: NAN

  •  Investors at the Nigerian stock market gained N364 39 billion following the rise in equity capitalisation by 1 35 per cent on Tuesday The equity capitalisation rose from N26 94 trillion recorded on Monday to close at N27 3 trillion Also the All Share Index ASI was up by 675 72 points to close with 50 626 04 points compared to 49 950 32 points recorded the previous day The year to date YTD return fell to 18 52 per cent Overall market breadth closed positive as 19 stocks appreciated while nine others declined Honeywell Flour Mill led the gainers with 9 66 per cent share price appreciation closing at N2 27 per share Jaiz Bank followed by 9 46 per cent to close at 81k per share while Caverton Offshore Support Group rose by 8 18 per cent to close at N1 19 per share Also Japaul Gold and Ventures increased by eight per cent and 7 56 per cent each to close at 27k and N1 85 per share respectively On the losing side McNichols s share price depreciated by 9 76 per cent to close at 74k per share Wapic Insurance next by 9 76 per cent to close at 37k per share while Chams fell by eight per cent to close at 23k per share Nigerian Exchange Group dropped by 2 73 per cent to close at N21 35 per share Also United Bank for Africa UBA declined by 2 08 per cent to close at N7 05 per share Investors parted with N2 86 billion for 129 17 million shares in 4 706 deals This is higher to N2 27 billion raised on 176 05 million shares in 4 965 deals on Monday which represents 27 per cent decline in volume 26 per cent improvement in turnover FBN Holdings recorded the highest volume of 14 6 million traded shares worth N159 56 million It is followed by Multiverse Mining amp Exploration which traded 9 48 million shares at N18 56 million Guaranty Trust Holding Company GTCO sold 9 37 million shares worth N191 03 million while Zenith Bank traded 9 29 million shares at N196 25 AIICO sold 64 million shares at N3 77 million NewsSourceCredit NAN
    Banking stocks, others boost equity market by 1.35%
     Investors at the Nigerian stock market gained N364 39 billion following the rise in equity capitalisation by 1 35 per cent on Tuesday The equity capitalisation rose from N26 94 trillion recorded on Monday to close at N27 3 trillion Also the All Share Index ASI was up by 675 72 points to close with 50 626 04 points compared to 49 950 32 points recorded the previous day The year to date YTD return fell to 18 52 per cent Overall market breadth closed positive as 19 stocks appreciated while nine others declined Honeywell Flour Mill led the gainers with 9 66 per cent share price appreciation closing at N2 27 per share Jaiz Bank followed by 9 46 per cent to close at 81k per share while Caverton Offshore Support Group rose by 8 18 per cent to close at N1 19 per share Also Japaul Gold and Ventures increased by eight per cent and 7 56 per cent each to close at 27k and N1 85 per share respectively On the losing side McNichols s share price depreciated by 9 76 per cent to close at 74k per share Wapic Insurance next by 9 76 per cent to close at 37k per share while Chams fell by eight per cent to close at 23k per share Nigerian Exchange Group dropped by 2 73 per cent to close at N21 35 per share Also United Bank for Africa UBA declined by 2 08 per cent to close at N7 05 per share Investors parted with N2 86 billion for 129 17 million shares in 4 706 deals This is higher to N2 27 billion raised on 176 05 million shares in 4 965 deals on Monday which represents 27 per cent decline in volume 26 per cent improvement in turnover FBN Holdings recorded the highest volume of 14 6 million traded shares worth N159 56 million It is followed by Multiverse Mining amp Exploration which traded 9 48 million shares at N18 56 million Guaranty Trust Holding Company GTCO sold 9 37 million shares worth N191 03 million while Zenith Bank traded 9 29 million shares at N196 25 AIICO sold 64 million shares at N3 77 million NewsSourceCredit NAN
    Banking stocks, others boost equity market by 1.35%
    Economy4 months ago

    Banking stocks, others boost equity market by 1.35%

    Investors at the Nigerian stock market gained N364.39 billion, following the rise in equity capitalisation by 1.35 per cent on Tuesday.

    The equity capitalisation rose from N26.94 trillion recorded on Monday to close at  N27.3 trillion.

    Also, the All-Share Index (ASI) was up by 675.72 points to close with 50,626.04 points compared to 49,950.32 points recorded the previous day.

    The year-to-date (YTD) return fell to 18.52 per cent. 

    Overall, market breadth closed positive as 19 stocks appreciated  while nine others declined.

    Honeywell Flour Mill led the gainers with 9.66 per cent share price appreciation  closing at N2.27 per share.

    Jaiz Bank followed by 9.46 per cent to close at 81k per share, while Caverton Offshore Support Group rose by 8.18 per cent to close at N1.19 per share.

    Also, Japaul Gold and Ventures increased by  eight per cent and 7.56 per cent each to close at 27k and N1.85 per share respectively. 

    On the losing side, McNichols’s share price depreciated by  9.76 per cent to close at 74k per share.

    Wapic Insurance next by  9.76 per cent to close at 37k per share, while Chams fell by eight per cent to close at 23k per share.

    Nigerian Exchange Group dropped by 2.73 per cent to close at N21.35 per share. 

    Also United Bank for Africa (UBA) declined by 2.08 per cent to close at N7.05 per share.

    Investors parted with N2.86 billion for 129.17 million shares in 4,706 deals.

    This is higher to N2.27 billion raised on 176.05 million shares in 4,965 deals on Monday which represents 27 per cent decline in volume, 26 per cent improvement in turnover.

    FBN Holdings recorded the highest volume of 14.6 million traded shares worth N159.56 million. 

    It is followed by Multiverse Mining & Exploration which traded 9.48 million shares at N18.56 million.

    Guaranty Trust Holding Company (GTCO) sold 9.37 million shares worth N191.03 million, while Zenith Bank traded 9.29 million shares at N196.25.AIICO sold 64 million shares at N3.77 million. 


    NewsSourceCredit: NAN

  •  The Maritime and Offshore Award The OMIS is set to honour organisations and professionals who have distinguished themselves in the maritime sector The Chief Executive Officer of the OMIS Mr Femi Da silva made this known in a statement on Tuesday in Lagos Da silva said that the organisations were nominated by industry players due to their exemplary commitment to the progress of the sector The commitment is via investment community service technology innovation and other notable investments while impacting the environment positively They all deserve to be honoured to serve as an impetus for others to make sacrificial investments and impact in the maritime sector he said He said that organisations shortlisted in different categories for the Maritime and Offshore Award The OMIS 2022 were Samsung Heavy Industries SHIN Starzs Investment SIFAX Group and NLNG Ship Management Ltd NLSM Da silva said that others were Integrated Oil and Gas Brisktrade Comet Shipping APM Terminals OnePort365 Trucks Transit Parks Ltd Lloyd s Register and Nigerian Navy Organisations in the various corporate categories of the award are Niger Dock Shipside Dry Ltd Bureau Veritas American Bureau of Shipping BW Offshore Diolits Marine Services MEDLOG Transport amp Logistics Ocean Deep Services Ltd LTT Coastal amp Marine Services Ltd Also among are ENL Consortium Niger Benue Transport Company Ltd ECM Terminals Charkin Maritime Academy KOBO360 Peak Shipping Agency Bricks Limited Lead Way Assurance AIICO General Insurance NEM Insurance Allianz Nigeria Insurance he said Da silva noted that individuals nominated for the award are eminent maritime executives and professionals including Former Managing Director Nigerian Port Authority Adebayo Sarumi Former Minister of Interior Capt Emmanuel Iheanacho Chairman Starzs Investment Greg Ogbeifun Others he listed as President of the Nigerian Maritime Law Association Mrs Olufunke Agbor SAN Chief Executive Officer LADOL Dr Amy Jadesimi National President Women in Energy Oil and Gas WEOG Nigeria Dr Oladunni Owo A former Director General of the Nigerian Chamber of Shipping Mrs Ify Akerele also a member of the Panel of Judges for the Award expressed excitement over the growing visibility of the impact made in the maritime sector The award is part of all our collective achievement in the sector as it inspires more commitment to best practice so I encourage all to support the initiative she said The OMIS Award aims to serve as a catalyst for the continued development of the sector through the appreciation of the most silent but incredible work that is being done by stakeholders It aims to highlight innovations and achievements in the field as well as raise awareness and beam the searchlight on important issues that do not always get the attention they deserve and subsequently promote further improvement The award will hold on Sept 24 at the Lagos Oriental Hotel NewsSourceCredit NAN
    Maritime organisations, professionals for OMIS award
     The Maritime and Offshore Award The OMIS is set to honour organisations and professionals who have distinguished themselves in the maritime sector The Chief Executive Officer of the OMIS Mr Femi Da silva made this known in a statement on Tuesday in Lagos Da silva said that the organisations were nominated by industry players due to their exemplary commitment to the progress of the sector The commitment is via investment community service technology innovation and other notable investments while impacting the environment positively They all deserve to be honoured to serve as an impetus for others to make sacrificial investments and impact in the maritime sector he said He said that organisations shortlisted in different categories for the Maritime and Offshore Award The OMIS 2022 were Samsung Heavy Industries SHIN Starzs Investment SIFAX Group and NLNG Ship Management Ltd NLSM Da silva said that others were Integrated Oil and Gas Brisktrade Comet Shipping APM Terminals OnePort365 Trucks Transit Parks Ltd Lloyd s Register and Nigerian Navy Organisations in the various corporate categories of the award are Niger Dock Shipside Dry Ltd Bureau Veritas American Bureau of Shipping BW Offshore Diolits Marine Services MEDLOG Transport amp Logistics Ocean Deep Services Ltd LTT Coastal amp Marine Services Ltd Also among are ENL Consortium Niger Benue Transport Company Ltd ECM Terminals Charkin Maritime Academy KOBO360 Peak Shipping Agency Bricks Limited Lead Way Assurance AIICO General Insurance NEM Insurance Allianz Nigeria Insurance he said Da silva noted that individuals nominated for the award are eminent maritime executives and professionals including Former Managing Director Nigerian Port Authority Adebayo Sarumi Former Minister of Interior Capt Emmanuel Iheanacho Chairman Starzs Investment Greg Ogbeifun Others he listed as President of the Nigerian Maritime Law Association Mrs Olufunke Agbor SAN Chief Executive Officer LADOL Dr Amy Jadesimi National President Women in Energy Oil and Gas WEOG Nigeria Dr Oladunni Owo A former Director General of the Nigerian Chamber of Shipping Mrs Ify Akerele also a member of the Panel of Judges for the Award expressed excitement over the growing visibility of the impact made in the maritime sector The award is part of all our collective achievement in the sector as it inspires more commitment to best practice so I encourage all to support the initiative she said The OMIS Award aims to serve as a catalyst for the continued development of the sector through the appreciation of the most silent but incredible work that is being done by stakeholders It aims to highlight innovations and achievements in the field as well as raise awareness and beam the searchlight on important issues that do not always get the attention they deserve and subsequently promote further improvement The award will hold on Sept 24 at the Lagos Oriental Hotel NewsSourceCredit NAN
    Maritime organisations, professionals for OMIS award
    Economy4 months ago

    Maritime organisations, professionals for OMIS award

    The Maritime and Offshore Award (The OMIS) is set to honour organisations and professionals who have distinguished themselves in the maritime sector.

    The Chief Executive Officer of the OMIS, Mr Femi Da-silva, made this known in a statement on Tuesday in Lagos.

    Da-silva said that the organisations were nominated by industry players due to their exemplary commitment to the progress of the sector.

    “The commitment is via investment, community service, technology innovation, and other notable investments while impacting the environment positively.

    “They all deserve to be honoured to serve as an impetus for others to make sacrificial investments and impact in the maritime sector,” he said.

    He said that organisations shortlisted in different categories for the Maritime and Offshore Award (The OMIS) 2022 were Samsung Heavy Industries (SHIN), Starzs Investment, SIFAX Group and NLNG Ship Management Ltd (NLSM).

    Da-silva said that others were Integrated Oil and Gas, Brisktrade, Comet Shipping, APM Terminals, OnePort365, Trucks Transit Parks Ltd., Lloyd’s Register and Nigerian Navy. “Organisations in the various corporate categories of the award are Niger Dock, Shipside Dry Ltd., Bureau Veritas, American Bureau of Shipping, BW Offshore, Diolits Marine Services, MEDLOG Transport & Logistics, Ocean Deep Services Ltd, LTT Coastal & Marine Services Ltd. “Also among are ENL Consortium, Niger Benue Transport Company Ltd, ECM Terminals, Charkin Maritime Academy, KOBO360, Peak Shipping Agency, Bricks Limited, Lead Way Assurance, AIICO General Insurance, NEM Insurance, Allianz Nigeria Insurance,” he said.

    Da-silva noted that individuals nominated for the award are eminent maritime executives and professionals including Former Managing Director, Nigerian Port Authority, Adebayo Sarumi; Former Minister of Interior, Capt. Emmanuel Iheanacho; Chairman, Starzs Investment, Greg Ogbeifun.

    Others he listed as President of the Nigerian Maritime Law Association, Mrs Olufunke Agbor, SAN; Chief Executive Officer, LADOL, Dr Amy Jadesimi; National President, Women in Energy, Oil and Gas (WEOG) Nigeria, Dr Oladunni Owo. A former Director-General of the Nigerian Chamber of Shipping, Mrs Ify Akerele, also a member of the Panel of Judges for the Award, expressed excitement over the growing visibility of the impact made in the maritime sector.

    “The award is part of all our collective achievement in the sector as it inspires more commitment to best practice, so I encourage all to support the initiative,” she said.

    The OMIS Award aims to serve as a catalyst for the continued development of the sector through the appreciation of the most silent but incredible work that is being done by stakeholders.

    It aims to highlight innovations and achievements in the field as well as raise awareness and beam the searchlight on important issues that do not always get the attention they deserve, and subsequently promote further improvement.

    The award will hold on Sept. 24 at the Lagos Oriental Hotel.

    NewsSourceCredit: NAN

  •   NGX witnesses bearish position as CBN hikes benchmark interest rate Equities By Olawunmi Ashafa Lagos July 19 2022 The nation s equities market recorded a bearish position following the benchmark interest rate that was increased by the Monetary Policy Committees meeting of the Central Bank of Nigeria CBN on Tuesday Losses in Accesscorp MTN Nigeria United Bank for Africa UBA and International Breweries made the market into the negative position The Monetary Policy Rate MPR which is the benchmark interest rate was increasedto 14 per cent while the Cash Reserve Ratio CRR was held at 27 50 per cent and Liquidity Ratio was retained at 30 per cent The All Share Index ASI of the Nigerian Exchange Ltd NGX decreased by 0 02 per cent to 52 308 88 points from 52 319 94 points posted on Monday Consequently the year to date gain of the index fell to 22 46 per cent Analysts at Vetiva Dealing and Brokage said Following the decision of the Central Bank of Nigeria to raise the Monetary Policy rate by 100bps we are likely to see further bearish sessions as investors continue to trade cautiously Also the market capitalisation decreased by N59 66 billion to N28 21 trillion from N28 21 trillion at the previous session Performance across sub sector gauges was largely positive The NGX Insurance Index NGX Index and the NGX Industrial Index rose by 0 86 per cent 0 79 per cent and 0 19 per cent respectively while the NGX Banking Index and the NGX Consumer Goods Index fell by 0 41 per cent and 0 13 per cent respectively The market breadth was equal as 16 stocks advanced and 16 stocks declined RTBriscoe dominated the gainers table in percentage terms gaining 10 per cent to close at 44k per share Glaxosmith followed with 9 02 per cent to close at N6 65 while Conerstone Insurance rose by 6 45 per cent to close at 66k per share Courtville Business Solution garnered 6 38 per cent to close at 50k while FTNCocoa appreciated by 6 06 per cent to close at 35k per share On the other hand Multiverse led the losers chart in percentage terms dropping 9 50 per cent to close at 17k per share Japaul Gold followed with a decline of 7 41 per cent to close at 2k while Academy Press lost seven per cent to close at 14k per share Caverton lost 6 57 per cent to close at 9k per share while UPDC dropped by 4 03 per cent to close at 5k Conversely market activity was mixed as the volume of stocks traded gainedby 76 85 per cent to 205 64 million units Transactions in the shares of United Bank for Africa UBA topped the activity chart with 74 28 million shares worth N556 84 million Accesscorp followed with 16 09 million shares valued at N146 45 million while AIICO traded 14 1 million shares worth N8 9 million FBN Holdings sold 12 82 million shares valued at N140 5 million while GTCO transacted 8 88 million shares worth N190 49 million NewsSourceCredit NAN
    NGX witnesses bearish position as CBN hikes benchmark interest rate
      NGX witnesses bearish position as CBN hikes benchmark interest rate Equities By Olawunmi Ashafa Lagos July 19 2022 The nation s equities market recorded a bearish position following the benchmark interest rate that was increased by the Monetary Policy Committees meeting of the Central Bank of Nigeria CBN on Tuesday Losses in Accesscorp MTN Nigeria United Bank for Africa UBA and International Breweries made the market into the negative position The Monetary Policy Rate MPR which is the benchmark interest rate was increasedto 14 per cent while the Cash Reserve Ratio CRR was held at 27 50 per cent and Liquidity Ratio was retained at 30 per cent The All Share Index ASI of the Nigerian Exchange Ltd NGX decreased by 0 02 per cent to 52 308 88 points from 52 319 94 points posted on Monday Consequently the year to date gain of the index fell to 22 46 per cent Analysts at Vetiva Dealing and Brokage said Following the decision of the Central Bank of Nigeria to raise the Monetary Policy rate by 100bps we are likely to see further bearish sessions as investors continue to trade cautiously Also the market capitalisation decreased by N59 66 billion to N28 21 trillion from N28 21 trillion at the previous session Performance across sub sector gauges was largely positive The NGX Insurance Index NGX Index and the NGX Industrial Index rose by 0 86 per cent 0 79 per cent and 0 19 per cent respectively while the NGX Banking Index and the NGX Consumer Goods Index fell by 0 41 per cent and 0 13 per cent respectively The market breadth was equal as 16 stocks advanced and 16 stocks declined RTBriscoe dominated the gainers table in percentage terms gaining 10 per cent to close at 44k per share Glaxosmith followed with 9 02 per cent to close at N6 65 while Conerstone Insurance rose by 6 45 per cent to close at 66k per share Courtville Business Solution garnered 6 38 per cent to close at 50k while FTNCocoa appreciated by 6 06 per cent to close at 35k per share On the other hand Multiverse led the losers chart in percentage terms dropping 9 50 per cent to close at 17k per share Japaul Gold followed with a decline of 7 41 per cent to close at 2k while Academy Press lost seven per cent to close at 14k per share Caverton lost 6 57 per cent to close at 9k per share while UPDC dropped by 4 03 per cent to close at 5k Conversely market activity was mixed as the volume of stocks traded gainedby 76 85 per cent to 205 64 million units Transactions in the shares of United Bank for Africa UBA topped the activity chart with 74 28 million shares worth N556 84 million Accesscorp followed with 16 09 million shares valued at N146 45 million while AIICO traded 14 1 million shares worth N8 9 million FBN Holdings sold 12 82 million shares valued at N140 5 million while GTCO transacted 8 88 million shares worth N190 49 million NewsSourceCredit NAN
    NGX witnesses bearish position as CBN hikes benchmark interest rate
    Economy5 months ago

    NGX witnesses bearish position as CBN hikes benchmark interest rate

    NGX witnesses bearish position as CBN hikes benchmark interest rate   Equities By Olawunmi Ashafa Lagos, July 19, 2022 The nation’s equities market recorded a bearish position, following the benchmark interest rate that was increased by the Monetary Policy Committees meeting of the Central Bank of Nigeria (CBN) on Tuesday.

      Losses in Accesscorp, MTN Nigeria, United Bank for Africa (UBA) and International Breweries made the market into the negative position.

      The Monetary Policy Rate (MPR) which is the benchmark interest rate was increasedto 14 per cent, while the Cash Reserve Ratio (CRR) was held at 27.50 per cent and Liquidity Ratio was retained at 30 per cent.

      The All-Share Index (ASI) of the Nigerian Exchange Ltd.

    (NGX) decreased by 0.02 per cent to 52,308.88 points from 52,319.94 points posted on Monday.

      Consequently, the year-to-date gain of the index fell to 22.46 per cent.

      Analysts at Vetiva Dealing and Brokage said, “Following the decision of the Central Bank of Nigeria to raise the Monetary Policy rate by 100bps, we are likely to see further bearish sessions as investors continue to trade cautiously.”   Also, the market capitalisation decreased by N59.66 billion to N28.21 trillion from N28.21 trillion at the previous session.

      Performance across sub-sector gauges was largely positive.

    The NGX Insurance Index, NGX Index and the NGX Industrial Index rose by 0.86 per cent, 0.79 per cent and 0.19 per cent respectively, while the NGX Banking Index and the NGX Consumer Goods Index fell by 0.41 per cent and 0.13 per cent respectively.

      The market breadth was equal as 16 stocks advanced and 16 stocks declined.

      RTBriscoe dominated the gainers’ table in percentage terms, gaining 10 per cent, to close at 44k per share.

      Glaxosmith followed with 9.02 per cent to close at N6.65 while Conerstone Insurance rose by 6.45 per cent to close at 66k per share.

      Courtville Business Solution garnered 6.38 per cent to close at 50k, while FTNCocoa appreciated by 6.06 per cent to close at 35k per share.

      On the other hand, Multiverse led the losers’ chart in percentage terms, dropping 9.50 per cent to close at 17k per share.

      Japaul Gold followed with a decline of 7.41 per cent to close at 2k, while Academy Press lost seven per cent to close at 14k per share.

      Caverton lost 6.57 per cent to close at 9k per share, while UPDC dropped by 4.03 per cent to close at 5k.

      Conversely, market activity was mixed as the volume of stocks traded gainedby 76.85 per cent to 205.64 million units.

      Transactions in the shares of United Bank for Africa (UBA) topped the activity chart with 74.28 million shares worth N556.84 million.

    Accesscorp followed with 16.09 million shares valued at N146.45 million, while AIICO traded 14.1 million shares worth N8.9 million.

    FBN Holdings sold 12.82 million shares valued at N140.5 million, while GTCO transacted 8.88 million shares worth N190.49 million.

    NewsSourceCredit: NAN

  •  Bearish sentiment resurfaced at the Nigerian stock market on Monday following sell off in some bank stocks such as Fidelity Bank Sterling Bank Access Bank First Bank of Nigeria Holdings FBNH among others Specifically the market capitalisation lost N20 6 billion or 0 07 per cent to close at N27 921 trillion from N27 941 trillion on Friday Also the All Share Index ASI declined by 38 22 points or 0 07 per cent to close at 57 791 against 51 829 the same day Accordingly the year to date returns increased to 21 24 per cent Overall the market was negative with 17 losers relative to 18 gainers Fidson Pharmaceutical drove the gainers chart in percentage terms by 9 82 per cent to close at N12 30 per share Learn Africa followed with a gain 9 79 per cent to close at N2 47 while UPDC rose by 9 71 per cent to close at N1 13 per share Prestige Insurance went up by 8 33 per cent to close at 39k while Regent Alliance Insurance appreciated by 7 69 per cent to close at 28k per share On the other hand Conoil led the losers chart in percentage terms by 9 9 per cent to close at N25 95 per share Redstar Express and RT Briscoe followed with 9 09 per cent each to close at N2 50 and 40k per share Cutix shed 7 69 per cent to close at N2 28 per share while Unity Bank lost 6 67 per cent to close at 42k per share Also the total volume traded increased to 194 122 million units valued at N2 82 billion and exchanged in 4 899 deals Transactions in the shares of Transcorp topped the activity chart with 25 07 million shares valued at N31 77 million Guaranty Trust Holding Company GTCO followed with 20 18 million shares worth N413 02 million while United Bank for Africa UBA traded 15 59 million shares valued at N131 22 million AIICO traded 13 61 million shares valued at N8 32 million while First Bank of Nigeria FBNH transacted 11 63 million shares worth N131 92 million Analysist at GTI Securities said Equity market closed transaction for today negative as bargain hunting resumes We expect cautious trading to continue in the week NewsSourceCredit NAN
    Stock market records losses, capitalisation down by N20bn
     Bearish sentiment resurfaced at the Nigerian stock market on Monday following sell off in some bank stocks such as Fidelity Bank Sterling Bank Access Bank First Bank of Nigeria Holdings FBNH among others Specifically the market capitalisation lost N20 6 billion or 0 07 per cent to close at N27 921 trillion from N27 941 trillion on Friday Also the All Share Index ASI declined by 38 22 points or 0 07 per cent to close at 57 791 against 51 829 the same day Accordingly the year to date returns increased to 21 24 per cent Overall the market was negative with 17 losers relative to 18 gainers Fidson Pharmaceutical drove the gainers chart in percentage terms by 9 82 per cent to close at N12 30 per share Learn Africa followed with a gain 9 79 per cent to close at N2 47 while UPDC rose by 9 71 per cent to close at N1 13 per share Prestige Insurance went up by 8 33 per cent to close at 39k while Regent Alliance Insurance appreciated by 7 69 per cent to close at 28k per share On the other hand Conoil led the losers chart in percentage terms by 9 9 per cent to close at N25 95 per share Redstar Express and RT Briscoe followed with 9 09 per cent each to close at N2 50 and 40k per share Cutix shed 7 69 per cent to close at N2 28 per share while Unity Bank lost 6 67 per cent to close at 42k per share Also the total volume traded increased to 194 122 million units valued at N2 82 billion and exchanged in 4 899 deals Transactions in the shares of Transcorp topped the activity chart with 25 07 million shares valued at N31 77 million Guaranty Trust Holding Company GTCO followed with 20 18 million shares worth N413 02 million while United Bank for Africa UBA traded 15 59 million shares valued at N131 22 million AIICO traded 13 61 million shares valued at N8 32 million while First Bank of Nigeria FBNH transacted 11 63 million shares worth N131 92 million Analysist at GTI Securities said Equity market closed transaction for today negative as bargain hunting resumes We expect cautious trading to continue in the week NewsSourceCredit NAN
    Stock market records losses, capitalisation down by N20bn
    Economy5 months ago

    Stock market records losses, capitalisation down by N20bn

    Bearish sentiment resurfaced at the Nigerian stock market on Monday, following sell-off in some bank stocks such as  Fidelity Bank, Sterling Bank, Access Bank, First Bank of Nigeria Holdings (FBNH), among others. 
    Specifically, the market capitalisation lost N20.6 billion or 0.07 per cent to close at N27.921 trillion from N27. 941 trillion on Friday.Also, the All-Share Index (ASI) declined by 38.22 points or 0.07 per cent to close at 57,791 against 51,829 the same day.

     

    Accordingly, the year-to-date returns increased to 21.24 per cent.

    Overall, the market was negative with 17 losers, relative to 18 gainers.

    Fidson Pharmaceutical drove the gainers’ chart in percentage terms by 9.82 per cent to close at N12.30 per share. 

    Learn Africa followed with a gain 9. 79 per cent to close at N2.47, while UPDC  rose by 9.71 per cent to close at N1.13 per share.

    Prestige Insurance went up by 8.33 per cent to close at 39k, while Regent Alliance Insurance appreciated by 7.69 per cent to close at 28k per share.

    On the other hand, Conoil led the losers’ chart in percentage terms by 9.9 per cent to close at N25.95 per share.

    Redstar Express and RT Briscoe followed with 9.09 per cent each to close at N2.50 and 40k per share.

    Cutix  shed 7.69 per cent to close at N2. 28 per share, while Unity Bank lost 6.67 per cent to close at 42k per share. 

    Also, the total volume traded increased  to 194.122 million units valued at N2.82 billion and exchanged in 4,899 deals.

    Transactions in the shares of Transcorp topped the activity chart with 25.07 million shares valued at N31.77 million.

    Guaranty Trust Holding Company (GTCO) followed with 20.18 million shares worth N413.02 million, while United Bank for Africa (UBA) traded 15.59 million shares valued at N131.22 million.

    AIICO traded 13.61 million shares valued at N8.32 million, while First Bank of Nigeria (FBNH) transacted 11.63 million shares worth N131.92 million.

    Analysist at GTI Securities  said, “Equity market closed transaction for today negative, as bargain hunting resumes. We expect cautious trading to continue in the week.’

      (

    NewsSourceCredit: NAN

  •  The stock market closed on Wednesday negative as the market capitalisation decreased by N183 billion to N28 451 trillion from N28 634 trillion The All Share Index ASI also declined by 0 64 per cent to 52 775 40 points from 53 114 65 points recorded on Tuesday The decline was attributed to selloffs in MTN Nigeria stocks and some Tier 1 bank stocks First Bank of Nigeria Holdings FBNH Zenith Bank and Union Bank Consequently the year to date YTD return fell to 23 55 per cent Market breadth closed negative as 26 stocks were on the laggard s log while 11 on the leaders table Breakdown of the price movement chart shows that Tripple G recorded the highest gain to lead the gainers chart with 9 20 per cent to close at 95k per share LearnAfrica trailed with 5 49 per cent to close at N2 50 while Unity Bank rose by 2 13 per cent to close at 48k per share AIICO also rose by 1 56 per cent to close at 65k while Livestock inched up by 1 33 per cent to close at N1 52 per share On the other hand Meyer led the losers chart dropping by 10 per cent to close at N2 79 per share Linkage Assurance dropped by 8 93 per cent to close at 51k while Union Bank Insurance dipped by 7 69 per cent to close at N6 per share International Breweries lost by 6 12 per cent to close at N6 90 while FBNH dipped by 5 71 per cent to close at N9 90 per share Analysis of today s market activities showed trade turnover settled lower relative to the previous session with the value of transactions declining by 23 76 per cent A total of 188 1billion units of shares valued at N2 36bn were exchanged in 4 890 deals UBA was the toast of investors accounting for 36 42 million shares valued at N278 56 billion Guaranty Trust Holding Company GTCo came second with 24 39 million shares worth N531 3 million while FBNH sold 17 62 million shares valued at N175 82 million Sterling Bank accounted for 14 28 million shares worth N21 91 million while Zenith Bank transacted 12 84 million shares valued at N286 83 million Source NAN
    Selloffs: Stock market drops N183bn
     The stock market closed on Wednesday negative as the market capitalisation decreased by N183 billion to N28 451 trillion from N28 634 trillion The All Share Index ASI also declined by 0 64 per cent to 52 775 40 points from 53 114 65 points recorded on Tuesday The decline was attributed to selloffs in MTN Nigeria stocks and some Tier 1 bank stocks First Bank of Nigeria Holdings FBNH Zenith Bank and Union Bank Consequently the year to date YTD return fell to 23 55 per cent Market breadth closed negative as 26 stocks were on the laggard s log while 11 on the leaders table Breakdown of the price movement chart shows that Tripple G recorded the highest gain to lead the gainers chart with 9 20 per cent to close at 95k per share LearnAfrica trailed with 5 49 per cent to close at N2 50 while Unity Bank rose by 2 13 per cent to close at 48k per share AIICO also rose by 1 56 per cent to close at 65k while Livestock inched up by 1 33 per cent to close at N1 52 per share On the other hand Meyer led the losers chart dropping by 10 per cent to close at N2 79 per share Linkage Assurance dropped by 8 93 per cent to close at 51k while Union Bank Insurance dipped by 7 69 per cent to close at N6 per share International Breweries lost by 6 12 per cent to close at N6 90 while FBNH dipped by 5 71 per cent to close at N9 90 per share Analysis of today s market activities showed trade turnover settled lower relative to the previous session with the value of transactions declining by 23 76 per cent A total of 188 1billion units of shares valued at N2 36bn were exchanged in 4 890 deals UBA was the toast of investors accounting for 36 42 million shares valued at N278 56 billion Guaranty Trust Holding Company GTCo came second with 24 39 million shares worth N531 3 million while FBNH sold 17 62 million shares valued at N175 82 million Sterling Bank accounted for 14 28 million shares worth N21 91 million while Zenith Bank transacted 12 84 million shares valued at N286 83 million Source NAN
    Selloffs: Stock market drops N183bn
    Economy6 months ago

    Selloffs: Stock market drops N183bn

    The stock market closed on Wednesday negative as the market capitalisation decreased by N183 billion to N28.451 trillion from N28.634 trillion.

    The All Share Index (ASI) also declined by 0.64 per cent to 52,775.40 points from 53,114.65 points recorded on Tuesday.

    The decline was attributed to selloffs in MTN Nigeria stocks, and some Tier-1 bank stocks; First Bank of Nigeria Holdings (FBNH), Zenith Bank and Union Bank.

    Consequently, the year-to-date (YTD) return fell to 23.55 per cent.

    Market breadth closed negative as 26 stocks were on the laggard’s log while 11 on the leaders table.

    Breakdown of the price movement chart shows that Tripple G recorded the highest gain to lead the gainers’ chart with 9.20 per cent to close at 95k per share.

    LearnAfrica trailed with 5.49 per cent to close at N2.50 while Unity Bank rose by 2.13 per cent to close at 48k per share.

    AIICO also rose by 1.56 per cent to close at 65k while Livestock  inched up by 1.33 per cent to close at N1.52 per share.

    On the other hand, Meyer led the losers’ chart, dropping by 10 per cent to close at N2.79 per share.

    Linkage Assurance dropped by 8.93 per cent to close at 51k, while Union Bank Insurance dipped by 7.69 per cent to close at N6 per share.

    International Breweries  lost by 6.12 per cent to close at N6.90 while FBNH dipped by 5.71 per cent to close at N9.90 per share.

    Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions declining by 23.76 per cent.

    A total of 188.1billion units of shares valued at N2.36bn were exchanged in 4,890 deals.

    UBA was the toast of investors, accounting for 36.42 million shares valued at N278.56 billion.

    Guaranty Trust Holding Company (GTCo) came second with 24.39 million shares worth N531.3 million, while FBNH  sold 17.62 million shares valued at N175.82 million.

    Sterling Bank accounted for 14.28 million shares worth N21.91 million, while Zenith Bank transacted 12.84 million shares valued at N286.83 million.

    Source: NAN

nigerian new today bet9ja booking naij hausa link shortner bitly Douyin downloader