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  •  Crucial indices on NGX decline further by 0 29
    Crucial indices on NGX decline further by 0.29%
     Crucial indices on NGX decline further by 0 29
    Crucial indices on NGX decline further by 0.29%
    Economy3 hours ago

    Crucial indices on NGX decline further by 0.29%

    Crucial indices of the Nigerian Exchange Ltd. (NGX) downgraded further on Thursday, dropping by 0.29 per cent following selloffs in highly capitalised stocksThe market capitalisation shed N78 billion or 0.29 per cent to close at N26.723 trillion against N26.05 trillion on Tuesday.

    On market movers, the weak performance was driven by selloffs in stocks of  BUA Cement, MTNN as well as Acess Bank Holdings and Okumu Oil.Similarly, the All-Share Index which opened at 49.691.17 dipped by 144.79 points or 0.29 per cent to close at 49,546.38.N.

    E.M. Insurance Company recorded the highest loss to lead the laggards’ table, dropping by 9.98 per cent to close at N3.97 per share.

    Okomu Oil came second with a loss of 9.96 per cent to close at N27.50, while University Press dropped  by 9.91 per cent to close at N15.50 per share.

    Lasaco Assurance  depreciated by 9.57 per cent to close at N28.70, while Caverton Business solutions also declined by 3.96 per cent to close at N1.05 per share.

    Conversely, FTN Cocoa Processors led the gainers’ table, increasing by 10 per cent to close at 33k per share.

    Regency Alliance Insurance followed with a gain of  8.7 per cent to close at N52.55, while Prestige Assurance Company  gained 8.33 per cent to close at N3.99 per share.

    Red Star Express appreciated by 5.88 per cent to close at N9.50, while Multiverse Mining and Exploration a chalked up by 8.70 per cent to close at N2.10 per share.

    The volume of shares traded closed lower as investors bought and sold 146.99 million shares worth N2.65 billion in 3,180 deals.

    This was against the N4.12 billion on 128.79 million shares exchanged in 3,492 deals on Wednesday.

    FBN Holdings was the most active stock during the day, trading 39 million shares worth N431.89 million.

    United Bank for Africa followed with an account of 13 million shares valued at N91.23 million, while Access Bank traded 39.22 million shares worth N80.41million.

    Guaranty Trust Holding sold 6.51m shares worth N132.16 million, while Stanbic IBTC Bank exchanged 6.1million shares worth N172.86 million.


    NewsSourceCredit: NAN

  •  Investors gain N81bn as equity market closes positive
    Investors gain N81bn as equity market closes positive
     Investors gain N81bn as equity market closes positive
    Investors gain N81bn as equity market closes positive
    Economy2 weeks ago

    Investors gain N81bn as equity market closes positive

    Trading activities at the Nigeria equity market closed on positive posture, as investors raked in N81.01 billion gain on Friday.

    Similarly, the gain made the market capitalisation to close at N27.358 trillion from N27.276 trillion recorded on Thursday.

    Also, the All-Share Index (ASI) of the Nigerian Exchange Ltd. rose by 190.03 points or 0.28 per cent to 50,722.33 points from N50,582.30 points it was at the previous trading.

    Consequently, this indicated a year-to- date return of 18.74 per cent. 

    The market breadth was positive as 23 stocks advanced and nine declined. 

    On the performance level, Eterna led the gainers with 10 per cent share price appreciation closing at N7.15 per share.

    Multiverse Mining & Exploration followed by 9.94 per cent to close at N1.88 per share.

    Japaul Gold and Ventures rose by 9.68 per cent to close at 34k per share, while PZ Cussons Nigeria grew by 9.63 per cent to close at N10.25 per share.

    Also, Jaiz Bank increased by 8.86 per cent to close at 86k per share.

    On the other hand, Unilever Nigeria led with depreciation by 10 per cent to close at N13.50 per share.

    Skyway Aviation Handling Co. was the next, dropping by 8.76 per cent to close at N6.25 per share.

    Guinness Nigeria fell by 8.29 per cent to close at NN83 per share, while Consolidated Hallmark Insurance went down by 7.69 per cent to close at 60k per share.

    Regent Alliance Insurance depreciated by 7.41 per cent to close at 25k per share.

    Honeywell Flour Mill was the most active stock, traded with the highest volume of 22.02 million units of shares worth N64.08 million.

    It was followed by Guaranty Trust Holding which transacted  21.7 million units of shares valued at N445.68 millionFBN Holdings sold 11.3 million units of shares at N123.78 and Zenith Bank transacted 10.17 million units of shares worth N223.06 million.

    Transcorp traded 8.72 million units of shares valued at N9.87 million.

    .


    NewsSourceCredit: NAN

  •  Coronation Insurance records N14 13bn gross premium in 2021
    Coronation Insurance records N14.13bn gross premium in 2021
     Coronation Insurance records N14 13bn gross premium in 2021
    Coronation Insurance records N14.13bn gross premium in 2021
    Economy2 weeks ago

    Coronation Insurance records N14.13bn gross premium in 2021

    Coronation Insurance Plc said recorded N14.13 billion Gross Premium Written (GPW) for the financial year ended Dec. 31, 2021. The Chairman of the company, Mr Mutiu Sunmonu, said this in a statement containing the group’s Audited Financial Result for year 2021 sent to the Nigerian Exchange Ltd., on Friday in Lagos.

    Sunmonu said the figure was lower when compared with N16.1 billion posted in the comparative period of 2020. He said that the firm generated net underwriting income of N9.66 billion and paid N7.31 billion as claims during the period under review.

    He said it recorded a total underwriting profit of N1.25 billion, while its investment income stood at N1.51 billion.

    Sunmonu said the firm’s total assets stood at N39.80 billion, share capital N11.99 billion, while the share premium was N4.61 billion.

    He said that the company recordes contingency reserves of N3.66 billion while other reserves stood at N1.75 billion during the review period.


    NewsSourceCredit: NAN

  •  Investors profit taking pushes market capitalisation down 0 06
    Investors’ profit-taking pushes market capitalisation down 0.06%
     Investors profit taking pushes market capitalisation down 0 06
    Investors’ profit-taking pushes market capitalisation down 0.06%
    Economy2 weeks ago

    Investors’ profit-taking pushes market capitalisation down 0.06%

    Trading at the Nigerian Exchange Ltd. (NGX) on Wednesday took a plunge, as the market capitalisation closed at N27.29 trillion down from N27.3 trillion recorded on Tuesday.

    Consequently, the market lost N16.76 billion, representing 0.06 per cent.

    The negative performance was due to sell-offs in some largely capitalised stocks which include BUA Cement, MTN Nigeria and Nigerian Breweries.

    Similarly the All-Share Index (ASI) was down by 0.06 per cent to settle at 50,594.97 points from 50,626.04 posted at the previous trading.

    The year-to-date (YTD) return fell to 18.44 per cent.

    Market breadth closed positive as 22 stocks advanced while 15 others declined.

    At the end of the trading session, 121.16 million units of shares worth N4.169 billion were traded in 4,369 deals.

    This represents an increase of 45.69 per cent when compared with 129.166 million units of shares worth N2.861 in 4,706 deals.

    Lasaco Assurance led the gainers with 10 per cent price appreciation to close at 99k per share.

    UPDC followed with 9.71 per cent increase to close at N1.13 per share, while Honeywell Flour Mill went up by 9.69 per cent to close at N2.49 per share.

    Also, Chams rose by 8.7 per cent to close at 25k per share and Japaul Gold increased by 7.41 per cent to close at 29k per share.

    On the other hand, Learn Africa led the laggards’ chat with a depreciation of 10 per cent at N2.34 per share.

    University Press followed by 9.79 per cent to close N2.12 per share.

    Cornerstone Insurance and Unity Bank declined by 9.33 per cent and 4.26 per cent each to close at 68k and 45k respectively.

    Regent Alliance Insurance dropped by 3.85 per cent to close at 25k per share.

    MTN Nigeria recorded the highest volume of 10.4 million traded shares worth N2.4 billion.

    FBN Holdings followed with 9.53 million shares traded amounting to N104.18 million, while Zenith Bank sold 8.37 million shares worth N178.85 million.

    Also, United Bank for Africa transacted 6.81 million worth of shares at N48.08 million and AccessCorp sold 6.61 million shares worth N58.99 million .


    NewsSourceCredit: NAN