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  •  Trading on the Nigerian Stock Exchange NSE on Tuesday sustained upward posture in spite of a negative Gross Domestic Product GDP recorded in the second quarter of 2020 Speficially the market capitalisation increased further by N33 billion or 0 25 per cent to N13 194 trillion against N13 161 trillion posted on Monday In the same vein the All Share Index rose by 62 61 points or 0 25 per cent to 25 291 73 compared to the 25 229 12 points recorded on Monday Mr Ambrose Omordion the Chief Operating Officer InvestData Ltd said the market defied the negative Q2 GDP of 6 1 per cent due to improved half year corporate earnings Omordion stated that the half year corporate earnings performance were above the market expectations with emerging sectors outperforming the traditional sectors in the new normal The upturn was impacted by gains recorded in medium and large capitalised stocks amongst which are BUA Cement Julius Berger Flour Mills Lafarge Africa and NEM Insurance Analysts at Afrinvest Limited said Given the gaining streak we expect investors to take profit in subsequent trading days NEM Insurance dominated the gainers chart in percentage terms gaining 9 63 per cent to close at N2 05 per share Wapic Insurance trailed with 6 25 per cent to close at 34k while Japaul Oil appreciated by 4 76 per cent to close at 22k per share Jaiz Bank garnered 3 51 per cent to close at 59k while Julius Berger grew by 3 03 per cent to close at N17 per share Conversely Beta Glass led the losers chart in percentage terms losing 9 99 per cent to close at N55 40 per share May and Baker followed with a loss of 9 90 per cent to close at N2 73 while Arbico dipped 9 52 per cent to close at N1 14 per share C I Leasing shed 9 09 per cent to close at N4 while Cutix depreciated by 7 89 per cent to close at N1 75 per share The total volume of shares traded appreciated marginally by 0 06 per cent to 251 34 million shares worth N1 168 billion achieved in 3 713 deals This was against a turnover 251 19 million shares valued at N2 36 billion transacted in 3 737 deals on Monday Transactions in the shares of Transcorp topped the activity chart with an exchange of 94 88 million shares worth N52 28 million United Bank for Africa accounted for 33 17 million shares valued at N216 45 million while Wema Bank traded 14 55 million shares worth N7 43 million Zenith Bank sold 10 43 million shares valued at N176 45 million while Sterling Bank transacted 9 63 million shares worth N11 29 million NAN Edited By Emmanuel Okara NAN
    Nigeria stock market defies Q2 GDP, up by N33bn
     Trading on the Nigerian Stock Exchange NSE on Tuesday sustained upward posture in spite of a negative Gross Domestic Product GDP recorded in the second quarter of 2020 Speficially the market capitalisation increased further by N33 billion or 0 25 per cent to N13 194 trillion against N13 161 trillion posted on Monday In the same vein the All Share Index rose by 62 61 points or 0 25 per cent to 25 291 73 compared to the 25 229 12 points recorded on Monday Mr Ambrose Omordion the Chief Operating Officer InvestData Ltd said the market defied the negative Q2 GDP of 6 1 per cent due to improved half year corporate earnings Omordion stated that the half year corporate earnings performance were above the market expectations with emerging sectors outperforming the traditional sectors in the new normal The upturn was impacted by gains recorded in medium and large capitalised stocks amongst which are BUA Cement Julius Berger Flour Mills Lafarge Africa and NEM Insurance Analysts at Afrinvest Limited said Given the gaining streak we expect investors to take profit in subsequent trading days NEM Insurance dominated the gainers chart in percentage terms gaining 9 63 per cent to close at N2 05 per share Wapic Insurance trailed with 6 25 per cent to close at 34k while Japaul Oil appreciated by 4 76 per cent to close at 22k per share Jaiz Bank garnered 3 51 per cent to close at 59k while Julius Berger grew by 3 03 per cent to close at N17 per share Conversely Beta Glass led the losers chart in percentage terms losing 9 99 per cent to close at N55 40 per share May and Baker followed with a loss of 9 90 per cent to close at N2 73 while Arbico dipped 9 52 per cent to close at N1 14 per share C I Leasing shed 9 09 per cent to close at N4 while Cutix depreciated by 7 89 per cent to close at N1 75 per share The total volume of shares traded appreciated marginally by 0 06 per cent to 251 34 million shares worth N1 168 billion achieved in 3 713 deals This was against a turnover 251 19 million shares valued at N2 36 billion transacted in 3 737 deals on Monday Transactions in the shares of Transcorp topped the activity chart with an exchange of 94 88 million shares worth N52 28 million United Bank for Africa accounted for 33 17 million shares valued at N216 45 million while Wema Bank traded 14 55 million shares worth N7 43 million Zenith Bank sold 10 43 million shares valued at N176 45 million while Sterling Bank transacted 9 63 million shares worth N11 29 million NAN Edited By Emmanuel Okara NAN
    Nigeria stock market defies Q2 GDP, up by N33bn
    Economy2 years ago

    Nigeria stock market defies Q2 GDP, up by N33bn

    Trading on the Nigerian Stock Exchange (NSE) on Tuesday sustained upward posture, in spite of a negative Gross Domestic Product (GDP) recorded in the second quarter of 2020.

    Speficially, the market capitalisation increased further by N33 billion or 0.25 per cent to N13.194 trillion against N13.161 trillion posted on Monday.

    In the same vein, the All-Share Index rose by 62.61 points or 0.25 per cent to 25,291.73 compared to the 25,229.12 points recorded on Monday.

    Mr Ambrose Omordion, the Chief Operating Officer, InvestData Ltd., said the market defied the negative Q2 GDP of 6.1 per cent due to improved half year corporate earnings.

    Omordion stated that the half year corporate earnings performance were above the market expectations, with emerging sectors outperforming the traditional sectors in the new normal.

    The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; BUA Cement, Julius Berger, Flour Mills, Lafarge Africa and NEM Insurance.

    Analysts at Afrinvest Limited said “Given the gaining streak, we expect investors to take profit in subsequent trading days.”

    NEM Insurance dominated the gainers’ chart in percentage terms, gaining 9.63 per cent to close at N2.05 per share.

    Wapic Insurance trailed with 6.25 per cent to close at 34k, while Japaul Oil appreciated by 4.76 per cent to close at 22k per share.

    Jaiz Bank garnered 3.51 per cent to close at 59k, while Julius Berger grew by 3.03 per cent to close at N17 per share.

    Conversely, Beta Glass led the losers’ chart in percentage terms, losing 9.99 per cent to close at N55.40 per share.

    May and Baker followed with a loss of 9.90 per cent to close at N2.73, while Arbico dipped 9.52 per cent to close at N1.14 per share.

    C &I Leasing shed 9.09 per cent to close at N4, while Cutix depreciated by 7.89 per cent to close at N1.75 per share.

    The total volume of shares traded appreciated marginally by 0.06 per cent to 251.34 million shares, worth N1.168 billion achieved in 3,713 deals.

    This was against a turnover 251.19 million shares valued at N2.36 billion transacted in 3,737 deals on Monday.

    Transactions in the shares of Transcorp topped the activity chart with an exchange of 94.88 million shares worth N52.28 million.

    United Bank for Africa accounted for 33.17 million shares valued at N216.45 million, while Wema Bank traded 14.55 million shares worth N7.43 million.

    Zenith Bank sold 10.43 million shares valued at N176.45 million, while Sterling Bank transacted 9.63 million shares worth N11.29 million. ( NAN)


    Edited By: Emmanuel Okara (NAN)

  •  Transactions on the Nigerian Stock Exchange NSE ended negative on Friday with turnover and key market indices dropping by 22 61 per cent and 0 17 per cent respectively Speficially a total of 160 50 million shares worth N1 47 billion were traded in 2 997 deals This was against 207 40 million valued at N1 70 billion in 3 323 deals on Thursday Custodian and Allied Investment emerged investors delight accounting for 14 05 million shares worth N67 46 million Japaul came second accounting for 12 22 million shares valued at N2 71 million while Nigerian Breweries sold 11 66 million shares worth N349 61 million Mutual Benefit transacted 11 54 million shares valued at N2 33 million while FBN Holdings exchanged 11 33 million shares worth N56 49 million Also the market capitalisation of listed equities dipped N22 billion or 0 17 per cent to close at N12 669 trillion from N12 691 trillion reported on Thursday In the same vein the All Share Index which opened at 24 330 06 shed 42 40 points or 0 17 per cent to close at 24 287 66 Nigeria Breweries topped the losers chart dropping by 70k to close at N30 per share Guaranty Trust Bank trailed with a loss of 50k to close at N21 50 while Dangote Sugar lost 20k to close at N12 per share NEM Insurance dropped 6k to close at N2 while United Bank for Africa was down by 5k to close at N6 15 per share On the other hand Ardova led the gainers table gaining 90k to close at N12 55 per share Glaxosmithkline followed with a gain of 40k to close at N4 75 while Oando appreciated by 8k to close at N2 31per share NAHCO gained 8k to close at N2 06 while Caverton improved by 7k to close at N1 90 per share Edited By Oluwole Sogunle NAN
    Market indices, turnover drop on NSE
     Transactions on the Nigerian Stock Exchange NSE ended negative on Friday with turnover and key market indices dropping by 22 61 per cent and 0 17 per cent respectively Speficially a total of 160 50 million shares worth N1 47 billion were traded in 2 997 deals This was against 207 40 million valued at N1 70 billion in 3 323 deals on Thursday Custodian and Allied Investment emerged investors delight accounting for 14 05 million shares worth N67 46 million Japaul came second accounting for 12 22 million shares valued at N2 71 million while Nigerian Breweries sold 11 66 million shares worth N349 61 million Mutual Benefit transacted 11 54 million shares valued at N2 33 million while FBN Holdings exchanged 11 33 million shares worth N56 49 million Also the market capitalisation of listed equities dipped N22 billion or 0 17 per cent to close at N12 669 trillion from N12 691 trillion reported on Thursday In the same vein the All Share Index which opened at 24 330 06 shed 42 40 points or 0 17 per cent to close at 24 287 66 Nigeria Breweries topped the losers chart dropping by 70k to close at N30 per share Guaranty Trust Bank trailed with a loss of 50k to close at N21 50 while Dangote Sugar lost 20k to close at N12 per share NEM Insurance dropped 6k to close at N2 while United Bank for Africa was down by 5k to close at N6 15 per share On the other hand Ardova led the gainers table gaining 90k to close at N12 55 per share Glaxosmithkline followed with a gain of 40k to close at N4 75 while Oando appreciated by 8k to close at N2 31per share NAHCO gained 8k to close at N2 06 while Caverton improved by 7k to close at N1 90 per share Edited By Oluwole Sogunle NAN
    Market indices, turnover drop on NSE
    Economy2 years ago

    Market indices, turnover drop on NSE

    Transactions on the Nigerian Stock Exchange (NSE) ended negative on Friday with turnover and key market indices dropping by 22.61 per cent and 0.17 per cent, respectively.

    Speficially, a total of 160.50 million shares worth N1.47 billion were traded in 2,997 deals.

    This was against 207.40 million valued at N1.70 billion in 3,323 deals on Thursday.

    Custodian and Allied Investment emerged investors delight, accounting for 14.05 million shares worth N67.46 million.

    Japaul came second, accounting for 12.22 million shares valued at N2.71 million, while Nigerian Breweries sold 11.66 million shares worth N349.61 million.

    Mutual Benefit transacted 11.54 million shares valued at N2.33 million, while FBN Holdings exchanged 11.33 million shares worth N56.49 million.

    Also, the market capitalisation of listed equities dipped N22 billion or 0.17 per cent to close at N12.669 trillion from N12.691 trillion reported on Thursday.

    In the same vein, the All-Share Index which opened at 24,330.06 shed 42.40 points or 0.17 per cent to close at 24,287.66.

    Nigeria Breweries topped the losers’ chart, dropping by 70k to close at N30 per share.

    Guaranty Trust Bank trailed with a loss of 50k to close at N21.50, while Dangote Sugar lost 20k to close at N12 per share.

    NEM Insurance dropped 6k to close at N2, while United Bank for Africa was down by 5k to close at N6.15 per share.

    On the other hand, Ardova led the gainers’ table, gaining 90k to close at N12.55 per share.

    Glaxosmithkline followed with a gain of 40k to close at N4.75, while Oando appreciated by 8k to close at N2.31per share.

    NAHCO gained 8k to close at N2.06, while Caverton improved by 7k to close at N1.90 per share.


    Edited By: Oluwole Sogunle (NAN)

  •  Nem Insurance Plc on Thursday announced a gross premium of N19 8 billion and dividend payment of 15k per share for the financial year ended Dec 31 2019 The company made the announcement at its 2019 Annual General Meeting AGM by proxy held in Lagos Addressing the shareholders at the meeting Mr Fidelis Ayebae Nem Insurance Chairman said gross premium during the period stood at N19 8 billion compared with N15 04 billion achieved in 2018 an increase of 31 3 percent Ayebae said net premium earned during the period stood at N12 6 billion indicating an increase of 18 percent when compared with N10 7 billion posted in the comparative period of 2018 He stated that the company s investment income stood at N878 2 million compared with N952 8 million achieved in 2018 a decrease of 7 8 percent due to the crash in interest rate Ayebae noted that gross claim of N7 4 billion was incurred in 2019 in contrast with N6 01 billion in 2018 representing an increase of 22 7 percent In 2020 outlook he assured the shareholders that the company had adopted prudent policies to grow market share by leveraging extensively on its robust technology infrastructure in spite of the COVID 19 pandemic Since the outbreak of the novel strain of Coronavirus specifically identified as COVID 19 in December 2019 governments worldwide have enacted emergency measures to combat the spread of the virus NEM is also actively assessing and responding where possible to its potential impact on the company s business The focus has been on the safety of our personnel ensuring the continuity of access to our products by our clients and also efficient service delivery As the situation continues to be very dynamic the company has been working diligently to assess the potential risks posed by COVID 19 to its business on an ongoing basis and to realign its strategies accordingly he said Also speaking Mr Tope Smart the company s Group Managing Director said shareholders fund increased to N14 1 billion from N12 4 billion recorded in 2018 Smart said that net claims paid during the period rose by 54 percent to N3 9 billion from N2 5 billion in the corresponding period of 2018 He explained that the huge claims paid during the period had a negative impact on its bottom line as profit before tax stood at N1 9 billion from N2 6 billion in 2018 a decrease of 29 percent However profit after tax increased to N2 4 billion from N2 billion an increase of 18 percent due to deferred tax assets From our associate in Ghana we achieved one percent increase in profit from N21 2 million in 2018 to N21 4 million in 2019 We are confident of improving on this next year he added Smart who is also the Chief Executive Officer said the company would pay a dividend of 15k per share to its shareholders during the period under review Speaking on recapitalization exercise Smart assured the shareholders that the company was working very hard to ensure compliance before the due date During the year our regulator National Insurance Commission NAICOM increased the minimum paid up capital of all Insurance and Reinsurance companies and were initially given up to June 30 2020 to comply This period was subsequently changed to December 31 2020 due to pressure from operators We are working hard to ensure compliance before the due date Our associate in Ghana RegencyNEM Insurance is equally going through a recapitalization process as directed by the National Insurance Commission Ghana However they have up to June 2021 to comply and we are working toward complying with this new capital regime also he said Edited By Chioma Ugboma Oluwole Sogunle NAN
    Nem Insurance declares N19.8bn gross premium, 15k dividend for 2019
     Nem Insurance Plc on Thursday announced a gross premium of N19 8 billion and dividend payment of 15k per share for the financial year ended Dec 31 2019 The company made the announcement at its 2019 Annual General Meeting AGM by proxy held in Lagos Addressing the shareholders at the meeting Mr Fidelis Ayebae Nem Insurance Chairman said gross premium during the period stood at N19 8 billion compared with N15 04 billion achieved in 2018 an increase of 31 3 percent Ayebae said net premium earned during the period stood at N12 6 billion indicating an increase of 18 percent when compared with N10 7 billion posted in the comparative period of 2018 He stated that the company s investment income stood at N878 2 million compared with N952 8 million achieved in 2018 a decrease of 7 8 percent due to the crash in interest rate Ayebae noted that gross claim of N7 4 billion was incurred in 2019 in contrast with N6 01 billion in 2018 representing an increase of 22 7 percent In 2020 outlook he assured the shareholders that the company had adopted prudent policies to grow market share by leveraging extensively on its robust technology infrastructure in spite of the COVID 19 pandemic Since the outbreak of the novel strain of Coronavirus specifically identified as COVID 19 in December 2019 governments worldwide have enacted emergency measures to combat the spread of the virus NEM is also actively assessing and responding where possible to its potential impact on the company s business The focus has been on the safety of our personnel ensuring the continuity of access to our products by our clients and also efficient service delivery As the situation continues to be very dynamic the company has been working diligently to assess the potential risks posed by COVID 19 to its business on an ongoing basis and to realign its strategies accordingly he said Also speaking Mr Tope Smart the company s Group Managing Director said shareholders fund increased to N14 1 billion from N12 4 billion recorded in 2018 Smart said that net claims paid during the period rose by 54 percent to N3 9 billion from N2 5 billion in the corresponding period of 2018 He explained that the huge claims paid during the period had a negative impact on its bottom line as profit before tax stood at N1 9 billion from N2 6 billion in 2018 a decrease of 29 percent However profit after tax increased to N2 4 billion from N2 billion an increase of 18 percent due to deferred tax assets From our associate in Ghana we achieved one percent increase in profit from N21 2 million in 2018 to N21 4 million in 2019 We are confident of improving on this next year he added Smart who is also the Chief Executive Officer said the company would pay a dividend of 15k per share to its shareholders during the period under review Speaking on recapitalization exercise Smart assured the shareholders that the company was working very hard to ensure compliance before the due date During the year our regulator National Insurance Commission NAICOM increased the minimum paid up capital of all Insurance and Reinsurance companies and were initially given up to June 30 2020 to comply This period was subsequently changed to December 31 2020 due to pressure from operators We are working hard to ensure compliance before the due date Our associate in Ghana RegencyNEM Insurance is equally going through a recapitalization process as directed by the National Insurance Commission Ghana However they have up to June 2021 to comply and we are working toward complying with this new capital regime also he said Edited By Chioma Ugboma Oluwole Sogunle NAN
    Nem Insurance declares N19.8bn gross premium, 15k dividend for 2019
    Economy2 years ago

    Nem Insurance declares N19.8bn gross premium, 15k dividend for 2019

    Nem Insurance Plc on Thursday announced a gross premium of N19.8 billion and dividend payment of 15k per share for the financial year ended Dec. 31, 2019.The company made the announcement at its 2019 Annual General Meeting (AGM) by proxy held in Lagos.Addressing the shareholders at the meeting, Mr. Fidelis Ayebae, Nem Insurance Chairman, said gross premium during the period stood at N19.8 billion compared with N15.04 billion achieved in 2018, an increase of 31.3 percent.Ayebae said net premium earned during the period stood at N12.6 billion, indicating an increase of 18 percent when compared with N10.7 billion posted in the comparative period of 2018.He stated that the company’s investment income stood at N878.2 million compared with N952.8 million achieved in 2018, a decrease of 7.8 percent due to the crash in interest rate.Ayebae noted that gross claim of N7.4 billion was incurred in 2019 in contrast with N6.01 billion in 2018, representing an increase of 22.7 percent.In 2020 outlook, he assured the shareholders that the company had adopted prudent policies to grow market share by leveraging extensively on its robust technology infrastructure in spite of the COVID-19 pandemic.“Since the outbreak of the novel strain of Coronavirus, specifically identified as “COVID-19” in December 2019, governments worldwide have enacted emergency measures to combat the spread of the virus.“NEM is also actively assessing and responding where possible,  to its potential impact on the company’s business.“The focus has been on the safety of our personnel, ensuring the continuity of access to our products by our clients and also efficient service delivery.“As the situation continues to be very dynamic, the company has been working diligently to assess the potential risks posed by COVID-19 to its business on an ongoing basis and to realign its strategies accordingly,” he said.Also speaking, Mr Tope Smart, the company’s Group Managing Director, said shareholders fund increased to N14.1 billion from N12.4 billion recorded in 2018.Smart said that net claims paid during the period rose by 54 percent to N3.9 billion from N2.5 billion in the corresponding period of 2018.He explained that the huge claims paid during the period had a negative impact on its bottom line as profit before tax stood at N1.9 billion from N2.6 billion in 2018, a decrease of 29 percent.“However, profit after tax increased to N2.4 billion from N2 billion, an increase of 18 percent due to deferred tax assets.“From our associate in Ghana, we achieved one percent increase in profit from N21.2 million in 2018 to N21.4 million in 2019. We are confident of improving on this next year,” he added.Smart, who is also the Chief Executive Officer, said the company would pay a dividend of 15k per share to its shareholders during the period under review.Speaking on recapitalization exercise, Smart assured the shareholders that the company was working very hard to ensure compliance before the due date.“During the year, our regulator, National Insurance Commission (NAICOM) increased the minimum paid-up capital of all Insurance and Reinsurance companies and were initially given up to June 30, 2020, to comply.“This period was subsequently changed to December 31, 2020, due to pressure from operators. We are working hard to ensure compliance before the due date.“Our associate in Ghana, RegencyNEM Insurance is equally going through a recapitalization process as directed by the National Insurance Commission, Ghana.“However, they have up to June 2021 to comply and we are working toward complying with this new capital regime also,” he said.Edited By: Chioma Ugboma/Oluwole Sogunle (NAN)

  •  Sentiments in the nation s bourse remained positive on Thursday following price appreciation in Dangote Cement and 17 other stocks Consequently the All Share Index rose by 183 48 points or 0 77 per cent to close at 23 892 92 compared to 23 709 44 achieved on Wednesday Accordingly Month to Date gain increased to 3 8 per cent as Year to Date losses moderated to 11 0 per cent Also the market capitalisation which opened at N12 356 trillion inched higher by N85 billion to close at N12 441 trillion The uptrend was impacted by gains recorded in large and medium capitalised stocks amongst which are Nestle Nigeria Dangote Cement Guaranty Trust Bank Zenith Bank and Fidson Healthcare The market breadth closed positively with 18 gainers compared with 14 losers Fidson Healthcare recorded the highest price in percentage terms with a growth of 9 62 per cent to close at N2 62 per share NPF Microfinance Bank followed with 9 46 per cent to close at N1 62 while May amp Baker rose by 5 78 per cent to close at N3 11 per share FCMB Group grew by 5 26 per cent to close at N1 80 while Regency Alliance appreciated by five per cent to close at 21k per share Conversely Custodian Investment led the losers chart in percentage terms dropping by 9 52 per cent to close at N5 70 per share Unity Bank followed with 8 33 per cent to close at 44k while AIICO Insurance declined by 7 53 per cent to close at 86k per share NEM Insurance lost 7 41 per cent to close at N2 while Linkage Assurance shed 6 82 per cent each to close at 41k per share Meanwhile the total volume of shares sold increased by 14 76 per cent with an exchange of 182 74 million shares valued at N2 33 billion in 4 542 deals This was in contrast with 159 24 million worth N1 54 billion traded in 3 573 deals on Wednesday Transactions in the shares of Zenith Bank topped the activity chart with 27 28 million shares valued at N413 34 million Guaranty Trust Bank followed with 24 62 million shares worth N540 71 million while FBN Holdings accounted for 18 84 million shares valued at N92 82 million Custodian Investment traded 15 22 million shares worth N95 39 million while Fidson Healthcare transacted 11 41 million shares worth N27 24 million Edited By Edith Bolokor Olagoke Olatoye NAN
    NSE trading maintains positive trend with 0.77% growth
     Sentiments in the nation s bourse remained positive on Thursday following price appreciation in Dangote Cement and 17 other stocks Consequently the All Share Index rose by 183 48 points or 0 77 per cent to close at 23 892 92 compared to 23 709 44 achieved on Wednesday Accordingly Month to Date gain increased to 3 8 per cent as Year to Date losses moderated to 11 0 per cent Also the market capitalisation which opened at N12 356 trillion inched higher by N85 billion to close at N12 441 trillion The uptrend was impacted by gains recorded in large and medium capitalised stocks amongst which are Nestle Nigeria Dangote Cement Guaranty Trust Bank Zenith Bank and Fidson Healthcare The market breadth closed positively with 18 gainers compared with 14 losers Fidson Healthcare recorded the highest price in percentage terms with a growth of 9 62 per cent to close at N2 62 per share NPF Microfinance Bank followed with 9 46 per cent to close at N1 62 while May amp Baker rose by 5 78 per cent to close at N3 11 per share FCMB Group grew by 5 26 per cent to close at N1 80 while Regency Alliance appreciated by five per cent to close at 21k per share Conversely Custodian Investment led the losers chart in percentage terms dropping by 9 52 per cent to close at N5 70 per share Unity Bank followed with 8 33 per cent to close at 44k while AIICO Insurance declined by 7 53 per cent to close at 86k per share NEM Insurance lost 7 41 per cent to close at N2 while Linkage Assurance shed 6 82 per cent each to close at 41k per share Meanwhile the total volume of shares sold increased by 14 76 per cent with an exchange of 182 74 million shares valued at N2 33 billion in 4 542 deals This was in contrast with 159 24 million worth N1 54 billion traded in 3 573 deals on Wednesday Transactions in the shares of Zenith Bank topped the activity chart with 27 28 million shares valued at N413 34 million Guaranty Trust Bank followed with 24 62 million shares worth N540 71 million while FBN Holdings accounted for 18 84 million shares valued at N92 82 million Custodian Investment traded 15 22 million shares worth N95 39 million while Fidson Healthcare transacted 11 41 million shares worth N27 24 million Edited By Edith Bolokor Olagoke Olatoye NAN
    NSE trading maintains positive trend with 0.77% growth
    Economy3 years ago

    NSE trading maintains positive trend with 0.77% growth

    Sentiments in the nation’s bourse remained positive on Thursday following price appreciation in Dangote Cement and 17 other stocks.

    Consequently, the All-Share Index rose by 183.48 points or 0.77 per cent to close at 23,892.92 compared to 23,709.44 achieved on Wednesday.

    Accordingly, Month-to-Date gain increased to 3.8 per cent, as Year-to-Date losses moderated to -11.0 per cent.

    Also, the market capitalisation, which opened at N12.356 trillion, inched higher by N85 billion to close at N12.441 trillion.

    The uptrend was impacted by gains recorded in large and medium capitalised stocks, amongst which are: Nestle Nigeria, Dangote Cement, Guaranty Trust Bank, Zenith Bank and Fidson Healthcare.

    The market breadth closed positively with 18 gainers compared with 14 losers.

    Fidson Healthcare recorded the highest price in percentage terms with a growth of 9.62 per cent to close at N2.62 per share.

    NPF Microfinance Bank followed with 9.46 per cent to close at N1.62, while May & Baker rose by 5.78 per cent to close at N3.11 per share.

    FCMB Group grew by 5.26 per cent to close at N1.80, while Regency Alliance appreciated by five per cent to close at 21k per share.

    Conversely, Custodian Investment led the losers’ chart in percentage terms, dropping by 9.52 per cent to close at N5.70 per share.

    Unity Bank followed with 8.33 per cent to close at 44k, while AIICO Insurance declined by 7.53 per cent to close at 86k per share.

    NEM Insurance lost 7.41 per cent to close at N2, while Linkage Assurance shed 6.82 per cent each to close at 41k per share.

    Meanwhile, the total volume of shares sold increased by 14.76 per cent with an exchange of 182.74 million shares, valued at N2.33 billion in 4,542 deals.

    This was in contrast with 159.24 million worth N1.54 billion traded in 3,573 deals on Wednesday.

    Transactions in the shares of Zenith Bank topped the activity chart with 27.28 million shares valued at N413.34 million.

    Guaranty Trust Bank followed with 24.62 million shares worth N540.71 million, while FBN Holdings accounted for 18.84 million shares valued at N92.82 million.

    Custodian Investment traded 15.22 million shares worth N95.39 million, while Fidson Healthcare transacted 11.41 million shares worth N27.24 million.



    Edited By: Edith Bolokor/Olagoke Olatoye (NAN)

  •  The Nigerian Stock Exchange NSE resumed trading for the month of May with an increase of 0 30 per cent just as the country eases lockdown Specifically the All Share Index rose by 68 85 points or 0 30 per cent to close at 23 089 86 against 23 021 01 achieved on Thursday Similarly the market capitalisation inched higher by N36 billion to close at N12 033 trillion against N11 997 trillion posted on Thursday The marginal increase was due to gains recorded in medium and large capitalised stocks amongst which are MTN Nigeria Ardova Dangote Sugar Refinery UAC of Nigeria and Union Bank of Nigeria Analysts at Afrinvest Limited expected the performance of the domestic bourse to be shaped by releases of corporate earnings and bargain hunting activities this week Similarly analysts at United Capital Plc said This week the implementation of OPEC supply cut deal and the influx of more quarterly earnings will drive sentiments amid increasing number of countries weighing the need to unlock economic activities as the debate around health and economic wellbeing gets louder Prestige Assurance dominated the gainers chart in percentage terms growing by 10 per cent to close at 55k per share Ardova followed with a gain 9 96 per cent to close at N12 70 while Wapic Insurance appreciated by 7 69 per cent to close at 28k per share Learn Africa went up by 6 80 per cent to close at N1 10 while Mutual Benefit Assurance appreciated by five per cent to close at 21k per share Conversely NEM Insurance and Neimeth International Pharmaceuticals led the losers chart in percentage terms dropping by 10 per cent each to close at N1 98 and 54k per share respectively Chams followed with a decline of 8 70 per cent to close at 21k per share Access Bank shed 7 58 per cent to close at N6 10 while University Press depreciated by 7 55 per cent to close at 98k per share In spite of the growth in market indices the total volume of shares traded decreased by 30 49 per cent with an exchange of 249 86 million shares worth N2 39 billion transacted in 6 538 deals This was in contrast with a turnover of 359 47 million shares valued at N3 26 billion traded in 4 946 deals on Thursday Transactions in the shares of Guaranty Trust Bank topped the activity chart with 44 53 million shares valued at N935 21 million FBN Holdings followed with 40 71 million shares worth N187 41 million while United Bank for Africa UBA traded 24 75 million shares valued at N144 55 million Zenith Bank sold 22 85 million shares worth N328 51 million while Access Bank transacted 14 51 million shares valued at N89 39 million Edited By Salif Atojoko NAN
    NSE: Indices grow by 0.30% on first trading day in May
     The Nigerian Stock Exchange NSE resumed trading for the month of May with an increase of 0 30 per cent just as the country eases lockdown Specifically the All Share Index rose by 68 85 points or 0 30 per cent to close at 23 089 86 against 23 021 01 achieved on Thursday Similarly the market capitalisation inched higher by N36 billion to close at N12 033 trillion against N11 997 trillion posted on Thursday The marginal increase was due to gains recorded in medium and large capitalised stocks amongst which are MTN Nigeria Ardova Dangote Sugar Refinery UAC of Nigeria and Union Bank of Nigeria Analysts at Afrinvest Limited expected the performance of the domestic bourse to be shaped by releases of corporate earnings and bargain hunting activities this week Similarly analysts at United Capital Plc said This week the implementation of OPEC supply cut deal and the influx of more quarterly earnings will drive sentiments amid increasing number of countries weighing the need to unlock economic activities as the debate around health and economic wellbeing gets louder Prestige Assurance dominated the gainers chart in percentage terms growing by 10 per cent to close at 55k per share Ardova followed with a gain 9 96 per cent to close at N12 70 while Wapic Insurance appreciated by 7 69 per cent to close at 28k per share Learn Africa went up by 6 80 per cent to close at N1 10 while Mutual Benefit Assurance appreciated by five per cent to close at 21k per share Conversely NEM Insurance and Neimeth International Pharmaceuticals led the losers chart in percentage terms dropping by 10 per cent each to close at N1 98 and 54k per share respectively Chams followed with a decline of 8 70 per cent to close at 21k per share Access Bank shed 7 58 per cent to close at N6 10 while University Press depreciated by 7 55 per cent to close at 98k per share In spite of the growth in market indices the total volume of shares traded decreased by 30 49 per cent with an exchange of 249 86 million shares worth N2 39 billion transacted in 6 538 deals This was in contrast with a turnover of 359 47 million shares valued at N3 26 billion traded in 4 946 deals on Thursday Transactions in the shares of Guaranty Trust Bank topped the activity chart with 44 53 million shares valued at N935 21 million FBN Holdings followed with 40 71 million shares worth N187 41 million while United Bank for Africa UBA traded 24 75 million shares valued at N144 55 million Zenith Bank sold 22 85 million shares worth N328 51 million while Access Bank transacted 14 51 million shares valued at N89 39 million Edited By Salif Atojoko NAN
    NSE: Indices grow by 0.30% on first trading day in May
    Economy3 years ago

    NSE: Indices grow by 0.30% on first trading day in May

    The Nigerian Stock Exchange (NSE) resumed trading for the month of May with an increase of 0.30 per cent just as the country eases lockdown.

    Specifically, the All-Share Index rose by 68.85 points or 0.30 per cent to close at 23,089.86 against 23,021.01 achieved on Thursday.

    Similarly, the market capitalisation inched higher by N36 billion to close at N12.033 trillion against N11.997 trillion posted on Thursday.

    The marginal increase was due to gains recorded in medium and large capitalised stocks, amongst which are: MTN Nigeria, Ardova, Dangote Sugar Refinery, UAC of Nigeria and Union Bank of Nigeria.

    Analysts at Afrinvest Limited expected the performance of the domestic bourse to be shaped by releases of corporate earnings and bargain hunting activities this week.

    Similarly, analysts at United Capital Plc, said, “This week, the implementation of OPEC supply cut deal and the influx of more quarterly earnings will drive sentiments amid increasing number of countries weighing the need to unlock economic activities as the debate around health and economic wellbeing gets louder.”

    Prestige Assurance dominated the gainers’ chart in percentage terms, growing by 10 per cent to close at 55k per share.

    Ardova followed with a gain 9.96 per cent to close at N12.70, while Wapic Insurance appreciated by 7.69 per cent to close at 28k per share.

    Learn Africa went up by 6.80 per cent to close at N1.10, while Mutual Benefit Assurance appreciated by five per cent, to close at 21k per share.

    Conversely, NEM Insurance and Neimeth International Pharmaceuticals led the losers’ chart in percentage terms, dropping by 10 per cent each, to close at N1.98 and 54k per share, respectively.

    Chams followed with a decline of 8.70 per cent to close at 21k per share.

    Access Bank shed 7.58 per cent to close at N6.10, while University Press depreciated by 7.55 per cent to close at 98k per share.

    In spite of the growth in market indices, the total volume of shares traded decreased by 30.49 per cent with an exchange of 249.86 million shares, worth N2.39 billion transacted in 6,538 deals.

    This was in contrast with a turnover of 359.47 million shares valued at N3.26 billion traded in 4,946 deals on Thursday.

    Transactions in the shares of Guaranty Trust Bank topped the activity chart with 44.53 million shares valued at N935.21 million.

    FBN Holdings followed with 40.71 million shares worth N187.41 million, while United Bank for Africa (UBA) traded 24.75 million shares valued at N144.55 million.

    Zenith Bank sold 22.85 million shares worth N328.51 million, while Access Bank transacted 14.51 million shares valued at N89.39 million.


    Edited By: Salif Atojoko (NAN)

  •  Trading on the Nigerian Stock Exchange NSE closed upbeat on Wednesday following gains in blue chips stocks with the All Share Index advancing by 0 66 per cent thereby reversing two days downward trend Specifically the All Share Index increased by 150 38 points representing a gain of 0 66 per cent to close at 22 780 30 compared with 22 629 92 recorded on Tuesday Similarly the market capitalisation which opened at N11 793 trillion rose by N79 billion to close at N11 872 trillion The uptrend was impacted by gains recorded in large and medium capitalised stocks amongst which are Lafarge Africa Zenith Bank BUA Cement Guaranty Trust Bank and PZ Cussons Analysts at Afrinvest Limited expected trading to remain mixed for the rest of the week Market breadth closed positive with 19 gainers in contrast with four laggards NEM Insurance recorded the highest price gain of 10 per cent to close at N2 20 per share Lafarge Africa followed with a gain 9 66 per cent to close at N11 35 while Livestock rose by 7 69 per cent to close at 70k per share Transcorp rose by 7 35 per cent to close at 73k while PZ Cussons appreciated by 6 25 per cent to close at N4 25 per share On the contrary Skyway Aviation Handling Company led the losers chart in percentage terms dropping by 8 16 per cent to close at N1 80 Union Diagnostic amp Clinical Services followed with a decline of 6 45 per cent to close at 29k per share Guinness Nigeria lost 6 40 per cent to close at N19 while Caverton shed 4 26 per cent to close at N2 25 per share In spite of the growth in market indices the total volume of shares traded dipped 25 61 per cent with an exchange of 186 23 million shares worth N1 85 billion traded in 3 446 deals This was against a turnover of 186 23 million shares valued at N1 85 billion transacted in 3 446 deals on Tuesday Transactions in the shares of Zenith Bank topped the activity chart with 30 96 million shares worth N420 53 million FBN Holdings accounted for 30 72 million shares valued at N130 49 million while Guaranty Trust Bank traded 25 77 million shares worth N486 79 million United Bank for Africa sold 19 99 million shares valued at N115 54 million while Lafarge Africa transacted 17 11 million shares worth N192 51 million Edited By Edwin Nwachukwu Maharazu Ahmed NAN
    Trading rebound on NSE, index up by 0.66%
     Trading on the Nigerian Stock Exchange NSE closed upbeat on Wednesday following gains in blue chips stocks with the All Share Index advancing by 0 66 per cent thereby reversing two days downward trend Specifically the All Share Index increased by 150 38 points representing a gain of 0 66 per cent to close at 22 780 30 compared with 22 629 92 recorded on Tuesday Similarly the market capitalisation which opened at N11 793 trillion rose by N79 billion to close at N11 872 trillion The uptrend was impacted by gains recorded in large and medium capitalised stocks amongst which are Lafarge Africa Zenith Bank BUA Cement Guaranty Trust Bank and PZ Cussons Analysts at Afrinvest Limited expected trading to remain mixed for the rest of the week Market breadth closed positive with 19 gainers in contrast with four laggards NEM Insurance recorded the highest price gain of 10 per cent to close at N2 20 per share Lafarge Africa followed with a gain 9 66 per cent to close at N11 35 while Livestock rose by 7 69 per cent to close at 70k per share Transcorp rose by 7 35 per cent to close at 73k while PZ Cussons appreciated by 6 25 per cent to close at N4 25 per share On the contrary Skyway Aviation Handling Company led the losers chart in percentage terms dropping by 8 16 per cent to close at N1 80 Union Diagnostic amp Clinical Services followed with a decline of 6 45 per cent to close at 29k per share Guinness Nigeria lost 6 40 per cent to close at N19 while Caverton shed 4 26 per cent to close at N2 25 per share In spite of the growth in market indices the total volume of shares traded dipped 25 61 per cent with an exchange of 186 23 million shares worth N1 85 billion traded in 3 446 deals This was against a turnover of 186 23 million shares valued at N1 85 billion transacted in 3 446 deals on Tuesday Transactions in the shares of Zenith Bank topped the activity chart with 30 96 million shares worth N420 53 million FBN Holdings accounted for 30 72 million shares valued at N130 49 million while Guaranty Trust Bank traded 25 77 million shares worth N486 79 million United Bank for Africa sold 19 99 million shares valued at N115 54 million while Lafarge Africa transacted 17 11 million shares worth N192 51 million Edited By Edwin Nwachukwu Maharazu Ahmed NAN
    Trading rebound on NSE, index up by 0.66%
    Economy3 years ago

    Trading rebound on NSE, index up by 0.66%

    Trading on the Nigerian Stock Exchange (NSE) closed upbeat on Wednesday following gains in blue chips stocks with the All-Share Index advancing by 0.66 per cent, thereby reversing two days downward trend.

    Specifically, the All-Share Index increased by 150.38 points, representing a gain of 0.66 per cent to close at 22,780.30 compared with 22,629.92 recorded on Tuesday.

    Similarly, the market capitalisation which opened at N11.793 trillion rose by N79 billion to close at N11.872 trillion.

    The uptrend was impacted by gains recorded in large and medium capitalised stocks, amongst which are; Lafarge Africa, Zenith Bank, BUA Cement, Guaranty Trust Bank and PZ Cussons.

    Analysts at Afrinvest Limited expected trading to remain mixed for the rest of the week.

    Market breadth closed positive with 19 gainers in contrast with four laggards.

    NEM Insurance recorded the highest price gain of 10 per cent, to close at N2.20 per share.

    Lafarge Africa followed with a gain 9.66 per cent to close at N11.35, while Livestock rose by 7.69 per cent to close at 70k per share.

    Transcorp rose by 7.35 per cent to close at 73k, while PZ Cussons appreciated by 6.25 per cent to close at N4.25 per share.

    On the contrary, Skyway Aviation Handling Company led the losers’ chart in percentage terms, dropping by 8.16 per cent, to close at N1.80.

    Union Diagnostic & Clinical Services followed with a decline of 6.45 per cent to close at 29k per share.

    Guinness Nigeria lost 6.40 per cent to close at N19, while Caverton shed 4.26 per cent to close at N2.25, per share.

    In spite of the growth in market indices, the total volume of shares traded dipped 25.61 per cent with an exchange of 186.23 million shares worth N1.85 billion traded in 3,446 deals.

    This was against a turnover of 186.23 million shares valued at N1.85 billion transacted in 3,446 deals on Tuesday.

    Transactions in the shares of Zenith Bank topped the activity chart with 30.96 million shares worth N420.53 million.

    FBN Holdings accounted for 30.72 million shares valued at N130.49 million, while Guaranty Trust Bank traded 25.77 million shares worth N486.79 million.

    United Bank for Africa sold 19.99 million shares valued at N115.54 million, while Lafarge Africa transacted 17.11 million shares worth N192.51 million.



    Edited By: Edwin Nwachukwu/Maharazu Ahmed (NAN)

  •  The Nigerian Stock Exchange NSE market indicators on Tuesday recorded further depreciation dropping by 0 14 per cent Specifically the All Share Index which opened at 21 330 79 lost 30 32 points or 0 14 per cent to close at 21 300 47 Similarly the market capitalisation dipped N16 billion or 0 14 per cent to close at N11 100 trillion compared with N11 116 trillion posted on Monday The downturn was impacted by losses recorded in medium and large capitalised stocks amongst which are Zenith Bank UACN Guaranty Trust Bank Lafarge Africa and Access Bank Analysts at Afrinvest Limited said We expect the bearish sentiment to continue however there exists bargain hunting opportunities in the equities market Also Mr Ambrose Omordion the Chief Operating Officer InvestData Ltd said that market outlook would remain unstable during the lockdown period and beyond due to high volatility in developed and developing markets Omordion noted that bouquet of stimulus packages had failed to uplift the market This is because there is no clear road map for implementing these fiscal and monetary measures to ensure that they are devoid of the usual bottlenecks he said Market breadth closed negative with nine gainers in contrast with 11 losers Jaiz Bank led the losers chart in percentage terms with a loss of 9 43 per cent to close at 48k per share Ikeja Hotel came second with 9 09 per cent to close at 90k while Courteville dipped 4 76 per cent to close at 20k per share Sterling Bank trailed with 4 17 to close at N1 15 while Transcorp shed 2 94 per cent to close at 66k per share On the other hand GlaxoSmithKline recorded the highest to lead the gainers pack in percentage terms gaining 10 per cent to close at N4 40 per share May and Baker followed with a 9 74 per cent gain to close at N2 14 while NEM Insurance rose by 9 52 per cent to close N2 07 per share Wema Bank rose by 6 38 per cent to close at 50k while Unilever increased by 4 76 per cent to close at N11 per share Transactions in the shares of Sterling Bank topped the activity chart with 303 46 million shares valued at N348 75 million Zenith Bank followed with 29 65 million shares worth N350 397 million while Guaranty Trust Bank traded 16 87 million shares valued at N301 16 million United Bank for Africa accounted for 14 49 million shares worth N72 58 million while FCMB Group transacted 9 65 million shares valued at N14 41 million In all investors staked N1 72 billion on 422 01 million shares exchanged in 3 448 deals This was against 466 91 million shares worth N1 93 billion achieved in 3 659 deals on Monday Edited By Edith Bolokor Peter Dada NAN
    NSE: Indices drop further by 0.14%
     The Nigerian Stock Exchange NSE market indicators on Tuesday recorded further depreciation dropping by 0 14 per cent Specifically the All Share Index which opened at 21 330 79 lost 30 32 points or 0 14 per cent to close at 21 300 47 Similarly the market capitalisation dipped N16 billion or 0 14 per cent to close at N11 100 trillion compared with N11 116 trillion posted on Monday The downturn was impacted by losses recorded in medium and large capitalised stocks amongst which are Zenith Bank UACN Guaranty Trust Bank Lafarge Africa and Access Bank Analysts at Afrinvest Limited said We expect the bearish sentiment to continue however there exists bargain hunting opportunities in the equities market Also Mr Ambrose Omordion the Chief Operating Officer InvestData Ltd said that market outlook would remain unstable during the lockdown period and beyond due to high volatility in developed and developing markets Omordion noted that bouquet of stimulus packages had failed to uplift the market This is because there is no clear road map for implementing these fiscal and monetary measures to ensure that they are devoid of the usual bottlenecks he said Market breadth closed negative with nine gainers in contrast with 11 losers Jaiz Bank led the losers chart in percentage terms with a loss of 9 43 per cent to close at 48k per share Ikeja Hotel came second with 9 09 per cent to close at 90k while Courteville dipped 4 76 per cent to close at 20k per share Sterling Bank trailed with 4 17 to close at N1 15 while Transcorp shed 2 94 per cent to close at 66k per share On the other hand GlaxoSmithKline recorded the highest to lead the gainers pack in percentage terms gaining 10 per cent to close at N4 40 per share May and Baker followed with a 9 74 per cent gain to close at N2 14 while NEM Insurance rose by 9 52 per cent to close N2 07 per share Wema Bank rose by 6 38 per cent to close at 50k while Unilever increased by 4 76 per cent to close at N11 per share Transactions in the shares of Sterling Bank topped the activity chart with 303 46 million shares valued at N348 75 million Zenith Bank followed with 29 65 million shares worth N350 397 million while Guaranty Trust Bank traded 16 87 million shares valued at N301 16 million United Bank for Africa accounted for 14 49 million shares worth N72 58 million while FCMB Group transacted 9 65 million shares valued at N14 41 million In all investors staked N1 72 billion on 422 01 million shares exchanged in 3 448 deals This was against 466 91 million shares worth N1 93 billion achieved in 3 659 deals on Monday Edited By Edith Bolokor Peter Dada NAN
    NSE: Indices drop further by 0.14%
    Economy3 years ago

    NSE: Indices drop further by 0.14%

    The Nigerian Stock Exchange (NSE) market indicators on Tuesday recorded further depreciation, dropping by 0.14 per cent.

     

    Specifically, the All-Share Index which opened at 21,330.79 lost 30.32 points or 0.14 per cent to close at 21,300.47.

     

    Similarly, the market capitalisation dipped N16 billion or 0.14 per cent to close at N11.100 trillion compared with N11.116 trillion posted on Monday.

     

    The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Zenith Bank, UACN, Guaranty Trust Bank, Lafarge Africa and Access Bank.

     

    Analysts at Afrinvest Limited said,  “We expect the bearish sentiment to continue, however, there exists bargain hunting opportunities in the equities market.”

     

    Also, Mr Ambrose Omordion, the Chief Operating Officer, InvestData Ltd., said that  market outlook would  remain unstable during the lockdown period and beyond due to high volatility in developed and developing markets.

     

    Omordion noted that bouquet of stimulus packages had failed to uplift the market.

     

    “This is because there is no clear road map for implementing these fiscal and monetary measures to ensure that they are devoid of the usual bottlenecks”, he said.

     

    Market breadth closed negative with nine gainers in contrast with 11 losers.

     

    Jaiz Bank led the losers’ chart in percentage terms, with a loss of 9.43 per cent, to close at 48k per share.

     

    Ikeja Hotel came second with 9.09 per cent to close at 90k, while Courteville dipped 4.76 per cent to close at 20k per share.

     

    Sterling Bank trailed with 4.17 to close at N1.15, while Transcorp shed 2.94 per cent to close at 66k per share.

     

    On the other hand, GlaxoSmithKline recorded the highest to lead the gainers’ pack in percentage terms, gaining 10 per cent, to close at N4.40 per share.

     

    May and Baker followed with a  9.74 per cent  gain to close at N2.14, while NEM Insurance rose by 9.52 per cent to close N2.07 per share.

     

    Wema Bank rose by 6.38 per cent to close at 50k, while Unilever increased by 4.76 per cent to close at N11 per share.

     

    Transactions in the shares of Sterling Bank topped the activity chart with 303.46 million shares valued at N348.75 million.

     

    Zenith Bank followed with 29.65 million shares worth N350.397 million, while Guaranty Trust Bank traded 16.87 million shares valued at N301.16 million.

     

    United Bank for Africa accounted for 14.49 million shares worth N72.58 million, while FCMB Group transacted 9.65 million shares valued at N14.41 million.

     

    In all, investors staked N1.72 billion on 422.01 million shares exchanged in 3,448 deals.

     

    This was against 466.91 million shares worth N1.93 billion achieved in 3,659 deals on Monday.

     


    Edited By: Edith Bolokor/Peter Dada
    (NAN)

     

  •  The National Emergency Management Agency NEMA on Tuesday distributed millions of Naira worth of relief materials to victims of armed banditry displaced from three local government areas of Niger NEM s Director General DG Alhaji Mustapha Maihaja supervised the delivery of the relief materials to the internal displaced persons IDPs He told the beneficiaries that it was a demonstration of Federal government s concern to their plight having been displaced from their communities as a result of bandits attacks Maihaja who was represented by Alhaji Abdulkareem Abubakar Head of Relief and Rehabilitation Unit NEMA Minna Operations Office said the items donated included rice beans maize and vegetable oil He said other items were sugar cement roofing sheets assorted nails mattresses salts mosquito nets and blankets Maihaja noted that the items were for displaced victims of armed bandits from Shiroro Munya and Rafi local government areas of the state Malam Zakari Galadima and Mr Silas Yakubu who spoke on behalf of the IDPs commended federal government continuous support They noted that the gesture would impact positively on the lives of the victims as well as give them a sense of belonging They appealed to the federal government to re enforce all measures put in place to secure their communities so as to enable them return to their various homes Nigeria News Agency reports that the items were distributed in collaboration with the State Emergency Management Agency SEMA and representatives of Saidu Doka member representing Shiroro Munya and Rafi Federal constituencies Others were representatives of all District Heads of the areas camp officials local government officials the police DSS and the vigilante Edited By Kevin Okunzuwa Ismail Abdulaziz NAN
    NEMA distributes relief materials to victims of armed banditry in Niger
     The National Emergency Management Agency NEMA on Tuesday distributed millions of Naira worth of relief materials to victims of armed banditry displaced from three local government areas of Niger NEM s Director General DG Alhaji Mustapha Maihaja supervised the delivery of the relief materials to the internal displaced persons IDPs He told the beneficiaries that it was a demonstration of Federal government s concern to their plight having been displaced from their communities as a result of bandits attacks Maihaja who was represented by Alhaji Abdulkareem Abubakar Head of Relief and Rehabilitation Unit NEMA Minna Operations Office said the items donated included rice beans maize and vegetable oil He said other items were sugar cement roofing sheets assorted nails mattresses salts mosquito nets and blankets Maihaja noted that the items were for displaced victims of armed bandits from Shiroro Munya and Rafi local government areas of the state Malam Zakari Galadima and Mr Silas Yakubu who spoke on behalf of the IDPs commended federal government continuous support They noted that the gesture would impact positively on the lives of the victims as well as give them a sense of belonging They appealed to the federal government to re enforce all measures put in place to secure their communities so as to enable them return to their various homes Nigeria News Agency reports that the items were distributed in collaboration with the State Emergency Management Agency SEMA and representatives of Saidu Doka member representing Shiroro Munya and Rafi Federal constituencies Others were representatives of all District Heads of the areas camp officials local government officials the police DSS and the vigilante Edited By Kevin Okunzuwa Ismail Abdulaziz NAN
    NEMA distributes relief materials to victims of armed banditry in Niger
    General news3 years ago

    NEMA distributes relief materials to victims of armed banditry in Niger

    The National Emergency Management Agency (NEMA) on Tuesday distributed millions of Naira worth of relief materials to victims of armed banditry displaced from three local government areas of Niger.

    NEM’s Director General (DG), Alhaji Mustapha Maihaja supervised the delivery of the relief materials to the internal displaced persons (IDPs).

    He told the beneficiaries that it was a demonstration of Federal government’s concern to their plight, having been displaced from their communities as a result of bandits’ attacks.

    Maihaja, who was represented by Alhaji Abdulkareem Abubakar, Head of Relief and Rehabilitation Unit, NEMA, Minna Operations Office, said the items donated included; rice, beans, maize and vegetable oil.

    He said other items were sugar, cement, roofing sheets, assorted nails, mattresses, salts, mosquito nets and blankets.

    Maihaja noted that the items were for displaced victims of armed bandits from Shiroro, Munya and Rafi local government areas of the state.

    Malam Zakari Galadima and Mr Silas Yakubu, who spoke on behalf of the IDPs, commended federal government continuous support.

    They noted that the gesture would impact positively on the lives of the victims as well as give them a sense of belonging.

    They appealed to the federal government to re-enforce all measures put in place to secure their communities so as to enable them return to their various homes.

    Nigeria News Agency reports that the items were distributed in collaboration with the State Emergency Management Agency (SEMA) and representatives of Saidu Doka, member, representing Shiroro, Munya and Rafi Federal constituencies.

    Others were representatives of all District Heads of the areas, camp officials, local government officials, the police, DSS and the vigilante.


    Edited By: Kevin Okunzuwa/Ismail Abdulaziz
    (NAN)

  •  Panic sell off continued on the Nigerian Stock Exchange NSE on Tuesday with the market capitalisation shedding N656 billion in what an expert attributed to fear of naira devaluation Specifically the market capitalisation which opened at N13 365 trillion lost N656 billion or 4 91 per cent to close at N12 709 trillion the highest daily loss in four years Also the All Share Index dipped 1 258 88 or 4 91 per cent dropping to 24 388 66 compared with 25 647 54 achieved on Monday Thus the Month to Date and Year to Date losses increased to 7 0 per cent and 9 1 per cent respectively Malam Garba Kurfi the Managing Director APT Securities and Funds Ltd attributed the development to panic selling by foreign investors due to fear of naira devaluation Kurfi stated that news of COVID 19 led to crash in global oil prices which triggered share dumping in global markets He added that 10 per cent loss by MTN Nigeria Communications which controlled 15 per cent of the total market capitalisation contributed to huge loss by market indices Kurfi however expressed optimism that the current recovery in the price of crude oil which rose by nine per cent would likely reflect in the prices of stocks in the days to come Mr Ambrose Omordion the Chief Operating Officer Inve stData Ltd said the nation s stock market losses were beyond coronavirus and oil price crash impact considering the pattern of decline since Cash Reserve Ratio was adjusted up in January The dwindling confidence and low liquidity in equity segment despite the impressive high dividend yields showed that something is wrong with the companies corporate governance and the economy Omordion said He stated that inconsistency in economic policies contributed to lull in the economy For discerning and intelligent investors this is purely transfer of wealth for those that will take stage by stage positioning ahead of dividend qualification dates Omordion added On likely naira devaluation Omordion said it would not be immediate because the apex bank recently issued future foreign exchange at FMDQ to ensure stable exchange rate for foreign direct and portfolio investors Analysts at Afrinvest Limited stated that As oil prices struggle to trend upward amid no respite for the COVID 19 outbreak we expect sentiment to remain bearish in the next trading session Market breadth closed negative with three gainers and 33 losers Dangote Sugar Refinery Fidelity Bank NASCON Allied Industries Stanbic IBTC Holdings and MTN Nigeria led the losers chart with 10 per cent loss each to close at N9 90 N1 62 N11 70 N28 35 and N103 50 per share respectively Union Bank of Nigeria Nigerian Breweries Guaranty Trust Bank International Breweries and CAP followed with a decline of 9 93 per cent each to close at N6 35 N33 10 N19 95 N6 35 and N19 95 per share respectively Lafarge Africa declined by 9 89 to close at N12 30 while Oando shed 9 88 per cent to close at N2 19 per share Conversely Neimeth International Pharmaceuticals led the gainers table in percentage terms gaining 10 per cent to close at 44k per share Honeywell Flour Mill followed with 3 45 per cent to close at 90k while NEM Insurance increased by 1 16 per cent to close N1 75 per share However the total volume of shares sold increased by 220 3 per cent as investors bought and sold 594 55 million shares valued N4 21 billion exchanged in 4 010 deals This was against 185 65 million shares worth N1 83 billion achieved in 2 690 deals on Monday Transactions in the shares of United Bank for Africa topped the activity chart with 166 42 million shares valued N942 73 million FBN Holdings followed with 163 96 million shares worth N724 83 million while Guaranty Trust Bank traded 54 52 million shares valued N1 09 billion Fidelity Bank accounted for 31 93 million shares valued N51 73 million while Zenith Bank transacted 30 09 million shares worth N392 62 million Edited By Chioma Ugboma Oluwole Sogunle NAN
    NSE market capitalisation drops further by N656bn
     Panic sell off continued on the Nigerian Stock Exchange NSE on Tuesday with the market capitalisation shedding N656 billion in what an expert attributed to fear of naira devaluation Specifically the market capitalisation which opened at N13 365 trillion lost N656 billion or 4 91 per cent to close at N12 709 trillion the highest daily loss in four years Also the All Share Index dipped 1 258 88 or 4 91 per cent dropping to 24 388 66 compared with 25 647 54 achieved on Monday Thus the Month to Date and Year to Date losses increased to 7 0 per cent and 9 1 per cent respectively Malam Garba Kurfi the Managing Director APT Securities and Funds Ltd attributed the development to panic selling by foreign investors due to fear of naira devaluation Kurfi stated that news of COVID 19 led to crash in global oil prices which triggered share dumping in global markets He added that 10 per cent loss by MTN Nigeria Communications which controlled 15 per cent of the total market capitalisation contributed to huge loss by market indices Kurfi however expressed optimism that the current recovery in the price of crude oil which rose by nine per cent would likely reflect in the prices of stocks in the days to come Mr Ambrose Omordion the Chief Operating Officer Inve stData Ltd said the nation s stock market losses were beyond coronavirus and oil price crash impact considering the pattern of decline since Cash Reserve Ratio was adjusted up in January The dwindling confidence and low liquidity in equity segment despite the impressive high dividend yields showed that something is wrong with the companies corporate governance and the economy Omordion said He stated that inconsistency in economic policies contributed to lull in the economy For discerning and intelligent investors this is purely transfer of wealth for those that will take stage by stage positioning ahead of dividend qualification dates Omordion added On likely naira devaluation Omordion said it would not be immediate because the apex bank recently issued future foreign exchange at FMDQ to ensure stable exchange rate for foreign direct and portfolio investors Analysts at Afrinvest Limited stated that As oil prices struggle to trend upward amid no respite for the COVID 19 outbreak we expect sentiment to remain bearish in the next trading session Market breadth closed negative with three gainers and 33 losers Dangote Sugar Refinery Fidelity Bank NASCON Allied Industries Stanbic IBTC Holdings and MTN Nigeria led the losers chart with 10 per cent loss each to close at N9 90 N1 62 N11 70 N28 35 and N103 50 per share respectively Union Bank of Nigeria Nigerian Breweries Guaranty Trust Bank International Breweries and CAP followed with a decline of 9 93 per cent each to close at N6 35 N33 10 N19 95 N6 35 and N19 95 per share respectively Lafarge Africa declined by 9 89 to close at N12 30 while Oando shed 9 88 per cent to close at N2 19 per share Conversely Neimeth International Pharmaceuticals led the gainers table in percentage terms gaining 10 per cent to close at 44k per share Honeywell Flour Mill followed with 3 45 per cent to close at 90k while NEM Insurance increased by 1 16 per cent to close N1 75 per share However the total volume of shares sold increased by 220 3 per cent as investors bought and sold 594 55 million shares valued N4 21 billion exchanged in 4 010 deals This was against 185 65 million shares worth N1 83 billion achieved in 2 690 deals on Monday Transactions in the shares of United Bank for Africa topped the activity chart with 166 42 million shares valued N942 73 million FBN Holdings followed with 163 96 million shares worth N724 83 million while Guaranty Trust Bank traded 54 52 million shares valued N1 09 billion Fidelity Bank accounted for 31 93 million shares valued N51 73 million while Zenith Bank transacted 30 09 million shares worth N392 62 million Edited By Chioma Ugboma Oluwole Sogunle NAN
    NSE market capitalisation drops further by N656bn
    Economy3 years ago

    NSE market capitalisation drops further by N656bn

    Panic sell off continued on the Nigerian Stock Exchange (NSE) on Tuesday with the market capitalisation shedding N656 billion in what an expert attributed to fear of naira devaluation.

    Specifically, the market capitalisation which opened at N13.365 trillion lost N656 billion or 4.91 per cent to close at N12.709 trillion, the highest daily loss in four years.

    Also, the All-Share Index dipped 1,258.88 or 4.91 per cent dropping to 24,388.66 compared with 25,647.54 achieved on Monday.

    Thus, the Month-to-Date and Year-to-Date losses increased to -7.0 per cent and -9.1 per cent, respectively.

    Malam Garba Kurfi, the Managing Director, APT Securities and Funds Ltd., attributed the development to panic selling by foreign investors due to fear of naira devaluation.

    Kurfi stated that news of COVID-19 led to crash in global oil prices, which triggered share dumping in global markets.

    He added that 10 per cent loss by MTN Nigeria Communications which controlled 15 per cent of the total market capitalisation,  contributed to huge loss by market indices.

    Kurfi, however, expressed optimism that the current recovery in the price of crude oil which rose by nine per cent would likely reflect in the prices of stocks in the days to come.

    Mr Ambrose Omordion, the Chief Operating Officer, Inve stData Ltd., said the nation’s stock market losses were beyond coronavirus and oil price crash impact considering the pattern of decline since Cash Reserve Ratio was adjusted up in January.

    “The dwindling confidence and low liquidity in equity segment, despite the impressive high dividend yields, showed that something is wrong with the companies, corporate governance and the economy,” Omordion said.

    He stated that inconsistency in economic policies contributed to  lull in the economy.

    “For discerning and intelligent investors, this is purely transfer of wealth for those that will take stage by stage positioning ahead of dividend qualification dates,” Omordion added.

    On likely naira devaluation, Omordion said it would not be immediate because the apex bank recently issued future foreign exchange at FMDQ to ensure stable exchange rate for foreign direct and portfolio investors.

    Analysts at Afrinvest Limited stated that “As oil prices struggle to trend upward amid no respite for the COVID-19 outbreak, we expect sentiment to remain bearish in the next trading session.”

    Market breadth closed negative, with three gainers and 33 losers.

    Dangote Sugar Refinery, Fidelity Bank, NASCON Allied Industries, Stanbic IBTC Holdings and MTN Nigeria led the losers’ chart with 10 per cent loss each, to close at N9.90, N1.62, N11.70, N28.35 and N103.50, per share, respectively.

    Union Bank of Nigeria, Nigerian Breweries, Guaranty Trust Bank, International Breweries and CAP followed with a decline of 9.93 per cent each, to close at N6.35, N33.10, N19.95, N6.35 and N19.95 per share, respectively.

    Lafarge Africa declined by 9.89 to close at N12.30, while Oando shed 9.88 per cent to close at N2.19 per share.

    Conversely, Neimeth International Pharmaceuticals led the gainers’ table in percentage terms, gaining 10 per cent, to close at 44k per share.

    Honeywell Flour Mill followed with 3.45 per cent to close at 90k, while NEM Insurance increased by 1.16 per cent to close N1.75 per share.

    However, the total volume of shares sold increased by 220.3 per cent as investors bought and sold 594.55 million shares valued N4.21 billion exchanged in 4,010 deals.

    This was against 185.65 million shares worth N1.83 billion achieved in 2,690 deals on Monday.

    Transactions in the shares of United Bank for Africa topped the activity chart with 166.42 million shares valued N942.73 million.

    FBN Holdings followed with 163.96 million shares worth N724.83 million, while Guaranty Trust Bank traded 54.52 million shares valued N1.09 billion.

    Fidelity Bank accounted for 31.93 million shares valued  N51.73 million, while Zenith Bank transacted 30.09 million shares worth N392.62 million.


    Edited By: Chioma Ugboma/Oluwole Sogunle
    (NAN)

  •  The Nigerian Stock Exchange NSE on Thursday maintained positive trend for the third consecutive day with the market capitalisation improving by N6 billion The Nigeria News Agency reports that the market capitalisation which opened at N13 764 trillion rose by N6 billion to close at N13 770 trillion Also the All Share Index ASI rose by 10 66 points or 0 04 per cent to 26 426 20 against 26 415 54 achieved on Wednesday The upturn was impacted by gains recorded in medium and large capitalised stocks amongst which are Stanbic IBTC Ecobank Transnational Corporation ETI Zenith Bank Guaranty Trust Bank and United Bank for Africa Analysts at Afrinvest Limited expected market performance to remain bullish at the end of the week as investors take advantage of undervalued stocks Market breadth closed positive with 24 stocks compared with 11 losers Chams led the gainers table in percentage terms growing 10 per cent to close at 22k per share Stanbic IBTC Holdings followed with 9 85 per cent to close at N35 70 while Skyway Avaition Handling Company rose by 9 83 per cent to close at N2 57 per share Cutix improved 9 60 per cent to close at N1 37 while UACN Property Development appreciated by 9 41 per cent to close at 93k per share Conversely GlaxoSmithKline recorded the highest loss in percentage terms dropping by 9 52 per cent to close at N3 80 per share Jaiz Bank followed with a decline of 8 20 per cent to close at 56k while NEM Insurance decreased by 7 49 per cent to close at N1 73 per share Eterna dipped 7 34 per cent to close at N2 02 while Nestle Nigeria lost 5 83 per cent to close at N1 017 per share Transactions in the shares of Guaranty Trust Bank topped the activity chart having accounted for 75 79 million shares valued at N1 89 billion Zenith Bank followed with 62 75 million shares worth N1 25 billion while Red Star Express traded 61 83 million shares valued at N184 24 million UBA sold 42 897 million shares worth N302 94 million while United Capital transacted 33 18 mil0lion shares valued at N104 63 million In all the volume of shares traded rose by 40 4 per cent with a total of 431 92 million shares worth N7 82 billion in 4 518 deals This was in contrast with 307 72 million shares valued at N2 81 billion exchanged in 4 419 deals on Wednesday Edited By Oluwole Sogunle NAN
    NSE market capitalisation sustains growth with N6bn
     The Nigerian Stock Exchange NSE on Thursday maintained positive trend for the third consecutive day with the market capitalisation improving by N6 billion The Nigeria News Agency reports that the market capitalisation which opened at N13 764 trillion rose by N6 billion to close at N13 770 trillion Also the All Share Index ASI rose by 10 66 points or 0 04 per cent to 26 426 20 against 26 415 54 achieved on Wednesday The upturn was impacted by gains recorded in medium and large capitalised stocks amongst which are Stanbic IBTC Ecobank Transnational Corporation ETI Zenith Bank Guaranty Trust Bank and United Bank for Africa Analysts at Afrinvest Limited expected market performance to remain bullish at the end of the week as investors take advantage of undervalued stocks Market breadth closed positive with 24 stocks compared with 11 losers Chams led the gainers table in percentage terms growing 10 per cent to close at 22k per share Stanbic IBTC Holdings followed with 9 85 per cent to close at N35 70 while Skyway Avaition Handling Company rose by 9 83 per cent to close at N2 57 per share Cutix improved 9 60 per cent to close at N1 37 while UACN Property Development appreciated by 9 41 per cent to close at 93k per share Conversely GlaxoSmithKline recorded the highest loss in percentage terms dropping by 9 52 per cent to close at N3 80 per share Jaiz Bank followed with a decline of 8 20 per cent to close at 56k while NEM Insurance decreased by 7 49 per cent to close at N1 73 per share Eterna dipped 7 34 per cent to close at N2 02 while Nestle Nigeria lost 5 83 per cent to close at N1 017 per share Transactions in the shares of Guaranty Trust Bank topped the activity chart having accounted for 75 79 million shares valued at N1 89 billion Zenith Bank followed with 62 75 million shares worth N1 25 billion while Red Star Express traded 61 83 million shares valued at N184 24 million UBA sold 42 897 million shares worth N302 94 million while United Capital transacted 33 18 mil0lion shares valued at N104 63 million In all the volume of shares traded rose by 40 4 per cent with a total of 431 92 million shares worth N7 82 billion in 4 518 deals This was in contrast with 307 72 million shares valued at N2 81 billion exchanged in 4 419 deals on Wednesday Edited By Oluwole Sogunle NAN
    NSE market capitalisation sustains growth with N6bn
    Economy3 years ago

    NSE market capitalisation sustains growth with N6bn

    The Nigerian Stock Exchange (NSE) on Thursday maintained positive trend for the third consecutive day with the market capitalisation improving by N6 billion.

    The Nigeria News Agency reports that the market capitalisation, which opened at N13.764 trillion, rose by N6 billion to close at N13.770 trillion.

    Also, the All-Share Index (ASI) rose by 10.66 points or 0.04 per cent to 26,426.20 against 26,415.54 achieved on Wednesday.

    The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Stanbic IBTC, Ecobank Transnational Corporation (ETI), Zenith Bank, Guaranty Trust Bank and United Bank for Africa.

    Analysts at Afrinvest Limited expected market performance to remain bullish at the end of the week as investors take advantage of undervalued stocks.

    Market breadth closed positive with 24 stocks, compared with 11 losers.

    Chams led the gainers’ table in percentage terms, growing 10 per cent, to close at 22k per share.

    Stanbic IBTC Holdings followed with 9.85 per cent to close at N35.70, while Skyway Avaition Handling Company rose by 9.83 per cent to close at N2.57 per share.

    Cutix improved 9.60 per cent to close at N1.37, while UACN Property Development appreciated by 9.41 per cent to close at 93k per share.

    Conversely, GlaxoSmithKline recorded the highest loss in percentage terms, dropping by 9.52 per cent to close at N3.80 per share.

    Jaiz Bank followed with a decline of 8.20 per cent to close at 56k, while NEM Insurance decreased by 7.49 per cent to close at N1.73 per share.

    Eterna dipped 7.34 per cent to close at N2.02, while Nestle Nigeria lost 5.83 per cent to close at N1,017 per share.

    Transactions in the shares of Guaranty Trust Bank topped the activity chart, having accounted for 75.79 million shares valued at N1.89 billion.

    Zenith Bank followed with 62.75 million shares worth N1.25 billion, while Red Star Express traded 61.83 million shares valued at N184.24 million.

    UBA sold 42.897 million shares worth N302.94 million, while United Capital transacted 33.18 mil0lion shares valued at N104.63 million.

    In all, the volume of shares traded rose by 40.4 per cent with a total of 431.92 million shares worth N7.82 billion in 4,518 deals.

    This was in contrast with 307.72 million shares valued at N2.81 billion exchanged in 4,419 deals on Wednesday.


    Edited By: Oluwole Sogunle (NAN)

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