NSE: Index closes southward with 0.82% loss, amid Yuletide mood

By Giwa SHILE The Nigerian Stock Exchange (NSE) All-Share Index resumed trading for the week on Monday southward, shedding 0.82 per cent. The  index closed lower at 30,614.73 compared with 30,866.82 achieved on Friday, following huge loses posted by some blue chip. In the same vein, the market capitalisation, which opened at N11.268 trillion, dipped N92 billion or 0.82 per cent to close at N11.176 trillion as investors prepare for Yuletide celebrations. Nestle topped the losers’ chart, dropping by N64 to close at N1,485 per share. Mobil Oil followed with…

Read More

Stock market indices record marginal growth

By Elizabeth ADENUGA The crucial indices of the Nigerian Stock Exchange (NSE) recorded a marginal growth of 0.15 per cent, after succumbing to the bears. The All-Share Index rose by 47.72 points or 0.15 per cent to close at 30,866.82 compared with 30,819.10 achieved on Thursday. Also, the market capitalisation which opened at N11.251 trillion inched N15 billion or 0.15 per cent to close at N11.268 trillion. Nestle led the gainers’ table increasing by N69 to close at N1,549 per share. Dangote Sugar followed with a gain of 40k to…

Read More

Naira sells at N363 to dollar at parallel market

By Meletus EZE The Naira on Thursday exchanged at N363 to the dollar at the parallel market in Lagos, the TBI Africa reports. The Pound Sterling and the Euro closed at N470 and N415, respectively. At the Bureau De Change (BDC) window, the naira was sold at N360 to the dollar, while the Pound Sterling and the Euro closed at N470 and N415, respectively. Trading at the investors’ window saw the naira closing at N 365.16 as investors transacted 223.63 million dollars for the day. The CBN’ special forex intervention…

Read More

Profit taking halts gaining streak on NSE

By Thompson ABISOLA The Nigerian equities market on Thursday halted two-day gaining streak on the back of profit taking. Specifically, the market capitalisation shed N123 billion or 1.07 per cent to close at N11.251 trillion against N11. 374 trillion recorded on Wednesday. In the same vein, the All-Share Index which opened at 31,151.68 lost 332.58 points or 1.07 per cent to close at 30,819.10 following loses by Nestle and Dangote Cement. Nestle recorded the highest loss to lead the losers’ chart, shedding N5 to close at N1,480 per share. Dangote…

Read More

Bargain hunting: NSE index appreciates further by 0.79%

By Elizabeth ADENUGA Bargain hunting persisted on the Nigerian Stock Exchange (NSE) on Wednesday with the All-Share Index appreciating further by 0.79 per cent. The index grew by 244.43 points or 0.79 per cent to close at 31,251.68 compared with 31,007.25 achieved on Tuesday. Also, the market capitalisation inched N52 billion to close at N11.372 trillion against N11.320 trillion recorded on Tuesday. The upturn was impacted by gains recorded in medium and large capitalised stocks with Dangote Cement leading the gainers’ pack with N5 to close at N190 per share.…

Read More

NSE: Investors net worth drops by N581bn in November

By Thompson ABISOLA Investors net worth on the Nigerian Stock Exchange (NSE) dropped by N581 billion in November, amid sell pressure ahead of the 2019 general elections and Yuletide celebrations. Data obtained from the exchange showed that the market capitalisation shed N581 billion or 4.90 per cent to close at N11.271 trillion against N11.852 trillion achieved in October. Also, the All-Share Index which opened at 32,466.27 shed 1,592.1 points to close at 30,874.17 due to huge losses posted during the period. A breakdown of the price activity chart during the…

Read More

Naira gains marginally against dollar at parallel market

By Olaleke ASHAFA The Naira on Tuesday strengthened against the dollar at the parallel market, reversing one week of depreciation, the News Agency of Nigeria (NAN), reports. It traded at N367 to the dollar compared to N369 traded on Monday, while the Pound Sterling and the Euro closed at N485 and N414, respectively. At the Bureau De Change(BDC) segment, the Naira was sold at N360 to the dollar, while the Pound Sterling and the Euro closed at N485 and N414, respectively. Investors at the Import and Export (I &E) window…

Read More

Nigerian bourse rebounds by 0.68% after persistent losses

By Thompson ABISOLA Activities on the Nigerian Stock Exchange (NSE) rebounded on Tuesday with its indices growing by 0.68 per cent, to halt over seven days of persistent losses. The  market capitalisation increased by N77 billion or 0.68 per cent to close at N11.320 trillion, compared to N11. 243 trillion achieved on Monday. Similarly, the All-Share Index which opened at 30,798.76 on Monday rose by 208.49 points or 0.68% to close at 31,007.25 due to some price gains. A breakdown of the price movement table shows that Guaranty Trust Bank…

Read More

Seplat wins 2018 pearl of the Nigerian Stock Market

By Thompson ABISOLA The management of Seplat Petroleum Development Company emerged the 2018 overall winner of PEARL Awards capital market prize at Nigeria’s leading capital market awards ceremony “The Pearl Awards”. This event well attended by stakeholders in the Nigerian financial and capital market held onNovember 25th at the Eko Hotel & Suites in Lagos. SEPLAT was recognized for its contributions and performance in the Nigerian Capital Market. It was an award galore with the company carting away four awards in the three main competitive award categories. Seplat won one award in the Sectoral…

Read More

Stockbrokers decry low domestic patronage on NSE

By Aliyu DANLADI The Chartered Institute of Stockbrokers (CIS) on Friday decried the low level of domestic investors’ patronage in the capital market and urged government at all levels to prioritise capital market development. The CIS President, Mr Adekoje Adedapo, made the appeal at the 2018 SEC Journalist Academy in Uyo with the theme: “The capital market Masterplan: The Journey so far.” Adedapo said that domestic investors’ participation in the capital market was very low as less than five per cent of the country’s population were involved as investors. He said…

Read More