By Dipo Olowookere

Profit-takers took control of Customs Street on Friday, plunging it by 0.08 per cent at the close of trading activities.

The sell-offs were across all the key sectors of the Nigerian Exchange (NGX) Limited on last trading session of the week.

The insurance space went down by 1.53 per cent, the banking index depreciated by 0.41 per cent, the consumer goods sector weakened by 0.16 per cent, and the energy counter slumped by 0.08 per cent, while the industrial goods sector closed flat.

At the close of business, the All-Share Index (ASI) tumbled by 79.68 points to 105,451.06 points from 105,530.74 points and the market capitalisation retreated by N48 billion to N64.303 trillion from N64.351 trillion.

Yesterday, investors traded 1.5 billion shares worth N19.4 billion in 12,877 deals compared with the 489.5 million shares worth N13.1 billion transacted in 13,010 deals in the preceding day, indicating a decline in the number of deals by 1.02 deals and a rise in the trading volume and value by 203.14 per cent and 48.09 per cent, respectively.

Wema Bank was the busiest stock with 976.2 million units valued at N9.8 billion, Tantalizers traded 53.0 million units worth 129.6 million, Universal Insurance sold 34.8 million units for N26.8 million, Access Holdings exchanged 33.9 million units valued at N843.8 million, and Nigerian Breweries traded 27.3 million units worth N873.3 million.

The heaviest loss was suffered by Sunu Assurances with a decline of 9.99 per cent to trade at N7.30, Eunisell shed 9.96 per cent to N17.35, SAHCO crumbled by 9.87 per cent to N30.15, DAAR Communications plunged by 9.28 per cent to 88 Kobo, and Sovereign Trust Insurance went down by 7.04 per cent to N1.32.

On the flip side, C&I Leasing gained 10.00 per cent to close at N4.51, Honeywell Flour appreciated by 9.99 per cent to N10.02, Trans Nationwide Express jumped by 9.89 per cent to N2.00, RT Briscoe rose by 9.83 per cent to N2.57, and Secure Electronic Technology grew by 9.46 per cent to 81 Kobo.

Business Post reports that the bourse ended with 33 price gainers and 25 price losers, indicating a positive market breadth index and strong investor sentiment.

By Adedapo Adesanya

Brent neared the $80 price mark on Friday, gaining $2.84 or 3.7 per cent to sell fr $79.76 per barrel as traders braced for supply disruptions from the broadest US sanctions package targeting Russian energy revenue.

President Joe Biden’s administration imposed fresh sanctions on Russian oil producers, tankers, intermediaries, traders, and ports, aiming to affect every stage of Russia’s oil production and distribution chains.

The move is meant to cut Russia’s revenues for continuing the war as the sanctions also include networks that trade petroleum.

According to the US Government, close to 180 vessels, several senior Russian oil executives, dozens of traders and two major oil companies were targeted by the sanctions.

Many of the sanctioned tankers have been used to ship oil to India and China as a price cap imposed by the Group of Seven countries in 2022 has shifted trade in Russian oil from Europe to Asia. Some tankers have shipped both Russian and Iranian oil.

This followed US sanctions in November on banks including Gazprombank, Russia’s largest conduit to the global energy business, and earlier last year on dozens of tankers carrying Russian oil.

Market analysts note that India and China, which have always patronised Russia, will have to find alternatives.

This move just a few days before President-elect Donald Trump’s inauguration, making it likely that he will keep the sanctions in place and use them as a negotiating tool for a Ukraine peace treaty.

Oil prices were also buoyed as extreme cold in the US and Europe has lifted demand for heating oil while fire rages on in California affecting supply.

JPMorgan analysts said in a note on Friday that the weather in the US could record a significant year-over-year increase in global oil demand of 1.6 million barrels a day in the first quarter of 2025, primarily boosted by demand for heating oil, kerosene, and Liquified Petroleum Gas (LPG), by-products of crude oil.

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange dropped 0.37 per cent on Thursday, January 9 as investors booked profit in Geo-Fluids and FrieslandCampina Wamco Nigeria Plc.

The sell-offs in the two securities brought down the value of the bourse by N4.13 billion at the close of business to N1.052 trillion from N1.056 trillion.

In the same vein, the NASD Unlisted Security Index (NSI) made a loss of 12.05 points to wrap the session at 3,069.86 points compared with 3,081.91 points recorded at the previous session.

There were two price losers and three price gainers at the Thursday session, indicating a weak investor sentiment.

Geo-Fluids depleted by 25 Kobo to close at N4.60 per unit compared with midweek’s price of N4.85 per unit and FrieslandCampina Wamco Nigeria Plc went down by N1.78 to trade at N38.22 per share versus Wednesday’s value of N40.00 per share.

Conversely, Industrial and General Insurance (IGI) Plc appreciated by 2 Kobo to end at 24 Kobo per unit compared with the preceding day’s 22 Kobo per unit, UBN Property Plc gained 2 Kobo to close at N2.00 per share versus N1.98 per share, and Afriland Properties Plc expanded by 1 Kobo to N16.01 per unit from N16.01 per unit.

The volume of trades recorded yesterday increased by 82.9 per cent to 6.6 million units from 3.6 million units, but the value of transactions declined by 24.8 per cent to N27.5 million from N36.6 million, and the number of deals went up by 157 per cent to 36 deals from the 14 deals.

FrieslandCampina Wamco Nigeria Plc remained the most active stock by value (year-to-date) with 1.9 million units worth N74.2 million, 11 Plc came next with 12,963 units valued at N3.2 million, and Industrial and General Insurance  (IGI )Plc was in third with 10.7 million units sold for N2.1 million.

IGI Plc closed the day as the most active stock by volume (year-to-date) with 10.6 million units sold for N2.1 million, FrieslandCampina Wamco Nigeria Plc came next with 1.9 million units valued at N74.2 million, and Acorn Petroleum Plc occupied the third spot with 1.2 million units worth N1.9 million.