Economy
Local Stock Market Further Trends Downward by 0.11%
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited further depreciated by 0.11 per cent on Tuesday on the back of sustained profit-taking by investors.
It was observed that the loss was across the major sectors of the local stock market, with the banking space recording the highest fall of 0.99 per cent.
The energy counter fell by 0.50 per cent, the insurance sector retreated by 0.33 per cent, the consumer goods counter went down by 0.30 per cent, while the industrial goods index closed flat.
At the close of business, the All-Share Index (ASI) declined by 50.77 points to 46,843.09 points from 46,893.86 points, while the market capitalisation increased by N27 billion to N25.246 trillion from N25.273 trillion.
During the session, investors transacted a total of 214.3 million stocks worth N1.8 billion in 4,125 deals compared with the 359.9 million stocks worth N2.6 billion in 5,163 deals, indicating a decline in the trading volume, value and number of deals by 40.45 per cent, 31.43 per cent and 20.10 per cent respectively.
Chams was the busiest stock as it sold 30.4 million units worth N6.1 million, Access Holdings transacted 30.3 million units valued at N305.5 million, Transcorp exchanged 20.5 million units valued at N20.4 million, FBN Holdings traded 18.5 million stocks for N216.4 million, while eTranzact sold 13.1 million equities for N34.7 million.
From the analysis of the trading data, the market breadth closed negative on Tuesday with 18 depreciating stocks and 16 appreciating stocks, implying a weak investor sentiment.
International Breweries was the worst-performing stock as it shed 10.00 per cent to close at N4.50, Veritas Kapital lost 8.70 per cent to finish at 21 kobo, FTN Cocoa fell by 5.71 per cent to 33 kobo, Fidelity Bank depreciated by 4.88 per cent to N3.12, while Chams declined by 4.76 per cent to 20 kobo.
Conversely, PZ Cussons ended the session as the best-performing stock after it grew by 9.80 per cent to N11.20, followed by Japaul, which appreciated by 9.68 per cent to 34 kobo.
FCMB rose by 9.32 per cent to N3.40, Consolidated Hallmark Insurance improved by 4.92 per cent to 64 kobo, while NPF Microfinance Bank gained 3.81 per cent to sell for N2.45.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn