Economy
Stocks up 0.56% as Market Regains Investors’ Confidence
By Dipo Olowookere
There was a renewed vigour on the floor of the Nigerian Exchange (NGX) Limited on Wednesday on the back of fresh bargain hunting on some fundamentally sound stocks.
This further pushed the market higher by 0.56 per cent at the midweek session, with investor sentiment closing positive as 18 equities appreciated in value while 16 shares depreciated in price, indicating that the market is beginning to regain investors’ confidence.
The major driver of the bullish momentum was the consumer goods counter, which rose during the session by 0.39 per cent mainly due to gains printed by BUA Foods, Flour Mills and a few others.
However, the other four main sectors of the exchange depreciated at the close of transactions, with the banking index letting go of 0.61 per cent. The insurance space fell by 0.39 per cent, the industrial goods space dropped 0.28 per cent, while the energy counter declined by 0.19 per cent.
But when the market closed for the day, the All-Share Index (ASI) rose by 285.46 points to 51,377.21 points from 51,091.75 points, while the market capitalisation grew by N154 billion to N27.698 trillion from N27.544 trillion.
Ellah Lakes reported the biggest price growth with 10.00 per cent to sell at N4.40, Presco appreciated by 9.71 per cent to N183.00, FBN Holdings gained 9.52 per cent to quote at N9.20, Livestock Feeds chalked up 9.09 per cent to finish at N1.44, while Courteville closed 8.70 per cent higher to 50 kobo.
On the contrary, Northern Nigerian Flour Mills ended the midweek session as the heaviest price decliner as it shed 9.91 per cent to trade at N9.55, John Holt lost 9.86 per cent to end at 64 kobo, CWG depreciated by 9.09 per cent to 80 kobo, Consolidated Hallmark Insurance fell by 8.82 per cent to 62 kobo, while GlaxoSmithKline declined by 6.25 per cent to N6.00.
Oando was the most active stock at the bourse yesterday, selling 34.5 million units for N185.0 million and was trailed by FCMB, which traded 26.2 million units valued at N91.7 million. UBA transacted 26.0 million equities worth N194.1 million, Access Holdings exchanged 22.8 million shares for N216.3 million, while GTCO sold 15.8 million stocks for N332.4 million.
In all, investors bought and sold 229.4 million equities worth N3.2 billion in 4,536 deals compared with the 167.0 million equities worth N2.7 billion transacted in 4,398 deals on Tuesday, implying an increase in the trading volume, value and number of trades by 37.37 per cent, 16.68 per cent and 3.14 per cent respectively.
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.
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