Economy
NGX Index Witnesses Lucky Escape from Bears After Marginal Rise
By Dipo Olowookere
The bulls struggled to maintain their grip on the Nigerian Exchange (NGX) Limited, with a marginal increase of 0.01 per cent on Wednesday.
Sustained bargain-hunting during the midweek session, especially in the insurance and consumer goods sectors, kept hopes alive as investor sentiment was weak.
Traders are already weighing and evaluating their risk appetite for Nigerian stocks due to warning signals from institutions and analysts like JP Morgan.
Another factor that affected the equity market during the trading day was the diversion of funds to the fixed-income market for treasury bills sold by the Central Bank of Nigeria (CBN) at the primary market.
It was no surprise that the local bourse escaped the bears by the whiskers yesterday, as the market breadth index was negative, with 26 price losers and 22 price gains.
ABC Transcorp was on the driver’s seat of the price advancers’ bus on Wednesday after it gained 9.62 per cent to close at 57 Kobo, Thomas Wyatt appreciated by 9.30 per cent to N1.41, Transcorp Hotels rose by 8.99 per cent to N40.00, Courteville improved by 8.33 per cent to 65 Kobo, and Omatek went up by 7.14 per cent to 30 Kobo.
Leading the decliners’ group yesterday was Conoil, which shed 10.00 per cent to trade at N99.00. Daar Communications lost 9.38 per cent to finish at 29 Kobo, Red Star Express fell by 8.75 per cent to N2.92, Tantalizers took an 8.33 per cent haircut to sell at 33 Kobo, and Eterna dropped 8.24 per cent to quote at N15.60.
Business Post reports that the industrial goods space was flat during the session, the energy sector lost 1.66 per cent, the banking index depreciated by 0.68 per cent, while the insurance counter rose by 0.39 per cent, and the consumer goods sector appreciated by 0.40 per cent.
At the close of business, the All-Share Index (ASI) increased by 4.14 points to 65,492.81 points from 65,488.67 points, and the market capitalisation expanded by N3 billion to N35.845 trillion from N35.842 trillion.
The market activity chart for Wednesday was mixed as the value of transactions was flat at N4.1 billion, while the volume of transactions increased by 18.67 per cent to 348.3 million shares from 293.5 million shares, and the number of trades rose by 5.80 per cent to 6,237 deals from the 5,895 deals reported on Tuesday.
For another trading session, Transcorp remained the busiest stock after it exchanged 144.7 million units valued at N682.6 million, Universal Insurance traded 27.5 million units worth N5.6 million, Dangote Sugar transacted 16.1 million units worth N632.6 million, Fidelity Bank traded 15.8 million units valued at N111.2 million, and Consolidated Hallmark Insurance also sold 15.8 million units for N13.0 million.
By Aduragbemi Omiyale
Shares of First Holdco Plc worth N45.0 billion issued through a private placement have been listed on the Nigerian Exchange (NGX) Limited.
A circular issued by the Head of Issuer Regulation Department of the NGX Regulation Limited, Mr Godstime Iwenekhai, disclosed that the equities were admitted for trading at the stock market on Monday.
According to the notice, the additional shares brought for listing to rank pari passu with existing shares of the organisation were 1,021,334,544 units.
These stocks were sold to one of the company’s major shareholders at a unit price of N44.06, amounting to N45.0 billion.
The total issued and fully paid-up shares of First Holdco, as a result of this listing, are now 45,475,027,677 ordinary shares of 50 Kobo each.
“Trading licence holders are hereby notified that an additional 1,021,334,544 ordinary shares of 50 Kobo each of First Holdco Plc were on Monday, June 22, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares listed on NGX arose from the company’s private placement of 1,021,334,544 ordinary shares of 50 Kobo each at N44.06 per share.
“With the listing of the additional shares, the total issued and fully paid-up shares of First Holdco Plc have now increased to 45,475,027,677 ordinary shares of 50 Kobo each from 44,453,693,133 ordinary shares of 50 Kobo each,” the disclosure stated.
By Adedapo Adesanya
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has approved fresh import licences for petrol and diesel for the third quarter of 2026 (July – September) to prevent potential supply shortages in the domestic market.
According to a report by global energy intelligence firm, Argus Media, the latest approvals were issued to major downstream operators amid declining fuel stock levels and concerns over reduced petrol production at the 700,000 barrels per day Dangote Petroleum Refinery in Lagos.
The move comes as Nigeria continues to balance increasing local refining capacity with the need to guarantee adequate supplies of petroleum products across the country.
According to the Argus report, domestic firms, including AA Rano, AYM Shafa, Bono Energy, Nipco, Matrix Energy and Pinnacle Oil, received permits to import Premium Motor Spirit, popularly known as petrol, during the July-September period.
The publication further reported that the same companies, with the exception of Nipco, were granted approvals to import Automotive Gas Oil, commonly known as diesel. The fresh approvals follow an earlier batch of petrol import permits issued by the regulator in May, covering about 720,000 metric tonnes.
Quoting a regulatory source, Argus noted that many of the companies granted the latest approvals were among those that had received permits in previous rounds. “These are some of the same ones that previously received the PMS permits,” the source was quoted as saying.
It was also claimed that AA Rano and Matrix Energy each received approvals to import 180,000 metric tonnes of petrol. AYM Shafa received approval for 120,000 metric tonnes, while Pinnacle Oil received a permit covering 150,000 metric tonnes.
For diesel imports, Argus reported that AYM Shafa obtained a permit for 60,000 metric tonnes, while Pinnacle secured approval for 45,000 metric tonnes. The report stated that the import approvals were issued only recently, after being delayed from an initial target date of June 15.
By Adedapo Adesanya
Three securities weakened the NASD Over-the-Counter (OTC) Securities Exchange by 1.01 per cent on Tuesday, June 23, dragging the market capitalisation down by N25.91 billion to N2.544 trillion from Monday’s N2.570 trillion. Also, the NASD Security Index (NSI) decreased by 43.17 points to 4,239.34 points from 4,282.51 points.
The triplet price losers were Central Securities Clearing System (CSCS) Plc, which gave up N4.82 to trade at N75.00 per unit versus Monday’s closing price of N79.82 per unit. NASD Plc depreciated by N3.70 to close at N33.30 per share compared with the preceding day’s N37.00 per share, and Nitrox Industrial Gases Plc marginally lost 1 Kobo to sell at N21.41 per unit, in contrast to the previous session’s N21.42 per unit.
Tuesday’s trading data showed that the volume of securities traded by investors retreated by 35.9 per cent to 211,671 units from 330,034 units, and the value of securities fell by 82.9 per cent to N5.6 million from N32.7 million, while the number of deals doubled to 38 deals from 19 deals.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by value on a year-to-date basis, with 3.4 billion units worth N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units valued at N6.5 billion, and CSCS Plc with 68.1 million units transacted for N4.7 billion.
GNI Plc also closed the trading day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, trailed by Infracredit Plc with 2.3 billion units exchanged for N6.5 billion, and Resourcery Plc with 1.1 billion units sold for N415.7 million.
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