Economy
NGX All-Share Index Rises Above 155,000 Points on 0.42% Gain
By Dipo Olowookere
A 0.42 per cent gain was recorded by the Nigerian Exchange (NGX) on Tuesday on the back of sustained bargain-hunting by investors.
This further raised the All-Share Index (ASI) by 645.19 points to 155,034.72 points from 154,389.53 points and increased the market capitalisation by N411 billion to N98.843 trillion from N98.432 trillion.
According to data, Guinea Insurance topped the advancers’ chart during the session by 10.00 per cent to settle at N1.32, as Honeywell Flour also grew by 10.00 per cent to N21.45, and Julius Berger expanding too by 10.00 per cent to N152.90, with Austin Laz chalking up 9.94 per cent to sell for N3.87.
On the other hands, Union Dicon lost 10.00 per cent to finish at N6.30, Living Trust Mortgage Bank shrank by 10.00 per cent to trade at N3.42, First Holdco slipped by 9.94 per cent to N44.40, Veritas Kapital depreciated by 7.47 per cent to N1.61, and Mutual Benefits slumped by 7.46 per cent to N3.10.
Investor sentiment remained bullish after the bourse closed the day with 46 appreciating equities and 24 depreciating equities, indicating a positive market breadth index.
There was a spike in the level of activity yesterday, with the trading volume soaring by 213.33 per cent to 4.7 billion shares from the 1.5 billion shares recorded a day earlier, and the trading value inflating by 9.58 per cent to N38.9 billion from N35.5 billion.
However, the number of deals decreased during the trading session by 27.28 per cent to 34,852 deals from the 47,892 deals achieved on Monday.
Cornerstone Insurance was responsible for the significant rise in the trading volume after selling 3.7 billion equities worth N18.5 million. FCMB traded 302.4 million stocks valued at N3.3 billion, Wema Bank exchanged 97.4 million shares for N1.9 billion, Access Holdings transacted 75.1 million stocks valued at N1.6 billion, and Chams sold 47.5 million equities worth N169.5 million.
By Aduragbemi Omiyale
One of the companies owned by serial entrepreneur, Mr Tony Elumelu, Heirs Energies Limited, has acquired about 20.07 per cent stake in Seplat Energy Plc.
Mr Elumelu is joining Seplat Energy as one of its key shareholders by buying the entire shares of Maurel and Prom, about 120.4 million units, in the Nigerian Exchange-listed organisation.
According to reports, the French oil and gas producer sold its shares to Heirs Energies for about $496 million. The deal for sealed on Tuesday, December 20, 2025.
Maurel and Prom will receive $248 million upfront, with the remaining balance payable within 30 days and secured by an irrevocable letter of credit.
The agreement also includes a possible $10 million contingent payment tied to Seplat’s share price performance over the next six months.
This deals comes after Heirs Energies and Afreximbank seals a $750 financing deal some days ago.
By Adedapo Adesanya
Bellwether stocks, FrieslandCampina Wamco Nigeria Plc and Central Securities Clearing System (CSCS) Plc, triggered a 0.24 per cent loss in the NASD Over-the-Counter (OTC) Securities Exchange on Tuesday, December 30.
The losses recorded by the duo pulled down the market capitalisation of the platform by N5.11 billion to N2.120 trillion from N2.125 trillion and weakened the NASD Unlisted Security Index (NSI) by 8.54 points to 3,543.46 points from the 3,552.00 points it ended a day earlier.
During the session, FrieslandCampina Wamco Nigeria Plc lost N2.12 to sell at N47.00 per unit versus Monday’s price of N49.12 per unit and CSCS Plc declined by 80 Kobo to close at N35.00 per share against the previous trading value of N35.80 per share.
However, Newrest Asl Plc gained N4.59 to sell at N50.53 per unit compared with the previous day’s value of N45.94 per unit, and Golden Capital Plc appreciated by N1.02 to trade at N11.24 per share, in contrast to the preceding session’s N10.22 per share.
The trading barometers pointed south during the session as the volume of securities traded by investors depleted by 95.1 per cent to 1.4 million units from the previous day’s 29.6 million units, the value of securities depreciated by 86.7 per cent to N204.6 million from N1.5 billion, and the number of deals slumped by 15.2 per cent to 28 deals from 33 deals.
At the close of business, Infrastructure Credit Guarantee Company (InfraCredit) Plc remained the most traded stock by value on a year-to-date basis with 5.8 billion units sold for N16.4 billion, trailed by Okitipupa Plc with a turnover of 187.6 million units valued at N10.9 billion, and MRS Oil Plc with 36.1 million units worth N4.9 billion.
In terms of volume, also on a year-to-date basis, InfraCredit Plc led the chart with 5.8 billion units traded for N16.4 billion. followed by Industrial And General Insurance (IGI) Plc with 1.2 billion units transacted for N420.7 million, and Impresit Bakolori Plc with 536.9 million units valued at N524.9 million.
By Adedapo Adesanya
The Naira weakened against the United States Dollar on Tuesday, December 30 in the Nigerian Autonomous Foreign Exchange Market (NAFEM) by N3.17 or 0.22 per cent to N1,445.68/$1 compared with the previous day’s N1,442.51/$1.
Equally, the Nigerian Naira depreciated against the Pound Sterling in the official market yesterday by N6.01 to close at N1,951.67/£1 versus the previous day’s N1,945.66/£1 and lost N2.87 on the Euro to trade at N1,700.27/€1 compared with Monday’s closing price of N1,697.40/€1.
But, at the GTBank forex counter, the local currency appreciated against the greenback during the session by N5 to sell for N1,452/$1, in contrast to the preceding session’s N1,457/$1 and closed flat in the black market at N1,480/$1.
The loss posted by the domestic currency in the spot market was amid FX sales to authorised dealers by the Central Bank of Nigeria (CBN) to strengthen currency market.
It also happened amid assurances that Nigeria’s economy remains stable and resilient despite a recent joint security operation conducted by Nigerian and the US forces targeting ISIS-linked camps in Sokoto, which heightened fears to spook the market.
The apex last week stepped up FX intervention with $150 million and this week, sold $50 million to banks again in an unending intervention to stabilise the exchange rate.
As for the cryptocurrency market, major tokens rose as investors and traders took advantage of lower price entry. In the past few weeks, the markets was impacted by low liquidity and decline in risk appetites.
The focus is now on whether the market can maintain its support levels into the new year, as the tokens failed rally may signal a need for a deeper market reset.
Solana (SOL) improved by 1.5 per cent to $125.59, Binance Coin (BNB) appreciated by 1.4 per cent to $864.28, Bitcoin (BTC) grew by 1.2 per cent to $88,344.59, Ethereum (ETH) increased by 0.9 per cent to $2,968.64, Ripple (XRP) went up by 0.4 per cent to $1.86, and Litecoin (LTC) rose by 0.2 per cent to $78.13.
On the flip side, Dogecoin (DOGE) declined by 0.4 per cent to $0.1228, and Cardano (ADA) depreciated by 0.2 per cent to $0.3511, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) were flat at $1.00 each.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism9 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 agoFirst Bank Announces Planned Downtime
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn