Connect with us

Economy

NSE Market Indices Drop 1.16% as Sell Off Persists

Published

on

By Dipo Olowookere

Investors trading shares on the floor of the Nigerian Stock Exchange (NSE) embarked on a massive sell-off of their banking stocks on Tuesday, dipping the stock market further by 1.16 percent at the close of transactions.

Business Post reports that the market capitalisation, which managed to stay above N16 trillion yesterday, dropped to the N15 trillion zone when market closed for the day.

The value of stocks trading at the market, which was N16.090 trillion on Monday, closed today at N15.903 trillion, while the All-Share Index (ASI), which stood at 44,912.53 points yesterday, reduced to 44,389.85 points on Tuesday.

Also, the volume and value of shares transacted by investors depreciated on Tuesday as a total of 737.9 million shares worth N7.7 billion exchanged hands today in contrast to 4.4 billion stocks traded for N15.9 billion yesterday.

Skye Bank attracted the attention of investors on Tuesday, emerging the most traded equity after selling 150.4 million units worth N226.8 million.

FBN Holdings traded 104.2 million shares worth N1.4 billion, while Wema Bank transacted 64 million shares for N87.4 million.

Furthermore, Diamond Bank exchanged 44.4 million equities valued at N144.8 million, while Transcorp sold 43.4 million shares worth N94.3 million.

On the price movement chart, Mobil was the biggest price loser, shedding N7 of its share value to close at N209 percent.

It was followed by N4 to settle at N269 per share, and Julius Berger, which lost N1.60k to finish at N30.40k per share.

GTBank depreciated by N1.51k to end at N52 per share, while Zenith Bank went down by 75k to close at N32 per share.

On the flip side, Seplat topped the gainers’ chart after adding N9.99k to its share price to settle at N685 per share.

Unilever grew by N2.21k to close at N46.41k per share, while Nigerian Breweries appreciated by N2 to finish at N145 per share.

Presco rose by N1.31k to finish at N70 per share, while Nestle increased by N1.11k to end at N1471.11k per share.

Business Post expects further profit-taking tomorrow, though not as heavy as recorded today.

 

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Economy

SEC Postpones Q2 2026 Pre-registration Training, Examination for CMOs

Published

on

capital market operators

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.

Continue Reading

Economy

Fidson Lists Additional 600 million Shares on Stock Exchange

Published

on

fidson

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.”

Continue Reading

Economy

FG Approves Payments to 1,240 Contractors to Ease Liquidity Pressure

Published

on

FG contractors protest

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.

Continue Reading

Trending