Connect with us

Economy

Banking Stocks Grow Investors’ Portfolios by N5bn Thursday

Published

on

Stock Investors

By Dipo Olowookere

The sum of N5 billion was gained by the stock market on Thursday, thanks to the banking and industrial goods equities, which had their respective indices rising by 1.08 percent and 0.25 percent.

The Nigerian Stock Exchange (NSE) recorded a marginal growth of 0.04 percent at the close of transactions yesterday, with 24 stocks closing in the green territory and 11 in red.

This helped the All-Share Index (ASI) post a 10.66-point appreciation to 26,426.20 points from 26,415.54 points. Also, the market capitalisation increased by N5 billion to N13.770 trillion from N13.765 trillion.

Business Post reports that the level of activity was strong on Thursday compared with the previous session as the value of transactions increased by 178.89 percent to N7.8 billion from N2.8 billion.

Also, the volume of trades grew by 40.36 percent to 431.9 million from 307.7 million, while the number of deals executed advanced by 2.24 percent 4,518 deals from 4,419 deals.

Much of the trades were from the financial services sector, with GTBank getting the most attention of investors after selling 75.8 million units valued at N1.9 billion.

Zenith Bank traded 62.8 million shares worth N1.3 billion, Red Star Express exchanged 61.8 million equities for N184.2 million, UBA transacted 42.9 million stocks for N302.9 million, while United Capital traded 33.2 million equities valued at N104.6 million.

On the price movement chart, Stanbic IBTC emerged as the best performing stock, gaining N3.20 on a day it released an impressive 2019 earnings to close at N35.70 per share.

Ecobank gained 55 kobo to sell at N6.45 per unit, Zenith Bank improved by 40 kobo to quote at N20 per share, GTBank appreciated by 30 kobo to trade at N24.90 per unit, while UBA advanced by 25 kobo to sell at N7.15 per share.

The worst performing equity at the market yesterday was Nestle Nigeria. The company’s stocks depreciated by N63 to settle at N1017 per unit.

GlaxoSmithKline lost 40 kobo to sell at N3.80 per share, Union Bank declined by 25 kobo, the same amount it plans to pay shareholders as dividend for the first time in over a decade, to finish at N6.85 per unit.

Access Bank went down by 20 kobo to N8.80 per share, while Eterna depreciated by 16 kobo to settle at N2.02 per share.

The insurance and consumer goods sectors depreciated yesterday by 0.90 percent and 3.30 percent respectively, while the oil/gas counter closed flat.

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