Connect with us

Economy

Profit-Taking, Law Union Exit Deplete Stock Market by N6bn

Published

on

Stock Market Newspaper

By Dipo Olowookere

The total value of equities on the Nigerian Stock Exchange (NSE) reduced by N6 billion or 0.04 per cent on Thursday as a result of two major factors.

First, it was because of the soft-profit taking by investors at the market, while the second factor was the delisting of shares of Law Union and Rock Insurance Plc.

The company is no longer trading its equities on the exchange after it was bought over by Verod Capital through Kanuri LUR Limited.

As a result, the market capitalisation of the NSE, which closed on Wednesday at N16.068 trillion, ended yesterday at N16.062 trillion.

Though the All-Share Index depreciated during the session, it only went down marginally by 0.01 per cent or 2.96 points to 30,738.92 points from 30,741.88 points.

Business Post reports that the major contributor to the fall recorded at the bourse on Thursday was the losses printed by the insurance and consumer goods sectors, which slipped by 0.65 per cent and 0.53 per cent respectively.

They overpowered the slight gains posted by the banking (+0.06 per cent) and the oil/gas (+0.04 per cent). The industrial goods counter closed flat during the trading day.

However, there was an improvement in the level of activity on Thursday as the trading volume rose by 50.16 per cent to 430.1 million units from 286.4 million units, the trading value appreciated by 113.89 per cent to N6.6 billion from N3.1 billion and the number of deals rose by 49.50 per cent to 4,319 from 2,889.

The demand for FBN Holdings was high yesterday and made the stock the most active after trading 61.5 million units valued at N390.6 million.

BUA Cement traded 50.3 million units worth N2.3 billion, Access Bank transacted 46.2 million shares for N373.7 million, Transcorp sold 38.5 million stocks valued at N29.6 million, while Zenith Bank exchanged 36.0 million equities worth N787.4 million.

The market breadth was positive on Thursday following the 18 price gainers and 17 price losers recorded at the close of trading activities at 2.30pm.

Africa Prudential was the highest price gainer. The stock appreciated by 53 kobo to settle at N6.20 per unit and was trailed by Unilever Nigeria, which gained 40 kobo to close at N14.10 per share.

GTBank grew stronger by 20 kobo to N32.30 per unit, FBN Holdings rose by 15 kobo to N6.45 per share, while Learn Africa gained 10 kobo to close at N1.15 per share.

The losers table was led by Flour Mills, which lost 80 kobo to trade at N27.60 per unit and was followed by International Breweries, which fell by 40 kobo to finish at N6.50 per share.

Fidson depreciated by 30 kobo to N4.10 per share, Union Bank declined by 20 kobo to N5.30 per unit, while GlaxoSmithKline went down by 10 kobo to N5.80 per share.

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]

Economy

Wems BO Plans Personal Finance Retreat to Empower Nigerians

Published

on

Wems BO personal finance

By Adedapo Adesanya

Financial educator and coach, Mrs Wemimo “Wems BO” Bolu-Opaniran, is set to host the maiden edition of the Wems BO Personal Finance Retreat 1.0, a weekend event aimed at helping participants improve their financial literacy and develop practical money management skills.

According to a statement, the retreat is designed to make personal finance engaging and accessible through interactive sessions, games, networking opportunities, and one-on-one coaching sessions.

The organisers said the event will focus on providing attendees with practical and actionable financial knowledge rather than conventional lecture-style teaching.

“Come and unravel financial wisdom and leave with a practical and concrete action plan,” the organisers stated in a statement.

Activities lined up for the retreat include interactive finance sessions, networking opportunities, personal finance workbooks, games and activities, food and souvenirs, as well as three months of exclusive access to the event replay.

Speaking on the rationale for organising the event, Wems BO noted that lack is primarily not always the reason people have bad finances, but often, money culture is.

“The way one sees and treats money has been a development from years and decades past. So, what to do about money is not the solution. It is mindset, defaults and motivations shaping decisions.

The solution is an inner inquiring on why you do what you do, beyond money. Understanding who you are, then beginning to drive decisions that make you grow, manage and scale your finances in a way that aids the life you want,” she told Business Post.

Participants will also have the opportunity to receive one-on-one coaching with the finance guru.

The event is scheduled to be held from Friday, July 17 to Saturday, July 18, 2026, at an in-house venue on Lagos Mainland.

Ticket prices were pegged at N40,000 for individual attendees and N76,000 for duo tickets, with organisers noting that limited slots remain available.

Interested participants can register through the official registration link.

Continue Reading

Economy

Unlisted Securities Index Rises 0.91%

Published

on

Unlisted Securities Market

By Adedapo Adesanya

A 0.91 per cent growth was recorded by the NASD Over-the-Counter (OTC) Securities Exchange on Friday, May 22, after the share prices of four securities ended in green.

According to data, FrieslandCampina Wamco Plc went up by N15.61 to N179.67 per share from N164.06 per share, Newrest Asl Plc grew by N6.11 to N67.26 per unit from N61.15 per unit, Food Concepts Plc appreciated by 17 Kobo to N2.75 per share from N2.58 per share, and Nitrox Industrial Gases Plc added 6 Kobo to sell at N25.50 per unit compared with the previous day’s N25.44 per unit.

At the close of business, the market capitalisation chalked up N23.22 billion to settle at N2.561 trillion versus Thursday’s N2.538 trillion, and the NASD Unlisted Security Index (NSI) increased by 38.81 points to 4,281.28 points from 4,242.47 points.

During the session, the price of Central Securities and Clearing System (CSCS) Plc was down by N3.13 to N71.07 per share from N74.20 per share.

The activity chart showed that the volume of securities transacted by the market participants decreased yesterday by 81.6 per cent to 590,339 units from the 3.2 million units recorded on Thursday, as the number of deals shrank by 28.6 per cent to 30 deals from the 42 deals recorded a day earlier, while the value of securities increased by 0.5 per cent to N95.3 million from the preceding session’s N94.8 million.

Great Nigeria Insurance (GNI) Plc closed the day as the most active stock by value on a year-to-date basis, with a turnover of 3.4 billion units worth N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units sold for N6.5 billion, and CSCS Plc with 61.2 million units traded for N4.1 billion.

The most active stock by volume on a year-to-date basis was GNI Plc, with the sale of 3.4 billion units for N8.4 billion, followed by Infracredit Plc with 2.3 billion units valued at N6.5 billion, and Resourcery Plc with 1.1 billion units exchanged for N415.7 million.

Continue Reading

Economy

Stock Investors Gain N344bn amid Decline in Transactions

Published

on

stock investors' portfolios

By Dipo Olowookere

The Nigerian Exchange witnessed a decline in transactions on Friday despite closing higher by 0.22 per cent on the back of sustained bargain-hunting.

During the last trading session of the week, investors transacted 711.9 million equities valued at N29.1 billion in 62,386 deals compared with the 1.1 billion equities worth N31.0 billion traded in 62,448 deals in the previous day, indicating a decline in the trading volume, value, and number of deals by 35.28 per cent, 6.13 per cent, and 0.10 per cent, respectively.

Fidelity Bank closed the day as the most active stock with the sale of 198.1 million units for N4.6 billion, Access Holdings traded 69.7 million units worth N1.8 billion, Mutual Benefits exchanged 42.7 million units valued at N197.4 million, Japaul transacted 33.9 million units worth N134.4 million, and Zenith Bank sold 24.4 million units valued at N3.2 billion.

Yesterday, the industrial goods index rose by 0.53 per cent, the consumer goods sector jumped 0.28 per cent, the banking industry improved by 0.25 per cent, and the energy counter soared by 0.18 per cent, while the insurance space shed 0.18 per cent.

At the close of business, the All-Share Index (ASI) gained 536.98 points to finish at 249,712.37 points compared with the previous day’s 249,175.39 points, and the market capitalisation grew by N344 billion to N160.077 trillion from N159.733 trillion.

Aluminium Extrusion and DAAR Communications expanded by 10.00 per cent each to sell for N9.90 and N2.09, respectively, RT Briscoe surged by 9.93 per cent to N14.06, Learn Africa increased by 9.79 per cent to N12.90, and Red Star Express advanced by 9.56 per cent to N34.95.

On the flip side, Trans-Nationwide Express depreciated by 9.92 per cent to N5.72, Livestock Feeds dipped by 9.64 per cent to N8.90, The Initiates crashed by 8.65 per cent to N33.80, Ellah Lakes drowned by 8.64 per cent to N10.05, and Neimeth lost 6.36 per cent to trade at N10.30.

Continue Reading

Trending