Economy
Appetite for BUA Cement Stocks Lifts Nigerian Exchange by 0.59%
By Dipo Olowookere
The first trading session in the last quarter of the year ended on a positive note with a 0.59 per cent growth buoyed by the strong appetite for BUA Cement stocks.
Over the weekend, the management of the cement maker announced a reduction in the ex-factory price of its product to N3,500 per 50kg, attracting commendations from its consumers and those of its rivals, especially Dangote Cement’s customers.
On the first trading day of October, the share price of the company’s equities moved up by 9.94 per cent to N94.00, emerging as the best-performing stock.
It topped the group of 24 price gainers recorded at the Nigerian Exchange (NGX) Limited on Tuesday, with Beta Glass trailing after it chalked up 9.93 per cent to trade at N66.95. FTN Cocoa rose by 9.93 per cent to sell for N1.66, Oando grew by 9.55 per cent to N8.60, and UAC Nigeria increased its value by 8.50 per cent to N10.85.
On the flip side, there were 24 price losers led by Linkage Assurance, which fell by 10.00 per cent to 72 Kobo, CWG went down by 9.94 per cent to N7.79, Red Star Express dropped 9.86 per cent to settle at N2.65, Tantalizers fell by 9.38 per cent to 29 Kobo, and UPDC REIT shrank by 8.97 per cent to N3.55.
Business Post reports that the rush for BUA Cement jerked up the industrial goods index by 3.53 per cent, and the banking sector appreciated by 0.31 per cent.
However, the insurance counter depreciated by 1.81 per cent, and the consumer goods space went down by 0.41 per cent, while the energy sector closed flat.
When trading activities closed for the session, the All-Share Index (ASI) moved up by 388.83 points to 66,770.97 points from 66,382.14 points, and the market capitalisation grew by N213 billion to N36.544 trillion from N36.331 trillion.
A total of 364.3 million shares valued at N3.9 billion exchanged hands in 7,537 deals yesterday versus the 292.9 million shares worth N4.5 billion transacted in 6,323 deals last Friday, representing a decline in the trading value by 13.33 per cent, an increase in the trading volume by 24.38 per cent and jump in the number of deals by 19.20 per cent.
Consolidated Hallmark Insurance was the most traded stock during the session for selling 71.5 million units valued at N94.7 million, Fidelity Bank sold 33.2 million units for N272.3 million, Oando exchanged 26.2 million units worth N219.7 million, GTCO traded 21.4 million units valued at N752.7 million, and Access Holdings transacted 19.9 million units worth N318.6 million.
Economy
46 Stocks Gain Weight, 53 Equities Lose on NGX in One Week
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited was bullish last week despite investors’ mood swing, triggered by happenings in the country and across the globe, especially the Middle East crisis.
The All-Share Index (ASI) and the market capitalisation appreciated week-on-week by 3.94 per cent to 225,722.49 points and N145.335 trillion, respectively.
Similarly, all other indices finished higher with the exception of the growth and commodity indices, which depreciated by 0.02 per cent and 0.41 per cent, respectively, while the sovereign bond index closed flat.
A look at the price changes of shares in the five-day trading week showed that
46 stocks gained weight versus 61 stocks of the previous week, 53 equities shed weight compared with 36 equities a week earlier, and 47 shares closed flat, in contrast to 49 shares of the preceding week.
UAC Nigeria led the gainers’ chart after it chalked up 42.00 per cent to trade at N142.00, Union Dicon appreciated by 32.73 per cent to N21.90, NASCON expanded by 32.63 per cent to N206.90, Trans-Nationwide Express rose by 30.58 per cent to N7.90, and Zichis improved by 25.71 per cent to N15.60.
On the flip side, Infinity Trust Mortgage Bank led the losers’ group after it gave up 50.79 per cent to close at N9.35, Abbey Mortgage Bank declined by 33.33 per cent to N5.40, Guinea Insurance slipped by 15.20 per cent to N1.06, Stanbic IBTC lost 13.82 per cent to settle at N162.50, and Living Trust Mortgage Bank slumped by 10.98 per cent to N3.65.
As for the activity log, Customs Street recorded a turnover of 3.805 billion shares worth N213.955 billion in 297,202 deals in the week compared with 3.588 billion shares valued at N195.313 billion transacted in 254,553 deals in the previous week.
Financial stocks led the activity chart with 2.739 billion units sold for N106.269 billion in 135,101 deals, contributing 71.99 per cent and 49.67 per cent to the total trading volume and value, respectively.
Services equities traded 212.324 million units worth N4.024 billion in 17,042 deals, and consumer goods shares exchanged 180.076 million units valued at N13.269 billion in 32,457 deals.
Access Holdings, UBA, and First Holdco were the busiest with 814.060 million units traded for N39.032 billion in 37,195 deals, contributing 21.40 per cent and 18.24 per cent to the total equity turnover volume and value, respectively.
Economy
NGX Group’s 65th Annual General Meeting Holds April 29
By Aduragbemi Omiyale
The 65th Annual General Meeting (AGM) of the Nigerian Exchange (NGX) Group Plc has been fixed for Wednesday, April 29, 2026, at 11:00 am at its corporate head office on 2–4 Customs Street, Lagos.
Business Post gathered that the meeting would be streamed live on the company’s website and social media platforms to enable broader participation by shareholders and stakeholders unable to attend physically.
As part of a special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals.
The proposal also includes an increase in the organisation’s share capital from N1,102,309,954 to N1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure.
Also at the gathering, shareholders will consider and, if deemed fit, approve the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, board evaluation consultants, and audit committee.
The meeting will also deliberate on the declaration of a final dividend and the re-election of three non-executive directors retiring by rotation, who are Mr Umaru Kwairanga, Mrs Ojinika Olaghere, and Dr Okechukwu Itanyi.
Other ordinary business items on the agenda include authorising the board to fix the remuneration of the external auditors, determining the remuneration of managers, and electing members of the statutory audit committee.
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