Economy
GTCO, Others Restore Stability to Stock Market by 1.63%
By Dipo Olowookere
Normalcy returned to the Nigerian Exchange (NGX) Limited on Thursday with a 1.63 per cent growth after two days of selling pressure, which made the bears dominate the market.
Gains reported by shares in the financial and consumer goods sectors lifted the bourse during the session as investors chewed on the new policies of the Central Bank of Nigeria (CBN) to address the foreign exchange (FX) crisis in the country, which has contributed to high inflation.
The banking counter increased yesterday by 7.82 per cent, the consumer goods index appreciated by 4.37 per cent, the insurance sector grew by 2.18 per cent, the industrial goods space gained 0.35 per cent, and the energy counter advanced by 0.02 per cent.
As a result, the All-Share Index (ASI) was elevated by 1,647.80 points to 102,802.25 points from 101,154.45 points, and the market capitalisation went up by N902 billion to close at N56.260 trillion compared with the previous day’s N55.358 trillion.
Investor sentiment turned bullish during the trading day after 53 stocks ended on the gainers’ chart and 18 stocks finished on the losers’ table, implying a positive market breadth index.
The quartet of Caverton, Chams, GTCO, and Veritas Kapital appreciated by 10.00 per cent each to trade at N1.87, N2.64, N40.70, and 66 Kobo apiece, as NASCON gained 9.98 per cent to close at N67.75.
Conversely, Deap Capital weakened by 9.88 per cent to 73 Kobo, CWG declined by 9.87 per cent to N6.85, RT Briscoe lost 9.86 per cent to trade at 64 Kobo, University Press depleted by 9.76 per cent to N3.33, and McNichols crashed by 9.43 per cent to N1.44.
Business Post reports that Universal Insurance was the most active stock on Thursday, selling 113.8 million units for N42.5 million, Transcorp traded 91.0 million units worth N1.2 billion, Zenith Bank exchanged 74.3 million units valued at N2.8 billion, UBA transacted 69.2 million units worth N1.7 billion, and Veritas Kapital traded 58.7 million units valued at N36.0 million.
When trading activities were wrapped up for the day, investors had bought and sold 861.0 million equities valued at N12.2 billion in 12,851 deals as against the 749.1 million equities worth N22.5 billion traded in 14,288 deals in the midweek session, representing a rise in the volume of transactions by 14.94 per cent, a decline in the value of transactions by 45.78 per cent, and a decrease in the number of deals by 10.06 per cent.
By Aduragbemi Omiyale
One of the paint makers in Nigeria, Premier Paints Plc, is currently in talks with a new investor, Xenergi Limited, for the purchase of 51 per cent stake in the company.
Xenergi Limited intends to acquire shares of Clover Global Resources Limited and TGHL Capital Limited in the organisation.
Business Post gathered that the new investor will buy 39.02 per cent from Clover Global Resources Limited and 15.20 per cent from TGHL Capital Limited.
The deal, according to a regulatory notice issued on Tuesday on the Nigerian Exchange (NGX) Limited, will involve about 63 million shares of Premier Paints.
At the current share price of the paint producer, this should be about N630 million as it closed at N10.00 per unit on NGX on December 16, 2025.
“Subject to obtaining required regulatory approvals, the transaction is expected to close before January 31, 2026.
“The company will continue to inform the public of the progress of the transaction,” the disclosure signed by the company secretary, Alozie Nwokoro, said.
By Adedapo Adesanya
The Naira was flat against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Tuesday, December 16, retaining the previous closing value of N1,451.82/$1.
In the same vein, the local currency saw no movement against the Pound Sterling and the Euro in the spot market during the session at N1,943.98/£1 and N1,705.74/€1, respectively.
Also, the Nigerian Naira remained unchanged in the black market yesterday at N1,475/$1 and was N1,460/$1 at the GTBank forex counter.
The Central Bank of Nigeria (CBN) has strengthened US Dollar supply with $250 million to authorised dealer banks at the official window cumulatively as foreign portfolio investors, exporters and non-bank corporate supply dripped.
The spread between official and other non-regulated markets decreased to N30.59$/1 from N44.57/$1, from the previous week, research subsidiary of Coronation Merchant Bank Limited said in a report.
FX analysts said foreign exchange inflows through the Nigerian Foreign Exchange Market decreased to $716.3 million from $844.70 million in the previous week , a 15 per cent drop in a week.
Foreign portfolio investors accounted for the highest share of inflows at 32.98 per cent, followed by exporters at 30.84 per cent, the CBN (17.36 per cent), Non-bank Corporates (16.94 per cent), others (0.72 per cent) and Individuals (0.63 per cent).
On Monday, Nigeria’s headline inflation rate eased to 14.45 per cent in November 2025, down from 16.05 per cent recorded in October, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS), representing a decrease of 1.6 percentage points month-on-month and marks a significant moderation compared to the same period last year.
As for the cryptocurrency market, there was some recoveries after overall capitalization falling below $3 trillion for the third time in a month. Large-cap assets, particularly those with Exchange Traded Fund (ETF) exposure, are experiencing selling pressure as institutional investors reassess risk.
Ripple (XRP) appreciated by 1.5 per cent to $1.92, Litecoin (LTC) expanded by 1.5 per cent to $78.91, Dogecoin (DOGE) rose by 0.8 per cent to $0.1308, Solana (SOL) went up by 0.4 per cent to $127.60, Binance Coin (BNB) grew by 0.3 per cent to $865.40, and Bitcoin (BTC) gained 0.2 per cent to sell at $86,735.17.
On the flip side, Cardano (ADA) depreciated by 1.0 per cent to $0.3802 and Ethereum (ETH) slumped by 0.4 per cent to $2,935.85, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) were flat at $1.00 each.
By Dipo Olowookere
A marginal 0.01 per cent rise was recorded by the Nigerian Exchange (NGX) Limited on Tuesday. This was different from the flattish mode of the market the previous day.
Investor sentiment remained bullish as Customs Street finished with 31 price gainers and 26 price losers, implying a positive market breadth index.
Aluminium Extrusion topped the gainers’ log after it improved its price by 10.00 per cent to N9.35, Guinness Nigeria appreciated by 9.98 per cent to N263.40, Multiverse expanded by 9.95 per cent to N12.15, MeCure Industries also soared by 9.95 per cent to N45.85, and Sovereign Trust Insurance advanced by 9.89 per cent to N4.11.
Conversely, Haldane McCall led the losers’ chart after it shed 9.93 per cent to settle at N3.72, Veritas Kapital lost 9.09 per cent to close at N1.60, LivingTrust Mortgage Bank also declined by 9.09 per cent to N3.50, and Linkage Assurance depreciated by 5.71 per cent to N1.65.
During the trading day, the All-Share Index (ASI) went up by 21.23 points to 149,459.11 points from the previous day’s 149,437.88 points and the market capitalisation increased by N14 billion to N95.281 trillion from N95.267 trillion.
Yesterday, traders transacted 1.0 billion equities for N21.8 billion in 23,701 deals compared with the 553.1 million equities valued at N13.3 billion traded in 28,907 deals on Monday, representing a decline in the number of deals by 18.01 per cent, and a surge in the trading volume and value by 80.80 per cent and 63.91 per cent apiece.
Access Holdings traded 385.8 million stocks worth N7.7 billion, Champion Breweries transacted 111.8 million shares valued at N817.8 million, Sterling Holdings exchanged 85.5 million equities for N589.9 million, FCMB sold 74.7 million shares valued at N791.5 million, and First Holdco transacted 51.9 million equities worth N1.8 billion.
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