Economy

Index Sheds 2.54% in 5 Days as Diamond Bank Loses 31.58%

Published

7 years ago

02/12/2018

By Dipo Olowookere

Last week on the floor of the Nigerian Stock Exchange (NSE), the All-Share Index and market capitalisation depreciated by 2.54 percent to close the week at 30,874.17 points and N11.271 trillion respectively.

Similarly, all other indices finished lower with the exception of the NSE ASeM, NSE Insurance and NSE Consumer Goods indices that finished higher by 0.09 percent, 4.71 percent and 0.08 percent respectively.

Also in the week, a total of 25 equities appreciated in price, lower than 30 in the previous week, while 41 equities depreciated in price, higher than 24 of the previous week, with 103 equities remaining unchanged, lower than 115 equities recorded in the preceding week.

Diamond Bank topped the losers’ chart with 31.58 percent loss to close at 65 kobo per share against 95 kobo per share it opened for the week.

Prestige Assurance followed with 30.38 percent decline to settle at 55 kobo per share, while Unity Bank went down by 18.82 percent to close at 69 kobo per share.

Associated Bus Company fell by 12.90 percent to end at 27 kobo per share, while AG Leventis Nigeria depreciated by 12.12 percent to quote at 29 kobo per share.

At the other end, Continental Reinsurance gained 33.33 percent to finish at N2 per share, while Beta Glas appreciated by 9.98 percent to close at N68.30 per share.

Cutix garnered 9.64 percent to close at N1.82 per share, GlaxoSmithKline rose by 9.43 percent to end at N14.50 per share, while Mutual Benefits Assurance gained 8.70 percent to settle at 25 kobo per share.

Business Post reports that a total turnover of 1.2 billion shares worth N14.3 billion in 15,841 deals were traded in the week by investors in contrast to a total of 1.282 billion shares valued at N23.1 billion that exchanged hands the previous week in 11,467 deals.

The Financial Services sector, measured by volume, led the activity chart with 963.3 million shares valued at N7.5 billion traded in 8,871 deals, contributing 80.38 percent and 52.79 percent to the total equity turnover volume and value respectively.

The Consumer Goods industry followed with 83 million shares worth N4.2 billion in 2,802 deals, while the third place was occupied by the Industrial Goods sector with a turnover of 60.8 million shares worth N2 billion in 1,639 deals.

Trading in the top three shares; Diamond Bank, Access Bank and Universal Insurance, measured by volume, accounted for 512.5 million shares worth N1.4 billion in 1,437 deals, contributing 42.76 percent and 9.57 percent to the total equity turnover volume and value respectively.

During the week, there was no trade recorded for Exchange Traded Products (ETPs). However, a total of 5,637 units valued at N1.301 million was transacted the previous week in 5 deals, while a total of 16,686 units of Federal Government Bonds valued at N16.442 million were traded in the week under review in 10 deals compared with a total of 3,032 units valued at N3.046 million transacted a week earlier in 16 deals.

Economy

NGX Index Rallies by 0.24% as Investors Chalk up N175bn

Published

37 minutes ago

21/06/2025

Dipo Olowookere

By Dipo Olowookere

The last trading session of the week on the floor of the Nigerian Exchange (NGX) Limited ended on a positive note on Friday with a 0.24 per cent rise.

During the trading day, the market capitalisation of Customs Street was up by N175 billion to N74.534 trillion from the N74.359 trillion recorded on Thursday.

In the same vein, the All-Share Index (ASI) of the local bourse increased by 277.09 points to 118,138.22 points from 117,861.13 points due to sustained bargain-hunting by investors in the banking and commodity sectors.

Data showed that the banking index went up by 1.65 per cent and the commodity sector appreciated by 0.75 per cent.

However, the insurance industry weakened by 1.07 per cent, the industrial goods space lost 0.76 per cent, and the consumer goods and energy counters fell by 0.16 per cent each.

Legend Internet grew by 10.00 per cent to sell for N7.92, Ellah Lakes appreciated by 9.90 per cent to N5.33, Champion Breweries expanded by 9.63 per cent to N8.20, Guinea Insurance rose by 8.70 per cent to 75 Kobo, and eTranzact gained 7.52 per cent to settle at N7.15.

On the flip side, Sunu Assurances declined by 8.62 per cent to N4.56, Northern Nigeria Flour Mills lost 8.00 per cent to trade at N93.20, Thomas Wyatt moderated by 7.83 per cent to N2.00, Livestock Feeds retreated by 6.90 per cent to N8.10, and NEM Insurance contracted by 5.03 per cent to N17.00.

A total of 487.1 million units of shares worth N18.7 billion exchanged hands in 17,421 deals yesterday compared with the 894.0 million units of shares valued at N22.0 billion transacted in 17,257 deals in the previous day, indicating an improvement in the number of deals by 0.95 per cent, and a contraction in the trading volume and value by 45.52 per cent and 15.00 per cent, respectively.

The busiest stock for the session was Fidelity Bank, which traded 38.3 million units valued at N741.5 million, CWG exchanged 25.0 million units for N230.8 million, Zenith Bank transacted 24.9 million units worth N1.2 billion, Coronation Insurance sold 24.4 million units valued at N48.7 million, and Access Holdings traded 23.6 million units worth N517.9 million.

Economy

FrieslandCampina Lifts NASD Index by 0.03%

Published

7 hours ago

21/06/2025

Adedapo Adesanya

By Adedapo Adesanya

FrieslandCampina Wamco Nigeria led the NASD Over-the-Counter (OTC) Securities Exchange to a 0.03 per cent growth on Friday, June 20.

During the session, the NASD Unlisted Security Index (NSI) went up by 24.15 points to close at 3,320.91 points, in contrast to the previous day’s 3,319.78 points while the market capitalisation added N670 million to finish at N1.944 trillion compared with the N1.943 trillion quoted at the preceding session.

Business Post reports that the share price of FrieslandCampina Wamco Nigeria Plc was up by 34 Kobo yesterday to N69.38 per unit from N69.04 per unit.

In the final trading day of the week, the volume of securities decreased by 14.9 per cent to 223,039 units from the 262,134 units traded a day earlier, but the value of securities soared by 233.2 per cent to N15.2 million from N4.6 million, and the number of deals slumped by 16 per cent to 21 deals from 25 deals.

At the close of transactions, Impresit Bakolori Plc remained the most active stock by volume on a year-to-date basis with 536.9 million units sold for N524.7 million, followed by Air Liquide Plc with 507.2 million units valued at N4.2 billion, and Geo-Fluids Plc with 268.5 million units worth N475.8 million.

Okitipupa Plc was also the most traded stock by value on a year-to-date basis with 153.7 million units valued at N4.9 billion, trailed by Air Liquide Plc with 507.2 million units traded at N4.2 billion, and FrieslandCampina Wamco Nigeria Plc with 40.5 million units sold for N1.7 billion.

Economy

Naira Appreciates to N1,547/$1 at NAFEM, N1,580/$1 at Parallel Market

Published

7 hours ago

21/06/2025

Adedapo Adesanya

By Adedapo Adesanya

The Naira improved its value against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, June 19 amid forex liquidity strain.

During the trading session, the domestic currency gained N2.84 or 0.18 per cent against the greenback in the official market to settle at N1,547.71/$1, in contrast to the N1,550.55/$1 traded in the previous day.

In the same vein, the Nigerian Naira gained N2.76 against the Pound Sterling at NAFEM yesterday to quote at N2,081..36/£1 versus Thursday’s closing price of N2,084.12/£1 and closed flat against the Euro to finish at N1,799.35/€1.

Also, in the parallel market, the Naira appreciated against the Dollar on Friday by N5 to sell for N1,580/$1 compared with the N1,585/$1 it was exchanged a day earlier.

This week, the Naira performed well due to continued investor confidence and market optimism boosted by better non-oil exports over the last few months and offshore FX inflows, which eased forex pressure.

In the week, the National Bureau of Statistics (NBS) said Nigeria’s headline inflation rate eased further to 22.97 per cent in May 2025 from the 23.71 per cent recorded in April 2025.

In addition, the Central Bank of Nigeria (CBN) signalled that the health of the country’s banking system was okay amid fears of dividend pause for banks facing possible distress.

Meanwhile, the cryptocurrency market turned bearish on Friday following escalating geopolitical tensions — triggered by Israel launching airstrikes on Iran last Thursday — caused cryptos to drop.

The tensions have only been mounting since, with US President Donald Trump calling for Iran’s “unconditional surrender” and threatening Iran’s supreme leader, Ayatollah Ali Khamenei.

Ethereum (ETH) lost 3.8 per cent to sell at $2,424.38, Solana (SOL) fell by 3.5 per cent to close at $140.31, Dogecoin (DOGE) slumped by 2.8 per cent to $0.1630, and Cardano (ADA) declined by 1.3 per cent to trade at $0.5836.

Further, Bitcoin (BTC) tumbled by 1.1 per cent to close at $103,555.63, Ripple (XRP) went down by 0.6 per cent to $2.12, Litecoin (LTC) shrank by 0.6 per cent to $83.97, and Binance Coin (BNB) slid by 0.3 per cent to $643.28, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 apiece.