Connect with us

Economy

Investors Stake N75.745bn on 6.468 billion Stocks in Five Days

Published

on

stock market how to invest in US stocks in South Africa

By Dipo Olowookere

Last week, investors bought and sold 6.468 billion shares worth N75.745 billion in 48,804 deals compared with the 2.717 billion shares valued at N54.632 billion traded in 46,848 deals in the preceding week.

The financial services industry led the activity chart with 5.666 billion stocks valued at N44.263 billion traded in 23,268 deals, contributing 87.60 per cent and 58.44 per cent to the total trading volume and value, respectively.

The energy sector followed with 245.722 million stocks worth N15.877 billion in 9,057 deals, and the third place was the agriculture counter with 216.422 million stocks sold for N1.087 billion in 1,653 deals.

Sovereign Trust Insurance, Consolidated Hallmark and UBA accounted for 3.839 billion equities worth N20.905 billion in 5,652 deals, contributing 59.36 per cent and 27.60 per cent to the total trading volume and value, respectively.

The week was marred with selling pressure, leaving the All-Share Index and the market capitalisation of the Nigerian Exchange (NGX) Limited depressed by 0.20 per cent to 97,236.19 points and N58.920 trillion, respectively.

All other indices finished higher with the exception of NGX Main Board, NGX 30, Lotus II and the industrial goods which depreciated by 0.48 per cent, 0.17 per cent, 0.08 per cent, and 0.02 per cent, respectively while the ASeM index closed flat.

Business Post reports that 31 equities appreciated during the week versus 39 equities in the preceding week, 42 equities depreciated versus 45 equities in the previous week, and 79 equities remained unchanged, in contrast to 68 equities a week earlier.

Eunisell topped the gainers’ chart after it grew by 45.91 per cent to N8.20, John Holt gained 45.76 per cent to trade at N4.81, Conoil rose by 37.35 per cent to N260.00, Sovereign Trust Insurance chalked up 21.05 per cent to quote at 69 Kobo, and Consolidated Hallmark jumped by 14.86 per cent to N1.70.

Oando, on its part, topped the losers’ gang after it shed 21.97 per cent to settle at N69.95, Abbey Mortgage Bank declined by 18.15 per cent to N2.66, Deap Capital weakened by 14.40 per cent to N1.07, Tantalizers crumbled by 12.50 per cent to 56 Kobo, and Meyer retreated by 9.98 per cent to N7.67.

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

Economy

AXA Mansard Offers MSME Customers Free Exhibition Stands at Fair

Published

on

Axa Mansard

By Modupe Gbadeyanka

Customers of AXA Mansard in the Micro Small and Medium Scale Enterprise (MSME) sector of the economy will enjoy free exhibition stands at the Made by Nigerians Fair.

The fair is scheduled to take place on Saturday, December 7 and Sunday, December 8, 2024, at the Landmark Event Centre, Lagos.

To support small business owners, AXA Mansard is paying for stands for selected entrepreneurs to showcase their products at the fair, which attracts thousands of people.

According to the Head of Marketing at AXA Mansard Insurance Plc, Mr Olusesan Ogunyooye, this is another gesture by the company to show that MSMEs can benefit from having insurance.

He described MSMEs as the backbone of any economy, noting that they drive innovation, create jobs, and contribute significantly to national development.

“Our support for these businesses at the MBN Fair reflects the commitment to their growth and sustainability.  We are passionate about helping them reach their full potential by connecting them with resources and opportunities that foster success.

“By the very nature of insurance, its benefits are in the future and they are uncertain. That has been a main source of discouragement, particularly to MSMEs. Businesses are geared to making money.

“So, when thinking about insurance, an average MSME would rather invest the money in the growth of his business first.

“The risks that businesses face are also real. There are various types of risks businesses have to contend with today; from burglary to fire, the health of employees, and so on.

“When these risks manifest, they can significantly impact a business negatively. We understand that to get MSMEs to protect themselves and the millions of jobs they create, we must help them strike a balance between growing their businesses and protecting them.

“So, we have come up with different Initiatives to help them grow their businesses. The opportunity to exhibit their products and services to thousands of visitors to the MBN Fair is another in the series of our initiatives.

“We are convinced that for insurance to grow, we need to help people and businesses see it as a strategic lever to grow their businesses, not a cost that takes away from them. If we get this right, it can’t have a massive impact on our economy because, when MSMEs thrive, the economy will prosper.

“We have experimented with this model, and we are particularly excited about the responses from our customers. It is a call for us to do more, and we are committed to Nigerian MSMEs,” Mr Ogunyooye stated.

Continue Reading

Economy

NASD Index Rises 0.05% on Afriland Properties Closes in Green

Published

on

NASD securities exchange

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.05 per cent gain on Friday, December 6 after the price of Afriland Properties Plc went up by 60 Kobo to settle for the day at N16.60 per share versus Thursday’s closing price of N16.00 per share.

Consequently, the market capitalisation of the bourse increased during the session by N520 billion to settle at N1.056 trillion, the same value it ended a day earlier, as the NASD Unlisted Security Index (NSI) went up by 1.5 points to wrap the session at 3,014.91 points compared with 3,013.41 points recorded in the previous session.

Business Post reports that yesterday, the price of Acorn Petroleum Plc depreciated at the close of business by 15 Kobo to trade at N1.54 per unit compared with the preceding day’s N1.69 per unit.

The volume of securities traded in the session by investors soared by 168.3 per cent on Friday to 199,577 units from 74,381 units, but the value of securities went down by 45.8 per cent to N1.4 million from the N2.7 million recorded a day earlier, and the number of deals grew by 20 per cent to six deals from the five deals executed in the preceding session.

Geo-Fluids Plc remained the most active stock by volume (year-to-date) with 1.7 billion units sold for N3.9 billion, trailed by Okitipupa Plc with 752.2 million units valued at N7.8 billion, and Afriland Properties Plc with 297.3 million units worth N5.3 million.

Also, Aradel Holdings Plc remained the most active stock by value (year-to-date) with 108.7 million units worth N89.2 billion, followed by Okitipupa Plc with 752.2 million units valued at N7.8 billion, and Afriland Properties Plc with 297.3 million units sold for N5.3 billion.

Continue Reading

Economy

Nigerian Exchange Rebounds by 0.10%

Published

on

Nigerian Exchange Limited

By Dipo Olowookere

The Nigerian Exchange (NGX) Limited rebounded by 0.10 per cent on Friday as almost all the key sectors closed in green when trading activities ended for the week.

The banking index appreciated by 0.73 per cent, the insurance sector gained 0.55 per cent, the energy counter improved by 0.17 per cent, and the industrial goods space jumped by 0.04 per cent, while the consumer goods sector depreciated by 0.16 per cent.

At the close of business, the All-Share Index (ASI) moved up by 96.64 points to 98,210.75 points from 98,114.11 points and the market capitalisation gained N58 billion to quote at N59.534 trillion compared with Thursday’s closing value of N59.476 trillion.

The bourse finished with 27 price advancers and 21 price decliners, representing a positive market breadth index and bullish sentiment.

Golden Guinea Breweries jumped by 9.98 per cent to N5.40, Japaul improved by 9.30 per cent to N2.35, Sunu Assurances expanded by 9.07 per cent to N5.05, Sovereign Trust Insurance rose by 7.69 per cent to 84 Kobo, and Secure Electronic Technology grew by 7.69 per cent to 70 Kobo.

On the flip side, Eterna lost 4.62 per cent to N22.70, Sterling Holdings depreciated by 4.12 per cent to N4.65, Prestige Assurance fell by 3.85 per cent to 75 Kobo, Consolidated Hallmark shrank by 3.85 per cent to N2.50, and Champion Breweries slumped by 3.50 per cent to N3.86.

Yesterday, investors bought and sold 1.0 billion equities worth N17.5 billion in 7,220 deals, in contrast to the 723.0 million equities valued at N12.8 billion transacted in 8,495 deals a day earlier, indicating a decline in the number of deals by 15.01 per cent and a surge in the trading volume and value by 43.98 per cent and 36.72 per cent, respectively.

On top of the activity chart on Friday was Wema Bank with the sale of 472.5 million stocks valued at N4.1 billion, Fidelity Bank traded 251.5 million shares worth N4.0 billion, FCMB transacted 45.0 million equities for N404.9 million, UBA sold 42.3 million shares valued at N1.4 billion, and Japaul traded 20.7 million stocks worth N46.3 million.

Continue Reading

Trending