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Investors Transact 2.618 billion Shares Worth N69.742bn in One Week

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Attract Stock Investors

By Dipo Olowookere

A total of 2.618 billion shares worth N69.742 billion in 47,953 deals exchanged hands last week on the floor of the Nigerian Exchange (NGX) Limited versus the 1.387 billion shares valued at N52.023 billion transacted in the preceding week in 33,411 deals.

Business Post reports that last week, the market opened for four trading days as a result of the New Year public holiday observed last Wednesday.

In the previous week, the NGX operated for three days after the federal government declared Wednesday, December 25 and Thursday, December 26, 2024, as public holidays for Christmas and Boxing Day.

In the period under review, financial shares dominated the bourse with 1.751 billion units worth N17.079 billion in 20,595 deals, contributing 66.88 per cent and 24.49 per cent to the total trading volume and value, respectively.

Services stocks traded 205.807 million units valued at N1.829 billion in 3,654 deals as ICT equities recorded the sale of 189.938 million units worth N1.844 billion in 3,686 deals.

Royal Exchange, Chams, and Universal Insurance accounted for 612.033 million shares worth N773.439 million in 2,108 deals, contributing 23.38 per cent and 1.11 per cent to the total trading volume and value, respectively.

Prestige Assurance was the best-performing stock last week with a price appreciation of 46.00 per cent to trade at N1.46, Neimeth gained 45.26 per cent to settle at N2.76, Sovereign Trust Insurance expanded by 45.16 per cent to N1.35, Coronation Insurance rose by 44.92 per cent to N2.71, and Universal Insurance improved by 43.64 per cent to 79 Kobo.

The worst-performing stock in the week was PZ Cussons with a decline of 13.79 per cent to finish at N25.00, CWG lost 10.83 per cent to trade at N7.00, Union Dicon Salt fell by 10.00 per cent to N7.20, NGX Group shrank by 9.17 per cent to N27.25, and Cadbury Nigeria went down by 6.52 per cent to N21.50.

At the close of business, 82 equities appreciated versus 64 equities in the previous week, 18 shares depreciated compared with 20 shares of the preceding week, and 52 stocks closed flat, in contrast to 69 stocks a week earlier.

Last week, the All-Share Index (ASI) and the market capitalisation appreciated by 1.42 per cent and 2.02 per cent to 103,586.33 points and N63.166 trillion, respectively.

Similarly, all other indices finished higher apart from the energy and sovereign bond indices, which depreciated by 0.45 per cent and 3.28 per cent, respectively while the ASeM and commodity indices closed flat.

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]

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Economy

Buying Pressure Buoys NGX All-Share Index by 0.10%

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All-Share Index NGX

By Dipo Olowookere

The Nigerian Exchange (NGX) Limited witnessed continued buying interest from offshore and domestic investors on Thursday, strengthening the market further by 0.10 per cent at the close of transactions.

Data revealed that the All-Share Index (ASI) was up by 105.26 points yesterday to 105,430.15 points from the preceding day’s 105,324.89 points, and the market capitalisation expanded by N65 billion to close at N65.287 trillion compared with the previous session’s N65.222 trillion.

Business Post observed that the market participants showed interest in equities across the key sectors of the exchange because of their prospects to yield better value later.

The insurance counter gained 0.63 per cent, the consumer goods index appreciated by 0.18 per cent, the energy index improved by 0.13 per cent, the banking space jumped by 0.09 per cent, and the industrial goods industry grew by 0.04 per cent.

Eterna chalked up 9.88 per cent to trade at N33.35, Cadbury Nigeria also gained 9.88 per cent to finish at N26.70, Fidson increased its value by 9.77 per cent to N19.10, UPDC rose by 9.77 per cent to N2.36, and Deap Capital soared by 9.38 per cent to N1.05.

On the flip side, Tripple G lost 9.72 per cent to end at N2.23, Golden Breweries receded by 8.91 per cent to N7.87, Veritas Kapital slumped by 7.81 per cent to N1.18, Caverton dipped by 5.53 per cent to N2.05, and Regency Alliance slipped by 4.05 per cent to 71 Kobo.

When the bourse closed for the session, there were 33 price advancers and 23 price decliners, indicating a positive market breadth index and strong investor sentiment.

Yesterday, investors bought and sold 537.2 million shares valued at N23.0 billion in 15,450 deals versus the 1.1 billion shares worth N28.8 billion traded in 15,080 deals on Wednesday, representing a rise in the number of deals by 2.45 per cent, and a decline in the trading volume and value by 49.19 per cent and 20.14 per cent, respectively.

Access Holdings led the activity log with 61.6 million stocks valued at N1.7 billion, Sterling Holdings exchanged 50.2 million equities for N296.2 million, Zenith Bank traded 40.5 million shares worth N2.0 billion, FBN Holdings sold 38.8 million equities valued at N1.3 billion, and UPDC transacted 23.6 million stocks worth N54.4 million.

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Economy

Crude Oil Market Dips as Trump Reiterates US Plans to Boost Production

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crude oil market

By Adedapo Adesanya

The crude oil market continued its downward movement on Thursday after the US President, Mr Donald Trump, repeated a pledge to raise his country’s oil production.

Consequently, the price of Brent crude futures fell by 32 cents or 0.4 per cent to $74.29 a barrel and the US West Texas Intermediate (WTI) crude declined by 42 cents or 0.6 per cent to $70.61 per barrel.

President Trump repeated a pledge to boost US production in a bid to lower oil prices and ease consumer inflation. The US is already the biggest crude producer in the world.

This move unnerved traders a day after the country reported a much bigger-than-anticipated jump in crude stockpiles.

Market analysts have questioned whether US oil producers will be willing to pump more barrels in the current market especially with Trump’s tariffs on Canadian and Mexican imports looming.

US government data from the Energy Information Administration (EIA) showed domestic crude stockpiles rose by 8.7 million barrels last week on Wednesday.

Prices also drew support from new US sanctions against individuals and entities for facilitating shipments of Iranian oil to China.

This is as President Trump reimposed a maximum pressure campaign against Iran, but also said he was open to a deal with the oil producing country.

The US said the tankers onboarded Iranian crude from storage in China as part of a scheme involving Iran’s military, which stands to profit from the sale of the oil.

The sanctions block access of the individuals and entities to any of their assets in the US and prohibit US foreign assistance.

China is also not sitting on its oars, it responded to the US blanket tariff of 10 per cent on all Chinese imports with several measured retaliatory tariffs, including a 15 per cent levy on LNG and 10 per cent on crude oil imports from the US.

US crude exports could slide to 3.6 million barrels per day this year, especially if the Trump Administration enacts the tariffs on Mexico and Canada – currently on pause until March 4.

Amid these developments, Saudi Arabia’s state oil company, Aramco has sharply raised prices for buyers in Asia.

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Economy

Genesis Energy’s Cutting-edge Solutions Thrill Katsina Governor

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Genesis Energy Governor Dikko Radda

By Modupe Gbadeyanka

The Governor of Katsina State, Mr Dikko Radda, has expressed delight at the technological advancements and operational excellence of a leading provider of integrated energy solutions, Genesis Energy.

Speaking at a tour of the company’s facilities in Lagos and Port Harcourt recently, Mr Radda said, “I am glad with what I saw, and they have really exhibited their capacity in terms of power generation in Nigeria.

“What I have seen here is the turbine system of power generation which they have built for over 10 years, and it’s still running at full capacity.

“Additionally, we have seen how Genesis Energy distributes electricity and the processes of distribution and the efficiency of the service. This visit has really indicated to us that they’re up to the task and they’re capable. I believe that they can handle any project that has to do with power generation in our country,” he stated.

The Governor first visited the organisation’s 84MW off-grid power plant at the Port Harcourt Refinery, the largest licensed facility of its kind in Nigeria.

The visit underscored Genesis Energy’s critical role in providing a stable and efficient power supply to key industrial facilities.

He later proceeded to Genesis Energy’s Lagos power plant in Banana Island, Ikoyi, which features 2×7.5MVA and 15MVA Injection Substations operating at 33/11KV. This facility ensures uninterrupted electricity to commercial and residential areas, further cementing GENESIS Energy’s position as a trusted energy solutions provider.

The visit underscores the growing collaboration between state governments and private sector players in addressing Nigeria’s energy needs, while also reinforcing Genesis Energy’s role in delivering sustainable power solutions nationwide.

“At Genesis Energy, we are driven by the belief that strategic partnerships are essential for unlocking Nigeria’s vast energy potential. As we continue to expand our footprint and innovate in the energy sector, we are proud to support industries, stimulate economic growth, and pave the way for a more sustainable energy landscape.

“We thank Governor Radda for his insightful visit and look forward to future collaborations that will help drive transformative change across Nigeria’s energy sector,” the Executive Vice President of Operations and Maintenance at Genesis Energy Group, Mr Simon Shaibu, remarked.

Over the past decade, Genesis Energy has continued to expand its footprint in the power sector, deploying cutting-edge energy solutions to drive industrialization, economic growth, and enhanced energy security across Nigeria. The company remains committed to supporting national energy objectives through strategic partnerships and long-term investments in sustainable power infrastructure.

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