Economy
NGX in Stalemate as Bulls, Bears Share Spoils
By Dipo Olowookere
The spoils of the battle between the bulls and the bears were shared on Tuesday after the Nigerian Exchange (NGX) Limited closed in a stalemate, Business Post reports.
The market closed flat after the key performance indicators could not record any tangible increases as the All-Share Index (ASI) closed at 41,814.94 points compared with the previous day’s 41,814.74 points, while the market capitalisation remained at N21.821 trillion.
This occurred despite the market breadth closing positive with 22 price gainers and 21 price losers, with the risers led by Universal Insurance and University Press by 10.00 per cent each to close at 22 kobo and N1.65 apiece.
Courtville gained 9.76 per cent to sell for 45 kobo, Abbey Mortgage Bank rose by 9.30 per cent to 94 kobo, while International Breweries appreciated by 9.28 per cent to quote at N5.30.
Conversely, ABC Transport led the laggards with an 8.82 per cent loss to sell for 31 kobo, FTN Cocoa went down by 6.25 per cent to 45 kobo, Cutix lost 5.47 per cent to trade at N6.05, NGX Group fell by 4.61 per cent to N19.65, while Sovereign Trust Insurance declined by 4.17 per cent to 23 kobo.
It was observed that only the energy space closed in the red territory yesterday as it fell by 0.38 per cent, while the other counters ended in the green zone at the close of transactions.
The insurance, banking, industrial goods and consumer goods sectors appreciated by 0.51 per cent, 0.21 per cent, 0.06 per cent and 0.04 per cent respectively on Tuesday.
As for the activity chart, it was in red at the session as the trading volume went down by 47.63 per cent to 353.2 million units from 674.5 million units, the trading value dropped 26.63 per cent to N5.6 billion from N7.6 billion, while the number of deals declined by 2.03 per cent to 5,322 deals from 5,432 deals.
When the market closed for the day at 2:30 pm, FBN Holdings remained as the most traded stock with the sale of 73.1 million units of its shares valued at N906.8 million, followed by GTCO, which sold 25.0 million units of its stocks for N715.3 million.
Universal Insurance traded 22.8 million shares worth N4.9 million, UBA transacted 20.3 million equities valued at N171.2 million, while Transcorp exchanged 18.4 million stocks worth N18.9 million.
By Adedapo Adesanya
The Nigerian Shippers Council (NSC) has reiterated its commitment to prioritising shipping activities and promoting importers and exporters in the country.
The Executive Secretary of the Council, Mr Pius Akutah, in a statement on Wednesday, said this after a familiarisation visit to the North East Zonal Directorate in Bauchi State.
The visit marked a strategic step in assessing the activities of the council in the region and reinforcing its role in trade facilitation and port economic regulation.
“The purpose of the visit was to promote regional integration in shipping activities and support exportation.
“This aligns with the current administration’s goal of enhancing the nation’s resources through the blue economy.
“We have had interactive meeting with stakeholders aimed at advancing shipping activities in the region and the role of shippers’ association in representing the interests of importers and exporters.
“The NSC is committed to improving ease of doing business,” he said.
On the Inland Dry Ports project in Bauchi, an initiative by the state government, Mr Akutah said it was laudable as it would attract both import and export activities to the area.
By Adedapo Adesanya
UBN Property Plc further sank the NASD Over-the-Counter (OTC) Securities Exchange in the red territory by 0.48 per cent on Wednesday, April 23.
The property investment company lost 7 Kobo of its share value to settle at N2.10 per unit compared with the preceding day’s price of N2.17 per unit.
As a result, the market capitalisation of the bourse went down by N9.19 billion to N1.908 trillion from N1.917 trillion and the NASD Unlisted Security Index (NSI) slumped by 105.70 points to 3,259.08 points from the previous session’s 3,274.78 points.
There was a 500.5 per cent rise in the volume of securities transacted in the midweek session to 1.05 million units from the 174,634 units traded in the previous trading day.
However, the value of transactions decreased by 9.1 per cent to N2.6 million from N2.86 million and the number of deals dropped by 31.3 per cent to 11 deals from 16 deals.
At the close of business, Impresit Bakolori Plc remained the most active stock by volume on a year-to-date basis with 533.9 million units worth N520.9 million, trailed by Okitipupa Plc with 153.6 million units sold for N4.9 billion, and Industrial and General Insurance (IGI) Plc with 71.2 million units valued at N24.2 million.
Okitipupa Plc remained the most traded stock by value on a year-to-date basis with 153.6 million valued at N4.9 billion, followed by FrieslandCampina Wamco Nigeria Plc with the sale of 14.8 million units for N572.0 million, and Impresit Bakolori Plc with a turnover of 533.9 million units worth N520.9 million.
By Aduragbemi Omiyale
Between April and June 2025, the federal government intends to sell bonds between N900 billion and N1.2 trillion to investors.
This information was revealed by the Debt Management Office (DMO) in its Bond Issuance Calendar for Q2 2025
The sales will take place once in a month, precisely on April 28, May 26, and June 23, according to the data released by the DMO.
It was stated that the debt office will offer the debt instrument in two maturities, with N300 billion and N400 billion offered for sale at each auction.
In April and May, the DMO will reopen the 19.30 per cent FGN APR 2029 and 19.89 per cent FGN MAY 2033 bonds, and in June, it will introduce the FGN JAN 2030 and FGN JAN 2032 and five and seven-year, respectively.
In April, the APR 2029 bond will have a remaining tenor of four years, while the MAY 2033 bond will have six years and one month left.
By May, those terms shorten to three years and eleven months, and six years, respectively. Both bonds retain their original coupon rates of 19.30 per cent and 19.89 per cent.
The DMO has also released details for its April auction. The Federal Government plans to raise N350bn through the reopening of the APR 2029 and MAY 2033 bonds.
According to the circular, N200bn will be offered in the APR 2029 and N150bn in the MAY 2033. The auction will be held on Monday, April 28, with settlement on Wednesday, April 30.
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