Economy
Nigerian Exchange Sheds 0.06% on Cautious Trading
By Dipo Olowookere
Cautious trading weakened the performance indices of the Nigerian Exchange (NGX) Limited by 0.06 per cent on Tuesday as investors watch the political scene ahead of this weekend’s presidential election.
It was observed that most of the sectors of the bourse closed lower during the session except the energy counter, which gained 0.28 per cent.
However, it could not lift the stock market when trading activities for the session were brought to an end by 2:30 pm, as the banking index shed 0.38 per cent, the insurance space fell by 0.22 per cent, and the consumer goods sector lost 0.16 per cent, while the industrial goods counter was relatively flat.
As a result, the All-Share Index (ASI) depreciated by 35.04 points to settle at 54,189.31 points, in contrast to Monday’s 54,224.35 points, as the market capitalisation went down by N19 billion to N29.520 trillion from N29.539 trillion.
Data gathered by Business Post showed that investors offloaded their stocks during the session to book profit, causing the activity level to rise.
A total of 254.2 million equities valued at N15.6 billion in 2,950 deals compared with the 154.6 million equities worth N5.5 billion traded in 3,095 deals a day earlier.
This showed that the number of deals went down by 4.68 per cent, the volume of transactions appreciated by 64.42 per cent and the value of trades grew by 183.64 per cent.
The most traded stock for the session was Geregu Power, which transacted 125.0 million units, with GTCO trailing for selling 31.1 million units. Zenith Bank exchanged 15.0 million units, Access Holdings sold 11.1 million units, and UBA traded 7.2 million units.
The local bourse was dominated by the bears yesterday due to the selling pressure, resulting in a negative market breadth. The exchange ended the session with 15 price losers and nine price gainers, indicating a persistent weak investor sentiment.
Veritas Kapital was the worst-performing stock as it dropped 4.76 per cent to 20 Kobo, Linkage Assurance decreased by 4.44 per cent to 43 Kobo, International Breweries shrank by 4.26 per cent to N4.50, Transcorp went down by 4.03 per cent to N1.19, and Consolidated Hallmark Insurance declined by 2.99 per cent to 65 Kobo.
On the flip side, MRS Oil gained 10.00 per cent to quote at N25.30, Tripple Gee appreciated by 9.63 per cent to N2.39, Living Trust Mortgage Bank rose by 5.16 per cent to N2.65, AIICO Insurance grew by 1.69 per cent to 60 Kobo, and UPDC REIT inflated by 1.64 per cent to N3.10.
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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