Economy
Nigerian Stock Market Indices Rebound by 0.07%
By Dipo Olowookere
The bears lost the control of the Nigerian Exchange (NGX) Limited to the bulls on Monday on the back of renewed bargain-hunting by investors.
The local stock market appreciated by 0.07 per cent yesterday to halt the three straight session of losses triggered by profit-taking activities.
According to data, the insurance sector maintained its upward movement with a 5.26 per cent rise and was followed by the banking space, which grew by 1.51 per cent and the consumer goods index, which expanded by 1.15 per cent.
However, the energy counter went down by 0.28 per cent, and the industrial goods industry depreciated by 0.12 per cent, while the commodity sector closed flat.
When the bourse closed its doors to trading at 2:30 pm, the All-Share Index (ASI) slightly increased by 94.27 points to 144,722.47 points from 144,628.20 points and the market capitalisation rose by N59 billion to N91.561 trillion from N91.502 trillion.
Yesterday, market participants bought and sold 1.2 billion shares for N16.2 billion in 38,160 deals versus the 1.4 billion shares valued at N13.9 billion transacted in 32,065 deals last Friday, showing a shortfall in the trading volume by 14.29 per cent, and a leap in the trading value and number of deals by 16.55 per cent and 19.01 per cent apiece.
The activity chart was led by Universal Insurance with 202.3 million stocks valued at N265.8 million, Champion Breweries sold 103.2 million equities worth N1.2 billion, Linkage Assurance transacted 77.9 million shares for N206.6 million, Lasaco Assurance exchanged 66.4 million equities worth N263.8 million, and Mutual Benefits traded 57.8 million shares valued at N244.5 million.
The duo of UPDC and AIICO Insurance were the best-performing stocks after chalking up 10.00 per cent each to sell for N7.15 and N4.18 apiece, Cornerstone Insurance grew by 9.99 per cent to N7.60, Deap Capital jumped by 9.94 per cent to N1.77, and Custodian Investment gained 9.93 per cent to settle at N40.96.
On the flip side, Stanbic IBTC was the worst-performing stock after it lost 9.99 per cent to quote at N100.00, PZ Cussons declined by 7.89 per cent to N35.00, NEM Insurance crashed by 7.85 per cent to N29.95, Chams gave up 5.26 per cent to close at N2.70, and The Initiates shrank by 5.11 per cent to N13.00.
Business Post reports that Customs Street ended the first trading session of the week with 43 price gainers and 27 price losers, indicating a positive market breadth index and strong investor sentiment.
By Aduragbemi Omiyale
Shares of First Holdco Plc worth N45.0 billion issued through a private placement have been listed on the Nigerian Exchange (NGX) Limited.
A circular issued by the Head of Issuer Regulation Department of the NGX Regulation Limited, Mr Godstime Iwenekhai, disclosed that the equities were admitted for trading at the stock market on Monday.
According to the notice, the additional shares brought for listing to rank pari passu with existing shares of the organisation were 1,021,334,544 units.
These stocks were sold to one of the company’s major shareholders at a unit price of N44.06, amounting to N45.0 billion.
The total issued and fully paid-up shares of First Holdco, as a result of this listing, are now 45,475,027,677 ordinary shares of 50 Kobo each.
“Trading licence holders are hereby notified that an additional 1,021,334,544 ordinary shares of 50 Kobo each of First Holdco Plc were on Monday, June 22, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares listed on NGX arose from the company’s private placement of 1,021,334,544 ordinary shares of 50 Kobo each at N44.06 per share.
“With the listing of the additional shares, the total issued and fully paid-up shares of First Holdco Plc have now increased to 45,475,027,677 ordinary shares of 50 Kobo each from 44,453,693,133 ordinary shares of 50 Kobo each,” the disclosure stated.
By Adedapo Adesanya
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has approved fresh import licences for petrol and diesel for the third quarter of 2026 (July – September) to prevent potential supply shortages in the domestic market.
According to a report by global energy intelligence firm, Argus Media, the latest approvals were issued to major downstream operators amid declining fuel stock levels and concerns over reduced petrol production at the 700,000 barrels per day Dangote Petroleum Refinery in Lagos.
The move comes as Nigeria continues to balance increasing local refining capacity with the need to guarantee adequate supplies of petroleum products across the country.
According to the Argus report, domestic firms, including AA Rano, AYM Shafa, Bono Energy, Nipco, Matrix Energy and Pinnacle Oil, received permits to import Premium Motor Spirit, popularly known as petrol, during the July-September period.
The publication further reported that the same companies, with the exception of Nipco, were granted approvals to import Automotive Gas Oil, commonly known as diesel. The fresh approvals follow an earlier batch of petrol import permits issued by the regulator in May, covering about 720,000 metric tonnes.
Quoting a regulatory source, Argus noted that many of the companies granted the latest approvals were among those that had received permits in previous rounds. “These are some of the same ones that previously received the PMS permits,” the source was quoted as saying.
It was also claimed that AA Rano and Matrix Energy each received approvals to import 180,000 metric tonnes of petrol. AYM Shafa received approval for 120,000 metric tonnes, while Pinnacle Oil received a permit covering 150,000 metric tonnes.
For diesel imports, Argus reported that AYM Shafa obtained a permit for 60,000 metric tonnes, while Pinnacle secured approval for 45,000 metric tonnes. The report stated that the import approvals were issued only recently, after being delayed from an initial target date of June 15.
By Adedapo Adesanya
Three securities weakened the NASD Over-the-Counter (OTC) Securities Exchange by 1.01 per cent on Tuesday, June 23, dragging the market capitalisation down by N25.91 billion to N2.544 trillion from Monday’s N2.570 trillion. Also, the NASD Security Index (NSI) decreased by 43.17 points to 4,239.34 points from 4,282.51 points.
The triplet price losers were Central Securities Clearing System (CSCS) Plc, which gave up N4.82 to trade at N75.00 per unit versus Monday’s closing price of N79.82 per unit. NASD Plc depreciated by N3.70 to close at N33.30 per share compared with the preceding day’s N37.00 per share, and Nitrox Industrial Gases Plc marginally lost 1 Kobo to sell at N21.41 per unit, in contrast to the previous session’s N21.42 per unit.
Tuesday’s trading data showed that the volume of securities traded by investors retreated by 35.9 per cent to 211,671 units from 330,034 units, and the value of securities fell by 82.9 per cent to N5.6 million from N32.7 million, while the number of deals doubled to 38 deals from 19 deals.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by value on a year-to-date basis, with 3.4 billion units worth N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units valued at N6.5 billion, and CSCS Plc with 68.1 million units transacted for N4.7 billion.
GNI Plc also closed the trading day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, trailed by Infracredit Plc with 2.3 billion units exchanged for N6.5 billion, and Resourcery Plc with 1.1 billion units sold for N415.7 million.
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