Nigerian Stocks Bounce Back with N181b Gain

Image

By Dipo Olowookere

Transactions at the Nigerian stock market ended on Friday on a positive note with investors smiling with N180.8 billion gain at the close of trading activities.

Unlike yesterday, when the All-Share Index (ASI) went down by 1.56 percent, it rose today by 1.32 percent after gaining 502.38 points to close at 38,436.08 points.

The market capitalisation on Friday appreciated by N181 billion to settle at N13.678 trillion, while the Year-to-Date (YtD) return closed at 43.02 percent.

Business Post reports that the volume and value of equities transacted today recorded significant rise with investors trading a total of 425.3 million shares worth N9.2 billion in 4,104 deals against the 289.3 million equities valued at N6.2 billion exchanged yesterday in 4,617 deals.

Zenith Bank emerged the most traded stock, trading 127.9 million shares for N3.3 billion, and was followed by GTBank, which sold 73.4 million shares for N2.9 billion.

Dangote Sugar exchanged 55.9 million shares valued at N1.2 billion, FBN Holdings traded 34.6 million shares at N302.4 million, while Diamond Bank transacted 20.7 million shares worth N29.9 million.

On the price movement chart, Dangote Cement topped the gainers’ log, appreciating by N10 to settle at N240 per share.

Nigerian Breweries grew by N3.50k to close at N142.50k per share, while Presco increased by N1.17k to finish at N66.17k per share.

Guinness Nigeria added N1 to its share value to end at N96 per share, and Zenith Bank expanded by 71k to close at N25.70k per share.

On the flip side, Okomu Oil emerged the highest price loser, depreciating by N3.75k to close at N71.25k per share.

It was followed by Lafarge, which lost 99k to close at N43.1k per share, and Cadbury Nigeria, which went down by 77k to finish at N14.77k per share.

Unilever declined by 50k to close at N40.20k per share, while Dangote Flour shed 45k to finish at N11.80k per share.

Share
Related Stories
Image
01-March-2024

Foreign Capital Into Nigeria’s Energy Industry Plunges 42.8% to $3.64bn in 2023

By Adedapo Adesanya Foreign capital inflows, which gauges the level of foreign investment into the country, through the Nigerian oil and gas industry in 2023 dropped by 42.8 per cent to $3.64 million from the $6.37 million recorded in 2022. This is contained in the latest data obtained from the Nigeria capital importation report for the fourth quarter of 2023 released recently by the National Bureau of Statistics (NBS). The NBS revealed that total foreign capital inflow into the oil and gas sector in 2023 accounted for 0.09 per cent of total foreign capital inflow into the Nigerian economy in

Image
29-February-2024

Navigating the Complex World of Investing: What Novices Need to Know

Have you finally decided to take the leap into the exciting arena of investing? Not only is this an excellent way to secure a lucrative nest egg for the future, but many have begun to use these opportunities as a springboard for their businesses. However, appreciating the intricacies of online trading is no easy task. A great deal of preparation will be required and mistakes can occur on occasion. This is why knowing where to begin is one of the best ways to establish strong foundations. Let us therefore cut through a fair amount of “fluff” and examine a handful

Image
01-March-2024

CBN Revokes Operational Licences of 4,173 BDC Operators [FULL LIST]

By Aduragbemi Omiyale The operational licences of 4,173 Bureaux De Change (BDC) operators have been revoked by the Central Bank of Nigeria (CBN). A statement signed by the acting Director of the Corporate Communications Department of the apex bank, Mrs Hakama Sidi Ali, on Friday disclosed that the action was taken because the affected BDCs did not adhere to regulatory provisions. The central bank said the BDCs did not pay all necessary fees, including licence renewal, within the stipulated period in line with guidelines. It also said they failed to give account of returns in line with the guidelines, and

Image
01-March-2024

FX Crisis: Nigeria May Slam $10bn Fine on Binance

By Adedapo Adesanya The Nigerian government may be considering a $10 billion fine on Binance, a crypto exchange platform, amid a crackdown on crypto platforms in desperate moves to restore the nation’s battered foreign exchange (FX) market. This information was disclosed by Mr Bayo Onanuga, who is the Special Adviser on Information and Strategy to President Bola Tinubu, in an interview with the British Broadcasting Corporation (BBC) on Friday morning. According to the President’s aide, this was necessary as the Nigerian government believes Binance profited substantially from its “illegal transactions” in the country while the nation suffered huge losses. Mr

More Stories
Image
25-January-2018

Asian Stock Markets Fall on Renewed Worries On Trump’s Policies

By Investors Hub Asian stocks fell broadly on Thursday on renewed worries over President Donald Trump’s America First policies and other protectionist measures. Comments by U.S. Treasury Secretary Steven Mnuchin that he welcomed a weaker currency also added to investor worries over the Trump administration’s protectionist stance. Chinese shares fell from two-year highs as investors booked some profits after recent gains. The benchmark Shanghai Composite Index dropped 11.16 points or 0.3 percent to 3,548.30, snapping a seven-session winning streak. Hong Kong’s Hang Seng Index slid 304.24 points or 0.9 percent to 32,265.45. Japanese shares fell to their lowest level in

Image
04-May-2017

Dangote Sugar Seeks N21.2b from Capital Market

By Modupe Gbadeyanka Management of Dangote Sugar Refinery has expressed its intention to source for N21.2 billion from the capital market through equity injection before the end of this year. The amount, the firm said, would form part of the N106 billion budgeted to finance its operations within the next six years, aimed at achieving the Dangote Sugar Master Plan, which is in two phases; targeting production of 690,000 MT of sugar across five northern sites, and production of 881,000 MT of sugar and creation of 75,000 jobs. At the company’s ‘facts behind the figure’ presentation at the Nigerian Stock

Image
16-November-2017

Summary of Wednesday’s Treasury Bills Auction at Primary Market

By Dipo Olowookere On Wednesday, November 15, 2017, the Central Bank of Nigeria (CBN) sold a total of N119.94 billion worth treasury bills at the primary market. The central bank had offered to auction N32.44 billion of the 91-day bills, N22.82 billion of the 182-day bills, and N64.68 billion of the 364-day bills, but traders oversubscribed the 364-day bills, leaving the two others undersubscribed. At the close of the auction, the apex bank sold N6 billion of the 91-day bills, N6 billion of the 182-day bills, and N107.94 billion of the 364-day bills with rates clearing at 13 percent, 15.25

Image
03-October-2023

London Court Orders Alison-Madueke to Wear Electronic Tag

By Adedapo Adesanya Nigeria’s former Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, who faces bribery charges filed against her by the United Kingdom (UK) government, was on Monday granted bail in a London court. Reading his judgement, District Judge Michael Snow granted her bail in terms and conditions, including a curfew that ordered her to stay indoors between 11 pm and 6 am. He also ordered her to always wear an electronic tag and imposed a £70,000 surety to be paid before she could leave the court building on Monday. According to Reuters, the former minister, during her Monday appearance

Image
14-February-2020

Africa’s Female Fund Managers to Access $100m

By Modupe Gbadeyanka Steps are already being taken to ensure women in Africa are used to drive economic growth on the continent. Last weekend in Addis Ababa, Ethiopia, African leaders came together to launch the African Women Leadership Fund (AWLF). It was a collaborative effort with United Nations Economic Commission of Africa (ECA) and Standard Bank Group. The fund, which has a target of $100 million, will provide capital to both first time and experienced female fund managers in Africa in support of UN Sustainable Development Goals 5 (Gender Equality) and 8 (Decent Work and Economic Growth), and African Union

Image
03-September-2019

Oil Slips as US-China Tariffs Take Effect

By Adedapo Adesanya  Oil prices weakened on Monday after new tariffs imposed by the United States and China came into force, raising concerns about a further hit to global growth and demand for crude. Brent crude slipped 59 cents to $58.66 per barrel by 8 p.m. (Nigerian Time), while U.S. benchmark West Texas WTI crude was down 7 cents at $55.03 per barrel. The United States began imposing 15 percent tariffs on a variety of Chinese goods on Sunday – including footwear, smart watches and flat-panel televisions – as China put new duties on U.S. crude, the latest escalation in

Image
15-March-2020

AERC Sets Agenda for Tackling Nutrition, Food Challenges

Discussions around food and nutrition security took centre stage at the just concluded Senior Policy Seminar hosted by the African Economic Research Consortium (AERC), in partnership with the Central Bank of Nigeria (CBN). The two-day conference, which held from March 9 to 10, 2020 and was supported by the Bill and Melinda Gates Foundation, had the theme Agriculture and Food Policies for Better Nutrition Outcomes in Africa. Prof. Njunguna Ndung’u, the Executive Director of AERC, in his opening address, emphasised that the seminar focused on Agriculture, Food Security and Nutrition Outcomes in Africa because agriculture is the main stay of

Ad
Ad
Recent Stories
Image
02-March-2024

Endosurvivors Foundation Set For Another Endometriosis Awareness

By Adedapo Adesanya EndoSurvivors International Foundation (ESIF), an NGO championing endometriosis awareness in Nigeria, has announced its upcoming events in commemoration of the Global Endometriosis Advocacy Month in March, fondly tagged March4Endo by advocates all over the world.  Endometriosis is a chronic and inflammatory condition that affects approximately 1 in 10 girls and women in Nigeria and on a global scale. This sums up to about 190 million affected girls/women around the world, about the population of Nigeria in 2018.  The World Health Organisation (WHO) recognizes that endometriosis has significant social, public health, and economic implications leading to a decrease

Image
02-March-2024

CSCS, FrieslandCampina Lift NASD OTC Bourse by 0.31%

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange returned to the positive territory after it gained 0.31 per cent on Friday, March 1, thanks to the duo of Central Securities Clearing System (CSCS) Plc and FrieslandCampina Wamco Nigeria Plc. CSCS Plc added 81 Kobo to its value to sell for N19.46 per unit compared with the preceding day’s N18.65 per unit, and FrieslandCampina improved by N1.15 to settle at N71.4o per share, in contrast to Thursday’s closing price of N70.25 per share. However, Aradel Holdings Plc continued its price depreciation yesterday as it shed N6.75 to sell at N2,395.00

Image
02-March-2024

Naira Now N1,548.25 at Official Market, N1,560/$1 at Black Market

By Adedapo Adesanya The Naira sustained its gradual recovery against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, March 1, appreciating by 2.94 per cent or N46.86 to sell at N1,548.25/$1, in contrast to the N1,595.11/$1 it was traded on Thursday. Also, in the spot market, the Nigerian currency improved its value against the Pound Sterling during the trading day by N90.13 to close at N1,956.06/£1 versus the previous day’s N2,046.19/£1 and against the Euro, it gained N76.39 to trade at N1,675.25/€1, in contrast to the N1,751.64/€1 it closed a day earlier. The supply of

Image
02-March-2024

Crude Oil Jumps 2% as Traders Sight Possible OPEC+ Cuts

By Adedapo Adesanya Crude oil appreciated by about 2 per cent on Friday as traders awaited a decision from the Organisation of the Petroleum Exporting Countries and allies (OPEC+) on supply agreements for the second quarter. Yesterday, the price of Brent futures went up by $1.64 or 2 per cent to $83.55 per barrel and the US West Texas Intermediate (WTI) futures rose by $1.71 or 2.19 per cent to $79.97 a barrel. For the week, Brent added around 2.4 per cent while WTI gained more than 4.5 per cent. Analysts noted that the expectation that OPEC+ is going to

Image
02-March-2024

NGX Indices Nosedive by 1.23% as Traders Resume Profit-Taking

By Dipo Olowookere The bears made a quick return to the Nigerian Exchange (NGX) Limited after leaving the stage for the bulls for a day as investors reassessed the impact of the hike in the benchmark interest rate by the Central Bank of Nigeria (CBN) on Tuesday on their investments. On Friday, the key performance indicators of the bourse closed lower by 1.23 per cent as a result of renewed selling pressure, especially in the energy and industrial goods sectors. Business Post reports that at the close of transactions on the first trading session of March 2024, the industrial goods

Image
01-March-2024

CBN Revokes Operational Licences of 4,173 BDC Operators [FULL LIST]

By Aduragbemi Omiyale The operational licences of 4,173 Bureaux De Change (BDC) operators have been revoked by the Central Bank of Nigeria (CBN). A statement signed by the acting Director of the Corporate Communications Department of the apex bank, Mrs Hakama Sidi Ali, on Friday disclosed that the action was taken because the affected BDCs did not adhere to regulatory provisions. The central bank said the BDCs did not pay all necessary fees, including licence renewal, within the stipulated period in line with guidelines. It also said they failed to give account of returns in line with the guidelines, and

Image
01-March-2024

BREAKING: Popular Yoruba Comic Actor Sisi Quadri Dies

By Modupe Gbadeyanka A popular Yoruba comic actor, Mr Tolani Quadri Oyebamiji, otherwise known as Sisi Quadri, has died, according to reports. However, the cause of his death is still unclear as of the time of filing this report. There are speculations that he briefly fell ill before his passing, though he was seen publicly some months ago with a fellow comic actor, Sanusi Izihaq, who is well-known as Apa or Apankufor. Sisi Quadri, who died at the age of 44, was recently gaining fresh public attention with his comic act with Apa and others. His demise has hit the

Image
01-March-2024

Transcorp Power to List Shares on Nigerian Exchange March 4

By Dipo Olowookere Another power generating company will join Geregu Power Plc on the Nigerian Exchange (NGX) Limited, Business Post has gathered. The new firm joining the nation’s flagship stock exchange is Transcorp Power Plc, a company owned by businessman and Chairman of UBA Plc, Mr Tony Elumelu. Information reaching this newspaper is that Transcorp Power is listing its shares on the NGX by introduction on Monday, March 4, 2024. The organisation is taking to the stock market about 7,500,000,000 units of its equities at N240.00 each, increasing the total value of the local equity market by N1.8 trillion. Its

Image
01-March-2024

Risevest Suspends Crypto Payment as Clampdown Intensifies

By Adedapo Adesanya Foreign stocks trading and investment firm, Risevest, has voluntarily announced a temporary suspension of cryptocurrency assets in Nigeria until the current wave of clampdown on operations settles. In a notice sent to customers on Friday and seen by Business Post, the platform said users won’t be able to fund their wallets using cryptocurrency as it allowed. The company revealed that it noticed that there has been an uptick in funding and possible gaming of the system, and warned against this. “We’re temporarily suspending crypto funding on Rise for users in Nigeria, pending clarity on the regulatory landscape.

Image
01-March-2024

Foreign Capital Into Nigeria’s Energy Industry Plunges 42.8% to $3.64bn in 2023

By Adedapo Adesanya Foreign capital inflows, which gauges the level of foreign investment into the country, through the Nigerian oil and gas industry in 2023 dropped by 42.8 per cent to $3.64 million from the $6.37 million recorded in 2022. This is contained in the latest data obtained from the Nigeria capital importation report for the fourth quarter of 2023 released recently by the National Bureau of Statistics (NBS). The NBS revealed that total foreign capital inflow into the oil and gas sector in 2023 accounted for 0.09 per cent of total foreign capital inflow into the Nigerian economy in