NSE Indices Further Shed 0.69% as Investors Lose N48b

Traders Union (TU) recently took an interest in ChatGPT, a chatbot by OpenAI. Think of ChatGPT as a super-smart robot friend who loves to chat about almost anything! It’s famous for giving detailed answers to loads of questions. But, like every friend, it might get things wrong sometimes. There’s a free version everyone can chat with, and a fancier version called ChatGPT Plus for those who want more. Some even call it the “ChatGPT trading bot” because of its extensive knowledge about trading. ChatGPT’s trading capabilities Without a doubt, ChatGPT has carved a niche for itself in the automated trading

By Adedapo Adesanya The prices of Brent futures and the US West Texas Intermediate (WTI) futures went down by about 1 per cent on Friday, due to macroeconomic concerns and sustained profit-taking. Data showed that Brent fell by 7 cents to $95.31 per barrel and WTI depreciated by 92 cents to $90.97. Prices rose about 30 per cent in the third quarter of the year helped by the production cuts by the Organisation of the Petroleum Exporting Countries and allies (OPEC+). This action squeezed global crude supply. Brent was about 2.2 per cent in the week and 27 per cent

By Adedapo Adesanya The oil market retreated on Thursday, as traders took profits after prices soared recently while the space worried that high interest rates may weigh on demand. During the trading session, Brent futures fell by $1.17 or 1.2 per cent to settle at $95.38 a barrel and the US West Texas Intermediate crude (WTI) declined by $1.97 or 2.1 per cent to close at $91.71 per barrel. The market had reached a 10-month high as some traders worried high oil prices would stoke inflation, encouraging the US Federal Reserve and other central banks to persist with rate hikes.

By Dipo Olowookere The board of Capital Hotels Plc has announced the creation of an escrow account for the payment of about N1.6 billion to minority shareholders of the company. The hospitality firm is leaving the Nigerian Exchange (NGX) Limited after years on the nation’s main stock exchange. In a notice signed by Alex Ugwuanyi, the organisation said the account was created with CardinalStone Registrars Limited and has been sufficiently funded for payment “to shareholders” who “have accepted to exit” the firm by selling their holdings. Recall that in March 2023, shareholders of Capital Hotels approved the request of the

By Adedapo Adesanya Secure Electronic Technology Plc recently released its unaudited financial statement for the half year ended June 30th 2019 and an analysis showed that gross income as the end of June 30, 2019 was N2.11billion, indicating a drop from last June’s N2.16 billion, while the total prizes/winnings paid out by the company was N1.25 billion at the end of this half year against N1.26 billion in H1 2018. The company’s activities cover lottery, airtime vending, revenue collecting, card payments, and treasury assets management and its operations approved by the Corporate Affairs Commission (CAC). The total asset of the

By Dipo Olowookere The board of directors of Lafarge Africa Plc, one of the manufacturers of cement in Nigeria, has postponed its meeting. Information reaching us revealed that the board meeting, earlier scheduled for Friday, March 23, 2018, has now been shifted to Tuesday, March 27, 2018. However, a statement signed by the Company Secretary, Adewunmi Alode, did not disclose why the meeting could not take place last Friday as earlier planned. During tomorrow’s rescheduled meeting, the board will consider the 2017 audited financial statements. “This is to formally the Nigerian Stock Exchange (NSE) that the board meeting scheduled to

By Adedapo Adesanya The 25th week of trading at the National Association of Securities Dealers (NASD) Over-the-Counter (OTC) Securities Exchange ended on a positive note last Friday. In the five-day trading week, investors saw an expansion in their investment portfolios by 0.5 per cent or N10 billion as the market capitalisation closed at N1.011 trillion compared with the preceding week’s N1.010 trillion as the NASD Unlisted Securities Index (NSI) increased by 3.86 points to 768.27 points from 764.41 points. Business Post reports that three stocks on the bourse contributed to the gains reported by unlisted securities investors last week as

By Dipo Olowookere Investors bought and sold 1.101 billion Nigerian stocks valued at N11.714 billion in 15,697 deals last week compared with the 1.410 billion worth N15.510 billion traded in 19,025 deals a week earlier. It was observed that equities in the financial services sector were the most attractive, recording the sale of 859.019 million units worth N6.691 billion in 8,157 deals, accounting for 78 per cent and 57.12 per cent of the total trading volume and value, respectively. Shares in the conglomerates industry also caught the attention of investors in the week, trading 96.989 million units valued at N109.622

By Adedapo Adesanya Meta, the parent company of Facebook, Instagram and WhatsApp, has built an open-source No Language Left Behind’ NLLB-200, a single AI model that is the first to translate about 200 languages, including 55 African languages. Meta is using the modelling techniques and learnings from the project to improve and extend translations on Facebook, Instagram, and Wikipedia. In an effort to develop high-quality machine translation capabilities for most of the world’s low-resource languages, the single AI model was designed with a focus on African languages. They are challenging from a machine translation perspective. AI models require lots and

By Investors Hub Major US index futures are pointing to a higher opening on Monday, with stocks likely to add to the modest gains posted last Friday. The markets may continue to benefit from positive sentiment generated by the Labor Department’s upbeat monthly jobs report. Overall trading activity may be somewhat subdued, however, with a lack of major US economic data keeping some traders on the sidelines. Following the release of better than expected employment data, stocks saw modest strength during trading on Friday. While buying interest was somewhat subdued, the Dow still reached another new record closing high. The

By Ebitonye Akpodigha A suspected fraudster has allegedly used documents from the Nigerian National Petroleum Corporation (NNPC) to dupe an Indian and his company. The accused person, Mr Laolu Ladimeji Lakitan, was brought before Justice O. A. Taiwo of the Lagos State High Court on Friday by the Economic and Financial Crimes Commission (EFCC). The anti-graft agency arraigned the suspect on a four-count charge bordering on obtaining money by false pretence, forgery, use of false document and impersonation. He was said to have duped Mr Pradeep Kumar Mehta and his company, Company Enkay-Indo Nigerian Limited to the tune of N130.4

By Ashemiriogwa Emmanuel At the end of The Next Titan Season 8, Nigeria’s foremost business reality TV show, the most talented youth with outstanding entrepreneurial acumen will go home with the sum of N15 million, the organisers have promised. The programme, which is tagged The Uncaged, is a 10-week competition where entrepreneurs from across the country will carry out weekly business tasks and challenges as teams or individuals with weekly evictions in the boardroom by the judges. Chiefly sponsored by Heritage Bank, this season saw entries from more than 20,000 participants, but only 75 made it through auditions in Abuja,