NSE: All-Share Index Gains 16.06 Points Monday

Image

NSE

By Modupe Gbadeyanka

Trading on the Nigerian Stock Exchange (NSE) ended on a positive note on Monday with the All-Share Index (ASI) closing at 28,263.13 compared with 28,247.07 it closed on Friday, gaining 16.06 points or 0.05 percent.

In the same vein, the market capitalisation appreciated by N5 billion to close at N9.708 trillion against N9.703 trillion it ended on Friday on the NSE.

However, Business Post correspondent gathered that the volume of shares traded on the NSE on Monday slumped compared to Friday.

A total of 249.77 million shares valued at N1.96 billion were traded in 3,170 deals compared to 265.07 million shares worth N1.56 billion exchanged in 3,136 deals last Friday.

A look at the top gainers’ table showed Total Oil leading the pack, raking additional N4.25 to close at N299.25 per share.

Total Oil was seconded by Nigerian Breweries, which gained N1.48 to end at N145 per share. FlourMill followed, appreciating by N1 to close at N21.04 per share, Cadbury by 78k to close at N16.53 per share and Dangote Cement by 47k to close at N182.5 per share.

However, 7UP topped the losers’ chart, shedding N5.45 to close at N144.55 per share, ConOil by N3.5 to close at N39 per share, Betaglass by N3.39 to close at N31.51 per share, Forte Oil by N2.11 to close at N161 per share and Oando Oil by 29k to close at N5.59 per share.

Share
Related Stories
Image
03-March-2024

Abuja Residents Loot NEMA Warehouse as Hardship Bites Harder

By Adedapo Adesanya As hardships spurred by the rising cost of food, fuel, and other basic needs bite harder, some residents of the Nigerian capital, Abuja, broke into a government warehouse in the city to loot food items on Sunday morning. According to reports, the incident, which involved a warehouse belonging to the National Emergency Management Agency of Nigeria (NEMA), happened around 7 am and continued for about two hours. Amid the current economic realities in the country, there has been a spate of breaks in and looting of both private and public storage units by residents. The warehouse looted

Image
04-March-2024

NASD OTC Exchange Records First Weekly Decline in Week 9

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange, for the first time in the 2024 trading year, declined in Week 9 by 3.92 per cent, shrinking the value of investors’ portfolio by N27 billion, as the market capitalisation went down to N1,548 trillion from N1.611 trillion in Week 8. Equally, the NASD Unlisted Security Index (NSI) depreciated by 47.17 points to wrap the week at 1,141.61 points compared with the 1,188.78 points recorded in the previous week. In the week, there was a 65.1 per cent decrease in the total value of securities traded by investors to N620 million

Image
03-March-2024

Dangote Cement’s African Subsidiaries Contribute 41.2% to FY 2023 Sales

By Dipo Olowookere Dangote Cement Plc has revealed that sales from its factories outside Nigeria, its base, improved in the 2023 fiscal year by 12.7 per cent, contributing about 41.2 per cent to its total volume for the period under review, with its Nigerian operations accounting for the rest. In its audited financial statements for the year ended December 31, 2023, filed to the Nigerian Exchange (NGX) Limited, the cement maker said revenue generated from its pan-African operations increased by a record 123.2 percent to N925.9 billion, while EBITDA surged by over four-fold to N263.7 billion. Business Post reports that

Image
05-March-2024

Binance Exits Nigeria, to Convert Naira Balances to UDST

By Adedapo Adesanya Binance will discontinue all services for Nigeria’s fiat currency, the Naira, following the ongoing regulatory onslaught on the firm by the Nigerian authorities. The crypto exchange will automatically convert Naira balances to US Dollar Tether (USDT) from March 8 but will cease support for deposits after today. Withdrawals will become unsupported after March 8 by 12 noon Nigerian time, a statement sighted by Business Post confirmed. The conversion rate for automatic conversions will be pegged at N1,515.13 to 1 USDT, according to an announcement from the website. Other features, including Binance Convert, Binance P2P, the exchange’s Auto

More Stories
Image
16-April-2019

Buhari Consoles France, Christians over Notre Fire

By Dipo Olowookere President Muhammadu Buhari condoles with President Emmanuel Macron of France and all citizens over the tragic fire incident that gutted parts of the Notre Dame Cathedral in Paris. The President, in a statement signed by his Senior Special Assistant on Media & Publicity, Mr Garba Shehu, on Tuesday, extended his sympathy to Christians in Nigeria and all over the world following partial destruction of the historical Cathedral, which houses deferent valuable items held dear by worshipers. The statement said President Buhari and Nigerians joined the world in shock and disbelief as the highly revered and historical church

Image
05-July-2018

France Approves $475m Loan for Nigeria

By Dipo Olowookere A loan worth $475 million has been secured by Nigeria from France for the development of projects in Kano, Lagos and Ogun States. The loan deal was signed by Nigeria’s Minister of Finance, Mrs Kemi Adeosun and the Chief Executive Officer of the Agence Francaise Development (AFD), Mr Rey Rioux. The signing ceremony, held in Abuja on Tuesday, was witnessed by President Muhammadu Buhari and the French President, Mr Emmanuel Macron. A statement issued by AFD disclosed that the agreement consists of $200 million loan facility grant to Lagos for the execution of transport projects by AFD,

Image
01-May-2021

Incessant Attacks: FG Declares Prisons as Red Zones

By Modupe Gbadeyanka Worried by the incessant attacks at some prisons in the country, the federal government has declared the prisons as red zones to invaders. This declaration was made by the Minister of Interior, Mr Rauf Aregbesola, during a meeting with Squadron Commanders of the Nigerian Correctional Service (NCoS), on Friday in Abuja. In a statement issued by Towoju Raphael on behalf of the Director Press in the Ministry of Interior, it was stated that the commanders were given the marching order to protect the facilities. “We cannot afford to fail our people, our nation and the President. I

Image
08-November-2016

CNPP Hails Governor Ahmed For Paying Workers’ Salaries

By Dipo Olowookere The interim committees put in place by the Kwara State Governor, Mr Abdulfatah Ahmed, in the 16 local government areas in order not to create vacuum with the end of tenure of the current office holders in councils in the state has received the applause of the Congress of Nigeria’s Political Parties (CNPP). Last week, the Governor sacked all the council bosses and replaced them with Interim Transition Committee (ITC). The CNPP, which hailed this move, also commended Mr Ahmed led administration for prompt and regular payments of workers’ salaries, advising the government to always allow salaries

Image
05-May-2020

NASD Plc Q1 2020 Profit Rises 73% to N24.2m

By Adedapo Adesanya NASD Plc recorded a profit after tax (PAT) of N24.2 million for the first quarter of 2020, higher by 73 percent than the N14.0 million reported in the same period of 2019. According to the unaudited statement of the securities exchange company, which has a platform for trading of stocks of unquoted public organisations, its profit before tax (PBT) was also at N24.2 million in Q1 2020 as against N14.0 million in Q1 2019. The firm, which also trades its stocks on its platform, said it raked N53.5 million from fees and commission income, higher than N38.3

Image
08-September-2022

Crack in Nigeria Auto Journalists Association

By Modupe Gbadeyanka There seems to be trouble within the ranks of the Nigeria Auto Journalists Association (NAJA) as the chairman of the group, Mr Mike Ochonma, and his vice, Mr Tajudeen Adebanjo, are at loggerheads. According to information gathered by Business Post, the two exchanged hot words a few days ago during one of their meetings in Lagos and efforts made to calm the situation were futile. It was alleged that Mr Adebanjo wants to cause division within the association and has written letters to stakeholders in the industry in a bid to incriminate his boss. The situation has

Image
26-November-2021

Our Post-paid Customers Owe N115bn—JED Cries Out

By Adedapo Adesanya The Jos Electricity Distribution Company (JED) has said that post-paid customers across its franchise states are indebted to the company to the tune of N115 billion. This was disclosed by the Managing Director of the company, Mr Hashim Bakori, who explained that the debt owed was different from the cost of energy losses as a result of energy theft. He said this was discovered after 16 months of hard work after resuming office with his team as the new management of JED. Mr Bakori disclosed this in Jos during the launch of the company’s 5-years Corporate Strategic

Image
12-March-2019

GTBank Masters Cup Season 8 Enters Quarter Finals Stage

Sixteen teams across the male and female categories are set to compete in the quarter-finals stage of the GTBank Masters Cup. The tournament, which is now in its 8th season, will take place on Tuesday, March 12 and Wednesday, March 13, 2019. Kicking off the matches at the Campos Mini Stadium on Tuesday will be the female team of Greensprings Schools Lekki, which will square off with Lead-Forte Gate College, Lekki. Later in the day, CMS Grammar School Bariga will face Federal Science and Technical College, Yabato contend for a spot in the Male category of the semi-finals. On Wednesday,

Ad
Ad
Recent Stories
Image
05-March-2024

Binance Exits Nigeria, to Convert Naira Balances to UDST

By Adedapo Adesanya Binance will discontinue all services for Nigeria’s fiat currency, the Naira, following the ongoing regulatory onslaught on the firm by the Nigerian authorities. The crypto exchange will automatically convert Naira balances to US Dollar Tether (USDT) from March 8 but will cease support for deposits after today. Withdrawals will become unsupported after March 8 by 12 noon Nigerian time, a statement sighted by Business Post confirmed. The conversion rate for automatic conversions will be pegged at N1,515.13 to 1 USDT, according to an announcement from the website. Other features, including Binance Convert, Binance P2P, the exchange’s Auto

Image
05-March-2024

Petrol, Electricity Subsidies Will Gulp 3% of Nigeria’s GDP—IMF

By Adedapo Adesanya The International Monetary Fund (IMF) has warned the Nigerian government the payment of subsidies on petrol and electricity could take up to 3 per cent of the country’s gross domestic product (GDP) in 2024. The IMF stated this in a statement released on Monday on the completion of its 2024 Article IV Mission to Nigeria. The lender said that the recent improvements in revenue collection and oil production are encouraging, as “low revenue mobilization constrains the government’s ability to respond to shocks and to promote long-term development.” But it emphasised that, “The capping of fuel pump prices

Image
05-March-2024

Deel Buys 100% Stake in African HR Solution Company PaySpace

By Adedapo Adesanya Global human resources company, Deel, has announced the acquisition of African-based payroll and HR solution company, PaySpace, for an undisclosed amount, in one of its largest acquisitions to date. By acquiring PaySpace, Deel will become the first global payroll and Employer of Record (EOR) with its full-stack payroll engine localized in 50 countries and integrated into its offering. PaySpace’s proprietary technology is a cloud-native framework built as a single engine. Its platform allows for easy configuration to add additional countries through localization. These localization projects normally take years to complete, but with PaySpace’s innovative technology, it can

Image
05-March-2024

Emotions Pour as Dignitaries Eulogise Late Herbert Wigwe

By Adedapo Adesanya  It was an emotional rollercoaster at the tribute event held on Monday night to celebrate the late group chief executive of Access Holdings Plc, Mr Herbert Wigwe. Dignitaries from government, corporate organisations, and royalty paid tribute to the late titan who died alongside his wife, son, and a former group chairman of the Nigerian Exchange (NGX) Group Plc, Mr Abimbola Ogunbajo, on February 9 in the United States. The event which was monitored by Business Post was divided into six segments – Young Hebert, the banker, the entrepreneur, the CEO, the builder and the ambassador. These personalities

Image
05-March-2024

Nigeria’s Economic Outlook is Challenging—IMF Declares

By Aduragbemi Omiyale The International Monetary Fund (IMF) has alerted that tough times await Nigerians, though it retained its gross domestic product (GDP) growth forecast for 2024 at 3.2 per cent. In a statement on the conclusion of the IMF Staff 2024 Article IV Mission to Nigeria, the global lender said the administration of President Bola Tinubu “inherited a difficult economic situation marked by low growth, low revenue collection, accelerating inflation, and external imbalances built up over years.” However, it praised the government’s approval of an effective and well-targeted social protection system, including the release of grains, seeds, and fertilizers,

Image
05-March-2024

Banks Involved in 70% of Economic Crimes in Nigeria—EFCC

By Aduragbemi Omiyale Nearly 70 per cent of financial crimes in Nigeria have the involvement of banks, the Economic and Financial Crimes Commission (EFCC) has claimed. “Broadly speaking, banking fraud in Nigeria is both inside and outside related. “The inside related fraud comprises outright selling of customers’ deposits, authorising loan facilities, forgery and several other kinds of unhealthy and criminal practices,” the chairman of EFCC, Mr Ola Olukoyede, said while speaking at the Annual Retreat and General Meeting of the Association of Chief Audit Executives of Banks in Nigeria held in Abuja. The EFCC boss, represented by the agency’s Director

Image
05-March-2024

Nigerian Air Force Airstrikes Hit Two Illegal Refineries in Rivers

By Adedapo Adesanya The Nigerian Air Force component of Operation Delta Safe, through airstrikes destroyed two illegal oil refining sites in Krakama and Temakiri, Degema Local Government Area of Rivers State, in continuation of efforts to stamp out the activities of crude oil thieves and oil pipeline vandals in the country. This was disclosed by the Director of Public Relations and Information, Nigerian Air Force, Mr Edward Gabkwet, an Air Vice Marshal, saying the illegal oil refining sites were observed actively operating with Cotonou boats sighted nearby with the probable intent to illegally siphon crude oil from the sites. Mr

Image
05-March-2024

NGX Remains Catalyst for Economic Growth—Chiemeka

By Aduragbemi Omiyale The acting chief executive of the Nigerian Exchange (NGX) Limited, Mr Jude Chiemeka, has described the bourse as a catalyst for economic growth and development. He said this at the listing of 7.5 billion ordinary shares of Transcorp Power Plc at N240 per unit at the exchange on Monday. The energy firm raised the market capitalisation of the trading platform by N1.8 trillion yesterday. According to him, the inclusion of Transcorp Power into the NGX, the first listing of the year, underscored the pivotal role the bourse plays in shaping Nigeria’s economic landscape. He added that NGX

Image
05-March-2024

Dangote Renames Lagos Refinery Road After Herbert Wigwe

By Modupe Gbadeyanka The road to the Dangote Refinery in the Lekki area of Lagos State has been renamed after the late group chief executive of Access Holdings Plc, Mr Herbert Wigwe. This development was announced on Monday night by the owner of the oil facility, Mr Aliko Dangote, during the Celebrating Herbert Wigwe’s Professional Legacy, who said this gesture was to immortalise his friend. The Nigerian billionaire businessman and the richest black man on earth, in an emotional tribute to the late banker, who died in a helicopter crash in the United States on February 9, 2024, along with

Image
05-March-2024

Investors of Unlisted Securities Lose N43bn

By Adedapo Adesanya It was a bad day for investors of unlisted securities in Nigeria as the NASD Over-the-Counter (OTC) Securities Exchange ended the first trading session of the week on a negative note with a 3.11 per cent loss triggered by four stocks on the platform. The culprits were UBN Property Plc, Aradel Holdings Plc, Central Securities Clearing System Plc, and Resourcery Plc. They were under selling pressure during the trading session. This resultantly trimmed N43 billion from the market capitalisation of the bourse to N1.449 trillion from N1.542 trillion, as the NASD Unlisted Security Index (NSI) dropped 35.53