Economy
Profit Takers Weaken Nigerian Stocks by 0.86% Day After Unusual Trading
By Dipo Olowookere
Investors booked profit on the floor of the Nigerian Stock Exchange (NSE) on Friday a day after the market rose by over 6 per cent.
During the trading session on Thursday, the exchange triggered its circuit breaker for the first time as a result of the over 5 per cent growth it witnessed before the close of trading.
However, the next day, the market slipped by 0.86 per cent as market participants quickly sold off to take profit and this left 38 stocks bleeding, while 26 equities closed with green colour.
MTN Nigeria, which was the heaviest price loser, depreciating by N7 to settle at N155 per share, while Guinness Nigeria declined by N1.90 to sell at N20.10 per unit.
Furthermore, GTBank slipped by N1.80 to N36.40 per share, Ardova declined by N1.60 to N14.80 per unit, while Zenith Bank lost N1 to trade at N27.15 per share.
On the flip side, Airtel Africa led the table of the five highest price gainers on Friday with a value appreciation of N44.50 to quote at N489.90 per unit.
Dangote Sugar grew by 85 kobo to trade at N22.20 per share, BUA Cement also appreciated by 85 kobo to sell at N52 per unit, Fidson gained 54 kobo to close at N5.98 per share, while PZ Cussons appreciated by 50 kobo to finish at N5.75 per unit.
The activity chart was mixed yesterday following the decline in the trading value by 6.38 per cent to N16.3 billion from the previous day’s N17.4 billion.
However, the trading volume improved by 4.27 per cent to 1.24 billion units from 1.19 billion units, while the number of deals increased by 25.50 per cent to 13,433 deals from 10,704 deals.
Transcorp was the most active stock of the day, trading 191.7 million units worth N239.6 million and was followed by Zenith Bank, which sold 163.5 million shares valued at N4.5 billion.
Access Bank transacted 104.2 million shares worth N975.8 million, FBN Holdings exchanged 100.9 million equities for N826.8 million, while UBA traded 78.5 million shares valued at N718.4 million.
Business Post observed that most of the sell-offs witnessed at the market yesterday were from banking stocks, depressing the sector by 5.35 per cent.
The insurance space also took a hit of 3.20 per cent, while the energy counter declined by 0.31 per cent. However, the industrial goods index grew by 0.63 per cent, while the consumer goods space appreciated by 0.07 per cent.
At the close of business, the All-Share Index (ASI) reduced by 305 points to 35,037.46 points from 35,342.46 points, while the market capitalisation went down by N160 billion to N18.308 trillion from N18.468 trillion.
Economy
46 Stocks Gain Weight, 53 Equities Lose on NGX in One Week
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited was bullish last week despite investors’ mood swing, triggered by happenings in the country and across the globe, especially the Middle East crisis.
The All-Share Index (ASI) and the market capitalisation appreciated week-on-week by 3.94 per cent to 225,722.49 points and N145.335 trillion, respectively.
Similarly, all other indices finished higher with the exception of the growth and commodity indices, which depreciated by 0.02 per cent and 0.41 per cent, respectively, while the sovereign bond index closed flat.
A look at the price changes of shares in the five-day trading week showed that
46 stocks gained weight versus 61 stocks of the previous week, 53 equities shed weight compared with 36 equities a week earlier, and 47 shares closed flat, in contrast to 49 shares of the preceding week.
UAC Nigeria led the gainers’ chart after it chalked up 42.00 per cent to trade at N142.00, Union Dicon appreciated by 32.73 per cent to N21.90, NASCON expanded by 32.63 per cent to N206.90, Trans-Nationwide Express rose by 30.58 per cent to N7.90, and Zichis improved by 25.71 per cent to N15.60.
On the flip side, Infinity Trust Mortgage Bank led the losers’ group after it gave up 50.79 per cent to close at N9.35, Abbey Mortgage Bank declined by 33.33 per cent to N5.40, Guinea Insurance slipped by 15.20 per cent to N1.06, Stanbic IBTC lost 13.82 per cent to settle at N162.50, and Living Trust Mortgage Bank slumped by 10.98 per cent to N3.65.
As for the activity log, Customs Street recorded a turnover of 3.805 billion shares worth N213.955 billion in 297,202 deals in the week compared with 3.588 billion shares valued at N195.313 billion transacted in 254,553 deals in the previous week.
Financial stocks led the activity chart with 2.739 billion units sold for N106.269 billion in 135,101 deals, contributing 71.99 per cent and 49.67 per cent to the total trading volume and value, respectively.
Services equities traded 212.324 million units worth N4.024 billion in 17,042 deals, and consumer goods shares exchanged 180.076 million units valued at N13.269 billion in 32,457 deals.
Access Holdings, UBA, and First Holdco were the busiest with 814.060 million units traded for N39.032 billion in 37,195 deals, contributing 21.40 per cent and 18.24 per cent to the total equity turnover volume and value, respectively.
Economy
NGX Group’s 65th Annual General Meeting Holds April 29
By Aduragbemi Omiyale
The 65th Annual General Meeting (AGM) of the Nigerian Exchange (NGX) Group Plc has been fixed for Wednesday, April 29, 2026, at 11:00 am at its corporate head office on 2–4 Customs Street, Lagos.
Business Post gathered that the meeting would be streamed live on the company’s website and social media platforms to enable broader participation by shareholders and stakeholders unable to attend physically.
As part of a special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals.
The proposal also includes an increase in the organisation’s share capital from N1,102,309,954 to N1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure.
Also at the gathering, shareholders will consider and, if deemed fit, approve the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, board evaluation consultants, and audit committee.
The meeting will also deliberate on the declaration of a final dividend and the re-election of three non-executive directors retiring by rotation, who are Mr Umaru Kwairanga, Mrs Ojinika Olaghere, and Dr Okechukwu Itanyi.
Other ordinary business items on the agenda include authorising the board to fix the remuneration of the external auditors, determining the remuneration of managers, and electing members of the statutory audit committee.
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